CEOs Woo, AI Safety Board
29 April 2024: AI Talent Wars, AI Safety Board, Google Speaking Practice, $75M AI Education Grants Fund, Online AI Course, €112M EU Investment, CIOs Unprepared
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Latest in
1. 1-Minute Roundup
2. Headlines
3. AI Investment Deals
4. Other AI News
1-Minute Roundup
Headlines:
Tech giants lure top AI talent with CEO outreach and hefty pay packages
Federal AI Safety and Security Board forms to protect critical infrastructure
AI Investment Deals:
NATIX Network secures $9.6M for AI-based geospatial data platform
Edia Learning raises $9.4M for AI-enhanced math education platform
CV Wallet secures $500K for AI-driven verification platform for hiring
Chemix completes $20M Series A for AI-driven next-gen EV batteries
Exowatt raises $20M seed funding for AI-powered renewable energy solutions
Infinite Reality to acquire Drone Racing League for $250M, leveraging AI
FlexAI launches with $30M seed funding for AI compute infrastructure
Others:
Google tests AI-powered "Speaking Practice" feature for English conversation.
Estée Lauder and Microsoft Launch AI Innovation Lab to Boost the Beauty Industry
Google launches $75M fund and $49 online course to teach AI skills
EU invests €112M in AI and quantum technologies research and innovation
Lenovo survey reveals global tech leaders unprepared for AI adoption
Apple in talks with OpenAI and Google for iPhone AI chatbot integration
Headlines
Tech Giants Woo Top AI Talent with CEO Calls and Hefty Compensation
As the AI race intensifies, tech companies are going to great lengths to recruit top AI talent, with CEOs like OpenAI's Sam Altman and Meta's Mark Zuckerberg personally reaching out to potential hires. Generous compensation packages and the promise of creative freedom are being used to lure AI specialists, while some opt to start their ventures.
Why it Matters: The fierce competition for AI talent underscores the technology's potential and the high stakes for companies looking to gain an edge in the rapidly evolving AI landscape.
Zoom In:
CEOs are personally recruiting AI specialists to increase their desire to join
Pay packages north of $1 million are standard for AI-related roles
Startups offer creative control and potentially big payouts to lure talent from Big Tech
Numbers:
Global private investments in AI could reach $200 billion by 2025 (Goldman Sachs)
AI-related roles can command salary increases of $100,000 and equity worth millions
Anthropic's prompt engineer and librarian role offers $250,000 to $375,000 salaries
Between the Lines: Some AI talent opt to start their own companies, seeing greater entrepreneurship potential than full-time roles at established firms.
Reality Check: Companies hesitant to invest in high-level AI talent may need to catch up, with experts warning that delays in hiring key AI executives could lead to marketplace disasters.
What's Next: As the AI race continues to heat up, companies must find innovative ways to attract and retain top talent, balancing financial incentives with creative freedom and entrepreneurial opportunities.
Tech Leaders Join Federal AI Safety Board to Protect Critical Infrastructure
OpenAI's Sam Altman and Nvidia, Microsoft, and Alphabet CEOs will serve on a new federal advisory board to secure AI within U.S. critical infrastructure. The Artificial Intelligence Safety and Security Board, working with the Department of Homeland Security, aims to develop recommendations for safely deploying AI while protecting against potential disruptions.
Why it Matters: While AI can improve efficiency and safety in critical industries, it poses significant risks if not deployed responsibly. The board's recommendations will be crucial in guiding the safe implementation of AI in sectors such as power grids, transportation, and manufacturing.
Big Picture: The formation of the AI Safety and Security Board is part of a broader push by the U.S. government to regulate AI technology, which has primarily evaded oversight in the past due to concerns about stifling innovation.
Reality Check: While the general agreement is that Washington needs to act quickly to manage AI, lawmakers appear unlikely to pass substantive legislation before the November elections.
AI Investment Deals
NATIX Network, an AI-based geospatial data platform, secured $9.6M in total funding, led by Borderless Capital, to expand real-time data collection using decentralised networks.
Edia Learning, a US-based AI platform designed to enhance math education, has secured $9.4M in funding led by Felicis. The platform allows students to input math via typing, supports personalised feedback, and provides real-time proficiency data to teachers.
CV Wallet, a London-based verification platform for hiring, secures $500K in Angel funding to expand operations and enhance its SaaS platform using Web3 and AI technologies. This round values the company at over $13M.
Chemix, an AI-driven company developing next-generation EV batteries, has completed a $20M Series A funding round led by Ibex Investors. The funding will support scaling operations and expanding market penetration.
Exowatt, a renewable energy startup, has raised $20M in seed funding to provide scalable and cost-effective energy solutions for AI-driven data centres.
Infinite Reality is set to acquire the Drone Racing League (DRL) for $250M, enhancing its portfolio and valuation to $3.5 billion. The acquisition leverages AI-powered sports and entertainment experiences, strengthening the interaction with digital content.
FlexAI, a startup aiming to revolutionise AI compute infrastructure, has launched with $30M in seed funding. The Paris-based company is designing computing infrastructure to enhance the efficiency and accessibility of AI development.
Others
Google Tests AI-Powered "Speaking Practice" Feature to Enhance English Conversation Skills
Google's experimental "Speaking Practice" feature, part of Search Labs, uses AI to help users practice conversational English.
The feature in six countries prompts users to respond to questions using specific words.
Estée Lauder and Microsoft Launch AI Innovation Lab to Boost the Beauty Industry
The AI Innovation Lab will leverage Microsoft's Azure OpenAI service to help ELC's 20+ brands use generative AI.
ELC aims to accelerate product innovation and respond faster to consumer trends using AI-powered tools.
Google Launches $75M Fund and $49 Online Course to Teach AI Skills
Google's "AI Opportunity Fund" will provide grants to organisations like Goodwill and Miami Dade College.
The company aims to train 1 million Americans in AI skills through a 10-hour online course.
EU Invests €112M in AI and Quantum Technologies Research and Innovation
The European Commission will invest €65 million in AI, with €50 million for data combination and large AI model capabilities.
€40 million will be invested in cutting-edge quantum technologies, including €25 million for a pan-European quantum gravimeter network.
Lenovo Survey Reveals Global Tech Leaders Unprepared for AI Adoption
Most CIOs surveyed by Lenovo see their companies as not yet "AI-ready" in critical areas.
42% of CIOs don't expect a return on their AI investments for at least the next two years.
Apple in Talks with OpenAI and Google for iPhone AI Chatbot Integration
Apple is discussing terms with OpenAI to power new AI features in the upcoming iOS 18.
The company is also in talks with Google about potentially licensing its Gemini chatbot for iPhones.
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