Top Tech News: OpenAI’s GPT-4 is the new chatbot that did well on the LSAT, GRE, and all major exams. The fall of US banks has no long-term impact on crypto firms.

OpenAI company claims GPT-4 is the ability to handle more complex instructions than GPT-3.

Good morning tech fam, here are some quick tech updates for you to catch on to!

What's New Today: Meta, owned by Facebook, fires 10,000 more workers in a new round of layoffs.

Fast-Track Insights: The fall of US banks has no long-term impact on crypto firms, but investors are uncertain.

OpenAI introduced ChatGPT, an artificial intelligence chatbot based on the language model GPT-3.5, about six months ago. The bot's remarkable capabilities caused the internet to go wild. ChatGPT demonstrated its superiority in a variety of tasks, including being asked to write poetry and code and passing the MBA exam at Wharton. Soon after, developers were also given access to ChatGPT's API and a premium version. Since then, the chatbot has made significant progress, as numerous businesses have implemented the AI chatbot and integrated ChatGPT into their tools. Additionally, an improved version of the language model is now available. Since the introduction of GPT-4 by OpenAI, it has not only passed several tests, but it has also aced them like a bright new student in a classroom.

Machine learning, deep learning, and artificial intelligence are just a few of the significant technological advancements that have proven to be beneficial to the healthcare sector. In the past, it was thought that collecting and analyzing health data took a long time and was prone to errors; however, the development of these technologies has made it easier to do so while also producing accurate results. Additionally, integrating AI into the healthcare ecosystem has eased the workload of healthcare professionals by automating administrative tasks like insurance pre-authorization and record keeping, both of which required significant effort.

In addition, early disease detection thanks to machine learning have made it possible for patients to target prompt treatment and cure, resulting in fewer hospital readmissions. Additionally, the emergence of AI-enabled chatbots has revolutionized the way medical procedures are carried out, facilitating professional interaction with patients and accelerating supply and delivery and healthcare jobs. McKinsey estimates that the client's perception of how they are being treated influences 70% of purchases. Smart customer service strategies that make use of AI-powered tools like chatbots, voice search, and virtual assistants are now a top priority for a lot of startups.

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According to officials from several exchanges, the collapse of Silvergate Bank, Silicon Valley Bank (SVB), and Signature Bank in the United States may cause short-term liquidity issues, but it will not have a significant impact on the Indian cryptocurrency market in the long run. Cryptocurrency is considered favorable by all three banks. SVB provided services like lending and custody of cryptocurrencies.

Silvergate Bank was notable for offering banking administrations to the crypto business. It developed a specialized platform that made it possible for businesses and exchanges to keep deposits in a variety of cryptocurrencies and use them to facilitate transactions and other activities. Signet, the blockchain-based payments platform offered by Signature Bank, made it possible for customers to move funds quickly and without incurring costs.