Thursday, 1 February, 2024

  • AI business news February 2024

AI business technology news – February 2024

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News Headlines

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News articles and further thinking

 

Mainframes Out, Cloud and AI In – The New Era of Financial Services – 29/2/2024

Financial services firms are increasingly shifting away from traditional mainframe systems towards cloud services due to the rise of generative AI technologies, with 91% of respondents reporting board-level support for this transition. The emergence of generative AI is seen as a key factor driving this shift, with 63% of respondents stating that it has decisively facilitated their migration to the cloud and 45% already integrating AI into their technology stacks. [ITpro]

 

Nasdaq reaches new high buoyed by AI – 29/2/2024

The Nasdaq index in America has reached a new high, attributed to optimism over AI. The Nasdaq rose 0.9% to 16,091.92, rebounding from a slump in 2021. Investors are buying up shares of companies like Nvidia, which are expected to benefit from AI. The Dow Jones and S&P 500 also experienced recovery, with the Dow Jones ending 0.1% higher at 38,997 and the S&P 500 up 0.5% at 5,096.27. Major companies like Nvidia, Microsoft, AMD, and Dell also rose. The gains come as investors anticipate the US central bank lowering its key interest rate soon. [BBC]

 

Apple publicly declares its full commitment to AI – 29/2/2024

Apple CEO Tim Cook recently shared the company’s ambitions around AI, specifically highlighting their significant investments in generative AI technology, which they believe will bring transformative opportunities for productivity and problem-solving. Despite being late to the generative AI market compared to other tech giants like Microsoft and Google, Apple is expected to unveil its advancements in this field at its upcoming World Wide Developer Conference, potentially integrating AI into various software and services like iOS 18 and watchOS 11. [The Street]

 

90% of enterprises are currently experiencing limitations integrating AI – 28/2/2024

New research reveals that a majority of enterprises are facing challenges integrating AI into their tech stack, with issues such as disconnect in AI integration strategies posing a potential threat to successful implementation. The study highlights the importance of centralizing on a solution built for the age of AI to effectively manage the functionality of various AI features and unify technical teams for optimal outcomes in business processes. [Tray]

 

Use of AI in workplace increases 24% – 28/2/2024

AI adoption in the workplace has increased by 24% in the last quarter, with 1 in 4 desk workers trying AI tools for work. The research by the Workforce Lab from Slack also highlights the potential for AI and automation to help desk workers shift focus from low-value tasks to more high-value activities, with around 80% of AI users reporting improved productivity. [Slack]

 

Bioptimus raises $35m to advance AI in biological sciences – 28/2/2024

Bioptimus, a French AI firm, has secured $35 million in seed funding to advance AI applications in biological sciences, aiming to revolutionise biological research for improved human health and longevity by leveraging recent AI advancements and recruiting top talents in AI and biological sciences. Despite facing challenges like limited training data and high GPU costs, Bioptimus emphasises ethical AI applications and transparency, with a leadership team including co-founder Jean-Philippe Vert and CTO Rodolphe Jenatton, a former Google senior research scientist, driving the company towards a future combining AI and biotech through innovative approaches and strategic partnerships. [Baseline Mag]

 

We’re already using AI more than we realise – 28/2/2024

AI is becoming more and more integrated into daily activities, but many people are unaware of its prevalence and impact. The development of AI technologies like machine learning and deep learning has enhanced products and services by automating decisions based on data patterns, highlighting the need for increased awareness to facilitate informed discussions about AI’s ethical implications and regulation. Interesting video by Vox. [Vox – Youtube]

Quick summary of video

  • Artificial intelligence is seamlessly woven into our daily routines, whether through smartwatch usage or when exploring suggested content on Netflix.
  • According to a Pew survey, Americans accurately recognise AI usage only 60% of the time, suggesting a limited awareness of AI’s widespread presence.
  • Approximately half of the participants indicated they do not frequently engage with AI, despite the significant online activity of American adults.
  • The term “artificial intelligence” has evolved to encompass a wide range of technologies, which can make it challenging for individuals to identify AI in their everyday tools and services.
  • The development of AI has progressed from programming-specific tasks to machine learning, allowing computers to learn from data and improve their ability to handle complex tasks.
  • Machine learning and deep learning have greatly enhanced product and service performance by automating decisions using data patterns.
  • AI is utilised in various important areas such as political advertising, job qualifications, and loan approvals, frequently mirroring current biases.
  • It is crucial to address the gap in AI awareness, as it impacts public engagement in conversations regarding the ethical and moral boundaries of AI.
  • It is essential to raise awareness about AI to facilitate better discussions on its uses and impacts.
    The video highlights the significance of acknowledging AI’s impact on daily life to encourage a well-informed and active public dialogue on its utilisation and oversight.
 

