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| Happy Friday! Here are today's top AI stories: - U.K. watchdog voices child privacy concerns over Snapchat's chatbot.
- OpenAI is looking into developing its own AI chips.
- Meta is paying millions to celebrities to use their likenesses for AI characters.
If you find this newsletter useful, please share it with your friends and colleagues. Thank you! Beth
p/beth-duckett | |
| 1 | A U.K. watchdog has raised concerns regarding children's privacy risks associated with Snap's AI chatbot. If Snap fails to address the concerns adequately, "My AI" could potentially be banned in the U.K., according to the country's Information Commissioner's Office (ICO). More: - Today, the U.K. data protection watchdog issued a preliminary enforcement notice to Snapchat's parent company, citing potential risks to children's privacy from the chatbot "My AI."
- In the U.K., Snap launched My AI to premium subscribers in February and expanded to all British Snapchat users in April.
- The ICO is investigating how the AI chatbot handles personal data from approximately 21 million U.K. Snapchat users, including 13-17-year-old children.
Zoom out: - Today's notice from the ICO doesn't confirm any data protection law violation, and Snap is allowed to respond to the concerns before any final enforcement decision is made.
- The company claims its AI chatbot underwent a comprehensive legal and privacy review before launching to the public.
Q: Do you think the rush to release AI products could lead to higher privacy risks or other issues? Share your thoughts and join the conversation here. |     | |
| 2 | OpenAI is looking into developing its own AI chips and other options to address a shortage of advanced processors in the market, sources told Reuters. OpenAI now has secured over $11B in venture capital and is approaching $1B in annual revenue, making it well-positioned for R&D investments. 
Background: To power and develop its AI models, OpenAI relies on clusters of Nvidia GPUs in the cloud and a supercomputer from Microsoft that's equipped with 10,000 Nvidia GPUs. The news: Due to the ongoing shortage of Nvidia high-end GPUs, OpenAI executives are considering various options, including designing its own AI chips internally or diversifying suppliers beyond Nvidia, according to Reuters. Related: Next month, Microsoft is set to introduce its first AI chip at its annual developers' conference, a move that will also curb its reliance on Nvidia AI chips amid surging demand. | | | |
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| 3 | | Meta is paying millions to famous figures like Snoop Dogg, Tom Brady, and Charli D'Amelio to use their likenesses for AI characters, The Information reports. According to an insider, the top creators stand to receive payments totaling millions of dollars each over several years. More: - Meta sought to secure big names and is reportedly paying each celebrity over $1M for their likeness rights.
- One creator, whose name was not disclosed, is earning approximately $5M over two years for about six hours of studio work, according to The Information.
- The 28 AI characters on Meta's messaging apps provide real-time human-like interactions, answering questions and engaging with users based on that character's personality.
- Examples include Tom Brady as Bru, a "wisecracking sports debater who pulls no punches," and Dwyane Wade as Victor, an "Ironman triathlete motivating you to be your best self."
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| 4 | | According to a survey by KPMG, CEOs identified investment in generative AI as a top priority for their companies. While 62% of CEOs polled anticipate a return on their generative AI investments in three to five years, only 23% expect a return within one to three years. More: - 57% of the CEOs said they're dedicating more capital investment to buying new AI technology.
- This is higher than the 43% who said they're investing more in developing their workforce's AI skills and capabilities.
- When asked about the top benefits of generative AI, CEOs cited increased profitability, new growth opportunities, enhanced innovation, and improved fraud detection and cyberattack responses.
- However, 81% are concerned that the absence of AI regulations in their industry will impede their organization's success.
- Ethical challenges, along with costs and technical skills, were named as the primary obstacles to adopting generative AI.
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| 5 | | Taiwan Semiconductor Manufacturing Co.'s (TSMC) revenue decline in Q3 was less than expected, thanks to growing demand from AI companies. TSMC is Nvidia's main contract manufacturer for AI accelerator chips. More: - According to Bloomberg, TSMC's Q3 revenue for July through September dropped by 11% compared to the previous year, reaching $17B.
- The figures, which are preliminary, still exceeded Wall Street's expectations of $16.5B.
- TSMC, a leading producer of advanced processors for devices like iPhones and Macs, suffered from plunging demand for consumer electronics after the pandemic, but the demand for AI-related chips, particularly for data centers, has boosted key clients like Nvidia.
- Investors are watching to see if rising AI chip orders could help overcome supply challenges and revive the chipmaking industry.
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| 6 | | Weekly roundup — The top AI stories you might have missed this week: - Google announced it is bringing generative AI capabilities from its Bard chatbot to its mobile virtual assistant. The product, Assistant with Bard, will undergo a limited test before rolling out to Android and iOS devices in the next few months.
- Google's newly unveiled Pixel 8 and Pixel 8 Pro smartphones include upgraded AI capabilities. The capabilities, including generative AI photo features, are powered by Google's new custom Tensor G3 chipset, though they won't be released immediately.
- Generative AI startup Anthropic is in talks with Google and other investors to raise an additional $2B, per The Information. Anthropic is aiming for a valuation between $20B and $30B, including the new investment.
- SoftBank CEO Masayoshi Son said he believes that artificial general intelligence (AGI), when AI surpasses human intelligence in most areas, will happen within a decade. During Wednesday's SoftBank World conference, Son said that AGI could be 10 times more intelligent than all human intelligence combined.
- U.S. Sen. Amy Klobuchar (D-Minn.) and U.S. Rep. Yvette Clarke (D-N.Y.) sent a letter to the CEOs of Meta and X, formerly Twitter, raising "serious concerns" about the growing number of AI-generated political ads on their platforms. The letter warns that a lack of transparency of content in the political ads could fuel election-related misinformation ahead of the 2024 elections.
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| 7 | | AI project advisor Miche Priest explores a world of possibilities for AI commercial products and human careers in this week's AI Talk. "AI will handle lower-level, basic, rote thinking, while humans will connect the dots in a higher-level, more complex manner." Click the photo below to read Miche's tips for commercializing AI products from her time in the field: 
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| 8 | | Quick Hits: - LiquidPiston's engines are up to 10x smaller and 30% more fuel efficient. Invest as they disrupt the $400B combustion engine market.*
- Canva introduced new AI tools to help office workers create designs, including video generation from text prompts.
- An AI model can potentially detect recent cannabis use by analyzing a person's heart rate and phone behavior, which could screen for intoxicated individuals needing medical attention.
- AI-powered parking platform Metropolis raised $1.7B in fresh funding consisting of $1.05B in Series C equity funding and $650M in debt.
- These are the 5 core strategies for cloud innovation that showcase how digital native businesses are harnessing cloud innovations. Read now.*
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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 Vibha Chapparike | |
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