Artificial Intelligence News: AI will add $15 trillion to the global economy (according to Gartner) by 2030. This fast-moving, technological breakthrough is powering the next industrial revolution and will disrupt the global economy in unforeseen ways. The DailyAlts AI channel tracks the latest developments, capital flows, technological advancements, and other influences that will transform the 2020s.
Slope, a two-year-old AI startup based in San Francisco, has secured a substantial $30 million equity round led by Union Square Ventures and featuring participation from OpenAI’s CEO, Sam Altman. This brings the startup’s total funding to an impressive $187 million.
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Palantir Technologies Inc. (NYSE: PLTR) has secured a significant contract worth $250 million with the US Defense Department. The primary focus of this contract is the research and development of artificial intelligence (AI) and machine learning technology. This development underscores Palantir’s strong ties to the US government and its growing involvement in the realm of AI and defense.
Small AI-equipped boxes called “curupiras” have been deployed in the Brazilian Amazon to combat deforestation. These boxes use sensors and AI software to detect sounds of chainsaws and tractors, signaling potential threats in real-time.
French billionaire Xavier Niel is embarking on a significant €200 million investment in artificial intelligence (AI), aiming to bolster European tech competitiveness against global giants like the US and China. This initiative, led by Niel’s telecoms group Iliad, encompasses various projects designed to advance AI capabilities in Europe.
Amazon.com (NASDAQ: AMZN) announced a significant investment of up to $4 billion in the AI startup Anthropic to bolster its competitiveness in the field of artificial intelligence within the cloud market. This strategic move will grant Amazon’s employees and cloud clients early access to Anthropic’s technology, which they can integrate into their operations. Additionally, Anthropic will heavily rely on Amazon’s cloud services, including the utilization of proprietary chips from Amazon for training its future AI models.
Tether, the company known for the world’s leading stablecoin, has made a strategic investment in Northern Data Group (ETR: NB2) through its subsidiary, Damoon. With an $83 billion market capitalization, Tether is diversifying its investments beyond fintech, including energy production, bitcoin mining, and communications technology.
OpenAI’s latest creation, DALL-E 3, is making waves in the world of AI image synthesis. This cutting-edge model, unveiled on September 21, 2023, is a significant leap forward in terms of its ability to generate images that closely adhere to complex descriptions and handle in-image text generation, such as labels and signs. What sets DALL-E 3 apart is its remarkable fidelity to prompts, making prompt engineering largely obsolete.
SambaNova Systems, an AI chip startup, has introduced the SN40L chip, which enables customers to utilize more extensive AI models at a reduced cost. This chip is designed for running large language models in enterprise applications, accommodating models over twice the size of OpenAI’s ChatGPT.
Artificial Intelligence: Morgan Stanley Empowers Financial Advisors With AI Assistants Running On GPT-4
Morgan Stanley (NYSE: MS) has ushered in the generative AI era on Wall Street with the launch of its AI @ Morgan Stanley Assistant, powered by OpenAI’s GPT-4. This move makes Morgan Stanley the first major Wall Street firm to deploy a bespoke solution based on GPT-4 for its employees, marking a significant development in the financial sector.
Infosys (NSE: INFY), India’s second-largest software services exporter, recently announced a substantial $1.5 billion contract spanning 15 years with a prominent “global company.” In this partnership, Infosys will deliver advanced digital experiences and business operational services, capitalizing on their platforms and cutting-edge artificial intelligence (AI) solutions. However, Infosys has not disclosed the identity of this global company or whether it is an existing client.
Artificial Intelligence: Amazon Deploys Generative AI To Help Sellers Write Effective Product Listings
Amazon (NASDAQ: AMZN) is harnessing the power of generative artificial intelligence (generative AI) to revolutionize the way sellers create and manage product listings. These new AI capabilities aim to simplify the listing creation process, making it more efficient and engaging for both sellers and shoppers.
