Wednesday, 1 May, 2024
AI business technology news – May 2024
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Welcome to the world of cutting-edge innovation and rapid advances in AI technology. We continuously research AI and its development, as it is essential for identifying emerging trends.
AI is evolving every day at super speeds, we try to cut through the noise and pinpoint the important and interesting information.
Click the link below to read it from the publisher or read our deeper analysis:
Monday 13th May 2024
Artisan AI Closes $7.3M Seed Funding Round – Finsmes
Arm owner SoftBank reports £1.2bn profit as it shifts towards AI – The Guardian
AI-related spending expected to comprise 10% of 2024 IT budgets – SeekingAlpha (Login)
BT incorporates AI into its cyber defense – Dataconomy
Microsoft to invest 4 billion euros in France for AI development – Reuters
Alibaba leverages cloud business to become a leading AI investor in China – FT (Paywall)
More coming soon….
Sunday 12th May 2024
AI News: Get Ready, Things Are About to Get Crazy! (YouTube) – Matt Wolfe
- Summary
- Anticipation of AI Growth: Matt expects an unprecedented wave of AI announcements soon, suggesting a significant acceleration in AI developments.
- AlphaFold 3 by Google’s DeepMind: This groundbreaking model can predict the structure of proteins, DNA, RNA, and other molecules, potentially revolutionising drug discovery and our understanding of human biology.
- Microsoft AI Developments: Mustafa Suleyman, formerly of Inflection AI, now leads Microsoft AI, focusing on developing advanced AI models, hinting at a GP4-level model being developed in-house.
- Microsoft’s AI Strategy: The relationship between Microsoft and OpenAI could evolve if OpenAI achieves AGI (Artificial General Intelligence), affecting their business arrangements.
- Investment in Infrastructure: Microsoft is investing $3.3 billion in an AI data centre in Wisconsin, expected to create thousands of jobs.
- Partnership between Stack Overflow and OpenAI: This collaboration aims to enhance AI’s coding abilities using Stack Overflow’s extensive coding data, though it has stirred some controversy among contributors.
- OpenAI’s Media Manager Tool: OpenAI plans to release a Media Manager by 2025, allowing content creators to control the use of their content in AI training models.
- Potential Google Search Competitor: OpenAI might soon announce a new product that could compete with Google Search, affecting how businesses and individuals optimise for online presence.
- AI in Creative and Media Fields: Developments include AI tools for generating music videos, handling complex editing tasks, and potentially changing content creation dynamics.
- Forthcoming AI Events and Developments: There are many AI-focused events and innovations coming up, suggesting that the pace of AI development is set to increase, impacting a wide range of industries and technologies.
Microsoft VC’s warning about AI washing – CNBC
DEEPX raises $80.5M in fresh funding to mass-produce its AI chips – SiliconAngle
Apple is finalising a deal with OpenAI over AI – Fortune
UK agency launches AI testing toolset ‘Inspect’: How it works – Newsbytes
Saturday 11th May 2024
It’s Too Soon to See AI’s Full Impact on Economy – Bloomberg
Arm Holdings plans to launch AI chips in 2025 – Reuters
What C-suite leaders say about responsible genAI at scale – Kyndryl
GenAI can reduce information overload, increase loyalty and sales – CSA
GenAI is everywhere – but policy is still missing – Computer Weekly
Apple Will Revamp Siri to Catch Up to Its Chatbot Competitors – The New York Times
Shopify has acqui-hired AI startup – Business Insider (Paywall)
Friday 10th May 2024
AI disrupting the enterprise – CIO
Reebok explore AI for personalised shoe design – Marketing Drive
The AI chip wars have gone nuclear – Yahoo finance
Business AI spend set to continue rising – TechRadar
Will AI have an impact on growth – FT
AI Safety Institute releases new AI platform – UK Gov
OpenAI looking to challenge Google search – Reuters
Thursday 9th May 2024
Currys teams up with Microsoft for AI – Microsoft
AI Squared acquires Multiwoven for AI business insights – AI Squared
Fairgen raises $8M for AI survey technology – Fairgen
Elite athletes invest in analytics-powered nutrition app – Tech.EU
Wednesday 8th May 2024
Checkfirst raises $1.5M for AI audit tech – TechCrunch
Apple release M4 chip – Wired
Google releases AlphaFold 3 – Google
OpenAI’s Model Spec outlines some basic rules for AI – The Verge
Panax raises a $10M for cash flow forecasting – TechCrunch
State of AI at work – Microsoft
Tuesday 7th May 2024
Toyota to invest $13bn in EVs, AI and supply chain – Nikkei Asia
This year’s Met Gala theme is AI deepfakes – TechCrunch
AI can help people keep physical jobs for longer – BBC
Nvidia Launches ChatRTX Chatbot for RTX GPUs – ExtremeTech
Monday 6th May 2024
Google’s AI plans now include cybersecurity – The Verge
Amazon records largest quarterly operating profit, boosted by AI – Coingeek
- Summary: Amazon has reported its largest quarterly operating profit, driven by its focus on artificial intelligence (AI). The company’s revenue reached over $140 billion in the first quarter, with CEO Andy Jassy attributing the success to the growth of Amazon Web Services (AWS), its cloud computing division, and the increasing demand for AI services.
