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Meta Goes All In on AI: Can It Compete With Google, ChatGPT and MidJourney?
Meta’s CM3leon model and a reported commercial version of LLaMA could upend the generative AI industry.
July 14, 2023
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Meta is aggressively ramping up its artificial intelligence efforts in a bid to catch up to rivals like Google, Microsoft, and OpenAI. The social media giant has introduced a new text-to-image model called CM3leon that it claims achieves state-of-the-art performance for generating images from text prompts. But it's not yet available for testing or commercial use.

CM3leon marks a breakthrough for Meta's AI capabilities. The model can not only generate high-fidelity images from text descriptions, but also write coherent captions for existing images. This lays the groundwork for more advanced image understanding models in the future.

Meta is leveraging its formidable data science team and computing infrastructure to advance state-of-the-art models like CM3leon. While diffusion-based AI like MidJourney's has grabbed headlines, Meta is betting on autoregressive transformer architectures (the same tech used by ChatGPT). The company claims CM3leon needs 5x less training compute than other comparable methods.

In head-to-head comparisons, CM3leon appears to handle complex objects and constraints in text prompts better than models like OpenAI's DALL-E 2, and even Midjourney. Images shared by Meta show that its new text-to-image generator is capable of accurately representing the human anatomy (no more spaghetti hands) and can even render accurate text (no more random words in AI images)

                    Some examples of images provided by CM3leon. Image: Meta

CM3leon also provides advanced pictures that could let users create more accurate representations of their ideas: Text to image, image to image, structure-guided image editing, object to image, segmentation to image and super-resolution upscaling are some features that are not available in any generator other than Stable Diffusion using Controlnet.

Rumors of a new LLM

Meta is also reportedly planning to release a commercial version of its LLaMA natural language model to outside developers, according to sources cited by the Financial Times. If true, this will allow startups and enterprises to build custom applications powered by Meta's AI, putting the social media behemoth in direct competition against ChatGPT (OpenAI-Microsoft), Bard (Google), and Claude v2 (Anthropic-Google)

Meta's focus seems to be pivoting strongly towards AI across all its apps even though it has claimed to be also heavily focused on its metaverse projects. Earlier this year, the company set up a dedicated generative AI unit led by Chief Product Officer Chris Cox. Meta is also working on AI tools that generate better ads to target users.

By open-sourcing key models like the leaked LLaMA LLM (the world’s largest, most advanced, open source LLM available), Meta aims to catalyze innovation from developers worldwide to improve the technology. This contrasts with the closed-off approach of competitors like OpenAI. However, monetization of Meta's models remains a possibility down the line.

The flurry of AI activity comes as Meta struggles with sinking stock value and controversies around privacy and misinformation stemming from activity on Facebook, which remains the company’s biggest platform. Meta CEO Mark Zuckerberg believes that this heavy investment in generative AI aligns with the company’s vision for the metaverse and could open up new revenue streams.

Meta also recently launched Threads, a Twitter clone that is seeing rapid user growth, outpacing that achieved by OpenAI after the launch of ChatGPT. It has also proven to be adept at taking key elements of previous technologies, improving them, and creating successful products that almost kill its competitors on the ground they created.

With new models like CM3leon showing promising performance, Meta seems determined to aggressively pursue AI to reshape its future, after leaving investors unimpressed with its metaverse endeavors. The race to lead generative AI just got a new runner.

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The Great Onboarding: US Government Anchors Global Economy into Web3 via Pyth Network

For years, the crypto world speculated that the next major cycle would be driven by institutional adoption, with Wall Street finally legitimizing Bitcoin through vehicles like ETFs. While that prediction has indeed materialized, a recent development signifies a far more profound integration of Web3 into the global economic fabric, moving beyond mere financial products to the very infrastructure of data itself. The U.S. government has taken a monumental step, cementing Web3's role as a foundational layer for modern data distribution. This door, once opened, is poised to remain so indefinitely.

The U.S. Department of Commerce has officially partnered with leading blockchain oracle providers, Pyth Network and Chainlink, to distribute critical official economic data directly on-chain. This initiative marks a historic shift, bringing immutable, transparent, and auditable data from the federal government itself onto decentralized networks. This is not just a technological upgrade; it's a strategic move to enhance data accuracy, transparency, and accessibility for a global audience.

Specifically, Pyth Network has been selected to publish Gross Domestic Product (GDP) data, starting with quarterly releases going back five years, with plans to expand to a broader range of economic datasets. Chainlink, the other key partner, will provide data feeds from the Bureau of Economic Analysis (BEA), including Real Gross Domestic Product (GDP) and the Personal Consumption Expenditures (PCE) Price Index. This crucial economic information will be made available across a multitude of blockchain networks, including major ecosystems like Ethereum, Avalanche, Base, Bitcoin, Solana, Tron, Stellar, Arbitrum One, Polygon PoS, and Optimism.

This development is closer to science fiction than traditional finance. The same oracle network, Pyth, that secures data for over 350 decentralized applications (dApps) across more than 50 blockchains, processing over $2.5 trillion in total trading volume through its oracles, is now the system of record for the United States' core economic indicators. Pyth's extensive infrastructure, spanning over 107 blockchains and supporting more than 600 applications, positions it as a trusted source for on-chain data. This is not about speculative assets; it's about leveraging proven, robust technology for critical public services.

