AI Business Weekly: Top Stories & Key Moves - May 27, 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.

Innovations and Research Advances:

• OpenAI Showcases New AI Technologies at VivaTech: OpenAI revealed its integration of multiple AI models, including ChatGPT, Voice Engine, and Sora, to create generated narrated videos. Read more

• Arc Search Unveils 'Call Arc' for AI-Powered Phone Interactions: 'Call Arc', a feature allowing users to get AI answers by holding their phones to their ears, simulating a phone call interaction. Read more

• Microsoft Introduces 'Copilot+ PCs' and 'Recall': Microsoft announced 'Copilot+ PCs', a new category of computers that run generative AI locally, and 'Recall', a tool that makes user activity searchable. Read more

• Apple’s WWDC 2024 to Feature AI Innovations: Apple’s WWDC may include AI-generated emoji and an OpenAI partnership. Read more

Industry Dynamics, Politics, Governance, and Trends:

• Google's AI-Generated Summaries Under Scrutiny for Accuracy: Google has recently faced criticism as its AI-generated search summaries in the U.S. have sometimes produced inaccurate results. Read more

• Concordia University Researcher Uses AI to Identify Counterfeit Coins: A researcher at Concordia University is leveraging AI to identify counterfeit coins. Read more

• Arizona Secretary of State Warns AI Could Magnify Disinformation Ahead of Election: The Arizona secretary of state warns that AI could be a ‘magnifier’ of disinformation ahead of the election. Read more

• EU Countries Endorse Landmark AI Rules: Europe's landmark rules on artificial intelligence will enter into force next month, setting a potential global benchmark for AI technology used in business and everyday life. Read more

Investments and Growth:

• OpenAI Secures $250M Deal with News Corp: OpenAI has secured a $250 million deal with News Corp, aiming to leverage AI across major publications like WSJ, New York Post, and MarketWatch. Read more

• AI and ML Ventures Draw $21.6 Billion in Q1 2024: The AI and ML sectors have secured substantial venture capital, amounting to $21.6 billion in the first quarter of 2024. Read more

• Scale AI Raises $1 Billion: Scale AI raised $1 billion in a round led by Accel, valuing the startup at $13.8 billion, nearly double its previous valuation. Read more

• Suno Secures $125 Million for Generative AI Music Platform: Music startup Suno secured a $125 million round to further develop its platform that allows users to create songs from simple text prompts. Read more

• DeepL Raises $300 Million: AI translation and language startup DeepL locked up a $300 million round at a $2 billion post-money valuation, led by Index Ventures. 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.