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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Alternative Investments/AI: Qraft And LG Collaborate To Launch AI-Powered Large Cap Equity ETF
Qraft Technologies, a prominent invest-tech company specializing in artificial intelligence investing solutions, has joined forces with LG AI Research, the AI research hub of the LG Group (KRX: 003550), to unveil the LG Qraft AI-Powered U.S. Large-Cap Core ETF (NYSE: LQAI). This collaborative effort signifies a significant milestone in their partnership and aims to outperform U.S. large-cap stocks by investing in a diverse portfolio of 100 stocks.
FinTech: Black Ore Raises $60M, Announces AI-Powered Tax Autopilot
Black Ore Technologies Inc., a financial technology startup specializing in artificial intelligence tools for the financial services sector, has emerged from stealth mode with a substantial $60 million in funding. This investment places the company among the growing ranks of AI startups that secure significant funding even in their early stages. Notable examples include Stability AI, which raised $101 million, and Mistral AI, which secured $113 million in their initial funding round.
Artificial Intelligence: PwC Rolling Out $1B Investment In Generative AI
PwC is making a significant investment in AI technology to stay ahead in the rapidly evolving world of professional services. The initiative began after a realization at the Davos conference that AI was a transformative force. Joe Atkinson, PwC U.S.’s chief products and technology officer, observed a strong interest in generative artificial intelligence, which spurred the company into action. Within just four months, PwC announced a $1 billion investment over three years, expanding its AI solutions, partnering with Microsoft (NASDAQ: MSFT) and OpenAI, and providing AI training for its 75,000 employees.
Venture Capital: May Mobility Scores $105M Series D Round Led By NTT
May Mobility, a pioneer in autonomous vehicle (AV) technology, has successfully closed a Series D funding round, securing $105 million in all-equity investments. This round was led by NTT Group (TYO: 9432), a major Japanese telecommunications company, and included contributions from both new and existing investors such as Toyota Ventures, Aioi Nissay Dowa Insurance Company, State Farm Ventures, BMW i Ventures, Cyrus Capital, and Trucks Venture Capital. This funding round boosts May Mobility’s total funding to approximately $300 million.
Artificial Intelligence: IBM Unveils $500M Venture Fund To Invest In Generative AI Startups
IBM (NYSE: IBM) has announced the launch of a $500 million venture fund aimed at investing in AI companies, spanning early-stage startups to hyper-growth enterprises, all dedicated to advancing generative AI technology and research for businesses. The IBM Enterprise AI Venture Fund is unique in its approach, combining domain expertise from across IBM with a specialized portfolio development team to support AI leaders worldwide.
Artificial Intelligence: The Schwarz Group, Bosch, And Others Invest Over $500M In Aleph Alpha, A German AI Startup
The Schwarz Group, the owners of the Lidl supermarket chain, is part of a consortium investing over $500 million in the German artificial intelligence startup, Aleph Alpha. This investment is driven by the global surge in AI development. Schwarz Group, along with an AI hub in Heilbronn, co-leads this venture, which is also supported by the venture capital unit of Bosch, a major European car parts supplier.
Artificial Intelligence: Elon Musk’s xAI Launches The ‘Grok’ Chatbot
Elon Musk has introduced his own artificial intelligence bot, Grok, with the aim of challenging the capabilities of ChatGPT 3.5. Musk claims that Grok’s prototype already outperforms ChatGPT 3.5 across various benchmarks. Grok, the first product of Musk’s xAI company, is currently in testing with a select group of users in the United States.
Artificial Intelligence: The AI Product From Elon Musk’s xAI Launches Saturday
Elon Musk’s artificial intelligence startup, xAI, is set to launch its first product this Saturday, as announced by the billionaire himself. However, Musk provided limited details about the product’s specific functions, leaving the tech world curious about what it will offer. This move comes at a time when numerous companies are vying for a share of the rapidly expanding AI market, and tech leaders are outlining their visions for AI’s future.
