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| 1 | | OpenAI has released a free ChatGPT iPhone app in the U.S., with an Android version coming soon. The first official mobile app for the language model competes with other third-party apps that use OpenAI software. More: - The iOS app is currently free and has no ads, with an optional $20 per month subscription for ChatGPT Plus.
- It syncs a user's chat history across devices and delivers the latest model enhancements from OpenAI.
- In addition to text inputs, the mobile app recognizes and responds to voice commands, though it can only generate text-based answers.
- While currently only available in the U.S., the app will be released worldwide "soon," according to OpenAI CTO Mira Murati.
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| 2 | | The news: ChatGPT has gained in popularity as a stock market adviser among Americans. According to a recent Motley Fool survey, 47% of U.S. adults have used ChatGPT for investment advice, and a significant majority would consider using it in the future. What the numbers say: The survey found that younger generations, particularly Millennials (50%) and Gen Zers (53%), are more likely to use ChatGPT for stock recommendations compared to Baby Boomers (25%). Higher-income individuals (77%) were more inclined to use the chatbot for investment advice than middle-income (43%) and low-income (23%) individuals. There were also gender differences, with 41% of women using ChatGPT for investing compared to 55% of men. The big picture: AI has the potential to significantly upend the finance industry. A new study out of the University of Florida found that ChatGPT, after being trained on recent news headlines, used sentiment analysis to achieve returns of over 500%, while an S&P 500 ETF resulted in a -12% return during the same period. Still: ChatGPT's training ended as late as September 2021, so its answers would not reflect the time period since then. Like other AI models, it has a tendency to make up information when it lacks answers, so investors would want to take a cautious approach when using the tool. 
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| 3 | | AI is expected to be a central focus at upcoming meetings of world leaders, where talks will revolve around its impact across different sectors and possible regulations. More: - OpenAI CEO Sam Altman is joining industry leaders from Microsoft and Google at the secretive annual Bilderberg Meeting held this week in Lisbon, Portugal. The meeting, known for its strict confidentiality and secrecy rules during closed-door talks, will revolve around AI and other topics, including international relations, trade, energy, and finance.
- G7 nation leaders are scheduled to have a "substantial conversation" on the future of AI during this week's G7 Summit in Japan, according to U.S. National Security Advisor Jake Sullivan. He said President Joe Biden would provide an update on recent talks held with major AI companies, highlighting the administration's effort to harness the opportunities of AI while responsibly managing its risks.
- The U.K.'s government is organizing a meeting with top executives from major AI companies to address the risks and benefits of the technology, sources told Bloomberg. The summit, possibly occurring this month, could include leaders from OpenAI, DeepMind, and Anthropic.
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| 4 | | Two U.S. senators have presented an updated version of proposed legislation, calling for the creation of a new federal agency to regulate AI and digital platforms. The bill, re-introduced by Sens. Michael Bennet (D-Colo.) and Peter Welch (D-Vt.), seeks to regulate AI products and tackle concerns about a lack of oversight in the technology sector. More: - The bill aims to create a Federal Digital Platform Commission to regulate companies using algorithmic processes for generating content.
- The five-member commission would have the authority to enforce rules and penalties and conduct investigations and hearings.
- Its goals are to make sure platforms' algorithms are fair, transparent, and safe, with broad oversight over social media and search engines.
- The bill also outlines requirements for algorithmic audits and public risk assessments for major platforms.
- It expands on the definition of algorithmic processes and grants the commission jurisdiction over the use of personal data, according to reports.
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| 5 | | BT Group, the largest mobile and broadband provider in the U.K., plans to reduce its workforce by up to 55,000 jobs by 2030. The company aims to replace some positions with AI technology. More: - Around 10,000 roles, mainly in customer service and network management, are expected to be automated, according to BT.
- CEO Philip Jansen has set a target to reduce costs and expenses by £3B ($3.7B) annually by 2025.
- BT is actively implementing a nationwide fiber-optic rollout and sees AI as advantageous for improving customer service and driving business growth.
- Goldman Sachs analysts predict that generative AI technologies could potentially automate around 300 million full-time jobs, affecting two-thirds of jobs in the U.S. and Europe to varying degrees.
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| 6 | | 🍋 FRESH FUNDING 🍋 - Everseen, a startup that leverages computer vision to avoid theft at self-checkout counters, raised $71.3M (€65M) in Series A funding led by Crosspoint Capital Partners.
- Artificial health general intelligence solution maker Hippocratic AI emerged from stealth with a $50M seed funding co-led by General Catalyst and Andreessen Horowitz.
- Brain-computer interface maker Paradromics secured $33M through a Series A round led by Prime Movers Lab, with additional backing from Westcott Investment Group, Dolby Family Ventures, and Green Sands Equity.
- NEA has reportedly committed $12M and is leading AI startup Rewind AI's Series A funding round. The firm was valued at $350M, 4.5 times higher than its previous valuation of $75M last year.
- OpenAI CEO Sam Altman is reportedly close to securing $100M for his crypto technology startup Worldcoin, which aims to develop an iris scanning technology to secure access to its own global cryptocurrency.
For the latest on AI startup funding and more in the VC community, subscribe to our Inside Venture Capital newsletter. | | | |
| 7 | | QUICK HITS - Cloud data provider Snowflake is reportedly in advanced talks to acquire search startup Neeva, founded by a former Google executive, to enhance its search capabilities with AI technology.
- Google's latest large language model, PaLM 2, utilizes nearly five times the training data of the previous version. Trained on 3.6 trillion tokens, PaLM 2 enables more advanced coding, math, and creative writing tasks over the initial PaLM, which was trained on 780 billion tokens.
- Chinese e-commerce giant Alibaba plans to spin off its cloud intelligence group, which combines AI and cloud services, as a separate publicly traded company.
- Stability AI, the AI startup known for Stable Diffusion, introduced an open-source version of DreamStudio, its design suite powered by AI.
- A new research study identifies six security risks associated with ChatGPT, which are harmful information gathering, malicious text, malicious code generation, offensive content production, fraudulent services generation, and private data disclosure,
- Google is testing an AI-powered "image question and answer" feature in its Lookout app for Android, which assists people with visual impairments. The feature uses DeepMind AI to provide detailed descriptions of images without captions or alt text.
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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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