Q4 Artificial Intelligence & Machine Learning VC Report – 28/2/2024

Despite a consistent level of VC activity during the downturn, the AI sector saw a decline in deal count, with tech giants playing a significant role in supporting GenAI deals. The market saw a record-setting $33.0 billion raised in 2023, driven by horizontal platforms, while vertical applications regressed to 2020 levels, and M&A activity in Q4 was lower compared to previous quarters, with tech giants focusing more on partnerships than acquisitions in the AI space. [Pitchbook]

 

Dun & Bradstreet Data-Driven Resilience Report – 27/2/2024

Dun & Bradstreet data report released. It emphasises the significance of data quality and management within organisations, specifically addressing the obstacles and advantages of allocating resources to AI and data projects. Organisations hesitate to adopt AI despite its potential benefits in supporting business objectives, citing obstacles like incompatibility with current systems, high costs, and data privacy issues. [D&B]

 

JPMorgan tops AI adoption list – 27/2/2024

JPMorgan Chase is leading the global AI adoption race, with a high AI adoption score and a focus on transparency and ethical practices in deploying AI technologies. The bank has a team of over 200 AI researchers and has significantly increased its share of AI research output, positioning itself as a frontrunner in AI-driven innovation within the banking sector. Other notable contenders in the global AI race include Capital One and Royal Bank of Canada, with North American banks dominating the market share in global AI activities and Canada emerging as a significant contender in the AI ecosystem. [Stocklytics]

 

Mobile and telecom focuses on AI with AI-RAN – 26/2/2024

At the 2024 Mobile World Congress, the AI-RAN Alliance was launched to integrate AI into telecom operations and bridge the gap between traditional telecom infrastructure and AI to create new telecom business opportunities, especially with 5G and 6G networks. The alliance of leading companies and industry players will develop use cases, guidelines, and best practices to improve radio access network efficiency and performance using AI to address 5G infrastructure issues like data availability and connectivity. [Silicon Angle]

 

Mistral launches LLM that rivals GPT-4 and Claude 2 – 26/2/2024

Paris-based AI startup Mistral AI is launching Mistral Large, a large language model designed to rival top-tier models like GPT-4 and Claude 2, along with a new chat assistant called Le Chat available in beta. Alums of Google’s DeepMind and Meta founded Mistral AI, which is using a business model akin to OpenAI’s and offering Mistral Large through a paid API with usage-based pricing that is currently more affordable than GPT-4. Mistral also announced a deeper partnership with Microsoft. [Tech crunch]

 

Leadership in the age of AI – 25/2/2024

Interesting discussion where Paul Hudson and Lindsay Levin discuss the impact of AI on leadership and business strategies, highlighting the need for organisations to embrace AI at scale to stay competitive in the fourth industrial revolution. They emphasise the importance of overcoming fear and resistance towards AI, promoting a mindset shift towards leveraging artificial intelligence for decision-making, and creating more meaningful work opportunities.. [TED talks]

Quick summary of video

  • AI Integration at Scale: Sanofi aims to be a leading pharmaceutical company by utilizing AI extensively, with 23,000 employees using AI monthly and 9,000 daily, embracing the fourth industrial revolution despite organisational resistance.
  • Strategic AI Application: Their approach includes providing daily decision intelligence to enhance effectiveness and efficiency, demonstrating AI’s practical benefits and the privilege of engaging with such technology.
  • Challenges and Misconceptions: Surprises in AI adoption include executive hesitation centered around governance and controls, highlighting a general fear and misunderstanding of AI’s role and potential, contrasting with its transformative promise.
  • Data Transparency: The radical transparency enabled by AI disrupts traditional hierarchical information flows, allowing insights to be shared simultaneously across organizational levels, challenging conventional management practices.
  • Workforce Mindset Shift: Emphasising AI’s role in generating meaningful work rather than job displacement, encouraging a focus on insights and action over traditional data processing tasks, likening its impact to that of the internet and mobile phones.
  • Leadership and Talent Dynamics: Younger talent challenges traditional leadership paths by leveraging AI expertise, leading to an inverted hierarchy where experience with AI is valued over traditional career trajectories.
  • Sustainability and Healthcare: Addressing sustainability, particularly in healthcare, as a critical area where AI and leadership can drive significant changes, including reducing carbon footprint and improving drug delivery methods.
  • Collaboration and Social Responsibility: Highlighting the necessity of cross-industry collaboration and a collective approach to address environmental challenges, moving beyond competitive advantages to focus on global well-being.
  • CEOs’ Social and Value Alignment: The increasing expectation for companies to align with and act on social values, recognizing the complexity of leading a values-driven organization amidst diverse and often divided employee perspectives.
  • Leadership in the AI Era: Describes the evolving role of CEOs who must navigate rapid technological advancements, societal challenges, and the expectation to deliver transformational leadership that embraces AI and sustainability.
 

