FTC Eyes Reddit, AI Recipes Flop, Tech Giants Clash
18 March 2024: FTC questions Reddit's AI, Ad agencies pricing pivot, Microsoft-Google rivalry, AI's culinary experiments, AI startup funding, SpaceX's secret
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1-Minute Roundup
FTC investigates Reddit's AI data handling amid IPO plans.
Generative AI prompts advertising agencies to adopt value-based pricing.
Microsoft advocates for AI partnerships to counter Google's dominance.
AI's kitchen experiments: More quirky than quality.
RedcoatAI launches with $4.24M for AI-driven cybersecurity solutions.
RelationTherapeutics secures $35M for AI-enhanced drug discovery.
GobbleCube raises $1.9M for AI-powered brand analytics.
HiLabs secures $39M in Series B for healthcare data management.
Quintessent raises $11.5M for silicon photonics in computing.
Nvidia is in talks to acquire Run.ai, and the deal may reach $1B.
Unstructured lands $40M Series B for AI data preprocessing.
AssortHealth raises $3.5M seed for AI in call centres.
Beckman Institute's AI model offers breakthroughs in medical imaging diagnostics.
SpaceX secures a confidential $ 1.8 billion contract for spy satellites.
Mercedes-Benz integrates humanoid robots into its manufacturing process with Apptronik.
AI Waifu aims to combat loneliness in Asia's consumer market.
The UK's Aria launches a £42M initiative for sustainable AI computing.
Aescape introduces an AI-powered robotic masseuse for touchless relaxation.
RecruitHoldings leverages AI to address Japan's labour shortage, improving job application rates.
Headlines
Reddit Under FTC's Microscope: AI Data Dealings in the Spotlight
The Federal Trade Commission (FTC) is investigating Reddit's use of user-generated content for AI model training. The inquiry aims to understand Reddit's data licensing and alignment with user rights and corporate values.
FTC's AI Vigilance: This inquiry into Reddit is part of the FTC's broader efforts to oversee the competitive landscape in the AI sector, ensure fair play among tech giants & curb AI's potential for impersonation.
Data Licensing Dynamics: Reddit is in the preliminary phase of exploring data licensing, focusing on opportunities that resonate with its core values and respect user rights.
Reddit's IPO Aspirations: Amidst this regulatory scrutiny, Reddit gears up for a $6.5 billion IPO debut with shares priced between $31 and $34, underscoring its ambitious growth plans in the tech landscape.
How do you think the FTC's inquiry into Reddit's AI data practices will impact the future of user-generated content online?
Generative AI Spurs Shift to Value-Based Pricing
The rise of generative AI in advertising is prompting a rethink of agency business models, with a push towards value-based pricing to stay ahead. As AI's influence on marketing grows, agencies are challenged to adapt, underlining human creativity and strategic skills that AI can't replicate. AI-enabled marketing currently represents 45% of all advertising globally.
AI's Expanding Role: By 2032, AI will influence 90% of the $1.3 trillion ad revenue, urging agencies to integrate AI while preserving its relevance.
Value-Based Pricing: This model bases fees on the service value provided, pushing agencies to refine their creativity and strategic skills, areas where AI falls short.
Practical Steps Forward: Agencies are encouraged to experiment and identify valuable AI use cases, ensuring pricing models are aligned with realistic outcomes and client needs.
How do you see generative AI transforming your industry?
AI's Culinary Concoctions: More Novelty Than Gourmet
AI enters the recipe world by stirring the pot with unusual and sometimes risky dishes. While these AI-generated recipes add a dash of novelty, they often lack culinary finesse and safety.
AI's Missteps: From bizarre ingredients like "monito sauce" to dangerous advice, AI recipes can lead to confusion and caution.
Recipe Reliability: The gap between AI's creations and culinary expertise is evident, with issues like incorrect ingredient sequences and vague cooking instructions.
Trust in Taste: Human chefs' nuanced understanding and creativity remain unmatched despite AI's culinary experiments.
Have you ever encountered an AI recipe that made you do a double-take?
