| |
| Hey Insiders, Welcome to the Inside AI newsletter! Here are today's top stories: - Stanford researchers find top AI models don't meet EU AI regulations.
- U.S. job postings for generative AI rose 20% last month.
- Inflection, co-founded by LinkedIn's Reid Hoffman, reveals language model powering Pi chatbot.
- Google Cloud debuts AI-based anti-money laundering tool for banks.
Beth
p/beth-duckett | |
| 1 | | The headline: Companies like OpenAI, Google, and Meta could face compliance issues with the EU's upcoming AI Act, according to new research out of Stanford's Center for Research on Foundation Models. What happened: The researchers found that leading AI models, like OpenAI's GPT-4 and Meta's LLaMA, fall short of Europe's draft rules regulating AI technologies. Their study evaluated 10 top AI models and found that none fully comply with critical areas of the draft rules, particularly when it comes to copyrighted data. Based on 12 criteria from the EU law, the researchers found BigScience's BLOOM scored the highest, and Aleph Alpha and Anthropic's models scored the lowest. Why it matters: The EU AI Act, the world's first comprehensive rule governing AI, will likely hold significant influence in shaping global AI regulation when it comes into force in the next couple of years. It sets AI requirements covering a population of 450 million, forcing multinational companies to change their practices to comply. While generative AI systems like ChatGPT can continue operating under the proposed rules, they would have to abide by some transparency requirements, such as thorough documentation of any copyrighted material. 
|     | |
| 2 | | Generative AI (GA) job postings in the U.S. surged by 20% last month, according to Indeed. The data revealed that there were 204 GA-related job postings per million listings, more than double the figure from 2021. More: - Searches for generative AI jobs also increased significantly, reaching 147 per million in May, up from almost none in 2022.
- Among the AI job postings, data scientist roles accounted for 5%, while positions such as software engineer, machine learning engineer, and data engineer were also in high demand.
- Companies like Meta Platforms, Apple, TikTok, Pinterest, and Amazon.com are among those advertising AI positions on Indeed.
- Indeed also noted that tech jobs in the U.S. have plummeted by 43.6% since June 2022.
- The number of available AI jobs is failing to match the enthusiastic interest of job seekers, the platform added.
Credit: Reuters | | | |
| A message from our sponsor, Linqto. |  | | Artificial Intelligence (AI) is at the forefront of technological innovation, transforming industries and the way we live and work. The potential of AI is enormous, ranging from enhancing business operations to tackling global challenges like climate change and healthcare. AI's growing impact on various sectors indicates a promising investment opportunity. - Market Growth: The AI market was projected to grow from $58.3 billion in 2021 to $309.6 billion by 2026, representing a Compound Annual Growth Rate (CAGR) of 39.7% during the forecast period, according to MarketsandMarkets.
- Business Adoption: A 2020 survey from Gartner found that 59% of businesses have already implemented AI in some form, reflecting the broad adoption and trust in AI technologies.
- Impact on Economy: PwC estimated that AI could contribute up to $15.7 trillion to the global economy by 2030, a testament to the enormous economic potential of AI.
Investment Inflow: According to Statista, global investments in AI startups rose to a record high of nearly $40 billion in 2019, indicating a strong and growing interest in the sector. Learn More | |
|
| 3 | | AI software startup Inflection, co-founded by LinkedIn creator Reid Hoffman, revealed the large language model powering its conversational Pi chatbot. More: - Inflection-1 is comparable in size and capabilities to GPT-3.5, which powers the default version of ChatGPT.
- According to TechCrunch, Inflection-1 performed well in various sub-college exams and common sense benchmarks but fell behind in coding tasks.
- Inflection plans to release results for a larger model comparable to GPT-4 and PaLM-2(L) in the future.
Related: - The LLM powers Inflection's new product, Pi, a personal AI assistant designed to actively listen, remember, and engage in back-and-forth conversations akin to a sounding board.
- According to Inflection, Pi stands for "personal intelligence," offering a more supportive, personal experience than other AI models.
- Pi can be accessed through multiple platforms, including the web (heypi.com), a phone app (initially available for iOS), WhatsApp, SMS messages, Facebook messages, and Instagram DMs.