Figure AI secures $675 for developing humanoid robots – 25/2/2024

AI startup ‘Figure AI’ has secured $675 million in funding from investors like Jeff Bezos and Nvidia to develop humanoid robots powered by artificial intelligence, aiming to advance manufacturing capabilities and address labour shortages and workplace safety concerns. The company’s recent funding round, backed by Big Tech firms and investors, has boosted its value to approximately $2 billion pre-money, showcasing the growing interest in robotics startups incorporating AI technology.. [Techspot]

 

AWS to include Mistral open source AI models into Amazon Bedrock – 24/2/2024

AWS will incorporate Mistral open source AI models, specifically Mistral 7B and Mixtral 8x7B, into Amazon Bedrock, their managed service for generative AI offerings and application development. These models are known for their efficiency, performance, and support for various use cases, and the decision aligns with AWS’s focus on cost-performance balance, fast inference speed, transparency, and accessibility in AI models. [Venturebeat]

 

Capgemini acquire digital twin company Unity – 24/2/2024

Capgemini has acquired Unity, a prominent digital twin company to strengthen its expertise in real-time 3D visualisation software for industrial digital twin applications. [Capgemini]

Further thinking – Digital twin technology is super useful in business as it allows users to create a virtual copy of a physical object, system, or process, utilising real-time data to model performance in different situations. It helps businesses by allowing predictive maintenance, optimising operations, and improving decision-making processes using insights from virtual simulations. Given the complexity of business today, having methods to allow executives to explore future options, reduce risk and increase critical decision-making is imperative. This is a great move by Capgemini.

 

NVIDIA valuation reaches $2 Trillion – 24/2/2024

Nvidia, a leading AI chip firm, has reached a market value of $2 trillion, driven by the increasing demand for chips due to advances in AI. The company’s rapid growth and market value surge have positioned it as the world’s fourth most valuable publicly traded company, showcasing its pivotal role in the spread of AI-powered technology across various industries. [BBC]

 

Google unveils Gemma: LLMs that run on personal computers – 23/2/2024

Google has introduced Gemma, a family of open large language models available in two sizes: two billion and seven billion parameters, designed to run on personal computers. These models outperformed competitors in benchmark tests and were trained on filtered internet text. Google utilised instruction tuning and reinforcement learning with human feedback to enhance the models’ responses. While not technically open source, Google has made the pre-trained models accessible, along with toolkits supporting fine-tuning and inference in various machine learning frameworks. [Google]

Further thinking – This represents a significant step towards on-premises (on prem) and edge (on chip) AI computation. Their collaboration with NVIDIA is central to this strategy, as it ensures that AI is integrated into the processing. This integration of AI and technology is already generating numerous opportunities for innovation and growth.

 

Salesforce launches powerful AI insights tool – 23/2/2024

Salesforce’s Tableau Pulse introduces AI-powered insights in natural language and visual formats, enhancing data analysis with features like trend detection and natural language alerts. The tool, incorporating generative AI through the Einstein Trust Layer, aims to improve decision-making processes for business users by providing secure and efficient analytics. [Salesforce]

 

Intel launches AI-focused foundry – 22/2/2024

Intel has launched Intel Foundry, a systems foundry[1] business focused on AI, sustainability, and technology leadership. Microsoft has selected Intel for a significant chip design project using Intel’s 18A process, highlighting Intel Foundry’s strategic role in providing advanced semiconductors and contributing to industry-wide innovation and productivity. [NS business]

[1] Foundry – Semiconductor manufacturing for other companies

Further thinking – The race to create more efficient and powerful AI chips has led to intense competition among tech giants and semiconductor companies. Companies like NVIDIA, ARM, Micron, ASE, ASML, Broadcom, and OpenAI are all vying for a share of the growing market, which is projected to be worth $67.1 billion by the end of this year, according to Gartner. This competitive development of AI technology will benefit everyone and should lead to more accessible and inventive AI globally.

 

Surge in AI investment – 22/2/2024

There has been a recent surge in venture funding for AI startups, with significant increases in investments in February 2024 after a slow start to the year. Notable funding rounds include Moonshot AI’s $1 billion raise and investments in companies like Lambda, Sierra, Recogni, UnityAI, and AZmed, showcasing growing investor confidence and support for innovation in the AI sector. [Crunchbase]

 

SAP fully commits to end-to-end AI – 22/2/2024

SAP has created a new unit led by Dr. Philipp Herzig, the Chief Artificial Intelligence Officer, to oversee the entire value chain for its business AI offering. The unit aims to accelerate the pace of customers’ benefit from innovative AI solutions and services, highlighting the strategic importance of AI for SAP’s growth. The company has invested in AI-powered start-ups and announced a restructuring process to prioritise high-growth areas. [Technology magazine]

Further thinking – It is super interesting that SAP have fully committed to investing AI for their customers. SAP have been at the forefront of business software development and clearly they see AI as huge opportunity to help their customers stay competitive in the ever-changing business landscape. By harnessing the power of artificial intelligence, SAP is not only able to provide cutting-edge solutions to its customers, but also position itself as a leader in the industry. A great example is in the late 1990s and 2000s, when Google invested in search algorithms to allow them to surpass other companies like Yahoo and AltaVista. Investing in new technology can be risky, but with the right approach and timing, it can yield huge benefits.

