Top Tech News Today: Twitter Chaos Continues: More Layoffs, Impossible Deadlines, and Doubts About the Platform’s Future. The ChatGPT Craze Has Resulted the Increase in Crypto Scams

Despite announcing an end to layoffs, Elon Musk has continued to terminate employees! Read more tech news

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

What's New Today: A Billion-Dollar Search Issue is Presented to Tech Giants by AI Like Bing and Bard.

Fast-Track Insights: To Combine Several Company Units Under Polygon Labs, It Has Reported Cutting 20% of the Workforce, Or About 100 People.

Even after forcing out roughly two-thirds of the workforce in just a few weeks, Elon Musk has continued to fire Twitter workers, despite declaring at a meeting on November 21 that layoffs would stop. Musk wants to change Twitter's ad targeting system to be more like Google's, which bases its ads mainly on keywords entered into search engines rather than a user's activity or profile information. This strategy has worked well for search engines, where users look for specific information, but it hasn't yet shown to be successful for social media companies. Marcin Kadluczka, who was recently fired from his position as engineering manager for monetization at Twitter, stated in a tweet on Saturday that he thought Elon Musk's one-week deadline was unrealistic and that it would actually take Twitter two to three months to improve its ad skills.

As Alphabet Inc. moves past a chatbot blunder that reduced its market value by $100 billion, a new issue is emerging from its attempts to integrate generative artificial intelligence into its well-known Google Search: the price. Technology sector executives are debating how to use ChatGPT-style AI while taking the high cost into consideration. According to the startup's CEO Sam Altman on Twitter, the highly popular chatbot from OpenAI, which can draught prose and respond to search queries, has "eye-watering" computing costs of a few or more cents per conversation. According to Alphabet's Chairman John Hennessy in an interview with Reuters, fine-tuning a big language model exchange with AI will probably cost 10 times as much as a typical keyword search.

ChatGPT can answer any question. That's right. A functionality tech companies are drinking in with enthusiasm so much so that Google's Bard got itself into controversy in its very first demo. What if we say search engines will be run by such AI chatbots? It is a scary enough proposition but it is happening. ChatGPT, Bard, Ernie, are only a few names that are discussed frequently but in reality, there are many other minor chatbots that are being developed exclusively for search engine functions. Going by the reputation OpenAI's ChatGPT has gained, we can say that the bots have the potential to be versatile and fluent, generating context-specific responses when compared to the normal search engine generated random and related responses expressed via the endless number of blue links. Read More

Scammers are attempting to capitalise on the buzz that the ChatGPT artificial intelligence chatbot has generated in the tech community by issuing phoney tokens that bear the ChatGPT moniker. These tokens are unofficially unrelated to the tool itself, and scammers are taking advantage of the publicity to benefit quickly. Microsoft's chatbots are distinct from ChatGPT's, despite the fact that OpenAI chatbots have been incorporated into its search services. Unfortunately, con artists have produced fake coins, like "BingChatGPT," and even provided liquidity to them. Some of these tokens are seeing high trading rates and thousands of dollars in profits despite numerous warning signs. According to the sources, Blockchain security firm Peckshield has discovered dozens of newly-created BingChatGPT tokens, some of which appear to be honeypots or have high sell tax, meaning that a user may be giving up a large portion of their funds unknowingly.

A 20% headcount reduction was revealed by Polygon Labs, affecting about 100 employees. The company stated that earlier this year it "consolidated numerous business units" under the Polygon Labs name. According to a company statement, "as part of this process, we're sharing the difficult news that we've reduced our team by 20%, affecting several teams and about 100 jobs." According to the company's founders, "we have crystallised our strategy for the next several years to help drive widespread adoption of web3 by scaling Ethereum," they added. The company's treasure is still strong, with a balance of more than $250 million and more than 1.9 billion MATIC.