AI Business Weekly - October 29, 2024 Edition

Author

Sameer Khan
October 28, 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’re highlighting exciting new AI-driven ETF launches, breakthrough advancements from OPPO, funding successes in the AI sector, and national strategies on AI governance. Let’s dive into the key updates from the past week.

AI Innovations and Research Advances

  • BlackRock Broadens Access to Global AI and Technology Growth Opportunities Through Two New Active ETFs
    BlackRock expanded investor access to technology and AI equities by launching the iShares A.I. Innovation and Tech Active ETF (NYSE: BAI) and the iShares Technology Opportunities Active ETF (NYSE: TEK). While the AI revolution is in its early stages, BlackRock sees its long-term impact as transformative.
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  • OPPO Leads AI Innovation with World's First On-Device MoE Implementation
    OPPO has pioneered the Mixture of Experts (MoE) architecture on mobile devices, boosting AI processing efficiency and paving the way for advanced on-device AI functionalities. This innovation opens new avenues for AI integration with mobile hardware.
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  • GE Healthcare Opens AI Innovation Lab to Accelerate AI Projects
    GE Healthcare recently launched an AI Innovation Lab, dedicated to fostering early-stage AI projects aimed at revolutionizing healthcare.
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  • Potato’s AI Research Assistant Offers Inspiration for Science Experiments
    The new AI research assistant by Potato analyzes research publications to generate ideas for scientific experiments, streamlining research processes and potentially sparking groundbreaking discoveries.
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  • A ‘Chemical ChatGPT’ for Discovering New Medications
    Researchers at the University of Bonn have developed an AI capable of predicting chemical structures for effective drug components. Termed as a "chemical ChatGPT," this model may significantly impact pharmaceutical research.
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A shoulder scan (left) is compared to the same image sharpened using a GE Healthcare AI feature (right).

Investments and Growth

  • Sierra, Bret Taylor’s AI Startup, Valued at $4.5 Billion
    Sierra, an AI startup co-founded by ex-Salesforce co-CEO Bret Taylor, raised substantial funding, achieving a valuation of $4.5 billion.
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  • Mave Raises $2 Million to Develop Real Estate AI Assistant
    Mave, an AI assistant for real estate, has secured $2 million in pre-seed funding and launched its beta program, supporting agents and brokers in the industry.
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  • interface.ai Secures $30M to Become Leading AI Company in Banking
    Banking-focused AI firm interface.ai completed a $30 million funding round, reinforcing its position as a top provider of AI solutions for financial institutions.
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  • CrewAI Closes $18M Funding Round with High-Profile Backers
    Agentic AI startup CrewAI secured $18 million in seed and Series A funding, with backing from notable AI researcher Andrew Ng and HubSpot co-founder Dharmesh Shah.
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  • Thomson Reuters Acquires Materia AI for Accounting Automation
    Thomson Reuters has acquired Materia AI, enhancing its capabilities in automated research and accounting workflows for financial professionals.
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  • The Biden Administration’s National Security Memorandum on AI
    The Biden administration issued a National Security Memorandum outlining strategies to secure U.S. AI leadership and ensure safe AI development for national security.
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  • Danish Government Relaunches Cyber Security Council Amid AI Expansion
    In response to the expanding digital landscape, Denmark has rebooted its National Cyber Security Council to fortify national digital security against potential AI-related threats.
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  • Hong Kong Introduces AI Policy and Proposes Tax Breaks for Crypto
    As part of its strategy to position itself as a hub for tech innovation, Hong Kong unveiled its AI finance policy and proposed tax breaks for the crypto industry.
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  • Ad Campaign Warns Against Misleading AI Ahead of 2024 Election
    Ahead of the U.S. presidential election, a new ad campaign has been launched to caution the public about deepfakes and other deceptive AI tactics used for misinformation.
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  • Germany's AI Strategy to Compete with the U.S. and China
    Germany’s government has launched a comprehensive AI strategy to elevate its position in the global AI race, aiming to compete with the U.S. and China in AI innovation.
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Latest AI Feature Releases

  • Kindle Scribe Adds New AI-Enhanced Note-Taking and Sharing Features
    Amazon’s Kindle Scribe now includes generative AI features to improve note organization and sharing, making it even more versatile for users.
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  • Google’s Pixel 10 and Pixel 11 to Feature Advanced AI Camera Tools
    The upcoming Pixel 10 and Pixel 11 models will incorporate AI tools for video editing and intuitive photo adjustments, providing enhanced multimedia experiences.
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  • Apple Unveils New AI Features in iOS 18.1 Beta
    Apple has released new AI features in the beta version of iOS 18.1, with planned public availability in the coming week, showcasing continuous innovation in user-friendly AI.
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  • Wondershare’s PDFelement Rolls Out Enhanced AI for PDF Management
    PDFelement’s latest release introduces AI capabilities that simplify PDF editing, annotation, and information extraction, aiming to boost productivity for document-heavy tasks.
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  • Canva Introduces New Text-to-Image AI Tool
    Canva’s latest AI-driven text-to-image feature, building on its Leonardo.ai acquisition, empowers users to create high-quality images directly from text prompts, enriching its design platform.
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Closing Thoughts

This week’s developments highlight AI’s accelerating impact across industries, from healthcare and banking to consumer technology. As more companies enter the AI space and governments implement strategic policies, the transformative potential of AI continues to grow. Stay tuned for next week’s updates as we track the latest in AI advancements and opportunities.