 

Qloo raises $25M for customer AI-powered insight engine – 22/2/2024

Qloo, a cultural AI specialist, has secured $25 million in Series C funding. The company uses an AI-powered insights engine to analyse over half a billion consumer attributes across various categories. The funding round, led by AI Ventures, AXA Venture Partners, Eldridge, and Moderne Ventures, positions Qloo as a leader in commercialising innovative AI applications and foundational models focused on consumer taste. [TechTarget]

 

AI job displacement will be gradual – 21/2/2024

Researchers at MIT Sloan have found that while AI job displacement is likely, the rollout will be gradual. The researchers also noted that most evaluations of AI’s impact mix together full task automation, which is more likely to displace workers, and partial automation, which will likely improve worker productivity. [MIT sloan]

Further thinking – The MIT Sloan research suggests that the integration of AI will be gradual, allowing businesses and workers ample time to adapt. It emphasises that a significant portion of jobs will remain unchanged in the near term, presenting an opportunity for companies to use AI to enhance human capabilities rather than replace them. Businesses should focus on upskilling employees and strategic planning to harness AI’s potential to positively transform industries and work practices. Additionally, leveraging AI cost-effectively by focusing on tasks that benefit significantly from automation can enhance productivity and create new roles within the organisation. This positive outlook on AI encourages innovative thinking and highlights

 

AI will enable more one-person unicorns – 21/2/2024

AI startups are aiming to revolutionise the tech industry by automating software development, potentially leading to the rise of one-person unicorn companies. Entrepreneurs like Anton Osika believe that AI tools like Loveable can significantly reduce the need for human engineers, paving the way for individuals to create billion-dollar software businesses single-handedly, while others like Peter Nixey remain skeptical about the current capabilities of AI in fully automating complex tasks like product development. [Sifted]

Further thinking – There is no question that AI is opening new doors to wider possibilities. As AI becomes more accessible with innovative models and versatile platforms, more one-person unicorns will come into being. These individuals will be able to accomplish tasks and achieve levels of productivity that were previously unimaginable. The democratisation of AI technology will empower individuals from all backgrounds to create imaginative solutions and disrupt traditional industries. As AI continues to advance, the potential for groundbreaking discoveries and advancements in various fields is limitless.

 

Microsoft invests $2.1 billion in Spain’s AI infrastructure – 20/2/2024

Microsoft is planning to invest $2.1 billion in expanding its artificial intelligence (AI) infrastructure in Spain over the next two years, following a similar investment in Germany. The investment aims to enhance AI and cloud infrastructure in Spain and support the country’s digital transformation efforts, showcasing Microsoft’s long-term commitment to the region. [Reuters]

 

Tech layoffs may not be down to AI says Mark Zuckerberg – 20/2/2024

An interesting Morning Brew Daily interview with Metas Mark Zuckerberg. He explains that the recent tech layoffs are not due to AI but rather companies realising the benefits of operating with a leaner workforce. He mentioned that the layoffs are a result of companies adjusting to the post-pandemic era and making necessary, albeit painful, decisions to improve efficiency. He also talks about many other interesting topics. [Youtube – Summary below video]

Quick summary of video

 

62% of enterprises plan to rely on third parties for GenAI – 19/2/2024

A report by WNS and Everest Group highlights that 62% of enterprises plan to rely on third-party providers for Generative AI solutions, with a focus on enhancing technical capabilities. [WNS]

Further thinking – This number should diminish in the coming years due to the emergence of open-sourced GenAI models that are more powerful, compact, specialised, localised, and efficient. This may appeal more to businesses seeking greater control at a lower expense. However, it is good to consider many elements, like governance and security, for a more rounded view. It is certainly an area where companies need to keep an eye on and evaluate as their needs evolve.

 

Amazon is focusing on cloud infrastructure in the AI tech race – 19/2/2024

Amazon’s cloud computing business leader highlights the importance of cloud infrastructure in enabling generative AI, emphasising Amazon’s role in providing infrastructure for building and scaling AI models. While Amazon may not be a leader in large-language models, it focuses on offering cloud services and features to support the development of generative AI applications, positioning itself as a key player in the AI race through its cloud computing capabilities. [QZ]

Further thinking – As AI advances, a greater number of incumbents will emerge, leading to increased fragmentation into niche sectors. Firms will be able to establish dominance in a particular domain and selecting the right combinations of companies and technologies will be crucial for the future. Amazon is clever in focusing on the technology platform rather than the models and code. Concentrating on plumbing may ensure longer-term business and wider digital dominance. 

 

Singapore invests over $743 million in AI – 19/2/2024

Singapore is investing over $743 million in artificial intelligence over the next five years to enhance its global business and innovation standing, with a focus on AI capabilities and talent development. The investment aims to boost AI adoption among businesses, strengthen partnerships, and ensure responsible AI governance through initiatives like the National AI Strategy 2.0 and the AI Verify tool, positioning Singapore as a leading AI hub with a commitment to ethical and secure AI implementation. [CNBC]

 

PayPal Ventures’ first investment is in an AI company – 18/2/2024

PayPal Ventures made its first AI investment in Rasa, an enterprise-focused conversational generative AI platform serving financial services companies. Rasa raised $30 million in a Series C round co-led by StepStone Capital and PayPal Ventures. [Techcrunch]

