AI Business Weekly: Top Stories & Key Moves - April 29, 2024

Welcome to AI Business Weekly, your trusted source for staying updated on the latest advancements in artificial intelligence. In this edition, we'll delve into groundbreaking innovations, regulatory developments, and significant investments shaping the AI landscape. From AI-powered note-taking to government regulations, join us as we explore the diverse facets driving the future of AI.

AI Innovations and Research Advances:

• AI-Powered Note-Taking in Sudbury: A family health team in Sudbury, Ont. is leveraging AI to assist family doctors and health-care professionals in note-taking, streamlining processes. Read more

• Google's AI Essentials Course: Grow with Google launches AI Essentials, a self-paced course aimed at helping individuals across various roles and industries learn AI skills, supported by a $75 million AI Opportunity Fund. Read more

• Snowflake AI Research Unveils Arctic: Snowflake AI Research introduces Arctic, an open-source large language model designed for enterprise AI applications, boasting a unique Dense-MoE Hybrid transformer architecture for cost-effective and accessible AI integration. Read more

Industry Dynamics, Politics, Governance, and Trends:

• Tech Leaders Join AI Safety Board: Sam Altman of OpenAI, along with chief executives of Nvidia, Microsoft, and Alphabet, join a federal advisory board focused on secure AI use within U.S. critical infrastructure, addressing regulatory concerns. Read more

• Italy Adopts AI Law Package: Italy approves a series of new norms to regulate the use of AI, aiming to boost industry while safeguarding against misuse, setting a global precedent. Read more

• French Government's AI Modernization: French Prime Minister Gabriel Attal announces plans to utilize French-made AI systems to simplify administrative procedures, alongside the creation of 300 additional France Services centers by 2027. Read more

• AI's Political Orientation Prediction: AI's ability to predict political orientation from expressionless faces raises concerns about privacy, highlighting the need for ethical AI development and regulation. Read more

• U.S. and China's First AI Talks: The U.S. and China are set to hold their first high-level talks on artificial intelligence within the coming weeks, amid ongoing discussions on tech policies and platforms like TikTok. Read more

Investments and Growth:

• Prime Intellect Raises $5.5M: AI startup Prime Intellect secures $5.5 million in funding to develop a high-powered, decentralized research platform, contributing to the growth of AI innovation. Read more

• Perplexity Eyes $250M Raise: Perplexity AI aims to raise over $250 million at a valuation of $2.5 billion or more, following a $62.7 million round led by Daniel Gross, with support from prominent investors. Read more

• Augment's $227M Funding: Palo Alto-based AI coding assistance startup Augment secures a $227 million Series B round at a $977 million post-money valuation, fueling its mission to empower developers with AI tools. Read more

• Cognition Raises $175M: San Francisco-based Cognition receives a $175 million investment led by Founders Fund, supporting its AI-powered coding assistant, Devin, and furthering its growth in the AI sector. Read more

Conclusion:

As we draw the curtains on this week's edition of AI Business Weekly, we recognize the ever-evolving nature of artificial intelligence. From regulatory milestones to transformative innovations, the AI landscape continues to redefine industries and societies. We extend our gratitude to our dedicated readers for their unwavering support. Join us next week as we continue to navigate the dynamic world of AI, together.