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Home»Technology
Technology

Bitkraft Raises Third Fund for Interactive Content, Develops Text-to-Video and AI Voice Cloning Technology

April 5, 2024No Comments3 Mins Read
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OpenAI’s Voice Cloning AI App, Voice Engine, is causing concern due to its potential for misuse. The AI model can generate speech mimicking a speaker’s voice from a 15-second audio sample, which could have various applications such as educational aids and support for non-verbal individuals. Although OpenAI is being cautious and allowing only a small number of businesses to test the tool, the possibility of others using similar technology poses a risk. The concern is raised that if other companies develop similar tools without issuing a press release, it could lead to widespread misuse of voice cloning technology.

Higgsfield AI, led by former Snap head of AI Alex Mashrabov, has launched Diffuse, a mobile app that generates videos from text prompts and can feature selfies in clips. The app is set to be available for free in a soon-to-be-launched beta version, with plans to charge social media content creators and marketers in the future. Another product, Sora, is currently being tested by media professionals but is expected to be priced for media companies rather than individuals. The company’s funding, totaling $8 million, comes from a seed round led by Menlo Ventures.

Bitkraft Ventures has raised $275 million for their third interactive fund, which will focus on investing in studios, platforms, and technology in the gaming and interactive media industries. The venture fund is specifically targeting seed and Series A stage startups and currently operates six funds with 130 portfolio companies, including popular names like Frost Giant, Anzu, and Immutable. With gaming and interactive media continuing to grow in popularity, Bitkraft Ventures aims to support innovative startups in the industry.

Meta’s Reality Labs recently celebrated the 10th anniversary of their acquisition of Oculus VR, a move that was initially met with skepticism but has proven to be successful. Meta now invests over $10 billion annually in XR efforts, exploring advancements in virtual reality and augmented reality. CTO Andrew Bosworth oversees Reality Labs and highlights the ongoing challenges with creating displays in regular glasses, but notes the potential of AI integration in wearables like smart glasses to revolutionize XR experiences.

Apple has enhanced its Spatial Personas feature for the Vision Pro headset, improving the real-time scan of users’ faces and expressions. Initially launched with limited capabilities, the upgraded Persona feature now offers a more immersive experience with enhanced head, shoulder, and hand tracking. The column, previously known as “This Week in XR,” is also available as a podcast featuring industry experts discussing the latest developments. This week’s guest is Maureen Fan, CEO of Baobab Studios, and the podcast is accessible on Spotify, iTunes, and YouTube.

In addition to the latest tech news, recommendations for reading material are provided, including discussions on AI’s potential impact on society and reviews of the best Sora videos. As technology continues to advance, concerns about potential misuse and the importance of responsible development and deployment of AI tools remain at the forefront of discussions within the tech industry. With companies like OpenAI, Higgsfield AI, Bitkraft Ventures, Meta, and Apple driving innovation, it is essential to balance progress with ethical considerations to ensure the safe and responsible use of emerging technologies.

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