Artificial Intelligence
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.
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Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while the ROCm 6 open software stack introduces new features supporting Large Language Models (LLMs). Additionally, the Ryzen 8040 Series processors come equipped with Ryzen AI capabilities.
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Artificial Intelligence: AI-Based Robotic Waste Recycler AMP Raises $91M
AMP Robotics Corp has announced a $91 million Series C round led by Congruent Ventures and Wellington Management as well as new and existing investors including Blue Earth Capital, Sidewalk Infrastructure Partners (SIP), Tao Capital Partners, XN, Sequoia Capital, GV, Range Ventures, and Valor Equity Partners. The funds will be used for AMP’s international expansion as well as to scale up its operations. The company intends to enhance manufacturing capacity to support a fleet of approximately 275 robots around the world and advance its ongoing development of AI-enabled automation applications for recycling.
Venture Capital/AI: OpenAI Launches Converge, An Accelerator For AI Startups
In May last year OpenAI launched its $100 million Open AI Startup Fund to provide support to early-stage startups in fields where artificial intelligence (AI) can have a transformative effect—like health care, climate change, and education. On Wednesday, the Fund launched Converge, an accelerator program for founders building transformative companies powered by AI.
Artificial Intelligence: Google Event Showcases AI Advances In Robotics, Video Generation, And Disaster Management
Google Research showed off some of its AI projects at an event in Manhattan on Wednesday. Though the AI projects are still under development, their scope was impressive, ranging from health diagnostics and test-to-image generation to disaster management.
Artificial Intelligence: MGM Launches AI-Powered Clip Locator To Search Its Film And TV Library
MGM’s massive media library of film and TV has now become more easily searchable. Advertising and marketing people or researchers can use the MGM Clip Locator (currently in beta) to pinpoint all occasions of say, a specific line of dialogue across the library. What’s more, the users can even filter the results based on different parameters such as actor and title.
Artificial Intelligence: Meta AI Predicts The Shape Of 600 Million Proteins
Scientists at Meta (NASDAQ: META) used AI to predict the structures of approximately 600 million proteins from bacteria, viruses and other microbes that were not studied before. “Today, we announced an AI breakthrough that accelerates protein folding — the process of predicting a molecule’s shape. Our researchers have used it to create a database of the molecular structures of proteins, which are the building blocks of life on earth,” said an announcement from the company.
Artificial Intelligence: Israeli Research Institute MIGAL Applies AI To Quadruple Cucumbers’ Postharvest Life
The MIGAL Galilee Research Institute (MIGAL), a regional mega-R&D center supported by Israel’s Ministry of Science and Technology, has extended the postharvest life of cucumbers from two to nine weeks. The cucumber is a sensitive fruit with a high wastage rate due to its average postharvest storage lifespan of less than two weeks.
Artificial Intelligence: Silver Lake Backed Bayanat AI Triples On IPO Debut In Abu Dhabi
An Initial Public Offer (IPO) by Bayanat AI, a company owned by Abu Dhabi’s G42, and backed by IHC, the most valuable firm in the United Arab Emirates, proved to be highly successful on its trading debut today on the Abu Dhabi Securities Exchange (ADX). Shares of Bayanat AI, whose IPO was oversubscribed over 90X, more than tripled from their IPO price of 1.10 dirhams each, but closed the day at 4.10 dirhams, with gains of 272%.
Artificial Intelligence: Study Finds AI-Enabled Drones Can Reliably Detect Sharks Near Beaches
Intelligent Systems for Planetary Good, led by Dr Cormac Purcell, and other researchers have published a study that investigated the ability of commodity deep learning algorithms to detect marine objects in video footage from drones, with a focus on distinguishing between shark species. The objective was to improve upon current drone-based shark surveillance methods which are effective, safe and affordable, but are labor intensive and rely heavily on pilot skill to detect sharks.
Artificial Intelligence: Google Acquired Alter, An AI Avatar Startup, Two Months Ago
The fact of the Alter acquisition was not made public. TechCrunch reported Thursday that Google (NASDAQ: GOOGL) had made a hush-hush acquisition of Alter, an AI avatar startup that helps developers put avatars into games and apps. The transaction, estimated at $100 million, occurred a couple of months ago but was disclosed only now to…
Artificial Intelligence: Self-Driving Startup Argo AI Shuts Down, Parts To Be Absorbed By Backers Ford, VW
The signs were all there. In July, Argo AI, the self-driving startup backed by Ford (NYSE: F) and Volkswagen (ETR: VOW) laid off 150 jobs and slowed down its hiring. At the time the company attributed the action to “prudent adjustments to our business plan.” Three months down the line, Argo has downed shutters, with parts of it being taken over by Ford and VW.
Artificial Intelligence: Shutterstock Ties With Open AI To Launch AI-Generated Content Capabilities
The Shutterstock partnership with OpenAI will deliver the most advanced creative tools in the industry. Creative platform Shutterstock (NYSE: SSTK) has announced a partnership with OpenAI to launch its AI-generated content capabilities in a manner that is responsible and transparent for its customers and contributors, and a fund to compensate artists for their contributions to…
Artificial Intelligence: Google’s Dialogflow Service To Power Wells Fargo’s New Digital Assistant
Wells Fargo (NYSE: WFC) announced its launch of Fargo, a new virtual assistant that will assist customers with their banking in the coming months and provide a more personalised, convenient and simple banking experience. Fargo will be built upon the Google Cloud conversational AI platform known as Dialogflow which has language processing capabilities, can understand customers’ intents, and deliver an appropriate response.
