Welcome to AI Tool Report!

As we prepare to move into 2025, we thought we’d take a look at the top 3 AI news stories, from 2024.  

🌤️ This Morning on AI Tool Report

1. 🧠 OpenAI launches 1st reasoning model (o1)

2. 🤖 How to build advanced AI chatbots with Chatnode

3. 🍟 NVIDIA became most valuable AI company

4. 🌍 How to manage language translation assets using ChatGPT

5. ⚖️ The EU launches the AI Act

Read Time: 5 minutes

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CHATBOTS

#1: 🧠 OpenAI launches 1st reasoning model (o1)

Our Report: In September 2024, OpenAI launched its first reasoning models—o1-preview (for general users and o1 mini (for writing code)—which “spend more time thinking” before they respond, and can answer more complex questions, faster than a human can, marking a huge step forward in AI.

🔑 Key Points:

• Unlike previous models, o1 has been trained with “reinforcement learning” which teaches it to “think” before answering by issuing rewards and penalties, which allows it to self-solve problems and fact-check answers.

• Although they take a few seconds to ‘think’ and calibrate answers, tests demonstrated that the o1 models could accurately solve 83% of complex Math problems, whereas older versions could solve just 13%.

• When answering scientific problems, o1 outperformed PhD-level scientists in problem-solving, which, although marks a huge AI advancement, has worried experts, who are now calling for better AI regulation.

🤔 Why you should care: The launch of OpenAI’s o1 has sparked the release of a flurry of reasoning models from Google (Gemini 2.0 Flash Thinking Experimental), DeepSeek (DeepSeek-R1), and Alibaba (QwQ-32B-Preview) which marks an important shift in AI’s ability to reason through problems, and paves the way for a future where AI can work, like humans, to solve complex tasks.

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TOGETHER WITH CHATNODE

🤖 The Next Generation of AI Chatbots is Here

Still drowning in customer questions?

With Chatnode, it's now even easier to build advanced AI chatbots that deeply understand your business, handle inquiries 24/7, and drive more sales. 

Here’s why Chatnode is different:

🔍 Reliable Responses: RAG technology ensures consistent and accurate answers.

⚡ Easy Setup: Create and launch your chatbot fast, no coding required.

🔒 Enterprise-Grade Security: Top-tier security and compliance for your data.

🔌 Connects with Your Software: Zendesk, Slack, Google Drive, Notion, Zapier, SharePoint, Dropbox, Onedrive, Make, and more.

💬 Live Agent Handoff: Easily transfers chatbot conversations to human agents.

🤖 Model Agnostic AI: Choose your LLM: Claude, Gemini, ChatGPT, and Perplexity.

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AI HARDWARE

#2: 🍟 NVIDIA became most valuable AI company

Our Report: In November, NVIDIA became the most valuable company in the world, surpassing Apple and highlighting the market demand for AI hardware.

🔑 Key Points:

• At its peak, NVIDIA’s market capitalization surpassed $3.3 trillion, and its stock price nearly tripled in value throughout 2024 as investors grew more confident in its ability to maintain its growth rate amid the AI boom.

• Over the last five years, its stock grew by over 2,700% and its revenue has more than doubled in each of the last five quarters—tripling in the last three—as it designs about 75% of the world's AI chips.

• It did briefly push past Apple in June (but just for a day), and it also beat Microsoft (valued at $3.06T) in October, as it continued its “astronomical” upward trajectory.

🤔 Why you should care: This just further highlights the increasing importance and dominance of AI infrastructure within the industry, something which is expected to continue, although whether NVIDIA will remain the largest AI chip manufacturer and, therefore, the most valuable company in the world, remains to be seen, with many (such as OpenAI, Apple, Meta, and Microsoft) rumored to be developing their own AI chips, to reduce reliance on NVIDIA.

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REGULATION

#3: ⚖️ The EU launches the AI Act

• In March, the European Union (EU) announced it was developing new risk-based legislation—The AI Act—to regulate the development, use, and applications of AI in the EU, which it passed in May

• The AI Act came in, officially, in August, and follows a “risk-based” approach meaning “high-risk” AI (like biometric identification systems) will face strict regulations, and “minimal-risk” AI (like chatbots) will face fewer.

• The EU gave tech companies 3-6 months to comply with the new rules, or they will face potential fines ranging from $8.1M (or 1% of their global annual turnover) to $38M (or 7% of their global annual turnover).

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Until next time, Martin & Liam.

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