 

Is Silicon Valley shifting its AI focus to the long game? – 18/2/2024

Silicon Valley’s businesses seem to have shifted to long-term AI adoption, with generative AI like OpenAI’s ChatGPT making waves but facing challenges in attracting corporate contracts due to ethical and regulatory concerns. Leaders are divided between leaning in, leaning back, or being in learning mode with AI, emphasising the need for patience and experimentation to harness the transformative potential of AI in the evolving business landscape. [The Times – Paywall]

 

Innovative AI chip developed that process with light  – 18/2/2024

Penn Engineers have unveiled a groundbreaking chip that harnesses light for AI processing, promising faster computations, reduced energy consumption, and enhanced data privacy. By leveraging the speed of light waves and manipulating materials at the nanoscale, this innovative chip has the potential to revolutionise computer processing beyond the limitations of traditional silicon-based chips, offering a glimpse into the future of high-speed, secure AI systems. [Scitechdaily]

 

Graphcore considering a sale to stay competitive in AI chip market – 17/2/2024

British AI champion Graphcore is considering a sale to foreign buyers after facing challenges in capitalising on the AI industry’s growth, with potential deals being discussed with major tech companies to secure new funding. Despite raising over $700m in funding and being valued at $2.8bn, Graphcore has struggled to compete with industry giants like Nvidia, leading to layoffs and office closures as it seeks additional funding to stay competitive in the rapidly evolving AI chip market. [The Telegraph]

 

Reddit enters a $60 million data licence deal for AI training – 16/2/2024

Reddit has entered into a $60 million annualised content licencing deal with an AI company, as it gears up for a potential IPO launch in March. This partnership showcases the growing intersection of social media platforms and artificial intelligence, setting a precedent for future collaborations in the tech industry. [Reuters]

 

OpenAI launch Sora; Text to video AI tool – 16/02/2024

OpenAI has launched a new tool called Sora that can generate realistic videos up to a minute long based on text prompts. The tool aims to teach AI to understand and simulate the physical world in motion, with the goal of helping people solve real-world problems that require interaction. [The Guardian] More here [OpenAI] Or Marques Brownlee review below:

Quick summary of video

  • OpenAI introduced Sora, a model that generates full up to one-minute video clips from text input, advancing significantly in AI-generated video technology.
  • Sora’s videos showcase impressive details like accurate lighting, reflections, materials, and physics, indicating a leap from previous AI capabilities.
  • Despite advancements, some videos display imperfections such as unnatural movements and inconsistent frame rates, highlighting the technology’s limitations.
  • The AI’s ability to create highly realistic and varied videos, from stylized imagery to lifelike scenes, demonstrates rapid progress in AI video generation.
  • Sora’s potential applications include stock footage for presentations and advertisements, offering a cost-effective alternative to traditional videography.
  • Due to their increasing realism, concerns arise about the misuse of AI-generated videos, especially in sensitive contexts like elections.
  • OpenAI has implemented safety measures, including watermarks, to indicate videos generated by Sora, though challenges in detecting AI-generated content remain.
  • The technology’s future implications include potential impacts on the content creation industry and questions about AI’s ability to innovate beyond human creativity.
  • Sora is currently in limited access, with ongoing testing and improvement by OpenAI and selected creators to address its limitations and ethical considerations.
  • The rapid improvement of AI video generation tools like Sora suggests a transformative shift in media production, with promising applications and challenges ahead.
 

AI company Lambda raises $320M – 16/2/2024

Lambda, a startup that provides cloud computing services and hardware for training AI software, has reached a valuation of $1.5 billion after raising $320 million in a Series C funding round. The round, led by Thomas Tull’s US Innovative Technology Fund, marks the largest funding round by an AI startup this year, indicating the growing interest and investment in the AI sector. [Crunchbase]

 

Google launches AI research hub in Paris – 16/2/2024

Google has opened an AI research hub in Paris, contributing to the city’s goal of becoming Europe’s AI epicentre and training 100,000 AI professionals by 2025. Paris aims to rival European tech hubs like Zurich and London, with Google CEO Sundar Pichai praising the city’s innovation and diverse tech talent. [Techxplore]

 

Apple steps into AI-assisted coding – 16/2/2024

Apple is set to release a new software development tool that uses GenAI to automate coding work, similar to Microsoft’s Github Copilot. The tool is part of Apple’s efforts to compete with rivals like Microsoft and Amazon in the AI-powered coding space.[Marketwatch]

 

Japan possibly considering GenAI regulation – 15/2/2024

Japan’s ruling party plans to propose new legislation to regulate generative artificial intelligence technologies by 2024, aiming to address issues such as disinformation and rights infringement. This move follows similar efforts by other countries, including the European Union, the United States, and China, to explore regulations for AI. [Reuters]

 

Microsoft to invest €3.2 billion in Germany AI – 15/2/2024

Microsoft plans to invest €3.2 billion in Germany by the end of 2025 to double the artificial intelligence and cloud capacities of its data centers and train over 1.2 million people in digital skills. The aim is to enable the German economy to benefit from AI and maintain its leading global position in terms of competitiveness. [CIO]

