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: EY Invests $1.4B In AI, Creates Large Language Model
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)
Artificial Intelligence: Coke Launches Futuristic Zero-Sugar Drink Created Using AI
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.
Artificial Intelligence: As Infertility Mounts, SpermSearch AI Helps Locate Elusive Sperm
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.
Artificial Intelligence: AI-Powered Sensors Aboard Satellites Help Detect Methane Leaks On Earth
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.
Artificial Intelligence: AI-Generated Avatar To Greet G20 Leaders; Nvidia’s Huang Meets PM Modi
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.
Venture Capital: Growth Warrior Capital Launches Elevo, An AI-Powered Pitch Deck Generator
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.
Venture Capital: Israeli Generative AI Startup AI21 Labs Rakes In $155M Series C Funding
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.”
Artificial Intelligence: AI Startup Hugging Face Lands $235M From Top Tech Companies
New York-based AI startup Hugging Face has secured a significant investment of $235 million in a funding round, driving its valuation to $4.5 billion. Notable contributions came from major tech players such as Google (NASDAQ: GOOGL), Amazon (NASDAQ: AMZN), Nvidia (NASDAQ: NVDA), Salesforce (NASDAQ: CRM), AMD (NASDAQ: AMD), Intel (NASDAQ: INTC), IBM (NYSE: IBM), and Qualcomm (NASDAQ: QCOM). The company’s focus is on creating tools for AI developers to openly share and test their work, akin to GitHub’s role in the programming realm.
Artificial Intelligence: Runaway Demand For Its AI Chips Catapults Nvidia To Record Quarterly Sales
Nvidia (NASDAQ: NVDA), the leading technology company and chip-maker, has reported record-breaking sales, more than doubling due to high demand for its artificial intelligence (AI) chips. In the three months ending June, revenue surpassed $13.5 billion, driven by strong performance in its data center business, particularly AI chips.
Artificial Intelligence: AI Will Assess LAPD Officers’ Language In Interactions With The Public
The Los Angeles Police Department (LAPD) has announced a new initiative to utilize artificial intelligence (AI) in analyzing body camera videos to evaluate officers’ language and tone during traffic stops. The goal of this project is to determine whether police language can sometimes unnecessarily escalate encounters with the public. The study, which will span three years, will involve researchers from the University of Southern California (USC) and other institutions.
Venture Capital: Genesis Therapeutics Closes $200M Round To Expand AI-Powered Drug Discovery
Genesis Therapeutics, an AI drug discovery company, has secured a $200 million Series B funding round to advance its AI-powered drug development pipeline into clinical testing. Founded in 2019 as a spinoff from Stanford University, Genesis focuses on utilizing its deep learning platform called GEMS to design small-molecule drug compounds and predict their interactions with the body, particularly with flexible or challenging proteins.
Artificial Intelligence: AI Will Guide India’s Chandrayaan 3 Lunar Lander To The Moon’s Surface On August 23
On August 23, Chandrayaan 3, a lunar lander mission by ISRO (Indian Space Research Organization), will attempt to land on the Moon using AI-controlled computer logic. The landing process, scheduled for 18:04 hours, will be managed entirely by the onboard AI system, without any manual interventions from ISRO scientists. The AI system is responsible for navigation, guidance, and control during the 15-minute descent phase.
Artificial Intelligence: AI To Help Patients Manage Diabetes
In an article in the Financial Times, author Patti Waldmeir discusses her use of an AI device named “Pearl” to manage her diabetes. Pearl is an AI-powered insulin pump that helps regulate her blood glucose levels by predicting fluctuations and administering insulin as needed. Waldmeir calls this pump her new artificial pancreas.
Artificial Intelligence: Former IBM AI Scientist Ferrucci Raises $60M
David Ferrucci, the AI scientist behind IBM Watson, has secured nearly $60 million in funding for his New York-based AI startup, Elemental Cognition. The company, founded in 2015, sold $59.95 million in equity to 17 investors and plans to raise an additional $5.75 million.
Artificial Intelligence: The Critical Shortage Of AI Chips
The demand for graphics processing units (GPUs) in the tech industry, particularly for artificial intelligence (A.I.) applications, has led to a desperate search for these essential components. Start-ups and investors are going to great lengths to obtain GPUs due to their role in powering A.I. products that analyze vast amounts of data. The scarcity of GPUs began when the rise of A.I., fueled by chatbots like ChatGPT, created a surge in demand, causing a shortage in the market.
Artificial Intelligence: As AI Booms, Softbank Plans A Blockbuster IPO From Arm Ltd
The year’s most significant initial public offering (IPO) centers around Arm Ltd., a lesser-known company despite its integral role in the tech world. Arm, headquartered in Cambridge, UK, specializes in designing key components for the chips powering nearly all smartphones globally. It was acquired for $32 billion by SoftBank (TYO: 9984) in 2016 and delisted from the London Stock Exchange.
Artificial Intelligence: AI-Powered Trousers Help Stroke Victim To Walk Again
Julie Lloyd, a 65-year-old stroke survivor, is making strides towards regaining her ability to walk independently, all thanks to a cutting-edge AI-powered garment. She is a participant in the pioneering trial of the “smart garment” known as “NeuroSkin,” which employs AI-controlled electrodes to stimulate her paralyzed leg.
Venture Capital: Elon Musk’s Neuralink Raises $280M Round Led By Founders Fund
Elon Musk’s biotech startup Neuralink has secured $280 million in a Series D fundraising round, with Founders Fund leading the investment. Founders Fund is a San Francisco-based VC firm established by Peter Thiel, who previously was one of the founders of PayPal (NASDAQ: PYPL).
Artificial Intelligence: Korea’s SK Telecom Joins Hands With Anthropic On LLM, Invests $100M
South Korean telecommunications company SK Telecom (KRX: 017670) (SKT) has invested an additional $100 million in AI safety and research firm Anthropic, building on a previous investment by SKT’s venture capital arm. The companies have formed a partnership to develop a multilingual large language model (LLM) tailored for the telecommunications industry.