AI Business Weekly: Top Stories & Key Moves - July 16, 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 healthtech projects and generative AI advancements to international regulatory efforts, join us as we explore the diverse facets driving the future of AI.

AI Innovations and Research Advances:

• DIGITAL Innovation Cluster Invests $15 Million into AI Megaproject from Consortium of Canadian Healthtech Companies: Canada’s federally funded Global Innovation Cluster for digital technologies (DIGITAL) is investing $15.3 million into Health Compass II, the continuation of an artificial intelligence (AI) integration project from a consortium of Canadian healthtech companies. Read more

• Mendel AI Joins NVIDIA Inception Program to Accelerate AI Innovations in Life Sciences: By joining NVIDIA Inception, Mendel will receive access to NVIDIA’s industry-leading technology, including the latest NVIDIA NIM inference microservices to accelerate Mendel’s Hypercube AI solution, and technical expertise in artificial intelligence, deep learning, and data science. Read more

• Mile-High AI: NVIDIA Research to Present Advancements in Simulation and Gen AI at SIGGRAPH: NVIDIA is taking an array of advancements in rendering, simulation, and generative AI to SIGGRAPH 2024, the premier computer graphics conference, which will take place July 28 – Aug. 1 in Denver. Read more

• Samsung's Latest Galaxy AI Features Tipped to be Heading to These Older Phones: Samsung just launched the Galaxy Z Fold 6 and the Galaxy Z Flip 6 with its latest One UI 6.1.1 software on board – complete with the newest Galaxy AI upgrades – and we've now got a better idea about which other Galaxy phones might also be in line for the update. Read more

• Google Maps Update: Top 5 New AI-Powered Features for You: Google Maps has recently received a significant update packed with AI-powered enhancements, making the app even more useful for both pedestrians and drivers. Here are the five best new features that you can look forward to using. My personal favorite seems to be the “Immersive View for Routes” feature. Read more

• How Europe’s Universities are Using AI to Battle Dementia: If there’s one area where AI can truly have an unprecedented positive impact, it is healthcare — especially when it comes to the diagnosis and treatment of currently incurable diseases such as dementia. Read more

  

  Samsung's latest foldables come with One UI 6.1.1 (Image credit: Samsung)

Industry Dynamics, Politics, Governance, and Trends:

• Generative AI for Creativity and Innovation: Have you seen the headlines about the new study in Nature that “conclusively proves” remote work harms innovation and creativity? The narrative that traditional, in-person work environments are the sole breeding grounds for innovation and collaborative breakthroughs has dominated the discourse. In reality, this narrative is not only outdated but fundamentally flawed in the context of our modern, technologically-driven world. Read more

• What Does the UK Public Think About AI?: Artificial intelligence (AI) has rapidly evolved from a futuristic concept to an everyday reality for millions of people in the United Kingdom (UK). There are many new applications that promise to transform how people work, learn, communicate, and navigate the world around them, and even more on the horizon that offer enormous potential. Read more

• Collision Conference Tackles AI Governance and Management: Collision is one of the biggest technology and start-up conferences in North America. The Toronto event had less hype and more focus on finding the right approach to deploying and managing AI. Read more

• Clip Features AI-Generated Trump Voice Calling Republicans 'Dumbest Group of Voters': An audio clip features former U.S. President Donald Trump saying Republicans are "the dumbest group of voters in the country." Read more

• China Leads the Patents Race for Generative AI, with Tencent and Baidu Topping the List: Geographically, China leads with 38,210 inventions from 2014 to 2023, far outpacing the U.S. (6,276), Republic of Korea (4,155), Japan (3,409) and India (1,350). Read more

• San Francisco Office Vacancies Hit All-Time High — Despite Silicon Valley AI Boom: More than one in three offices in San Francisco are vacant despite an artificial intelligence boom that has boosted the stocks of major tech giants based in Silicon Valley. Read more

Investments and Growth:

• Apple's New Artificial Intelligence (AI) Features Could Push This Semiconductor Company to a $1 Trillion Valuation: Apple Intelligence’s on-device AI processing and Private Cloud Compute system could be a major win for chip foundry Taiwan Semiconductor Manufacturing Co. (TSM), potentially pushing it to a $1 trillion valuation. Read more

• Microsoft and Apple Exit OpenAI’s Board: Despite investing $13.1 billion in OpenAI, Microsoft has exited the board of the company behind ChatGPT. Read more

• AMD to Acquire Finland-Based Startup Silo AI for $665 Million: AMD has announced the acquisition of Silo AI, Europe’s largest private AI lab, to build smart devices, autonomous vehicles, and more. Read more

• Accenture Acquires Cientra to Expand Silicon Design Capabilities: Accenture has acquired Cientra, a silicon design and engineering services company, to enhance its ability to support growing data computing needs. Read more

• Skild AI Raises $300M for Robotics AI: Skild AI, building robot brains for various applications, has raised $300 million in a Series A round, valuing the company at $1.5 billion. Read more

• Hebbia Secures $130M to Enhance AI Data Analysis Capabilities: Hebbia, an AI startup focused on analyzing complex data for business questions, raised $130 million in a Series B round, valuing the company at approximately $700 million. Read more

• Hayden AI Raises $90M to Improve Traffic Safety with AI: Hayden AI, a vision AI platform, raised $90 million to enhance traffic safety and accessibility using geospatial data and sensor systems. Read more

• Captions Raises $60M for Generative Video Creation Platform: Captions, a generative video creation and editing platform, raised $60 million in a Series C round, valuing the company at $500 million. 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.