AI funding doubles

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Funding to AI startups ‘more than doubled’ in Q2 

Bumble Introduces New Tool to Report AI-Generated Profiles

🤝 ChatGPT for brainstorming

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Funding to AI startups ‘more than doubled’ in Q2 

Startups around the world experienced a bit of a surge in funding in the second quarter of 2024, according to Crunchbase data published Tuesday

The details: Crunchbase found that total funding for the quarter reached $79 billion, a 16% increase from the previous quarter. 

  • AI represented the largest sector in the quarter; funding to AI companies — at $24 billion — made up some 30% of the total. 

  • This spike in AI funding marks the largest single-quarter raise in recent years. It came in at more than double the funding the sector received the previous quarter. 

Why it matters: The surge in funding comes — as Crunchbase noted — despite an “uncertain” market. 

Concerns about revenue generation have been mounting, as we break down below. Analysts at Citigroup, meanwhile, said recently that it’s time for investors to start taking profits in the biggest AI names, expecting “significantly more volatility” ahead. 

But the venture side of things seems as excited about AI as ever. It will be interesting to watch the way funding data swings over the next quarter or two. 

Bumble Introduces New Tool to Report AI-Generated Profiles

Bumble has introduced a new reporting option for users to flag profiles suspected of using AI-generated photos and videos.

This move aims to curb the rise of deceptive AI-generated profiles on the platform. Users can now report such profiles under the "Fake profile" category. This initiative is part of Bumble's broader efforts, including the "Deception Detector" tool launched in February, which has significantly reduced fake profile reports.

Bumble's Vice President of Product, Risa Stein, emphasized the importance of maintaining a safe and trustworthy environment for meaningful connections. Bumble's founder, Whitney Wolfe Herd, also envisions AI playing a larger role in the future of online dating.

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AI for Brainstorming Ideas

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This tool enhances the brainstorming process, sparking creativity and offering diverse perspectives. Perfect for entrepreneurs, marketers, writers, and teams, it boosts productivity by delivering a wealth of ideas that can be refined and implemented.

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Brainstorm ideas for [Topic/Challenge]. Generate a list of creative concepts, potential solutions, and innovative approaches. Ensure the ideas are varied and the tone is [Creative/Inspirational] for [Target Audience].

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