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US Senate met with Elon, Zuck, Gates, Altman + more
📰 Top Stories: What Musk, Altman, Gates, and Zuckerberg discussed at the Private Congressional Meeting on AI
👀 Content: A fireside chat w/ Mustefa Suleyman and Yuval Noah Hariri
💰 Funding: Databricks raises $500M Series I at $43Bn valuation as they prepare for eventual IPO
⚡️ Quick News Hits
Stability AI, known for its text-to-image generative AI tool Stable Diffusion, releases its first text-to-audio generation model, Stable Audio.
Chip designer, Arm, has the most successful IPO in two years thanks to AI excitement.
Apple announces their new iPhone, with subtle AI features that are under-the-hood
Department of Homeland Security unveils new guidelines for it will use AI
California introduces bill to regulate AI at state level
The EU will grant AI startups access to its high-performance supercomputers for training AI models, provided they adhere to the EU's AI governance standards.
📰 Top Stories
(15 min read) (Source: WIRED)
TLDR: Over 60 U.S. senators attended a closed-door briefing led by Silicon Valley CEOs, academics, and other experts to discuss the regulatory landscape of generative AI. High-profile figures such as Elon Musk and Sam Altman stressed the "civilizational risks" and the need for government leadership in AI regulation.
Although attendees had varied views, there was a unanimous agreement on the necessity of government involvement in AI regulation. Senate Majority Leader Chuck Schumer highlighted this as a call to action for the government.
Bill Gates talked about using AI for global food security, and some speakers warned against creating a Section 230-like protection for AI technologies. Janet Murguía, president of the Hispanic civil rights organization UnidosUS, emphasized the need to close the existing infrastructure gaps.
There were debates over whether to create new agencies for AI regulation or to adapt existing ones like NIST. While there was a general sense that bipartisan legislation is possible, political resistance still exists.
Despite the sense of urgency, lawmakers acknowledged their collective understanding of AI is still insufficient for drafting effective legislation. Future bipartisan forums focusing on AI innovation are planned.
The Big Picture: This briefing marks a watershed moment for the U.S. government's approach to AI regulation, emphasizing the gravity of the technology's impact on society and the economy. As Silicon Valley pushes the boundaries of AI, the race is on for the government to catch up and implement comprehensive and effective regulation.
(16 min read) (Source: Salesforce)
TLDR: Salesforce's Dreamforce conference, the world's largest AI event, focused on the convergence of AI and Data Cloud. The event's highlights included the introduction of Einstein 1, an AI platform with a conversational AI assistant called Copilot, which empowered users with natural language interactions and action plans.
Copilot Studio, consisting of Prompt Builder, Skills Builder, and Model Builder, provided administrators control over implementing generative AI to enhance user productivity. It enabled customized AI skills, incorporating Salesforce's proprietary models or preferred partners.
Salesforce offered free Data Cloud and Tableau licenses, introduced AI capabilities to Marketing Cloud and Commerce Cloud, empowered automation with Data Cloud, presented Slack AI innovations, introduced Data Graphs for visualizing data relationships, and forecasted AI-powered job creation and revenue impact.
(4 min read) (Source: The Wall Street Journal)
TLDR: EY has invested $1.4 billion in AI and introduced its large language model, EY.ai EYQ, to its portfolio. The firm will train its 400,000 employees in AI and provide guidance on AI adoption, aiming to assist companies in deploying AI effectively.
EY's initiative addresses the challenge many companies face in starting their AI journey, with CEO and board pressure to implement AI technologies. EY's AI platform offers guidelines, best practices for risk and governance, and data management, streamlining AI strategy development.
This move reflects the growing importance of AI in business strategies and the role of consulting firms in helping companies navigate AI adoption, emphasizing the need for clarity in AI implementation.
(4 min read) (Source: The Verge)
TLDR: Adobe has commercially launched its Firefly generative AI model, offering AI-powered workflows across Adobe Creative Cloud and Experience Cloud with digital "nutrition labels" for AI-generated content.
To address copyright concerns, Adobe introduced a bonus scheme for Adobe Stock contributors who allow their submissions to train AI models, promoting responsible AI use and creator compensation.
(11 min read) (Source: TechCrunch)
TLDR: The European Union (EU) plans to grant AI startups access to its high-performance computing (HPC) supercomputers for training AI models, provided these startups adhere to the EU's AI governance standards.
👀 Interesting Reads and Content
The AI Detection Arms Race Is On (WIRED)
AI just beat a human test for creativity. What does that even mean? (MIT Technology Review)
Ranked: Artificial Intelligence Startups, by Country (Visual Capitalist)
The global race to set the rules for AI (Financial Times)
How scientists are using artificial intelligence (The Economist)
Machine Learning Aids Classical Modeling of Quantum Systems (Quanta Magazine)
Analysis and Critiques
AI Adoption in U.S. Health Care Won’t Be Easy (Harvard Business Review)
Bizarre AI-generated products are in stores. Here’s how to avoid them. (The Washington Post)
💰 Funding News
Notable investors include new strategic investor Nvidia, w/ Capital One, Andreessen Horowitz, Tiger Global, and existing backers
Funding is for further expanding their partnership with NVIDIA and enhancing its generative AI capabilities.
Databricks still plans to go public amid a resurgent IPO market, keeping an eye on market dynamics but not rushing to be among the first movers. Databricks is now the eighth-most valuable private company globally.
They’ve gained rapid market adoption across Europe, leading to significant government contracts.
4. Enfabrica is a startup specializing in converged networking and memory fabric silicon + software designed for AI and accelerated computing workloads. They raised a $125M Series B, led by Atreides Management w/ support from Sutter Hill Ventures and NVIDIA, Liberty Global Ventures, Valor Equity Partners, and others.