 

AI can’t be listed as inventor; US patent office issues guidance – 15/2/2024

The US Patent and Trademark Office (USPTO) has clarified that AI cannot be listed as an inventor on patent applications. While AI-assisted inventions are considered, human inventors must have made a “significant contribution” to the process, with a focus on incentivizing and rewarding human ingenuity. [Techspot]

 

Google launch Gemini 1.5 AI model – 15/2/2024

Google has announced the release of Gemini 1.5, the next-generation AI model that delivers enhanced performance and a breakthrough in long-context understanding across various modalities. Gemini 1.5 Pro, the mid-size multimodal model, offers a context window of up to 1 million tokens, allowing it to process vast amounts of information and perform complex reasoning tasks. [Google]

 

OpenAI business model – 15/2/2024

OpenAI, the artificial intelligence pioneer, has experienced rapid growth and success, with revenues surpassing $2 billion annually and a valuation of $86 billion. The company’s enterprise tools, including the viral chatbot ChatGPT, have been adopted by major companies such as Morgan Stanley, Salesforce, and Rakuten, indicating the increasing interest and demand for generative AI technology. This is an interesting article on its business model. [Financial Times – paywall]

 

Salesforce launches Slack AI – 14/2/2024

Salesforce has announced the launch of native generative AI capabilities within Slack, called Slack AI. The features include built-in search and summary capabilities that allow users to find information quickly, saving time and increasing productivity.. [Venturebeat]

 

Nokia developing AI for industrial workers – 14/2/2024

Nokia has launched a suite of AI-powered tools for industrial workers, including its MX Workmate, which uses generative AI large language model (LLM) technology to generate contextual, human-like language content based on real-time operational technology (OT) data. The tool aims to improve worker safety, productivity, and flexibility while addressing the challenge of compliance with OT requirements. [Pymnts]

 

Calling all AI and science startups – 14/2/2024

Y Combinator, a startup incubator, has announced a new call for startups in AI, spatial computing, and climate tech. The organisation seeks to fund startups that can impact these fields, highlighting the growing importance of AI in various industries. [Tech crunch]

 

ChatGPT memory feature – 13/2/2024

OpenAI is introducing a “memory” feature for its ChatGPT AI chatbot, allowing it to remember information about users and their conversations over time. This personalized approach aims to make ChatGPT feel more personal and intelligent, although it raises concerns about privacy and data usage. [The verge]

 

Generative AI tax assistant launched in UK – 13/2/2024

PwC UK has partnered with OpenAI and Harvey to develop an AI tax assistant that uses generative AI to produce content for tax professionals. The tool combines PwC’s tax expertise with AI technology to provide clients with enhanced insights, transparency, and quality in tax services, demonstrating the transformative potential of AI in professional services. [Tech Radar]

 

EU lawmakers approve groundbreaking AI rules – 13/2/2024

EU lawmakers have ratified a political deal on artificial intelligence rules, paving the way for the world’s first legislation on the technology. The new rules, the AI Act, aim to set guidelines for AI in various industries and regulate AI systems trained on large data sets. [Reuters]

 

AI chip designer sees value double in less than a week  – 12/2/2024

UK chip designer Arm Holdings has seen its stock market value nearly double in less than a week as investors anticipate the growth of AI. Arm’s financial results showed increased demand for AI-related technology, boosting its sales and making it an attractive investment in the AI boom. [BBC]

 

AI spending is said to increase by 820% in the next few years – 10/2/2024

AI spending is predicted to increase by 820% between 2023 and 2030, creating a massive opportunity for investors. [Motley Fool]

 

Humorous chatbot highlights AI responsibility  – 9/2/2024

Goody-2, a new chatbot, takes AI safety to the extreme by refusing every request and explaining how it could cause harm or breach ethical boundaries. The creators behind the project aim to highlight the challenges of defining responsibility in AI models and the need for improved safety features. [Wired – paywall]

 

AI-based asset management startup secures $40 million in funding- 9/2/2024

Stockholm-based startup Xensam has raised $40 million in its first external funding round since its founding eight years ago. The company, which provides AI-based tools for software asset management, plans to use the funding to further develop its AI technology stack, expand its team, and enter the US market.[Tech crunch]

 

Google introduces Gemini – 9/2/2024

Google is bringing its new Gemini language models to the public through a web portal, chatbot, and mobile apps. Gemini Ultra, the largest and most performant model, outperforms other leading language models [Fast Company]

 

FCC Cracks Down on AI Robocallers – 8/2/2024

The Federal Communications Commission (FCC) has made it illegal to place AI-generated robocalls to voters in the U.S. The FCC can now fine companies up to $23,000 per call and block service providers that carry the calls, and recipients can sue for up to $1,500 per call in damages. [Fast Company]

 

AISIC – The U.S. AI Safety Institute Consortium launched – 8/2/2024

The U.S. AI Safety Institute Consortium (AISIC) has been created to unite AI creators, users, researchers, and civil society organisations to develop and deploy safe and trustworthy artificial intelligence. Here are a few of the extensive members.

