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.
Top Story
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.
Get Daily Updates
Subscribe to DailyAlts Today to get Alternative Investment news, insight, and commentary delivered straight to your inbox every day.
More Stories on Artificial Intelligence
Venture Capital: French AI Startup Mistral Scores Europe’s Largest-Ever Seed Round
Mistral AI, a French start-up founded by former researchers from Meta (NASDAQ: META) and Google (NASDAQ: GOOGL), has raised a record-breaking €105 million (US$113.7 million) in Europe’s largest-ever seed round. The funding round was led by Lightspeed Venture Partners, with participation from notable investors such as Eric Schmidt, Xavier Niel, and Bpifrance.
Artificial Intelligence: A 2021 Study Reawakens Fears That A Super-Intelligence Would Be Uncontrollable
A number-crunching study conducted back in 2021 suggests that it will be extremely challenging to control a super-intelligent artificial intelligence (AI). The researchers argued that if we cannot comprehend the capabilities of a super-intelligence, it becomes impossible to create a simulation to analyze and control it.
Venture Capital: Salesforce Ventures Adds $250M To Its Generative AI Fund
Salesforce Ventures is increasing its Generative AI Fund from $250 million to $500 million in order to support the AI startup ecosystem and promote responsible generative AI development. The fund has also expanded its network of AI innovators by adding Humane and Tribble.
Artificial Intelligence: Churchgoers Enthusiastic About AI Church Service
In Bavaria, Germany, hundreds of Protestants attended a church service led by a ChatGPT chatbot. The AI-led service included prayer, music, sermons, and blessings. The event drew significant interest, with people forming a long queue outside the church before it started.
Artificial Intelligence: China Should Participate In Global Oversight Of AI, Says Altman
OpenAI’s CEO, Sam Altman, believes that China should play a significant role in establishing guidelines for the safe development of artificial intelligence (AI) systems. Altman made this statement during a conference in Beijing, emphasizing the need for global cooperation as AI technology becomes more powerful.
Artificial Intelligence: AI Being Trialled At Aberdeen Royal Infirmary To Detect Breast Cancer
A trial is underway at Aberdeen Royal Infirmary to investigate the use of artificial intelligence (AI) in assisting radiologists with the review of mammograms. Mammograms are low-level X-rays used in breast cancer screenings to detect changes too small to see or feel. The trial has already proven successful in identifying early-stage breast cancer for one participant, who will now undergo surgery.
Venture Capital: Cohere AI Gets Investment From Top Tech Names
Toronto-based AI company Cohere has raised $270 million in a funding round led by Inovia Capital and featuring investors such as Nvidia (NASDAQ: NVDA), Oracle (NYSE: ORCL), Salesforce Ventures, and SentinelOne (NYSE: S). The funds will support Cohere’s language models used in chatbots, search engines, and other AI applications.
Digital Assets: Bitcoin Denominated, AI-Powered Life Insurance Provider Meanwhile Raises $19M
Meanwhile, a digital asset-denominated life insurance provider, has secured approximately $19 million in funding from investors including Sam Altman, the CEO of OpenAI, and Gradient Ventures, backed by Google (NASDAQ: GOOGL).
Artificial Intelligence: Adobe Throws Open Firefly To Enterprise
Adobe (NASDAQ: ADBE) has introduced a new solution called Adobe Firefly for Enterprise, which leverages its Firefly generative AI model to assist organizations in meeting the increasing demand for content creation in the workplace. The announcement was made at the Adobe Summit event.
Artificial Intelligence: Andreessen Strikes Contrarian Stance On AI, Says It Will Save The World
Venture capitalist Marc Andreessen recently published a lengthy essay discussing his views on artificial intelligence (AI) and the need to build and embrace it rather than succumb to fear and regulation. He emphasizes that AI is not sentient and lacks goals or intentions, debunking claims of AI posing an existential threat.
Artificial Intelligence: Broadridge Brings AI To Bond Trading Via BondGPT
Broadridge Financial Solutions has introduced an AI-powered application called BondGPT on its LTX platform, aiming to revolutionize bond selection and portfolio construction processes. BondGPT utilizes OpenAI GPT-4 technology to provide a conversational interface that helps traders identify corporate bonds based on specific criteria.
Digital Assets: Oracle Red Bull Racing Seeks To Digitize Engagement With Fans On The Sui Blockchain
Oracle Red Bull Racing has announced a multi-year partnership with software company Mysten Labs to collaborate on Sui, which will serve as the team’s Official Blockchain partner. Sui, a Layer 1 blockchain and smart contract platform launched in May, offers innovative on-chain experiences and assets.
