AI Business Weekly - September 17, 2024 Edition

Hello AI Enthusiasts,

Welcome to this week’s edition of AI Business Weekly, your go-to source for the most important developments in the world of artificial intelligence. As AI continues to shape industries and transform business landscapes, staying informed on the latest innovations is key to remaining competitive and forward-thinking. In this edition, we’re diving deep into a wide range of advancements, from cutting-edge AI tools for consumer goods to life-saving healthcare applications, transformative financial solutions, and beyond. Whether you're an industry expert or simply curious about the ever-evolving AI space, this week’s insights will help you understand how AI is influencing various sectors and driving the future of innovation. Let’s dive into the updates!

AI Innovations and Research Advances

  • NIQ Unveils Groundbreaking AI Tools for CPG Brands at FastCompany Innovation Festival 2024: NielsenIQ (NIQ) introduced BASES AI and the CPG industry’s first large language model. These tools will help brands leverage responsible AI to drive innovation and grow market share. Read more

  • “Yes, Chef” AI Innovation for the Foodservice Industry: Cut+Dry CEO Mani Kulasooriya is leveraging AI to digitize the $1 trillion U.S. foodservice sector, introducing innovations to transform the supply chain. Read more

  • BCLC and Future Anthem Establish AI and Data Innovation Hub: British Columbia Lottery Corporation (BCLC) has partnered with Future Anthem to create an AI and Data Innovation Hub in Vancouver, aimed at enhancing the player experience across all gambling platforms. Read more

  • AI Tool Cuts Unexpected Hospital Deaths by 26%: A Canadian study found that an AI-based early warning system at St. Michael's Hospital reduced unexpected deaths by 26%. Read more

  • Could AI Be Your Next Investment Advisor?: The Ontario Securities Commission (OSC) released a study exploring how AI is influencing retail investor decision-making, with Canadians expressing cautious optimism. Read more

Investments and Growth

  • Glean Raises $260M, Doubling Valuation to $4.6 Billion: AI-enhanced work assistant startup Glean raised $260 million in Series E funding, doubling its valuation to $4.6 billion. The company connects enterprise databases with generative AI search tools. Read more

  • World Labs Secures $230M for Spatial Intelligence AI: Co-founded by AI pioneer Fei-Fei Li, World Labs launched with $230 million in funding to develop AI models that perceive and interact with the 3D world. Read more

  • OpenAI Seeks $150 Billion Valuation in New Funding Round: OpenAI is reportedly seeking $6.5 billion in new funding, potentially raising its valuation to $150 billion. The firm is also looking to secure $5 billion in debt financing. Read more

  • Typeface Acquires Treat and Narrato to Expand AI Capabilities: Generative AI startup Typeface acquired Treat and Narrato to bolster its portfolio, focusing on enterprise use cases like personalized photo products and AI-powered content creation. Read more

  • Canada Endorses International AI Military Agreement: Defence Minister Bill Blair announced that Canada is working on incorporating AI in its military, while endorsing international agreements on responsible AI use in military applications. Read more

  • Deepfakes and Misinformation in Elections: As we near the end of the "Year of the Election," deepfakes and AI-generated misinformation have played a significant role, presenting challenges for businesses and political entities alike. Read more

  • AI’s Role in the 2024 Indian General Election: AI-powered deepfakes and disinformation campaigns surged during India’s 2024 General Election, raising concerns about AI’s influence on democratic stability and voter decisions. Read more

  • AI Chatbots and Political Bias: New research reveals that AI chatbots powered by large language models may unknowingly carry political biases, raising concerns about their influence on societal discourse. Read more

  • China’s Ambitions for Global AI Governance: China continues to develop its global AI governance framework, seeking to shape international AI regulations in line with its political ideology. Read more

Latest AI Feature Releases

  • Apple Intelligence and iPhone 16 Update: Although Apple’s iPhone 16 was announced with AI-powered "Apple Intelligence" features, these capabilities are expected to roll out in future iOS 18.1 updates. Read more

  • Prime Video Introduces AI Features for ‘Thursday Night Football’: Amazon’s Prime Video is enhancing the viewer experience for Thursday Night Football with new AI-powered real-time insights and visual capabilities. Read more

  • Oracle Adds AI Features to HeatWave Analytics: Oracle’s HeatWave analytics service introduced new generative AI features, aimed at providing better data insights for enterprise users. Read more

  • Guesty Launches New AI Tools for Property Managers: Guesty, a property management platform, released two new AI-powered features, including an AI Assistant website builder and ReviewSmart AI for better property management. Read more

  • Adobe Previews New AI Video Generation Tools: Adobe previewed its upcoming AI video generation tools, part of the Firefly video model, expected to be available later this year. Read more

Fei-Fei Li, the Stanford professor many deem the “Godmother of AI,” has raised $230 million for her new startup, World Labs

Closing Thoughts
This week’s edition of AI Business Weekly highlights the ongoing momentum in AI across sectors such as consumer goods, healthcare, and finance. As AI innovations, investments, and regulations evolve, businesses must remain agile to seize opportunities while addressing emerging challenges. Thanks for reading AI Business Weekly—stay tuned for more insights next week!

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