The consortium will engage in collaborative research and development, establish a knowledge-sharing space, and prioritise research on AI’s impacts on society and the economy. [NIST]

 

Sam Altman seeks trillions for AI chip growth – 8/2/2024

OpenAI CEO Sam Altman is in talks with investors, including the United Arab Emirates government, to raise trillions of dollars for a tech initiative to reshape the global semiconductor industry and expand AI capabilities. The project could require raising as much as $5 trillion to $7 trillion and would address constraints to OpenAI’s growth, such as the scarcity of AI chips needed for training large language models. [WSJ – paywall]

 

Arm shares skyrocket as demand for AI surges – 8/2/2024

Arm’s market value has increased by over 20% due to strong demand for AI technology and a recovery in the smartphone market. The UK-based chip designer, the largest supplier of design elements for processing chips, beat revenue expectations and raised its full-year revenue and profit guidance. [The Guardian]

 

High demand for Nvidia AI chips in Asia – 8/2/2024

Nvidia’s AI chips are in high demand, particularly in South-East Asia and Taiwan, leading to shortages and price increases. Meanwhile, Japanese chip equipment supplier Towa is experiencing a surge in its share price due to robust demand for AI chips, with the company expecting its most significant order for machines from South Korean chipmakers.[FT – paywall]

 

Ex-OpenAI engineer helps raise $21m for Daedalus startup – 8/2/2024

AI startup Daedalus, founded by former OpenAI engineer Jonas Schneider, has raised $21 million in funding to expand its production in Germany. The company’s AI software, based on models like OpenAI’s ChatGPT, automates the manufacturing process for high-precision parts with minimal human intervention, catering to sectors such as semiconductors and defence. [Reuters]

 

AI PCs are projected to account for 60% of shipments by 2027 – 7/2/2024

Worldwide shipments of personal computers with AI are projected to reach over 167 million in 2027, up from approximately 50 million in 2024, with IDC predicting that this will constitute nearly 60% of all PC shipments. The hope for better user productivity, cheaper inferencing, and privacy and security on the device is driving the rise in interest in AI personal computers. [IDC]

 

Meta to label AI-Generated content on Facebook and Instagram – 7/2/2024

Meta, the parent company of Facebook, will begin labelling and punishing users who fail to disclose if a realistic video or audio was created using AI. The move addresses the increasing difficulty in distinguishing AI-generated media from reality, particularly during election seasons. [The Verge]

 

UK Gov invests £100M+ for responsible AI R&D – 6/2/2024

The UK government has announced a plan to boost AI regulation and innovation, including over £100 million ($125 million) in funding. The plan includes £10 million ($12.5 million) to upskill regulators in applying existing laws to AI developments and £90 million ($113 million) to establish nine research hubs for AI innovation. [Techcrunch]

 

Apple Releases ‘MGIE’, a revolutionary AI Model – 6/2/2024

Apple has released an open-source AI model called “MGIE” to edit images based on natural language instructions. The model, developed in collaboration with researchers from the University of California, Santa Barbara, leverages multimodal large language models to interpret user commands and perform various editing tasks. [VentureBeat]

 

Microsoft collaborates with Semafor on AI-assisted news stories – 5/2/2024

Microsoft is partnering with media website Semafor to use AI technology to assist in creating news stories. Semafor will create a feed called “Signals” that will feature breaking news and analysis, with AI tools used to find and summarise news from multiple sources, while journalists provide context and viewpoints. [Engadget]

 

AI startup strikes copper – 5/2/2024

Jeff Bezos and Bill Gates-backed mining startup KoBold Metals has used AI to find a significant copper deposit in Zambia that has the potential to grow into one of the largest copper mines in the world. Construction on the mine could start as early as 2027. [Quartz]

 

AI decodes ancient Roman scroll – 5/2/2024

An ancient Roman scroll buried in the eruption of Mount Vesuvius in A.D. 79 has been decoded using artificial intelligence, revealing a piece of Epicurean philosophy on the subject of pleasure. [Time]

 

Eight tech companies pledge to build by UNESCO’s principles – 5/2/2024

Eight global technology companies, including Microsoft and Mastercard, have pledged to build “more ethical” AI systems by UNESCO’s framework of principles, which promote human rights, human dignity, diversity, and inclusiveness, aiming to guarantee human rights and meet safety standards while preventing and mitigating the adverse effects of AI. [Tech explore]

 

UK shelves proposed AI copyright code – 4/2/2024

The UK government has shelved a proposed code on AI copyright, as industry executives failed to agree on a voluntary code of practice for the training of AI models using copyrighted material. [The Guardian]

 

MMIT and IBM get inspired by neural networks – 3/2/2024

Researchers from MIT and IBM have developed a new approach to solving complex mathematical equations using brain-inspired neural networks. The technique called physics-enhanced deep surrogate (PEDS) models, takes the best parts of high-precision numerical methods and neural networks and combines them to make training data at least 100 times smaller. [IEEE spectrum]

 

HP building AI supercomputer – 3/2/2024

Hewlett Packard Enterprise (HPE) is partnering with Eni, an energy provider, to build HPC6, a powerful supercomputer dedicated to industrial use. The supercomputer will support AI, modelling, and simulation and will aid Eni in achieving net zero emissions. [Business wire]

 

EU approve world’s first AI rulebook – 2/2/2024

27 EU countries have unanimously approved the world’s first comprehensive rulebook for AI, which will regulate AI based on its capacity to cause harm and include rules for powerful AI models and law enforcement. [EURACTIV]

Further thinking – This is a huge development in AI with implications across the globe. Countries within the EU or serving the EU will have to review their AI policies and procedures in light of this. We will look into this further.