Venture Capital: Soffinova Raises $200M For Investing In Digital Medicine Startups
Sofinnova Partners, a prominent European life sciences venture capital firm with offices in Paris, London, and Milan, has successfully concluded the fundraising for Sofinnova Digital Medicine I, amassing a total of $200 million (€190M), surpassing its initial target. Spearheaded by Partners Edward Kliphuis and Simon Turner, this fund is dedicated to supporting innovative entrepreneurs at the intersection of biology, data, and computation.
Artificial Intelligence: OpenAI Launches “Preparedness” Team To Guard Against Catastrophe By AI
OpenAI is taking significant steps to mitigate the potential “catastrophic risks” associated with cutting-edge artificial intelligence models. This initiative, known as Preparedness, is tasked with overseeing and evaluating the development of highly capable AI models that could possess dangerous capabilities, particularly in areas like cybersecurity and nuclear threats. The team, integrated into OpenAI, will ensure that these models adhere to strict safety protocols and guidelines.
Artificial Intelligence: Airbnb Clamps Down On Parties With AI Software
The nightmare of returning to your rented home after a short-term stay to find it transformed into a loud party venue is a scenario that stirs a potent blend of anger and frustration. Such occurrences surged globally during the COVID-19 pandemic when bars and nightclubs shuttered, leaving young adults in search of alternative party spots. Airbnb (NASDAQ: ABNB), a major player in the short-term rental market, initiated a “global party ban” in response. This involved banning offenders and imposing restrictions on under-25s without excellent reviews. As a result, reported parties decreased by 55% between 2020 and last year.
Artificial Intelligence: IWF Report Finds Paedophiles Using AI To Reimagine Images Of Celebrities As Children
Pedophiles have begun utilizing artificial intelligence (AI) to generate disturbing images of celebrities as children, according to the Internet Watch Foundation (IWF). These manipulated images of well-known figures, including a female singer re-purposed as a child, are being circulated by predators. Child actors’ images are also being twisted to sexualize them on dark web forums. Alarmingly, bespoke image generators are now being used to produce hundreds of images featuring actual victims of child sexual abuse.
Artificial Intelligence: Microsoft Commits $5B To Assist Australia With AI And Cybersecurity
Microsoft’s (NASDAQ: MSFT) monumental announcement on October 24, 2023, revealed the company’s A$5 billion investment in Australia’s digital infrastructure, marking the largest investment in the country by the tech giant in its four-decade history. The focus of this investment is on expanding hyperscale cloud computing and AI infrastructure, with the aim of strengthening Australia’s economic competitiveness, creating high-value job opportunities, and enhancing cybersecurity.
Artificial Intelligence: Apple Moving Quickly To Close The Gap On Generative AI
Apple (NASDAQ: AAPL) is gearing up to join the AI revolution that has taken the tech industry by storm. While the iPhone-maker was somewhat caught off guard by the rapid rise of AI tools like ChatGPT from OpenAI, it is now making a concerted effort to catch up. CEO Tim Cook acknowledges that Apple has been working on generative AI technology for some time, though the recent AI fever in the industry has spurred the company into action.
Artificial Intelligence: IBM’s NorthPole, A New Microchip, Could Enable Dramatic Advances In AI
IBM’s (NYSE: IBM) latest microchip breakthrough, the NorthPole, holds the potential to reshape the future of artificial intelligence. This innovative chip design, resembling the human brain’s neural architecture, has significant implications because it addresses two critical challenges faced by today’s AI development.
Firstly, it significantly reduces power consumption. While a human brain operates on just 12 watts, traditional desktop computers require 175 watts for basic tasks.
The secondary challenge is that we are approaching the fundamental limit of how many transistors can be accommodated on a single chip at the atomic scale.
FinTech: Square Places Generative AI In The Hands Of Businesses
Square unveiled 10 cutting-edge generative AI features on Wednesday, designed to revolutionize operations for businesses of all sizes. These innovative tools are seamlessly integrated into Square’s robust business software, offering entrepreneurs a helping hand to navigate the intricate challenges of running a company.
