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| Hey Insiders, Welcome to Inside AI! Here's our rundown of the day's top stories: - AI and data firm Databricks acquires generative AI startup MosaicML in a $1.3B deal.
- OpenAI seeks to create an AI intelligent personal assistant for work.
- Insilico Medicine advances AI-designed therapy for Idiopathic Pulmonary Fibrosis in Phase 2 trial.
Scroll down for some quick hits, and then let us know what other content you'd like to see in future issues. Beth
p/beth-duckett | |
| 1 | | Data and AI firm Databricks is acquiring generative AI startup MosaicML in a deal worth $1.3B. Databricks and MosaicML are partnering to enable businesses to create their own language models using proprietary data rather than relying on third-party models trained on public data. More: - The acquisition aims to provide enterprises with a unified platform to manage data assets and build secure generative AI models.
- MosaicML, which focuses on reducing the cost of generative AI, will become a standalone service within Databricks.
- MosaicML's large language models will be incorporated into Databricks' Lakehouse platform.
- Following the acquisition, the entire MosaicML team, including CEO Naveen Rao, will join Databricks.
- San Francisco-based MosaicML, established in 2021, has secured $64M in funding from investors such as Lux Capital and DCVC.
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| 2 | | What happened: The Verge, Vox Media's Insights and Research team, and The Circus polled over 2,000 U.S. adults to gauge their opinions, thoughts, and desires regarding AI. What the numbers say: Their findings, titled "Hope, fear, and AI," show that despite all the media attention, many AI tools still have limited adoption, particularly among older users. Fewer than 60% of respondents have used or heard about ChatGPT, the most popular generative AI tool, with numbers even lower for Microsoft's Bing AI, Google's Bard, and Midjourney. 
Almost 75% of individuals believe AI will have a significant or moderate impact on society, surpassing the percentages for electric vehicles (69%) and the relatively low 34% for NFTs. 
Generative AI, which includes text, image, and idea creation, is the driving force behind the recent boom. The Verge's survey found that answering questions and brainstorming were the top AI uses cases among respondents. 
Moreover, the majority believe that AI outperforms their own capabilities in content creation. 
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| 3 | | OpenAI wants to transform ChatGPT into a highly intelligent personal assistant for work, according to a report by The Information. The effort, which is likely years away, would create a personal assistant capable of tasks like drafting emails or documents in a person's writing style with the latest business information. More: - OpenAI's CEO, Sam Altman, has reportedly discussed incorporating autonomous AI agent capabilities into the assistant.
- The company recently hired Peter Deng, formerly from Facebook, as VP of consumer product, which could be related to the assistant effort.
- However, issues remain, such as a need to gain permission to train an AI model on a user's personal data and protect against information leaks.
- To achieve personalized and quick responses, OpenAI's assistant software could also require partial storage on user devices. It could be tough to make the AI models small enough without compromising performance quality, according to The Information.
Zoom out: - OpenAI's assistant features could clash with Microsoft, its primary partner and investor.
- Microsoft, through its deal with OpenAI, has perpetual access to OpenAI's LLMs.
- The former is also exploring how to use the models to create a more personalized AI assistant.
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| 4 | | Insilico Medicine, led by scientist Alex Zhavoronkov, has administered a groundbreaking therapy for chronic lung disease idiopathic pulmonary fibrosis (IPF) in a Chinese patient. The drug, INS018_055, is the first-ever "AI-discovered and AI-designed" medication to enter phase 2 clinical trials. More: - Insilico's AI platforms have the potential to double the productivity of major pharmaceutical companies, significantly reducing drug discovery time and costs, according to Zhavoronkov.
- Insilico has attracted partnerships with major pharmaceutical firms like Sanofi, Fosun, and Johnson & Johnson, which have access to its AI technology.
- By utilizing generative AI, Insilico swiftly identifies drug targets and designs molecules tailored to combat specific diseases.
- The global AI in drug discovery market is projected to grow from $1.4B in 2022 to $9.7B by 2032.
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| 5 | | Eric Schmidt, former Google CEO and co-founder of Schmidt Futures, warned that misinformation surrounding the 2024 elections is a major short-term danger of AI. Despite efforts by social media companies to address false information generated by AI, Schmidt believes they haven't found a viable solution yet. More: - Speaking on CNBC's "Squawk Box" today, Schmidt predicted a potentially chaotic scenario for the 2024 elections due to the accelerated spread of misinformation.
- He also criticized tech giants for cutting down on content moderation roles and stressed the need to identify AI-generated content on platforms.
- Last month, Schmidt said he believes AI represents an "existential risk" that could cause harm to many people.
- Schmidt, Google's CEO from 2001 to 2011 and a former chair of the National Security Commission on AI, did not propose a clear solution for regulating AI, which he said remains a "broader question for society."
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| 6 | | AI Events and Conferences: - Ai4 2023: Aug. 7-9, Las Vegas.
- Efficient Generative AI Summit: Sept. 11, Santa Clara, California.
- AI Hardware Summit: Sept. 12-14, Santa Clara, California.
- Edge AI Summit: Sept. 12-14, Santa Clara, California.
- MLCon NYC 2023: Sept. 25-28, New York or online.
- AI & Big Data Expo: Sept. 26-27, Amsterdam.
- AIAI Computer Vision Summit — Berlin: Oct. 5, Berlin, Germany.
- WorId Summit AI: Oct 11-12, Amsterdam.
- AI World Barcelona: Generative AI Conference: Nov. 14-15, Barcelona, Spain.
- AI & Big Data Expo Global 2023: Nov. 30-Dec. 1, Olympia, London.
- The AI Summit New York: Dec. 6-7, New York City.
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| 7 | | QUICK HITS - Kubernetes doesn't need to be complex. Join us for a conversation about how to increase developer productivity & reduce your pull request time by 75%.*
- Snowflake announced an expanded partnership with Microsoft to incorporate generative AI into its Data Cloud product.
- Ramp, a finance automation company, has acquired Cohere.io, a startup known for its AI-driven customer support tool, according to exclusive information shared with TechCrunch.
- BentoML, a startup providing a framework to make it easier to build and ship AI applications, raised $9M in a seed round led by DCM Ventures, with Bow Capital also participating.
- AI-powered analytics platform ThoughtSpot acquired business intelligence startup Mode Analytics for $200M.
- Researchers are gathering recordings in Minnesota to study the red-headed woodpecker, whose populations are dwindling. They will use AI to identify its calls in extensive audio data.
- It's never been easier for your sales organization to accelerate growth. Learn how AI and more can help you sell in a whole new way.*
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Term of the Day Weighted average: A weighted average is a type of average that considers each element's relative importance in the dataset. Question of the Week How do you feel about the phrase "The customer is always right"? Join the conversation |
INSIDE AI LEADERBOARD (7 DAYS) |
 | 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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