AI Business Weekly - July 23, 2024 Edition

In partnership with

Hello AI Enthusiasts,

Welcome to another exciting edition of AI Business Weekly, where we bring you the latest advancements, industry dynamics, and critical updates from the world of artificial intelligence. Our community of AI enthusiasts is growing, and we're thrilled to have you with us on this journey. Whether you're a tech expert, a business leader, or just curious about AI, we're here to keep you informed and engaged.

AI Innovations and Research Advances

• Flexible Robotic Systems: Researchers are combining language models with robotics, resulting in more interactive and flexible systems like PaLM-E and RT-2. These models can now ask questions and perform real-world tasks effectively. Read more

• AI Innovation Thrives in Ireland: The DSW Enterprise AI Symposium 2024, held in collaboration with National College of Ireland (NCI), showcased Ireland's AI adoption journey for enterprises, uniting over 85 leading AI professionals and industry thought leaders. Read more

• Performance of Autonomous AI Agents: New studies highlight significant improvements in autonomous AI agents, which can master complex games and handle real-world tasks such as online shopping and research assistance. Read more

• GE HealthCare to scoop up clinical AI assets from Intelligent Ultrasound: Intelligent Ultrasound develops AI-enabled imaging analytics tools that integrate with ultrasounds to enable more efficient diagnostics. GE will incorporate these technologies across its portfolio of ultrasound tools to improve streamline workflows and ease-of-use for clinicians. Read more

Investments and Growth

• SoftBank’s ASI Vision: SoftBank CEO Masayoshi Son predicts artificial superintelligence (ASI) could become a reality within the next decade, influencing future AI investments and developments. Read more

• DreamBig Latest Chip Startup To Go Big: San Jose, California-based DreamBig Semiconductor became the second chip startup this week to raise big — locking up a $75 million equity round co-led by the Samsung Catalyst Fund and Sehat Sutardja. Read more

• Amazon and Adept Partnership: Amazon’s strategic hiring from AI startup Adept indicates a focus on enhancing its AI capabilities through experienced talent acquisition. Read more

• Generative AI Investments Surge: Investments in generative AI nearly octupled from 2022, reaching $25.2 billion in 2023, with major players like OpenAI and Hugging Face securing substantial funding rounds. Read more

• Cybersecurity Funding Jumps 144% In Q2: Venture funding to cybersecurity startups had its best quarter since Q1 2022 — surging 144% year to year. Cyber startups saw a robust $4.4 billion invested in only 153 deals. Read more

• Corporate Adoption of AI: A McKinsey survey reveals that 42% of organizations report cost reductions from AI implementations, while 59% report revenue increases, underscoring AI's business efficiency gains. Read more

Politics, Governance, and Trends

• EU AI Regulation: The EU's new AI Act requires rigorous transparency and safety standards for foundation models within a year. This includes documenting training methodologies and reporting serious incidents to mitigate systemic risks. Read more

• China’s Comprehensive AI Legislation: China is drafting a comprehensive AI law to unify its fragmented regulations, which may include a national AI office and annual social responsibility reports. Read more

• AI in Digital Marketing: AI is revolutionizing digital marketing by offering personalization, predictive analytics, and advanced content creation tools, transforming the way businesses engage with customers. Read more

• AI Regulatory Predictions: Diverse regulatory requirements across regions are leading to phased AI rollouts, with companies adopting safety and governance packages to reduce risks. Read more

Industry Dynamics

• ModelScope by Alibaba Cloud: Alibaba Cloud has launched an English version of ModelScope, an open-source AI model community, to make generative AI more accessible globally. Read more

• Amazon’s BASE TTS: Amazon has developed a new LLM for text-to-speech, BASE TTS, demonstrating emergent abilities with a 980-million parameter model. Read more

• Meta AI Developments: Meta has developed a compact language model optimized for mobile devices, enabling high performance in a smaller, more efficient package. Read more

• Google’s Video Generation Model - Veo: Google introduced Veo, a new generative video model capable of producing high-quality 1080p resolution videos. This model is expected to enhance YouTube Shorts and other products. Read more

• Samsung’s AI Advancements: At the recent Galaxy Unpacked event, Samsung announced the integration of advanced AI capabilities into their new Galaxy Z Fold6 and Galaxy Z Flip6 devices, enhancing mobile experiences. Read more

• Ex-OpenAI and Tesla engineer Andrej Karpathy announces AI-native school Eureka Labs: Andrej Karpathy revealed his new venture, Eureka Labs, an AI-native school combining human expert-written materials with AI Teaching Assistants. Read more

Poll: Most Exciting AI Development

Closing Thoughts

Thank you for being a part of the AI Business Weekly community. Your enthusiasm and curiosity drive us to bring you the best in AI news and insights. Together, we can explore the limitless possibilities that AI offers and stay ahead in this rapidly evolving field. Have a fantastic week ahead, and we look forward to sharing more exciting updates with you next time!

Your Brilliant Business Idea Just Got a New Best Friend

Got a business idea? Any idea? We're not picky. Big, small, "I thought of this in the shower" type stuff–we want it all. Whether you're dreaming of building an empire or just figuring out how to stop shuffling spreadsheets, we're here for it.

Our AI Ideas Generator asks you 3 questions and emails you a custom-built report of AI-powered solutions unique to your business.

Imagine having a hyper-intelligent, never-sleeps, doesn't-need-coffee AI solutions machine at your beck and call. That's our AI Ideas Generator. It takes your business conundrum, shakes it up with some LLM magic and–voila!--emails you a bespoke report of AI-powered solutions.

Outsmart, Outpace, Outdo: Whether you're aiming to leapfrog the competition or just be best-in-class in your industry, our custom AI solutions have you covered.

Ready to turn your business into the talk of the town (or at least the water cooler)? Let's get cracking! (And yes, it’s free!)