EY, the consulting firm, has announced a significant investment of $1.4 billion into artificial intelligence (AI). This substantial commitment reflects the growing trend among professional-services companies to embrace AI technology. In addition to this investment, EY has developed its own extensive language model, EY.ai EYQ, and has ambitious plans to train its vast workforce of 400,000 employees in AI. (WSJ)
Coca‑Cola (NASDAQ: COKE) is venturing into the year 3000 with a futuristic flavor and an AI-powered experience. The company’s latest offering, Coca‑Cola® Y3000 Zero Sugar, is the result of a unique collaboration between human and artificial intelligence. By tapping into fans’ emotions, aspirations, colors, and flavors, combined with insights from AI, Coca‑Cola has crafted a taste that envisions the future.
Artificial Intelligence: After Bank Holiday Flight Chaos, UK Organizations Collaborate On AI-Powered Air Traffic Control
Researchers in the UK have developed a computer model of air traffic control powered by artificial intelligence (AI). This “digital twin” of England’s airspace is the outcome of a £15 million project known as Project Bluebird, a collaboration between National Air Traffic Services (NATS), the Alan Turing Institute, Exeter University, and government funding through UK Research and Innovation.
Artificial Intelligence: Australia Makes Search Engines Responsible For Curbing AI-Generated Child Porn
Australia has introduced new regulations aimed at compelling internet search engines like Google (NASDAQ: GOOGL), Bing, DuckDuckGo, and Yahoo to combat the dissemination of child sexual abuse material (child porn) generated by artificial intelligence (AI). The online safety code, announced recently, mandates that these services must take “appropriate steps” to prevent the spread of child exploitation material, including AI-generated “synthetic” images.
SpermSearch, an AI system developed by Dr. Steven Vasilescu and his team at the University of Technology Sydney, is revolutionizing the field of infertility treatment. This AI can rapidly identify viable sperm in samples taken from severely infertile men, a process that typically takes hours when done manually.
Orbital Sidekick, a California-based Earth-observation startup, has launched a new constellation of microsatellites equipped with hyperspectral sensors. These satellites utilize artificial intelligence (AI) to monitor methane leaks with unparalleled precision from space.
At the upcoming ‘Mother of Democracy’ exhibition hosted at Bharat Mandapam during the G20 Summit, a novel approach is set to welcome Heads of State and prominent leaders. Official sources have disclosed that an artificial intelligence-generated ‘avatar’ will greet attendees, providing a concise overview of the exhibition, which will delve into India’s democratic traditions from the ancient Vedic period to the contemporary era.
Growth Warrior Capital is introducing Elevo, an innovative AI-powered pitch deck generator designed to assist founders in the complex world of venture capital. Promise Phelon, the firm’s managing partner (pictured), conceptualized this tool to streamline the process of identifying promising startups that could transform various industries.
Artificial Intelligence: The Allen Institute Launches The Satlas AI Platform For Viewing Satellite Imagery
The Allen Institute for AI has unveiled Satlas, a new platform harnessing AI to analyze global geospatial data derived from satellite imagery. Satlas presently provides three monthly-updated data products:
• Marine Infrastructure: This includes the positions of offshore wind turbines and platforms.
• Renewable Energy Infrastructure: It offers positions of solar farms and onshore wind turbines.
• Tree Cover: This data reveals the tree canopy coverage percentage within 100 m² cells.
AI21 Labs, a prominent AI and large language models (LLMs) leader, has secured $155 million in Series C funding to accelerate the expansion of its accurate text-based generative AI services for enterprises. Noteworthy investors, including Walden Catalyst, Pitango, SCB10X, b2venture, Samsung Next, Prof. Amnon Shashua, Google (NASDAQ: GOOGL), and NVIDIA (NASDAQ: NVDA), have participated in this funding round.
Alternative Investments/AI: South Korean Electronics Giant LG Leverages AI For Fund Management Venture
LG Group (KRX: 003550), a South Korean conglomerate renowned for its electronic products, is leveraging its expertise in artificial intelligence to venture into investment management. Collaborating with South Korean fintech Qraft Technologies, LG is introducing the LG Qraft AI-Powered U.S. Large Cap Core ETF, with plans to officially list it in November after filing the application in mid-August.
Artificial Intelligence: Andreessen Horowitz Extends Its Support To Open Source AI Developers With Grants Program
Storied venture capital firm Andreessen Horowitz has announced the a16z Open Source Grant Program to support open source AI developers by way of “giving them the opportunity to continue their work without the pressure to generate financial returns.”