Artificial Intelligence: Universal Music Sues Anthropic For Illegally Scraping Copyrighted Songs
Universal Music (AMS: UMG), along with two other major music companies, has initiated a copyright infringement lawsuit against Anthropic, an AI startup. The complaint revolves around Anthropic allegedly scraping copyrighted songs without permission and using them to create lyrics that are almost identical to the original content. This action is primarily related to Anthropic’s AI model known as Claude, which competes with ChatGPT.
Artificial Intelligence: AI-Chipmaker Nvidia And iPhone Maker Foxconn Join Hands To Make “AI Factories”
Nvidia (NASDAQ: NVDA) and Foxconn (TPE: 2354) are joining forces to establish “artificial intelligence factories,” signifying a diversification move for the Taiwanese electronics manufacturer. This development comes in the wake of the US tightening regulations on AI chip sales to China, impacting Nvidia and other high-performance semiconductor suppliers in the nation.
Artificial Intelligence: Researchers Devise A System Of AI And Robots To Detect A Supernova
In a groundbreaking development, a fully automated process, driven by a new artificial intelligence (AI) tool, has successfully detected, identified, and classified a supernova. This remarkable achievement comes courtesy of an international collaboration led by Northwestern University. The new system, named the Bright Transient Survey Bot (BTSbot), has effectively removed humans from the process, radically accelerating the search and classification of supernova candidates while eliminating the potential for human error.
Artificial Intelligence: Low-Paid Workers In Poor Countries Label Data For AI Tech Giants
An article in Wired exposes how large tech companies are using workers in poorer countries, from Philippines to Colombia, to label data for training AI at wages amounting to a pittance.
Artificial Intelligence: AI Helps Decipher A Word On The Herculaneum Scrolls
In a monumental breakthrough, the Herculaneum scrolls, long considered unreadable due to their damage from the eruption of Mt. Vesuvius in 79 CE, have yielded their secrets. Computer science professor Brent Seales, along with partners from EduceLab, the Library of the Institut de France, and the Vesuvius Challenge, hosted an event to announce the reading of an entire word from the scrolls. The Greek characters, πορφύραc, were revealed to mean “purple dye” or “clothes of purple.”
Artificial Intelligence: In Five Years’ Time, AI Could Escape Human Control – Geoffrey Hinton, the Godfather Of AI
Geoffrey Hinton, renowned as a “Godfather of AI,” has issued a warning that artificial intelligence could potentially surpass human control within the next five years due to rapid advancements in AI technologies. In a recent interview on CBS’ “60 Minutes,” the 75-year-old computer scientist expressed concern about AI systems writing their own code, making them difficult to manage. Hinton, who received the Turing Award in 2018 for his pioneering work in AI and deep learning, left his position at Google (NASDAQ: GOOGL) in May to openly address the risks associated with AI.
Venture Capital: Sea Drone Maker Saronic Scores $5M Series A
Saronic, a maritime autonomy company specializing in drone boats, has successfully secured $55 million in a Series A funding round, with Caffeinated Capital leading the investment. This round also saw participation from notable backers, including 8VC, U.S. Innovative Technology Fund, Andreessen Horowitz, Lightspeed Venture Partners, Point72 Ventures, Silent Ventures, Overmatch Ventures, Ensemble VC, and Cubit Capital. This substantial funding signifies Saronic’s commitment to addressing critical capability gaps at sea through attritable and autonomous platforms. With this infusion of capital, Saronic aims to accelerate its research and development efforts and expand its in-house manufacturing capabilities to facilitate rapid production.
Artificial Intelligence: Klarna Unveils AI Image Recognition Tool For Shopping
Klarna, the AI-powered global payments network and shopping assistant, recently introduced 13 innovative products as part of its Spotlight Fall launch. The flagship feature, the Shopping Lens, empowers users to capture images of items in their surroundings, instantly identify where to purchase them, and secure the best deal using Klarna’s search and comparison tool.