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Greetings, Insiders! Here are the latest AI headlines for today: - Microsoft is losing money on its GitHub Copilot.
- U.S. Space Force temporarily pauses use of generative AI tools.
- Democrats urge Biden to issue AI executive order.
- DeepMind cut employee costs amid decline in revenue.
Beth
p/beth-duckett | |
| 1 | | Microsoft is losing money on its GitHub Copilot AI code-generating service, according to The Wall Street Journal. The news was part of a larger story covering how tech companies, including Microsoft, Google, and OpenAI, are grappling with the challenge of making a profit from their generative AI tools. More: - While Microsoft charges $10 monthly for GitHub Copilot, the company loses an average of $20 per user each month, with heavy users costing up to $80 a month.
- The platform, powered by OpenAI's language models, helps programmers by suggesting code as they work.
- Its high cost is attributed to the expensive hardware and electricity required to train and run the models.
Zoom out: - Companies are now experimenting with new pricing strategies, such as higher fees for AI-infused software upgrades, to offset the costs.
- Microsoft plans to introduce its 365 Copilot for enterprise users on Nov. 1, which will cost an extra $30 per month per user for AI capabilities.
- Microsoft is also exploring more cost-effective ways to run its AI services, including developing its own AI chip.
Q: What other approaches do you think tech companies could take to make their generative AI tools more cost-effective and profitable? Join the discussion here. |     | |
| 2 | | The U.S. Space Force has temporarily banned the use of web-based generative AI tools and large language models, citing data security concerns. In a Sept. 29 memo, Space Force members were told they couldn't use GenAI tools like ChatGPT on government systems without explicit approval. More: - The strategic pause is meant to safeguard personnel and Space Force data while the branch determines how to integrate generative AI.
- In the memo, Space Force CTO Lisa Costa expressed optimism about GenAI's transformation in the workforce but stressed concerns about cybersecurity, data handling, and responsible adoption.
- Costa planned to release updated guidance on the issue within a month.
Zoom out: - The move has reportedly impacted over 500 Space Force members who were using Ask Sage, a GenAI platform that works with different large language models.
- Nicolas Chaillan, the company's founder, said over 10,000 customers in the rest of the Defense Department, including 6,500 in the Air Force, are still using the software.
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| 3 | | A group of U.S. Democrats, led by Sen. Ed Markey and Rep. Pramila Jayapal, is urging President Biden to transform the non-binding AI Bill of Rights into an official policy through an executive order. The AI Bill of Rights, released by the White House last year, outlines five key principles for AI use. More: - In a letter to the White House, the Democrats wrote that converting the AI Bill of Rights into federal policy would send a clear message that AI systems must have safeguards.
- Such a move would bolster efforts to promote racial equity and help underserved communities, they added.
- The request comes shortly after Biden said he plans to issue an AI-related executive order this fall geared toward "responsible AI innovation."
- While Biden didn't reveal exact details of the order, it's expected to build on his administration's plans for the AI Bill of Rights, according to CNN and Axios.
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| 4 | | DeepMind, Alphabet's AI lab, cut employee costs by 39% last fiscal year, according to a U.K. government filing. During the same time period, DeepMind's profit dropped to £60.9M ($74.9M), a more than 40% decrease from the £102.4M ($126M) earned in 2021. More: - In fiscal 2022, the London-based AI research company saw staff costs and related expenses drop to £594.5M ($732M), down from £969.4M ($1.2B) in 2021.
- After the cuts, DeepMind announced the closure of its first international AI research office in Edmonton, Canada.
- The downsizing came after its parent company, Alphabet, announced layoffs affecting approximately 12,000 employees.
- Alphabet, then Google, acquired DeepMind in 2014, four years after the AI lab was founded.
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| 5 | | According to IE University's latest tech survey, 68% of Europeans favor AI regulations to protect jobs, up by 18% in a year, possibly due to the rise of popular GenAI tools like ChatGPT and Bard. 
What the numbers show: IE University surveyed over 3,000 adults in 10 European countries about government regulation of automation to combat job loss and technological unemployment. Some countries saw substantial increases in support for the regulation, with Sweden (+50.2%), the U.K. (+40.75%), and Italy (+34.9%) leading the way. Estonia was the only nation where support decreased, dropping by 23% from the previous year. Zoom out: In other survey responses, 44% of Europeans said they trust the EU over their own governments and corporations to regulate AI. Only in the U.K. does a majority (51%) trust their government more than the EU for AI regulation. About a third of Europeans (34%) are also open to cognitive augmentation through brain implants, particularly in Sweden (49%), Poland (47%), and Romania (46%). Additionally, 18% of Europeans would favor an AI-based diagnosis over a human doctor's, with higher trust in Sweden (27%) and Romania (25%). | | | |
| 6 | | 🍋 FRESH FUNDING 🍋 - AI-powered auto finance platform Lendbuzz bagged $45M in equity funding and $300M through a forward flow facility. Group 1001 led the equity funding, with 83North, O.G. Venture Partners, and MUFG Innovation Partners participating in the round.
- Machina Labs, a startup that leverages AI and robotics to manufacture advanced composites and metal products, raked in $32M in Series B funding. NVentures and Innovation Endeavors co-led the funding.
- Orbem, a deeptech German startup that uses AI-powered MRI technology to scan biological samples, raised €30M ($31.8M) in Series A funding led by 83 North.
- AI-powered salestech platform Conveyor raised a $12.5M Series A round led by Cervin Ventures.
For the latest on AI startup funding and more in the VC community, subscribe to our Inside Venture Capital newsletter. | | | |
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- Startup Character.AI launched Character Group Chat, a feature for its subscribers to create group chats with both themed AI chatbots and human participants.
- Booz Allen Hamilton unveiled new AI capabilities targeting federal military and civilian clients, with ambitions to secure $500M to $700M in government AI contracts for fiscal year 2024.
- South Park's upcoming special, "Joining the Panderverse," takes aim at AI. The episode streams on Paramount+ on Oct. 27 in the U.S. and Canada and the following day in the U.K. and Australia.
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INSIDE AI LEADERBOARD (7 DAYS) |
 | AI and technology writer | | Beth is an editor and writer of Inside's AI and Tech newsletters, with a career spanning journalism since 2007. She has written for publications including The Arizona Republic and USA Today and authored a book on the solar industry in 2016. Reach her at Beth.Duckett@yahoo.com. | | This newsletter was edited by Aaron Crutchfield | |
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