AI Business Weekly - October 15, 2024 Edition

Author

Sameer Khan
October 15, 2024 • Estimated Reading Time: 8 minutes

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Hello AI Enthusiasts,

Welcome to this week’s edition of AI Business Weekly, where we explore the latest breakthroughs in AI innovations, investments, political trends, and product launches. This week, we look at how AI is reshaping healthcare, uncover the role of data strategies in fueling generative AI, and highlight some of the most significant investments in AI startups. Let's dive into the key updates from the past week.

AI Innovations and Research Advances

  • Johnson & Johnson’s 6 Ways of Using AI to Advance Healthcare
    AI is transforming healthcare by improving surgical training, expediting medical procedures, providing insights for healthcare providers, and personalizing patient care. Johnson & Johnson has embraced AI to revolutionize its processes globally.
    Read more

  • New IBV Study: AI Drives Mainframe Innovation
    IBM’s Institute for Business Value, in collaboration with Oxford Economics, surveyed over 2,500 global IT executives. The findings show that mainframes are crucial in supporting AI innovation, hybrid cloud strategies, and digital transformation, handling 70% of global transactions by value.
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  • Solid Data Strategies Fueling Generative AI Innovation
    Generative AI requires strong data foundations to deliver on its promise. MIT Technology Review Insights and Snowflake reveal that 78% of businesses lack this foundation, highlighting the need for robust data strategies to support AI innovation.
    Read more

  • AI Tongue Detects Differences Between Coke and Pepsi
    Researchers at Penn State have developed an electronic tongue capable of identifying subtle differences between liquids, including soda types. This AI-driven innovation could revolutionize food and beverage quality testing.
    Read more

  • AI Research Uncovers 160,000 New RNA Viruses
    An AI algorithm called LucaProt has helped scientists discover 160,000 new RNA viruses from environmental samples worldwide, broadening our understanding of viral diversity and ecology.
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A new study has identified over 160,000 new virus species in samples taken from environments across the planet.

Investments and Growth

  • Relyance AI Raises $32M to Safeguard AI Innovation
    Relyance AI secured $32.1M in Series B funding, led by Thomvest Ventures and M12 (Microsoft’s venture fund), to help businesses with AI-powered data governance and control.
    Read more

  • EvenUp Raises $135M, Hits Unicorn Status
    EvenUp, an AI startup specializing in legal tech for personal injury, has raised $135M in Series D funding, surpassing a valuation of $1 billion.
    Read more

  • VanEck Launches $30M Fund to Support AI Startups
    VanEck has introduced a $30M fund to invest in fintech, digital assets, and AI startups at pre-seed and seed stages, reflecting its strategy of early-stage investment in transformative technologies.
    Read more

  • Healthcare Startup Suki Raises $70M for AI Assistants
    Suki, which builds AI-powered assistants for hospitals, raised $70M in a Series D round, as the adoption of generative AI in healthcare continues to rise.
    Read more

  • Scope3 Raises $25M for Sustainable AI
    Scope3, a platform focused on decarbonizing media and advertising, raised $25M to expand its efforts in addressing the climate impact of AI.
    Read more

  • Mexico Pioneering AI Innovation for a Global Future
    Mexico is emerging as a key AI innovation hub, as highlighted during Microsoft’s AI Tour in Mexico City. AI is enabling a wide range of advancements across various industries.
    Read more

  • The Global Influence of Chinese AI Companies
    Chinese tech companies are playing an increasingly prominent role in shaping global AI governance. However, concerns are rising about the potential for authoritarian uses of their AI technologies.
    Read more

  • Alation Unveils AI Governance Solution for Enterprises
    Alation has launched a comprehensive AI governance platform to help enterprises safely scale their AI initiatives while adhering to data governance policies.
    Read more

  • AI's Influence on Election Campaigns
    AI is increasingly being used by political parties to shape election narratives through emotionally charged, AI-generated content, raising questions about its impact on public opinion.
    Read more

  • OpenAI Sees Rising Threats in Election Interference
    OpenAI reports an uptick in attempts to use its models to create fake content aimed at influencing elections, signaling new challenges for AI governance.
    Read more

Latest AI Feature Releases

  • SAP Launches AI-Assisted Capabilities in S/4HANA Cloud
    SAP has rolled out new AI-assisted capabilities for S/4HANA Cloud, including enhanced digital assistant features to streamline business operations.
    Read more

  • Opera’s AI Feature for Tab Control
    Opera has introduced a new AI-powered feature that allows users to control browser tabs via Aria, Opera’s AI assistant, revolutionizing the browsing experience.
    Read more

  • Meta Unveils New AI-Driven Ad Features
    Meta has announced updates to its advertising platform, focusing on AI-generated ads, video content, and partnerships with creators to enhance ad performance.
    Read more

  • AMD Launches Ryzen AI PRO 300 Series Processors
    AMD has launched the Ryzen AI PRO 300 Series processors, designed to boost business productivity with advanced AI features for conference calls, security, and more.
    Read more

  • Amazon Introduces AI Shopping Guides
    Amazon’s new AI-powered shopping guides help users research and compare products across various categories, streamlining the decision-making process.
    Read more

Amazon’s new AI Shopping Guides make it easier to research product types

Closing Thoughts

This week’s edition has demonstrated the accelerating role of AI across industries—from healthcare and governance to the latest AI-driven product releases. Stay informed to keep ahead of these trends, and we’ll see you next week with more exciting AI updates!