- Thinking: These are impressive figures. Amazon is in a ‘prime’ position to capitalise on the rise of cloud-based AI growth. As more businesses investigate the advantages of AI, they will seek platforms that enable them to fulfil their business objectives.
- Keywords: AI, Finance, Cloud
Oracle’s Bet on Generative AI – Pymnts
Elon mentioned that AI may use more SpaceX in future – Business Insider
Sunday 5th May 2024
New financial AI assistants to be launched by Wipro, Microsoft – CIO
- Summary: Wipro and Microsoft are collaborating to launch a suite of cognitive assistants for financial services, powered by generative artificial intelligence (GenAI). These assistants will provide financial professionals with market intelligence and timely information on investment products and investor behaviour, enabling them to deliver personalised and efficient services to clients.
- Thinking: Financial assistants will be prevalent in the future as they combine the ability to obtain the latest knowledge with the ability to deliver it in a personalised way.
- Keywords: Finance, Agents, AI
Microsoft is developing new AI model to rival Google, OpenAI – NewBytes
- Summary: Microsoft is working on a new AI language model called MAI-1 to compete with Google and OpenAI’s models. Mustafa Suleyman, a co-founder of Google DeepMind and a former CEO of AI startup Inflection, is in charge of the project.
- Keywords: AI, Tech
Palantir looks to AI to boost earnings – Barron’s
CERN uses artificial intelligence – Gagadget
Google DeepMind Introduces Med-Gemini – Marketpost
Saturday 4th May 2024
How generative AI will unlock big value in the Big Apple (Report)
- Summary: A new report predicts that artificial intelligence (AI) will contribute $320 billion to New York City’s economy by 2038. The report highlights the city’s existing talent pool of 40,000 AI professionals and executives’ efforts to attract more talent, as well as the potential for AI to automate or augment two-thirds of New Yorkers’ working hours within 15 years.
- Keywords: GenAI, AI
Penn Engineering announces first Ivy League Master’s degree in AI – MSN
Chile launches national AI policy – UNESCO
FINOS launches open-source AI initiative for Financial Services – MSN
Friday 3rd May 2024
JPMorgan Chase Unveils AI-Powered Tool for Thematic Investing – Pymnts
- Summary: JPMorgan Chase has introduced an AI-powered tool called IndexGPT for thematic investing. The tool uses OpenAI’s GPT-4 model to generate thematic investment baskets by analysing keywords associated with specific themes and identifying relevant companies through natural language processing, aiming to provide a more accurate and efficient approach to thematic investing.
- Keywords: AI, Finance
Thursday 2nd May 2024
Microsoft releases AI transparency report – Microsoft (PDF)
- Summary: Microsoft released its inaugural transparency report, highlighting its efforts in responsible AI in 2023. The report showcases achievements such as creating 30 responsible AI tools, adding content credentials to image generation platforms, and expanding red-teaming efforts for third-party testing.
- Keywords: AI, Governance
AI iPhones could liven up Apple sales – FT
Japan unveils framework for global regulation of GenAI – AP
Four start-ups lead China’s race to match OpenAI’s ChatGPT – FT
Wednesday 1st May 2024
Microsoft to invest $2.2 billion in cloud, AI services in Malaysia – AP (Video)
Amazon sales surge as company trains focus on AI – Fox news
Sam’s Club implementing AI to speed up checkouts – USA today
- Summary: Sam’s Club is implementing AI technology in all of its nearly 600 stores by the end of the year to confirm purchases and eliminate the need for physical receipt checks, allowing customers to leave the store 23% faster. This rollout is said to be the largest-scale implementation of member-facing AI-powered technology in the retail industry.
- Keywords: AI, Tech
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