Venture Capital: AI-Powered, Precision Medicine Startup Tempus Raises $275M In Equity And Debt
Tempus, which uses AI to advance healthcare solutions in drug discovery, clinical trials and diagnostics, has raised $275 million through equity from previous investors and debt financing from Ares Management.
Artificial Intelligence: Adobe Announces Generative AI For Adobe Creative Cloud
Adobe (NASDAQ: ADBE) has been researching Generative AI for its transformative potential to accelerate creativity and make it accessible to millions of people; for example, by speaking a few words to describe an image, and having the corresponding image magically produced on the computer screen by the AI.
Artificial Intelligence: French Privacy Watchdog CNIL Hits Clearview AI With 20M Euro ($19.6M) Fine
Privacy advocates across the globe have cause to celebrate. Clearview AI, a facial recognition firm that scraped an estimated 20 billion photographs from the internet and social media without permission, has been slapped with a 20 million euro fine by French regulator CNIL for not cooperating with its previous order.
Artificial Intelligence: Reducing Sulfur In Shipping Fuel Cut Sea Air Emissions (NASA AI Model)
An AI model built by NASA confirmed that an IMO move to slash sulfur content in shipping fuel paid off in spades, because it led to the lowest air pollution levels at sea in 2020. However, part of the credit must also go to the reduced shipping traffic volumes due to the COVID-19 pandemic.
Artificial Intelligence: AI-Generated Content Platform Jasper Raises $125M Series A
Jasper, the platform for AI-generated content, announced its $125 million Series A round led by global software investor Insight Partners and joined by other leading firms including Coatue, Bessemer Venture Partners, IVP, Foundation Capital, Founders Circle Capital, HubSpot Ventures and more. The round valued the firm at $1.5 billion.
Artificial Intelligence: Open Source AI Company Stability AI Lands $101M
Stability AI, an open source AI company driven by a community of developers that launched the highly successful, free-to-use, text-to-image generator Stable Diffusion, has raised a $101 million, oversubscribed round led by Coatue, Lightspeed Venture Partners, and O’Shaughnessy Ventures LLC.
Artificial Intelligence: NVIDIA Founder Jensen Huang And Wife Lori Huang Donate $50M To Oregon State University
Oregon State University (OSU) has announced the launch of a $200 million research and education center incorporating one of the nation’s most powerful supercomputers. Jen-Hsun Huang, founder and CEO of NVIDIA (NASDAQ: NVDA), and his wife Lori have contributed a gift of $50 million to the OSU Foundation, following which the center is to be named the Jen-Hsun and Lori Huang Collaborative Innovation Complex.
Artificial Intelligence: VW Launches €2.4bn Joint Venture with Chinese AI Chip Specialist Horizon Robotics
Volkswagen AG (ETR: VOW3) announced an investment of €2.4bn in a joint venture between its software company CARIAD and Horizon Robotics, a leading Chinese designer of AI chips and provider of computing solutions for smart vehicles in China. CARIAD will be a majority (60%) shareholder in the JV, expected to be formed in the first half of 2023.
Artificial Intelligence: VC Money Follows Startups Into London’s West End, Soon To Be An AI Hub?
London’s West End may soon add ‘high tech’ to its ‘night-spot’ allure. A number of AI startups have located themselves in this district, which may soon gain a reputation as the UK’s AI cluster and industry hub. The trend since the late 2000s for East London to be the go-to address for digital startups seems to be turning. (UKTN)
Artificial Intelligence: Finnish Dairy Valio Uses AI To Design Futuristic Low-Sugar Chocolate
Finnish dairy Valio enlisted technology company Aiwo Digital to analyse a global assortment of 1.5 million tweets to get insights from chocolate lovers around the world. They used this information to create The Bar, a new low-sugar milk chocolate claimed to be having “AI-design” features.
Artificial Intelligence: Ai-Da, A Robot, Speaks At The House Of Lords
Ai-Da, a robot created by Aiden Meller, and described as “the world’s first ultra-realistic robot artist”, appeared at a hearing before the Lords communications and digital committee on Tuesday. The Committee was examining the future of the UK’s creative industries and how AI could impact the sector.
Alternative Investments/Hedge Funds: Ex-Bridgewater Executive Launches Unlimited – A Hedge Fund Tracking ETF
Unlimited, a new investment firm purpose-built to give all investors exposure to the alpha-generating potential of alternative investment strategies without the high fees and adverse tax implication, has been launched by Bob Elliott, former member of the Investment Committee at Bridgewater Associates. The firm has debuted the Unlimited HFND Multi-Strategy Return Tracker ETF (NYSE: HFND), an actively managed fund which uses a sophisticated machine learning engine to track the gross-of-fees returns across several hedge fund indices.