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Tesla is building AI models for autonomous robots
⚡ Today’s Highlights
📰 News: Tesla is building AI models for autonomous robots + President Biden meets tech leaders to discuss AI regulation
💰 Funding: KoBold Metals, Outbound AI, Fero Labs, and Augmenta
🦾 Tools: Simplify your job hunt and optimize your LinkedIn page using AI
📰 Today's Top Stories
TLDR: Tesla just announced that they’re developing foundational models for autonomous robots using multi-modal neural networks, enabling tasks like occupancy prediction for collision avoidance.
Their approach involves fleet-scale auto-labelling and state-of-the-art generative modeling techniques, allowing reconstruction of scenes and prediction of outcomes.
Tesla is also working on a general-purpose humanoid robot and focusing on autonomy algorithms to create high-fidelity representations of the world, plan trajectories, and evaluate algorithms at the scale of their entire fleet.
(4 min read) (Source: PBS)
TLDR: U.S. President Joe Biden expressed the need to address the risks of AI to national security and the economy, emphasizing the importance of safeguarding rights, privacy, and addressing bias and misinformation.
Biden held a meeting with civil society leaders and advocates, including Tristan Harris, Joy Buolamwini, and Rob Reich, to gather expert opinions on AI.
Meanwhile, U.S. Senate Majority Chuck Schumer called for comprehensive legislation and the convening of top minds in AI to lay down a new foundation for AI policy, emphasizing the need to address risks and set norms for AI's proper uses.
Schumer warned that without government intervention, others like the Chinese Communist Party could set the rules of the game for AI, while emphasizing the potential disruption of AI on the workforce and the importance of safeguarding rights and safety.
The Big Picture: Governments worldwide are grappling with regulating the use of generative AI, which can create text and images, and has gained significant investment and popularity.
(5 min read) (Source: DropBox)
TLDR: Dropbox has launched Dropbox Ventures, a $50 million venture fund aimed at supporting startups in the AI space. The fund will provide both financial support and mentorship to startups focused on developing AI-powered products that shape the future of work.
In addition to the launch of Dropbox Ventures, Dropbox has unveiled new AI-powered features for its flagship cloud storage product. Dropbox Dash, a universal search bar, integrates with third-party platforms such as Google Workspace, Microsoft Outlook, Salesforce, and Notion. Dash utilizes generative AI to help users find and organize various types of content, and it will continue to improve and learn as users interact with it.
Dropbox AI is another innovative feature introduced by the company. Powered by OpenAI's model, Dropbox AI can summarize and extract information from files stored in a Dropbox account. It can also answer questions by drawing insights from research papers, contracts, and meeting recordings. Currently available for file previews, Dropbox AI will soon expand to cover entire folders and accounts.
💰 Funding Alerts
1. KoBold Metals, a mining exploration company using AI+ML, raised approximately $200 million in a funding round led by Breakthrough Energy Ventures, a climate-tech venture capital firm backed by Bill Gates, as well as Andreessen Horowitz (Connie Chan, General Partner), BOND, and other investors.
KoBold Metals aims to identify deposits of metals that are key ingredients for batteries, such as copper, lithium, and cobalt.
KoBold Metals plans to use the funds to develop copper reserves in Zambia, continue exploration projects for nickel and lithium, and invest in software and hardware research and development to further advance its AI-driven mining exploration methods
2. Outbound AI, a company specializing in Conversational AI for healthcare, completed its seed financing, raising $16 million. The round was co-led by Madrona Venture Group (Tim Porter, Managing Director) and SpringRock Ventures (Kirsten Morbeck, Managing Director), with participation from Epic Ventures, Ascend, Pack Ventures, Locke Capital, Tacoma Venture Fund, and KCRise Fund.
Outbound AI uses AI to create virtual agents and software consoles that streamline administrative tasks in the revenue cycle, such as claims status, eligibility verification, and prior authorization.
With the funding, Outbound AI intends to meet the increasing demand for its virtual agents and software consoles, powered by their proprietary Conversation AI Cloud. They aim to further develop their AI technology and expand their customer base, providing healthcare organizations with enhanced productivity and improved profitability.
3. Fero Labs, a manufacturing process optimization software company, raised $15 million in funding, bringing the total to $30 million. The round was led by Climate Investment, with participation from Blackhorn Ventures, Innovation Endeavors, and DI Technology.
Fero Labs uses AI to identify ways to make industrial processes more efficient and greener, with a focus on sectors like steel, cement, and chemicals.
They plan to use the funds to support the deployment of new features that drive real-time emissions reduction in the steel, cement, and chemical sectors. They aim to continue providing plant operators with insights to improve sustainability and peak performance, ultimately increasing profitability for manufacturers.
4. Augmenta, a software company automating building design for the construction industry using AI + ML, raised $11.75 million in a seed extension round led by Eclipse (Charly Mwangi, Partner), with participation from Hazelview Ventures (Roger Poirier, Co-Founder), BDC Capital's Deep Tech Venture Fund, and Suffolk Technologies (Wan Li Zhu, Managing Director). This brings Augmenta's total funds raised to $15.85 million.
With the funding, Augmenta plans to double its team and focus on engineering, sales, and support. They will also use the investment to advance their commercial pilots with electrical engineering firms and further develop their Augmenta Construction Platform. The goal is to accelerate design processes, reduce rework, and create energy-efficient and sustainable buildings in a fraction of the time.
🦾 Trending Tools
ClickUp has a new AI-powered assistant for work productivity. With 100+ expert tools tailored for professionals, it helps you save time and get more done. From summarizing tasks to generating action items, streamlines workflows and enable smarter work management.
Luma AI helps you capture the world in lifelike 3D with just your phone. Epic 3D renders with incredible detail and unmatched photorealism. Experience the future of VFX and explore the world to create immersive 3D.
Narrative BI transforms your data into actionable insights effortlessly. Connect, automate, and collaborate effortlessly. Get personalized data narratives, anomaly detection, scheduled reports, and more. No coding needed!
Minerva AI can simplify your job hunt and optimize your LinkedIn usage. This GPT-powered Chrome extension generates personalized cover letters, referral requests, and connection messages tailored to job openings or LinkedIn profiles.
Webbotify boosts visitor engagement for websites with its AI-driven chatbot. Effortlessly set up and integrate fast. Increase interactions and create a personalized experience on your website.
👀 More Reading:
Women executives are more stressed than ever. KPMG thinks AI will fix that. (Business Insider)
The bigger-is-better approach to AI is running out of road (The Economist)
AI Is an Existential Threat to Itself (The Atlantic)
How AI Can Help Stressed-Out Managers Be Better Coaches (Harvard Business Review)
🌎 Fresh Content
1. Lex Fridman’s latest guest is Marc Andreessen, co-creator of Mosaic, Netscape, and venture capital firm Andreessen Horowitz. The two sat down to discuss the future of the Internet, technology, and AI. Andreessen recently published an article entitled “Why AI Will Save the World” that breaks down the emergence of the revolutionary tech and the risks it currently presents. (YouTube)
2. Mustafa Suleyman, cofounder of DeepMind, joins Reid Hoffman and Aria Finger to discuss AI in the context of other technological advancements throughout history and the various ways personal AI can enhance our day-to-day lives. (Spotify)
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Crafting AI-Driven Customer Support
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