 

UK government urged to be positive about AI – 2/2/2024

The UK government is being urged to adopt a more positive outlook on large language models (LLMs) and focus on near-term security and societal risks rather than exaggerated apocalyptic scenarios in order to avoid missing out on the potential of AI. [Techcrunch]

 

Bank of England Governor bullish about AI – 2/2/2024

Bank of England Governor Andrew Bailey says AI will not be a “mass destroyer of jobs” and that human workers will adapt and learn to work with new technologies, citing the potential benefits and productivity gains of AI. [BBC]

 

Nvidia working on National AI infrastructure – 2/2/2024

Nvidia CEO Jensen Huang says that nations seeking to develop their own AI systems will increase the demand for AI infrastructure and capabilities. [Bloomberg]

Further thinking – Great work by Jensen and the Nvidia team. The increasing demand for advanced AI applications is prompting countries to invest in high-performance computing infrastructure. The capacity to analyse massive datasets, train complex machine learning models, and develop cutting-edge AI algorithms is crucial to a nation’s innovation and competitiveness on the global stage. Interesting interview Ed and Bloomberg team.

  • Nvidia CEO Jensen Huang discussed the shift from AI startups to sovereign AI capabilities during a conversation in Toronto, Canada.
  • He highlighted the significance of the University of Toronto and its contributions to modern AI, emphasising the need for public infrastructure to support AI research and startups in Canada.
  • Huang emphasised the necessity of a large computing infrastructure for developing generative AI, including models and token generation, to establish sovereign AI capabilities.
  • The conversation with the Canadian government focused on infrastructure development so that Canada could have its own sovereign AI systems.
  • Nvidia’s strategy includes utilising cloud services and partnerships with major providers like Microsoft, AWS, and GCP to make AI technology accessible globally.
  • Huang mentioned the goal of enabling countries to build their own AI infrastructure with Nvidia’s technology and know-how, from computing and networking to software.
  • Sovereign AI is recognised globally, with countries like India, Japan, France, Canada, and Singapore acknowledging the importance of developing their AI capabilities to refine and utilise their data.
  • Concerning working with China, Huang stated Nvidia’s commitment to comply with American policies and regulations while aiming to serve various countries within legal boundaries.
  • The conversation touched on the potential of sovereign AI as a business line for Nvidia, with the expectation that every country will become a computer industry and every industry will become technology-driven due to AI.
  • Regarding the future of AI, Huang responded to a question about achieving human-level intelligence in AI by the end of the decade, suggesting that computers could pass a suite of tests currently designed for humans within this timeframe, but broader definitions of human intelligence remain challenging to achieve.
 

It’s official: Apple harnessing the power of GenAI – 1/2/2024

During an earnings call, Apple CEO Tim Cook confirmed that the company is working on generative AI software features that will be released later this year, hinting at a significant update to their operating system. [The Verge]

 

Volkswagen group sets up AI lab – 1/2/2024

Volkswagen Group has established an “AI Lab” to develop digital products based on AI. Volkswagen aims to bring AI products to vehicles and the vehicle environment, offering customers added value beyond their cars. [VWG]

Further thinking – This is a great move by VW. AI development is accelerating at a rapid pace, and new techniques can create new opportunities. A dedicated AI development unit can provide significant benefits. It enables focused research and experimentation to push the limits of AI capabilities. A dedicated unit allows experts to collaborate and exchange ideas, resulting in faster advancements in AI technology. Furthermore, having a specialised team can ensure that AI development is aligned with specific business goals and objectives, maximising its potential impact across multiple industries. It can hasten progress and advancement in the field.

 

Shopify upgrades platform with AI – 1/2/2024

Shopify has introduced over 100 new updates to its commerce platform, including AI-powered features such as Shopify Magic, an image editor that automatically generates product descriptions and marketing copy, and Smart Sidekick, an AI-powered commerce advisor that provides personalised recommendations to merchants. [Venturebeat]

Further thinking – This is a logical progression for Shopify to pursue. We will see a lot of online services use AI to streamline processes, save time, and improve service quality. By incorporating AI into its platform, Shopify can improve its existing tools and features. This will not only benefit Shopify merchants by simplifying operations and increasing sales but it will also allow Shopify to stay ahead of the competition in the rapidly changing e-commerce industry. Furthermore, the incorporation of AI technology may present new opportunities for Shopify to expand its services and cater to a broader range of businesses and industries.

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