AI Arms Race: Gadgets, Investments, Politics, Scandals
26 April 2024: Forced AI integrations, tech giants clash, facial politics, CT regulations, UN AI resolution, principal framed, personalised cancer treatment
Good Morning & Happy Friday,
Latest in AI,
1. 1-Minute Roundup
2. Headlines
3. AI Investment Deals
4. Other AI News
1-Minute Roundup
Headlines:
Tech brands force AI into gadgets, raising questions about necessity and usefulness
Meta's aggressive AI spending spooks investors, while Microsoft and Google see AI-driven gains
AI Investment Deals:
Qohash secures $17.4M for AI-driven data security platform
CARV raises $10M to expand modular data layer for gaming and AI
Dropzone AI secures $16.85M for autonomous AI-driven cybersecurity investigations
Treefera raises $12M for AI-driven environmental compliance platform
Endimension Technology raises INR 6 Crore for healthtech AI research and development
Control One AI raises $350K to enhance AI-powered robotics for supply chain
Anon secures $6.5M for AI-powered online account management platform
Data4Sales raises $2.3M for AI-powered predictive marketing in Latin America
Handl Health secures $2.5M for AI-driven health benefits optimisation
Sublime Security raises $20M for AI-powered email security platform
Nooks secures $22M for AI dialling and prospecting platform
FinQuery receives $25M investment for AI-driven SaaS platform
Alaffia Health raises $10M for generative AI in health plan operations
Nvidia to acquire Israeli AI startup Deci
Elon Musk's X.AI Corp. is close to securing $6B, valuing the company at $18B
Others:
The study suggests AI can predict political orientation from facial features, sparking concerns.
Connecticut Senate passes comprehensive AI regulation bill; fate remains uncertain.
Cleanlab unveils Trustworthy Language Model to address AI hallucinations
China proposes UN resolution to promote AI access for developing countries
Ex-Athletic Director arrested for allegedly framing principal with AI-generated audio
NIH develops AI tool for personalised cancer treatment based on single-cell RNA sequencing
Headlines
Tech Brands Forcing AI into Gadgets, Regardless of Necessity
As AI hype surges, tech companies like Logitech, Nothing, and Microsoft integrate AI-related features into their products, often without clear user benefits. These additions, from AI-powered mice to earbuds with ChatGPT access, raise questions about their necessity and usefulness.
Why it Matters: The rush to integrate AI into consumer tech products may lead to gimmicky features that don't significantly improve user experience, potentially misleading consumers about the actual benefits of AI in their devices.
Zoom In:
Despite minimal differences from an existing model, Logitech released a new mouse with a button to launch ChatGPT.
Nothing earbuds now offer ChatGPT access via pinch gestures, but the feature's usefulness is debatable.
Microsoft added a Copilot button to Windows keyboards, though its necessity and functionality are unclear.
Between the Lines: While AI can genuinely enhance certain products, like noise-cancelling audio peripherals, many new AI-related features seem more like marketing tactics than meaningful improvements.
Reality Check: Some AI integrations, such as MSI's monitor with built-in NPU for gaming assistance, may raise concerns about fairness and cheating in competitive environments.
Tech Giants Diverge on AI Investment: Meta's Market Scare, Microsoft and Google's Gains
As Meta reveals plans for aggressive AI spending, spooking investors and sending shares tumbling, Microsoft and Google report strong earnings driven by AI-fueled cloud computing demand. The contrasting market reactions highlight the challenges and opportunities of the AI arms race.
Why it Matters: The mixed market reactions to Meta, Microsoft, and Google's AI strategies demonstrate the high stakes and uncertainties surrounding the technology's development and monetisation.
Numbers:
Meta's shares plunged to 16% after announcing billions in additional AI spending.
Microsoft and Google beat Wall Street estimates, with AI driving cloud revenue growth.
Google Cloud posted a $900 million profit, while Microsoft's Azure sales climbed 31%
Meta's capital expenditures to reach $35-40 billion, up from the $30-37 billion estimate.
Alphabet shares soared to 17%, and Microsoft gained 6.3% in late trading.
Nearly 60% of Fortune 500 customers use Microsoft's Copilot AI assistant.
Backstory: Meta's AI pivot comes after heavy investments in the metaverse and a period of cost-cutting, while Microsoft and Google have been steadily incorporating AI into their products and services.
Big Picture: Not all tech companies benefit equally from the AI boom. Meta, Microsoft, and Google's diverging paths in the AI race highlight the challenges of balancing innovation, profitability, and investor expectations.
AI Investment Deals
Qohash, a Canadian FinTech firm, secures $17.4M in Series B funding to enhance its AI-driven data security platform, Qostodian. The round was led by Fonds de solidarité FTQ, with contributions from EDC and Desjardins Capital.
