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Is the AI industry in a bubble? The answer remains unclear as use cases continue rising amid hyped-up projects and false claims. Countries are looking for ways to regulate the industry.
Here are the headlines:
Meta revealed an upgrade to its Llama model ;
OpenAI's Sam Altman may be in for a big payday;
The FTC came hard for hyped AI firms;
Plus, our cousins across the border in Canada are looking for an AI framework ;
Also, AI-based learning is coming to Italian schools (read on to find out);
And much more!
Of course, it's your Daily AI™!
The DWN AI Index™ Update
On 9/26/24, the index had a -9.74-point change, at -0.31%, to close at 3128.54.
DWN/AI Index™ Individual Stock Closing Prices:
Amazon (AMZN) at $191.16,
Arista Networks (ANET) at $386.30,
C3.ai (AI) at $24.37,
CrowdStrike Holdings (CRWD) at $281.48,
Duolingo (DUOL) at $277.96,
iRhythm Technologies (IRTC) at $71.63,
Microsoft Corporation (MSFT) at $431.31
NVIDIA Corporation (NVDA) at $124.04,
Palantir Technologies (PLTR) at $37.10,
Taiwan Semiconductor Manufacturing (TSM) at $188.83,
Alphabet Inc. (GOOG) closed at $163.83, while Meta Platforms, Inc. (META) closed at $567.84.
Under the AI Hood
Meta
Social media behemoth Meta led the charge with the latest iteration of its Llama model. Meta launched the Llama 3.2 open-source model with several (interesting) capabilities.
The upgrade includes AI agents and visual features alongside mobile optimization.
OpenAI
ChatGPT maker OpenAI moved things up a notch with the revelation of plans to exit its nonprofit status. OpenAI is (reportedly) planning to give its CEO Sam Altman a 7% stake should the plans succeed.
Consequently, several execs have exited the company, including CTO Mira Murati.
Federal Trade Commission (FTC)
In a September 25 post, the FTC launched "Operation AI Comply," an initiative that introduces regulatory actions against deceptive industry practices and hype. The regulator also revealed successful enforcement actions, which include a crackdown on a company selling AI-powered fake reviews, a (seemingly) fake AI-powered lawyer, and others.
Furthermore, the regulator revealed enforcement actions against "DoNotPay," a firm that promised the services of an AI lawyer but (allegedly) failed to live up to the hype.
Industry Dive
Commonwealth of Canada
Across the border in Maple Country, Canadian Minister of Innovation Francois-Philippe Champagne highlighted the country's need for an AI framework. Champagne called the absence of appropriate legislation "embarrassing."
Consequently, Champagne indicated that adequate industry legislation creates trust and addresses concerns.
AstraZeneca/Immunai
The fight against cancer got a boost with a partnership between vaccine maker AstraZeneca and boutique biotech firm Immunai. In a September 26 announcement, AstraZeneca revealed the use of Immunai's immune system model to improve the efficiency of cancer drugs in the testing process.
Additionally, the cooperation will concentrate on biomarker categorization, dosage deployments, and clinical decisions.
Airtable
Project management-focused Airtable made things easier with the launch of an AI-powered ecosystem. New additions to its platform include App Library, a tool that enables firms to create AI-focused apps, and HyperDB. This solution allows for the integration of datasets up to 100 million records.
Everything Else
Meta AI
Interestingly, Meta's AI chatbot will feature popular actors, including Dame Judi Dench and John Cena. The celebrity chatbots will also feature Kristen Bell, Awkwafina, and Keegan-Michael Key.
The social media giant launched personalized chatbots earlier in the month.
Khalifa University (United Arab Emirates)
Across the oceans in the UAE, researchers at Khalifa University developed another AI use case. This time, AI tools can detect ancient artifacts beneath the desert sands.
Instead of surveys and satellite images, the researchers have deployed synthetic aperture radar (SAR) combined with a machine learning model to discover new finds in archeological sites.
The Italian Republic
Across the pond in Europe, Italian authorities deployed AI tools to boost learning efforts. In an initial pilot, 15 schools will participate in the project.
Additionally, the Italian Education Ministry is yet to provide details on a kick-off date.
Following the Money
Microsoft
Microsoft CEO Satya Nadella unveiled a $1.3 billion investment at his Mexico City AI tour. The three-year cash infusion aims to improve ecosystem infrastructure and provide training access, with a five million-person target.
Runway AI, Inc
Following its successful partnership with Hollywood heavyweight Lionsgate, boutique AI video generation platform Runway revealed a reward initiative for filmmakers. The firm launched the "The Hundred Film Fund," a program designed to assist filmmakers with their efforts.
Subsequently, the $5 million program will assist up to 100 short films with various grants ranging from $5,000 to $1 million. Applicants can expect a (final) decision regarding their applications within a 14-day timeframe.
Blackstone Europe LLP
Across the pond in the United Kingdom, private equity giant Blackstone unveiled its £10 billion (approximately $13.39 billion) investment in an AI data center. Following its completion, the Blyth, Northumberland-based center will become one of Europe's largest.
Moreover, the project's construction will generate 1,200 while operations will (expectedly) create 2,700 jobs.
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