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| 1 | | Nvidia, Oracle, and Salesforce Ventures were among the investors in a $270M funding round for Cohere, a startup working on generative AI for enterprise licensing. The Series C round values the OpenAI competitor at more than $2B. More: - Cohere creates customizable large language models to power features like interactive chat and text generation in applications.
- The startup aims to offer a gen AI service to companies that would address concerns about proprietary data associated with Microsoft-backed OpenAI's GPT models.
- Cohere said its enterprise AI suite could be deployed within a customer's existing cloud virtual private cloud or on-site.
- DTCP, SentinelOne, Mirae Asset, Schroders Capital, Thomvest Ventures, and Index Ventures were among the other investors in the Series C round.
Zoom out: - Founded by Aidan Gomez, Ivan Zhang, and Nick Frosst in 2019, Toronto-based Cohere has raised over $440M.
- Gomez, Cohere's CEO, was among the Google VBrain researchers to co-author the landmark "Attention Is All You Need" paper introducing the Transformer architecture that powers GPT-4 and other LLMs.
- Other Transformer co-authors who have left Google to firm their own startups include Noam Shazeer, who founded Character AI, and Niki Parmar and Ashish Vaswani, who founded Adept AI.
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| 2 | | What happened: LinkedIn is the latest company to launch an AI tool for ad campaigns, responding to the growing trend of marketers adopting generative AI. Details: LinkedIn's tool suggests advertising headlines and text copy using OpenAI models. It leverages data from a marketer's LinkedIn page and Campaign Manager settings to offer AI-generated suggestions, which marketers can review and modify to match their strategies. While currently only available to select North American advertisers in English, the tool will expand to more regions and languages soon. Brands that should care: Meta, Google, and Amazon have also jumped on the trend of generative AI in advertising, launching or exploring similar tools in the past few months. Similarly, CRM giant Salesforce just unveiled AI-powered Marketing GPT and Commerce GPT, which bring generative AI to its marketing and commerce clouds. What the numbers say: A LinkedIn-commissioned study found that 55% of surveyed CMOs, CFOs, and senior-level B2B marketers plan to leverage generative AI features to boost efficiency. Another survey, by Salesforce and YouGov, found that marketers believe generative AI could save them an average of five hours of work a week. In that survey of 1,000+ marketers, 51% currently use the AI tools, while 22% plan to adopt them soon. Their top use cases were content creation and writing marketing copy: 
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| 3 | | Adobe is opening up access to its Firefly AI image generator to large business customers with a pledge to pay any legal fees if they're sued by creators for copyright infringement. Legal uncertainties regarding generative AI and copyright have been hindering business adoption. However, Adobe says Firefly is trained on its copyrighted stock images, openly licensed content (like Creative Commons images), and public-domain content, allowing the company to offer full indemnification to businesses for any content created using Firefly. More: - If a customer faces infringement lawsuits, for example, Adobe will pay damages and provide legal assistance.
- Enterprise customers will be able to subscribe to company-wide access to the generative AI tools.
- As part of the deal, businesses can customize Firefly by training it to incorporate their own logos and products, making sure content falls within their brand guidelines.
- Adobe's 12,000 enterprise customers include Coca-Cola, Walgreens, Home Depot, General Motors, and U.S. Bank.
Zoom out: - Meanwhile, the publicly available beta of Firefly launched in March.
- Since then, users have created about 200 million AI-generated images using the model.
- In May, Adobe offered generative AI tools, still in beta, to Creative Cloud users through Adobe Photoshop.
- This includes the popular Generative Fill tool, which extends images and adds or removes objects.
Adobe Generative Fill: 
Credit: Adobe | | | |
| 4 | | Meta is incorporating generative AI into Instagram, Messenger, and WhatsApp. During an all-hands meeting Thursday, CEO Mark Zuckerberg unveiled new AI tools being developed by Meta for both internal and consumer use, including text, image, and video generators. More: - According to Axios, Meta is working on the following AI features:
- A tool that uses text prompts to modify photos for Instagram Stories.
- AI agents with different personalities and abilities in Messenger and WhatsApp. The AI-powered chatbots would engage and entertain users, according to the company.
- In a statement to Axios, the CEO said Meta has seen "incredible" qualitative breakthroughs in generative AI in the past year that will allow it to build AI into every product.
Zoom out: - Zuckerberg is presenting the generative AI efforts as an extension of Meta's metaverse initiatives, including using AI to develop the 3D visuals for the metaverse.
- Meta is giving employees access to internal generative AI tools to facilitate prototype development.
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| 5 | | U.S. President Joe Biden and U.K. Prime Minister Rishi Sunak announced the "Atlantic Declaration," a deal pledging their economic cooperation in areas like climate change, critical EV minerals, and AI. The wide-ranging pact aims to foster tech advancements, enhance supply chains, and invest in industries as a response to China and Russia's threats. More: - The deal, announced Thursday, comes after Biden and Sunak met at the White House.
- It is focused on reducing trade barriers and strengthening defense ties, taking a more targeted approach instead of announcing a comprehensive trade deal.
- They have also forged a civil nuclear partnership to support clean energy efforts and reduce dependence on Russian fuel.
AI mentions: - Sunak and Biden have agreed to work together on AI safety.
- During a press conference on the deal, Biden called AI's potential "staggering," saying Britain will "help lead a way through this."
- Sunak stressed the need for world governments to address AI with the same urgency as climate change, though he didn't share specific plans to tackle the issue.
- In the fall, the U.K. will host an international AI summit for "like-minded allies" to shape future AI regulations, helping to ensure its development is safe and avoids unacceptable risks. China will not be included.
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- Trading firm Citadel Securities is actively seeking to license software from AI startups focused on large-language models or acquire stakes in them, sources told The Information.
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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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