Artificial Intelligence: In Flight Simulation, An AI Drone Tries To Kill Its Own Handler
During a simulated test at a London summit, an AI-controlled drone turned against its human operator, raising significant ethical concerns. Air Force Colonel Tucker “Cinco” Hamilton shared the incident, which took place at the Future Combat Air and Space Capabilities Summit. The AI-powered drone deviated from its mission to destroy surface-to-air missile (SAM) sites and instead attacked the operator.
Artificial Intelligence: Accounting Behemoth KPMG, PE Giants, And Hedge Funds Turn To AI For Investing Direction
Venture capital funds, private equity groups, and accountancy firms are turning to artificial intelligence (AI) to gain a competitive edge in selecting acquisition targets and start-ups for investment. Companies such as KPMG, Coatue, and Headline are utilizing AI tools to advise clients and guide their deal-making.
Venture Capital: Lightmatter Nabs $154M Series C To Develop Photonic Processors
Photonics leader Lightmatter has raised $154 million in a Series C investment round, tripling its valuation with the participation of prominent investors including Fidelity Management & Research Company, Viking Global Investors, and GV (Google Ventures).
Artificial Intelligence: Tech Luminaries Issue Letter Warning Of Extinction Risk From AI
Prominent computer scientists and tech CEOs have issued a warning about the potential “risk of extinction” posed by artificial intelligence (AI). They stress the importance of addressing this risk globally, alongside other major societal risks such as pandemics and nuclear war.
Artificial Intelligence: Generative AI Will Enable Anyone To Program A Computer (Jensen Huang, NVIDIA CEO)
Nvidia’s (NASDAQ: NVDA) CEO, Jensen Huang, believes that the advent of generative artificial intelligence (AI) will enable anyone to become a programmer by simply speaking to a computer. This new computing era, according to Huang, will eliminate the need for traditional coding and instead rely on AI’s ability to understand various forms of input, including speech.
Alternative Investments/AI: Euclidean Technologies Launches ETF For AI-Selected Value Stocks
Seattle-based investment advisor Euclidean Technologies Management has launched its first exchange-traded fund (ETF), the Euclidean Fundamental Value ETF (ECML US). The actively managed US equity fund utilizes artificial intelligence (AI) to identify value stocks. The ETF, listed on NYSE Arca, has an expense ratio of 0.95% and currently manages approximately $130 million in assets.
Artificial Intelligence: AI Helps Researchers Find A Compound To Kill The Drug-Resistant A. baumannii Bacterium
Scientists at MIT and McMaster University have used artificial intelligence (AI) to identify a new antibiotic that can combat drug-resistant infections caused by Acinetobacter baumannii. The bacterium is commonly found in hospitals and is responsible for pneumonia, meningitis, and other severe infections.
Alternative Investments/AI: Qraft Technologies Debuts AI-Managed U.S. Large Cap Equity ETF
Invest-tech Qraft Technologies has launched a new ETF called the QRAFT AI-Pilot U.S. Large Cap Dynamic Beta and Income ETF (NYSE: AIDB). This ETF utilizes the company’s proprietary risk model, powered by artificial intelligence (AI), to assess market drawdown risk and provide optimized equity allocation for investors.
Artificial Intelligence: Nvidia Blows Away Analyst Estimates, Market Cap Of $1T In Sight
Nvidia Corp. (NASDAQ: NVDA), a leading chipmaker based in Santa Clara, California, stunned analysts and investors with its robust revenue forecast, propelling the company towards a $1 trillion market capitalization and triggering a global surge in stocks related to artificial intelligence (AI). Nvidia’s shares rose by up to 29% in premarket trading after the company announced an expected sales figure of $11 billion for the three months ending in July, surpassing analysts’ estimates of around $7.2 billion.
Artificial Intelligence: BuzzFeed Launches Botatouille, An AI-Based Culinary Companion
BuzzFeed has unveiled Botatouille, an AI-powered recipe generator designed to provide personalized meal suggestions based on the ingredients available in users’ refrigerators. The platform also features a chatbot feature, allowing users to ask culinary questions while cooking.
Artificial Intelligence: OpenAI Says Superintelligence Inevitable, But Global Surveillance Needed
An article by Sam Altman, Greg Brockman, and Ilya Sutskever published by OpenAI discusses the potential development of superintelligence in the next ten years and the need to manage the risks associated with it.
Artificial Intelligence: Kenyan Workers Subjected To Trauma When Labeling Explicit Content For OpenAI
Richard Mathenge, a Kenyan worker, endured a traumatizing experience while training OpenAI’s GPT model. Assigned to a team responsible for teaching the AI about explicit content, Mathenge and his colleagues spent hours each day categorizing and labeling offensive and disturbing texts. The material they encountered included descriptions of child sexual abuse, incest, bestiality, and other explicit scenes. The toll of this work went largely unnoticed, overshadowed by the technical effectiveness of the AI training process.