The significance of this collaboration cannot be overstated. By bringing official statistics on-chain, the U.S. government is embracing cryptographic verifiability and immutable publication, setting a new precedent for how governments interact with decentralized technology. This initiative aligns with broader transparency goals and is supported by Secretary of Commerce Howard Lutnick, positioning the U.S. as a world leader in finance and blockchain innovation. The decision by a federal entity to trust decentralized oracles with sensitive economic data underscores the growing institutional confidence in these networks.

This is the cycle of the great onboarding. The distinction between "Web2" and "Web3" is rapidly becoming obsolete. When government data, institutional flows, and grassroots builders all operate on the same decentralized rails, we are simply talking about the internet—a new iteration, yes, but the internet nonetheless: an immutable internet where data is not only published but also verified and distributed in real-time.

Pyth Network stands as tangible proof that this technology serves a vital purpose. It demonstrates that the industry has moved beyond abstract "crypto tech" to offering solutions that address real-world needs and are now actively sought after and understood by traditional entities. Most importantly, it proves that Web3 is no longer seeking permission; it has received the highest validation a system can receive—the trust of governments and markets alike.

This is not merely a fleeting trend; it's a crowning moment in global adoption. The U.S. government has just validated what many in the Web3 space have been building towards for years: that Web3 is not a sideshow, but a foundational layer for the future. The current cycle will be remembered as the moment the world definitively crossed this threshold, marking the last great opportunity to truly say, "we were early."

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US Dept of Commerce to publish GDP data on blockchain

On Tuesday during a televised White House cabinet meeting, Commerce Secretary Howard Lutnick announced the intention to publish GDP statistics on blockchains. Today Chainlink and Pyth said they were selected as the decentralized oracles to distribute the data.

Lutnick said, “The Department of Commerce is going to start issuing its statistics on the blockchain because you are the crypto President. And we are going to put out GDP on the blockchain, so people can use the blockchain for data distribution. And then we’re going to make that available to the entire government. So, all of you can do it. We’re just ironing out all the details.”

The data includes Real GDP and the PCE Price Index, which reflects changes in the prices of domestic consumer goods and services. The statistics are released monthly and quarterly. The biggest initial use will likely be by on-chain prediction markets. But as more data comes online, such as broader inflation data or interest rates from the Federal Reserve, it could be used to automate various financial instruments. Apart from using the data in smart contracts, sources of tamperproof data 👉will become increasingly important for generative AI.

While it would be possible to procure the data from third parties, it is always ideal to get it from the source to ensure its accuracy. Getting data directly from government sources makes it tamperproof, provided the original data feed has not been manipulated before it reaches the oracle.

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List Of Cardano Wallets

Well-known and actively maintained wallets supporting the Cardano Blockchain are EternlTyphonVesprYoroiLaceADAliteNuFiDaedalusGeroLodeWalletCoin WalletADAWalletAtomicGem WalletTrust and Exodus.

Note that in case of issues, usually only queries relating to official wallets can be answered in Cardano groups across telegram/forum. You may need to consult with specific wallet support teams for third party wallets.

Tips

  • Its is important to ensure that you're in sole control of your wallet keys, and that the keys used can be restored via alternate wallet providers if a particular one is non-functional. Hence, put extra attention to Non-Custodial and Compatibility fields.
  • The score column below is strictly a count of checks against each feature listed, the impact of specific feature (and thus, score) is up to reader's descretion.
  • The table represents current state on mainnet network, any future roadmap activities are out-of-scope.
  • Info on individual fields can be found towards the end of the page.
  • Any field that shows partial support (eg: open-source field) does not score the point for that field.

Brief info on fields above

  • Non-Custodial: are wallets where payment as well as stake keys are not shared/reused by wallet provider, and funds can be transparently verified on explorer
  • Compatibility: If the wallet mnemonics/keys can easily (for non-technical user) be used outside of specific wallet provider in major other wallets
  • Stake Control: Freedom to elect stake pool for user to delegate to (in user-friendly way)
  • Transparent Support: Easy approachability of a public interactive - eg: discord/telegram - group (with non-anonymous users) who can help out with support. Twitter/Email supports do not count for a check
  • Voting: Ability to participate in Catalyst voting process
  • Hardware Wallet: Integration with atleast Ledger Nano device
  • Native Assets: Ability to view native assets that belong to wallet
  • dApp Integration: Ability to interact with dApps
  • Stability: represents whether there have been large number of users reporting missing tokens/balance due to wallet backend being out of sync
  • Testnets Support: Ability to easily (for end-user) open wallets in atleast one of the cardano testnet networks
  • Custom Backend Support: Ability to elect a custom backend URL for selecting alternate way to submit transactions transactions created on client machines
  • Single/Multi Address Mode: Ability to use/import Single as well as Multiple Address modes for a wallet
  • Mobile App: Availability on atleast one of the popular mobile platforms
  • Desktop (app,extension,web): Ways to open wallet app on desktop PCs
  • Open Source: Whether the complete wallet (all components) are open source and can be run independently.

Source

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XLM: GDMJF2OCHN3NNNX4T4F6POPBTXK23GTNSNQWUMIVKESTHMQM7XDYAIZT
XDC: xdcc2C02203C4f91375889d7AfADB09E207Edf809A6

 

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