CARV raises $10M in Series A funding to expand its modular data layer used in over 700 games and integrated with 40 chain ecosystems, enhancing gaming and AI capabilities.
Dropzone AI raised $16.85M in Series A funding, led by Theory Ventures, to enhance its autonomous AI-driven cybersecurity investigations and address the global shortage of cybersecurity workers.
Treefera secures $12M in Series A funding led by AlbionVC to expand its AI-driven environmental compliance platform, enhancing real-time monitoring and risk evaluation for complex regulatory challenges.
Endimension Technology, a healthtech AI startup, raises INR 6 Crore in a Pre-Series A round led by Inflection Point Ventures, focusing on expanding AI research, team growth, and software development.
Control One AI, an AI-first robotics startup, raises $350K in a pre-seed round to develop a prototype for enhancing slow-moving supply chain equipment to boost global blue-collar productivity and safety.
Anon, a San Francisco-based developer platform for secure AI-powered online account management, has raised $6.5M in funding led by Union Square Ventures and Abstract Ventures. The funds will enhance operations and expand developer access to services without APIs.
Data4Sales, an AI-powered predictive marketing platform from Uruguay, secures a $2.3M seed round led by DGF Investimentos to expand in Brazil and enhance its presence in Latin America. The platform analyses e-commerce data to improve retail customer insights and boost sales.
Handl Health, an AI platform from Los Angeles, raises $2.5M in seed funding led by Mucker Capital and Everywhere VC. The funding will enhance analytics and workflow automation to optimise health benefits design.
Sublime Security raises $20M in Series A funding led by Index Ventures to enhance its AI-powered email security platform, focusing on transparency and customisable controls to combat sophisticated email threats.
Nooks, a San Francisco-based AI dialling and prospecting platform, secures $22M in Series A funding led by Lachy Groom, bringing total funding to $27M. The platform enhances sales team productivity with features like AI Dialer, AI Research, and virtual salesfloor tools.
FinQuery, an AI-driven SaaS platform based in Atlanta, receives a $25M minority investment led by Periphas Capital, with Lavelle Capital participating. The platform helps manage significant contracted expenses and serves over 8,000 clients.
Alaffia Health, which specialises in generative AI for health plan operations, raised $10M in Series A funding led by FirstMark Capital. This funding brings its total capital to $17.6M and follows a fourfold increase in revenue over the past year.
Nvidia is set to expand its presence in Israel by acquiring the AI startup Deci. Deci, known for its deep learning development platform, was founded in 2019 and has raised $55.1M in funding.
Elon Musk's AI startup, X.AI Corp., is close to securing $6 billion in funding, which would value the company at $18 billion. Sequoia Capital, among other investors, is set to participate in this round as X.AI aims to compete with leading AI firms like OpenAI.
Others
Study Suggests AI Can Predict Political Orientation from Facial Features
Researchers at Stanford University found that AI algorithms could accurately assess a person's political leanings based on facial morphology.
The study claims that liberals tend to have smaller faces, while conservatives have more prominent facial features, raising concerns about the implications of biometric surveillance.
Connecticut Senate Passes Comprehensive Bill to Regulate AI, Fate Uncertain
The bill aims to address AI bias, protect consumers from deepfakes, and require transparency in AI-generated media.
Concerns remain about the bill's potential impact on innovation and small businesses, with some key Democrats expressing reservations.
Cleanlab Unveils Trustworthy Language Model to Address AI Hallucinations
The Trustworthy Language Model (TLM) detects when large language models (LLMs) generate incorrect or misleading results.
The TLM provides a trustworthiness score for LLM responses, enabling businesses to confidently automate tasks using generative AI.
China Proposes UN Resolution to Promote AI Access for Developing Countries
The resolution aims to bridge the digital divide and ensure developing nations benefit from AI advancements.
This follows a US-led resolution encouraging responsible AI development, which China co-sponsored.
Ex-Athletic Director Arrested for Allegedly Framing Principal with AI-Generated Audio
Dazhon Darien, former athletic director at Pikesville High School, was arrested for using AI to impersonate the principal.
Darien allegedly created fake audio of the principal making racist and antisemitic remarks, causing significant disruption.
NIH Develops AI Tool for Personalised Cancer Treatment Based on Single-Cell RNA Sequencing
The Personalised Single-Cell Expression-Based for Treatments in Oncology (PERCEPTION) tool analyses single-cell RNA sequencing data to match patients with appropriate cancer drugs.
The proof-of-concept study suggests that single-cell RNA sequencing may provide more accurate insights for personalised oncology than current bulk sequencing approaches.
Like TheAIML?
Please don’t keep it to yourself. Colleagues and friends can sign up here.
For even more,
Our newsletter archive: Click here
Follow us on Linkedin,
Follow us on 𝕏/Twitter
How are we doing? We would like to hear what you think about this newsletter. Let us know.