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| 1 | | Sam Altman, the CEO of OpenAI, is set to make his first testimony before Congress next week as lawmakers strive to develop regulations for swiftly progressing AI. Altman will appear before the Senate Judiciary Subcommittee on Privacy, Technology, and the Law on Tuesday, when he will speak on ways to keep AI in check as the technology becomes more widespread. More: - The hearing, titled "Oversight of AI: Rules for Artificial Intelligence," will also include Christina Montgomery, IBM's VP and chief privacy and trust officer, and Gary Marcus, an AI author and professor emeritus at New York University.
- Sen. Richard Blumenthal, D-Conn, the subcommittee's chair, said the hearing represents the start of the panel's work to oversee and clarify AI technologies and advanced algorithms.
- The night before the hearing, Altman will also attend a dinner with House Democrats and Republicans that's aimed at educating congress members on AI.
- Last week, Altman was one of the tech CEOs to attend a White House meeting on AI, which focused on guaranteeing regulatory protections. When asked if companies agree on regulations, Altman said, "We're surprisingly aligned on what actions should be taken."
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| 2 | | What happened: According to a recent study, most university students surveyed have a positive view of AI tools in higher education, particularly ChatGPT, with over a third of the students saying they use it regularly. A staggering 95% were familiar with ChatGPT, while their knowledge of other chatbots was significantly lower. What the numbers say: According to the study, 56% of students have a positive attitude toward the use of chatbots in their studies, and 35% use ChatGTP on a regular basis. While 60% of students opposed a ban on chatbots, a larger majority (77%) was against banning other AI tools like Grammarly in education. Despite the widespread use of AI, 62% of students also believed that the use of chatbots during exams should be considered cheating. Why it matters: Chalmers University of Technology in Sweden surveyed 6,000 students for the study, which was the first large-scale European exploration of students' attitudes toward AI in higher education. The results show that while students are optimistic about AI and don't want to ban it, most have ethical concerns. 
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| 3 | | Two European parliamentary committees have overwhelmingly approved the latest version of the draft AI Act, the EU's overarching rules for governing AI systems. The tougher draft rules now include bans on facial recognition programs in public, predictive policing AI systems, and emotion recognition, among other technologies. New amendments also add requirements for the foundation models and transparency measures for generative AI applications like ChatGPT. More: - Based on the technology's risk, the law labels AI as either unacceptable, high-risk, or largely unregulated. AI systems with unacceptable risks will be banned.
- Lawmakers have now expanded what's banned to include real-time and post-remote biometric identification, predictive policing, certain emotion recognition systems, and indiscriminate scraping of biometric data from social media for facial recognition databases.
- The law also promotes regulatory sandboxes to test out AI before it's deployed. It orders the creation of a public database of "high-risk" AI systems.
What's next: - The AI Act faces a plenary vote in June before moving into "trilogues." Final approval is expected before spring 2024.
- Once approved, the law will be the world's first rules governing AI. Companies and other affected parties would have a grace period of ~2 years to comply.
- Violators could face hefty fines of up to €30M ($33M), or 6% of their annual global revenue. For tech giants such as Meta or Google, this could potentially translate to billions of dollars.
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| 4 | | Meta Platforms unveiled "AI Sandbox," a testing ground for advertisers to try out the company's new generative AI tools. The company is inviting a select group of advertisers to experiment with the tools before rolling them out to more brands this summer. More: - AI Sandbox includes three generative AI features:
- The first allows brands to create different versions of their ad copy that are tailored to different target audiences using text prompts.
- The second one is a background generation tool that uses a text-to-image generator to create colorful backgrounds for ads.
- The third is an imaging cropping tool that adjusts the aspect ratios of photos and videos for different platforms, such as social media and short videos.
- Meta said it plans to integrate these features into unspecified products later this year.
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| 5 | | Google has made its text-to-music AI, MusicLM, available to the public for testing. The experimental music creator can be accessed through Google's AI Test Kitchen on the web, Android, and iOS. More: - Like other AI generators, MusicLM starts with a text prompt. Users type in a natural language description of what music they'd like, including the instruments, mood, and genre.
- The AI generates a 20-second music sample based on the prompt, with some samples including "wawawa" vocals.
- While Google researchers previewed MusicLM in January, the company chose not to release the model publicly over concerns about copyrighted material appearing in the generated songs.
- To address the issues, MusicLM's public version doesn't let users create music with certain artists or vocals.
- A user who requests a sample "in the style of U2," for example, will receive an error message.
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| 6 | | 🍋 FRESH FUNDING 🍋 - Generative AI startup Runway secured $100M through its recent Series D funding round.
- Automated vehicle inspection system maker UVeye brought in $100M in Series D funding led by Hanaco VC, with participation from GM Ventures, CarMax, W.R. Berkley Corporation, and F.I.T. Ventures.
- London-based Hackajob raised a $25M Series B to help companies hire better for technical roles using machine learning.
- Chinese robotics startup Pudu Robotics raised $15M in Series C3 funding.
- Range, a startup that provides an AI-powered wealth management platform, secured a $12M funding round led by Gradient Ventures, with participation from Expa, Red Sea Ventures, 8-bit Capital, and angel investors.
For the latest on AI startup funding and more in the VC community, subscribe to our Inside Venture Capital newsletter. | | | |
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- Intel and Boston Consulting Group (BCG) have partnered to sell generative AI tools to corporate customers. The companies will also sell their technology to other companies, allowing them to train their AI systems using proprietary data without sharing it with Intel or BCG.
- Former Google program manager Yiğit Ihlamur launched Vela Partners, an "AI-powered" venture capital firm with $25M under management and 32 portfolio companies. They include food service AI robot startup Bear Robotics and AI-powered self-checkout startup Grabango.
- Bessemer Venture Partners, a San Francisco-based VC firm, is allocating $1B to invest in AI startups. Bessemer will tap into funds from its current capital reserves and can invest beyond the $1B earmarked for AI.
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 | AI and technology writer | | Beth is a writer and editor at Inside.com covering artificial intelligence and daily technology news. She has written the Inside AI newsletter since 2019. You can reach her at Beth.Duckett@inside.com. | | This newsletter was edited by Aaron Crutchfield | |
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