GPT-4o

David

Billion

Humane Inc., the maker of Ai Pin, a screenless wearable powered by artificial intelligence, is reportedly looking to sell its business for $750 million to $1 billion.
Humane was valued at <a href="https://www.theinformation.com/articles/has-humane-created-the-next-iphone-or-the-next-google-glass" rel="noopener noreferrer nofollow" target="_blank">$850 million</a> in 2023 but potential takers may revisit the valuation as performance issues have taken points away from the launch product’s futuristic billing.
“The company is working with a financial adviser to assist it,” Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-05-22/wearable-ai-startup-humane-is-said-to-explore-potential-sale?embedded-checkout=true" rel="noopener noreferrer nofollow" target="_blank">reported</a> yesterday, citing inside sources. “The process is still early and may not result in a deal.”
Also read: <a href="https://www.cryptopolitan.com/europes-ai-act-gets-final-approval/" rel="noopener noreferrer nofollow">Europe’s AI Law Gets Final Approval With Up To $38M Fines</a>
<h2 id="ai-pin-broken-in-so-many-ways">Ai Pin ‘Broken in So Many Ways’</h2>
Humane was formed in 2018 by Apple veterans and spouses, Imran Chaudhri and Bethany Bongiorno. The start-up has raised $230 million from investors including OpenAI CEO Sam Altman.
Humane’s flagship product, Ai Pin, debuted to <a href="https://www.cryptopolitan.com/marques-brownlee-humane-ai-pin-review-rounds/" rel="noopener noreferrer nofollow">unfavorable reviews</a> a few weeks back. One reviewer who tested the pin for two weeks <a href="https://www.theverge.com/24126502/humane-ai-pin-review" rel="noopener noreferrer nofollow" target="_blank">concluded</a> that “Ai Pin is an interesting idea that is so thoroughly unfinished and so totally broken in so many unacceptable ways.”
The $699 gadget was first <a href="https://youtu.be/gMsQO5u7-NQ" rel="noopener noreferrer nofollow" target="_blank">announced</a> in November and started shipping in early April. Billed as the post-smartphone future, Ai Pin is a computer that is magnetically worn into the user’s clothing and projected to the palm rather than having a screen.
Its novel features include a heavy role for the voice command, real-time translation, holding up objects, using gestures and weighing the nutritional content in the user’s hands – a feature that is set to extend to other uses.
The <a href="https://twitter.com/Humane/status/1722668651705430154?t=ku-bObtqSg-AabnF1oqhbQ&amp;s=19" rel="noopener noreferrer nofollow" target="_blank">Ai Pin</a> comes with two battery boosters, a charging pad, a charging case, a cable and an adapter. It runs on a Snapdragon processor and an AI model powered by OpenAI’s GPT-4 technology.
<iframe title="The Disappearing Computer — and a World Where You Can Take AI Everywhere | Imran Chaudhri | TED" width="800" height="450" src="https://www.youtube.com/embed/gMsQO5u7-NQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
<h2 id="critics-question-humane-s-valuation">Critics Question Humane’s Valuation</h2>
According to Humane, the pin is meant to help people improve their productivity, using hands-free voice commands to make calls, send texts, or access information from the internet.
The San Francisco-based company’s selling point is a disruptive proposition in an artificial intelligence hardware space in its early phase.
Following the Ai Pin’s public launch in April, critics started to <a href="https://www.theverge.com/2024/5/21/24162185/humane-seeking-acquisition-rumor-ai-pin" rel="noopener noreferrer nofollow" target="_blank">question</a> the $750 million to $1 billion asking price for a “broken pin” with “underbaked hardware” and “unresponsive software.”
<blockquote>
 “Using the Ai Pin feels like wishing on a star: you just close your eyes and hope for the best. Most of the time, nothing happens,” said The Verge’s editor-at-large David Pierce, who tested the pin.
</blockquote>
Humane said it is improving areas such as battery life, device overheating, accuracy and response time. Last week, the company upgraded the product’s AI wiring with the <a href="https://www.cryptopolitan.com/openai-unveils-chatgpt-4o/" rel="noopener noreferrer nofollow">GPT-4o</a> model.
Also read: <a href="https://www.cryptopolitan.com/humane-ai-pins-failures-drive-apple-to-reply/" rel="noopener noreferrer nofollow">Humane Ai Pin’s Stumbles: A Catalyst for Apple’s Innovation Strategy</a> 
The wearable does not allow users to use existing phone numbers, coming with a unique phone number and cellular coverage from T-Mobile at a monthly subscription of $24. Wireless connectivity is provided by Humane’s mobile virtual network operator.
Cryptopolitan Reporting by Jeffrey Gogo

Humane Aiming For $1 Billion Sale After Bumpy Ai Pin Launch

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