About Inflection: - The startup was co-founded in 2022 by Hoffman, DeepMind co-founder Mustafa Suleyman, and former DeepMind researcher Karén Simonyan.
- Last month, reports said the startup was in talks to raise as much as $675M in fundraising from undisclosed investors.
| | | |
| 4 | | Google Cloud has launched an AI-powered anti-money laundering product to help financial institutions detect money laundering more effectively. The product, called Anti Money Laundering AI, or AML AI for short, is already used by HSBC, Banco Bradesco, and Lunar. More: - The API tool leverages machine learning to generate risk scores that identify high-risk banking customers based on transactional patterns, network behavior, and Know Your Customer (KYC) data.
- While users can't input their own rules, they can customize the tool using their own risk indicators or typologies.
- During the trial period, partner HSBC experienced an increase in positive alerts by two to four times and a 60% reduction in false positives, according to Google Cloud.
- Despite substantial investments in anti-money laundering systems over the years, the UN estimates that around 2-5% of the global GDP, or up to $2T, is still laundered every year.
| | | |
| A message from our sponsor, Pendulum. |  | | The powerful probiotic Halle Berry swears by to improve her sugar & carb metabolism Meet Metabolic Daily, the multi-strain probiotic blend that helps your body do more with the food you eat. As award-winning actor Halle Berry says, “Metabolic Daily is a probiotic that everyone can take to help maintain healthy blood sugar and curb sugar cravings.” Halle reached out to Pendulum—the company that makes Metabolic Daily—after experiencing life-changing results taking Metabolic Daily which led to her newest role as their Chief Communications Officer. Formulated with the next-generation strain Akkermansia muciniphila, Metabolic Daily optimizes how your body metabolizes sugar and carbs to support a healthy weight. And if that wasn't enough, it also helps break down fiber and supports beneficial postbiotics and hormones, such as butyrate and GLP-1. The result? Less sugar cravings and crashes—just balanced, sustained energy throughout the day. Don’t wait—Inside readers get 20% off the first month of any Pendulum membership with code INSIDE20. Buy Now | |
|
| 5 | | Amazon Web Services announced a $100M investment in the AWS Generative AI Innovation Center, a program linking AI experts with customers and partners to spur generative AI development on the cloud platform. Participants will have access to free workshops, training, and AWS products like CodeWhisperer and Bedrock. More: - The center is not a physical location but rather a program offering no-cost assistance to customers.
- According to AWS, the center will help customers develop use cases aligned with their business values, create proof-of-concept solutions, and scale them for production.
- Highspot, a sales software company, is among the first clients. Initially, the program will prioritize customers who have expressed interest in generative AI, particularly in areas like finance, healthcare, media, and automotive.
- AWS CEO Adam Selipsky said the goal is to help customers move beyond the conceptual stage and accelerate their generative AI efforts.
- Other companies, including Salesforce, Workday, OpenAI, and Dropbox, have also invested significant funds in generative AI technologies.
| | | |
| 6 | | M&A Roundup: - Zendesk, a customer service and sales software provider, acquired Tymeshift, an AI-powered workforce management solution.
- GenAI, a generative AI solutions provider, has successfully completed the acquisition of Pulse AI, an AI compute business.
- ClaimLogiq, a South Carolina technology firm, has merged with Apixio, a Silicon Valley company specializing in applying AI to healthcare.
- Calgary-based Stream Systems has acquired Praemo, based in Waterloo, Ontario. The deal provides Stream Systems with access to Praemo's AI/Machine Learning team and advanced Praemo Razor engine.
| | | |
| 7 | | Quick Hits: *This is sponsored content. | | | |
| Upcoming Events | | JUN
22 | | Inside.com Book Club - Automate Your Busywork (June 2023) | | | | | | | | | * This is a sponsored event | | | |
Term of the Day Fund of funds: A venture capital fund that invests in other venture funds is called a fund of funds. Sometimes, such funds also invest directly in startups. 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 | |
| |
 | Get Started In Private Equity, With Linqto. | |
|
| |
|
| |
Comments
Post a Comment