Homebase
October 10, 2024
Weekly AI Recap: Revolutionizing Global Journalism: Alchemiq's AI Co-Pilot Tackles $40 Billion Industry Challenges
Explore how Alchemiq is revolutionizing journalism with AI, plus the latest AI news headlines, video enhancer trends, and insights from tech leaders building game-changing companies.
Welcome to Homebase Edition #23 - A weekly newsletter bringing you stories & insights from smart founders & tech leaders who are leveraging AI to build game-changing companies.
What’s on tap today:
Our interview with Orr Hirschauge from Alchemiq
Weekly AI Headline Recap
What's trending in AI
AI FOUNDER SPOTLIGHT
AI Transforms Newsrooms: Alchemiq's Vision for Diverse Global Journalism
While everyone's debating AI's impact on journalism, Orr Hirschauge is tackling a pressing media problem: uniform news coverage. His startup, Alchemiq, uses generative AI to transform newsrooms, promising more diverse and nuanced global news coverage.
Hirschauge, with nearly 20 years of experience in US and Israeli media, co-founded Alchemiq with Yaron Oliker in 2024. Spotting a gap between local and international news coverage, they pivoted from a consumer-facing platform to partnering directly with newsrooms. Their AI-powered tools for story discovery and multilingual news tracking are now assisting journalists across languages and regions.
What they've achieved so far:
💰 Raised $200K in funding
💼 Reached $100K in annual revenue
🌐 AI-powered multilingual news tracker
🚀 Pivoted from a consumer-facing platform to partnering directly with newsrooms
🔧 Created a generative AI suite that's already received positive industry feedback
🤝 Offering both SaaS and managed service models to meet diverse client needs
They are bridging the gap between local and international news by processing vast amounts of multilingual information with AI. This approach offers more nuanced and comprehensive views than traditional methods, fusing diverse news streams to create a new form of news gathering that benefits both journalists and readers.
How they did it:
Leveraged intimate knowledge of industry challenges to identify market gaps
Offered both SaaS and managed service models, finding them complementary
Used LLMs to create a new kind of news knowledge graph
Focused on deeply integrating AI into the editorial process while keeping journalists central
Key Highlights:
Solving the disconnect between local news (lacking broader context) and international news (lacking nuance and on-the-ground reportage).
Creating a platform that acts as a co-pilot for editors and journalists, assisting with story discovery and research.
Developing a news tracker capable of processing vast amounts of multilingual information.
Aiming to be at the center of the gen AI transformation in journalism and brand journalism within 10 years.
Envisioning a better-informed world across languages and regions.
Planning to become the main source for news tracking in news organizations and a major news creation platform in 3-5 years.
Full story here! 🔥🔥🔥
HEADLINE ROUNDUP
Headline recap
OpenAI's $157B Valuation Sparks AI Gold Rush: Startup Funding Frenzy Intensifies! (CNET)
AI Legal Unicorn EvenUp Bags $135M: Justice Gets a Digital Upgrade! (CB)
KoBold's $491M AI Treasure Hunt: Robot Prospectors Strike Investor Gold! (TC)
Ex-Amazon Titan's $100M AI Gambit: Supply Chains Get a Brain Transplant! (F)
Meta's APAC AI Accelerator: 100 Startups Get Zuckerberg's Golden Ticket! (ATD)
TRENDS
What's trending in AI
AI Video Enhancers - Automated High-Quality Video Production
Market Value: Projected to exceed $1 billion by 2032
Adoption: 91% of businesses using video in marketing
Key Players: Hitpaw, Vmake, Flixier, Topaz Labs, Media.io
Growth: Rising demand across industries
A growing number of startups are developing AI tools to enhance video quality. These AI-powered tools automatically upscale low-quality videos to resolutions as high as 16K, stabilize footage, remove backgrounds, and adjust colors and sharpness.
Why it matters: The billion-dollar market prediction shows high demand for AI-assisted video production. Many marketers lack time to create or edit videos, making AI enhancers crucial for efficiency. This technology addresses time constraints in content creation across various sectors.
The big picture: Growth areas include advancing AI algorithms for video processing, developing industry-tailored solutions, and enhancing computing power to handle complex video tasks efficiently. At the same time, new trends are emerging: Text-to-Video Tools, Short-Form Video Editors, AI-Powered Content Generating Tools, and many more. This creates a fertile ground for innovators to develop comprehensive AI-driven ecosystems in video production and editing, making it faster, more accessible, and more creative across various sectors.
WEEKLY HUMOR
Is this where Sam Altman is headed?
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