Competitive Strategy: Microsoft Seeks AI Alliances Against Google's Solo Strength
Microsoft tells the European Commission's competition authorities (Articles 101-106) that forming partnerships in AI is essential to compete with Google's comprehensive, self-sufficient AI ecosystem, from hardware to apps.
Strategic Partnerships: Microsoft argues its need for alliances, contrasting Google's "vertically integrated" AI capabilities.
Regulatory Spotlight: The European Commission scrutinises Microsoft's significant AI investments, including $13 Billion in OpenAI and €15 Million in Mistral AI.
Data and Hardware: Microsoft highlights Google's advantages, from vast data reserves to proprietary AI chips, underscoring the competitive landscape's intensity.
Do you think partnerships or solo ventures will drive the future of AI?
AI Deals
RedcoatAI, focused on AI-powered cybersecurity, emerges from stealth with $4.24M funding. It aims to combat sophisticated cyber threats, including AI-driven social engineering, with defences tailored for the gen AI era.
Relation Therapeutics, a UK-based biotech company focusing on drug discovery, secured $35M in Seed funding led by DCVC and NVentures.
GobbleCube, a brand analytics platform, raised $1.9M in a funding round led by Kae Capital.
HiLabs, specialising in AI-powered healthcare data management, has secured $39M in Series B funding. HiLabs serves major US health insurance companies and is expanding its capabilities to include various data types.
Quintessent, specialising in silicon photonics and laser tech, secured $11.5M in Seed funding from Osage University Partners to develop advanced optical interconnects for accelerated computing infrastructure.
Nvidia is in advanced talks to acquire AI infrastructure platform Run.ai, which specialises in orchestration and virtualisation software for AI workloads on GPUs. The deal could be valued at several hundred million dollars, potentially reaching $1 Billion.
Unstructured secured $40M in Series B funding, led by Menlo Ventures, to enhance its AI data preprocessing solutions for enterprise large language models (LLMs).
Assort Health, focused on conversational AI for call centres, secured $3.5M in seed funding.
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Others
AI's Health Treasure Maps: Decoding Disease Mysteries
Researchers at the Beckman Institute have created an AI model that accurately identifies tumours and diseases in medical images.
The model also provides a visual map to explain each diagnosis, enhancing early detection and transparency in doctor-patient communication.
SpaceX's Secret Spy Satellites: Not Your Average Star-Gazing!
SpaceX is stitching together a cloak-and-dagger quilt of spy satellites for Uncle Sam with a sneaky $1.8 billion handshake with the National Reconnaissance Office.
Mercedes-Benz Embraces Robotics with Apptronik Collaboration
Mercedes-Benz partners with Apptronik to pilot advanced humanoid robots in manufacturing.
The company aims to automate physically demanding tasks that require low skill amidst growing investor interest in humanoid robotics, highlighted by Figure's recent $675 million funding.
Loneliness to Love: AI Waifu's Web3 Wonderland
In Asia's whopping $10 trillion consumer market, AI Waifu is set to debut on March 25, bringing a $6.4M funded game to life with over 1,500 backers.
The game aims to cure loneliness with digital companions in a treasury-backed venture exceeding $18M. Swipe right into Digital Bangkok, where virtual hearts and real investments collide!
UK's Aria Aims for a Computing Revolution with £42 Million Initiative
The UK's Advanced Research and Invention Agency (Aria) launched an ambitious £42 million project. With eyes set on a future where AI is economically and environmentally sustainable.
To slash AI computing costs by 1,000x, leveraging the government's hefty £800 million investment.
Robo-Masseuse on the Rise: Why I'm Trading Flesh for Steel
For $60 a pop, Aescape's AI-powered massage robot promises a revolution in relaxation. It lets you ditch the disrobe dance for a personalised, pressurised pamper session that keeps your clothes on and your comfort dialled in.
With 1.1 million 3D data points mapping your every muscle, this isn't just a rub; it's the future of unwinding, tailor-made for the touchy about touch.
AI's Role in Tackling Japan's Labor Shortage: A Numbers Game
Recruit Holdings' CEO sees AI as a critical solution, noting a significant 16% increase in job applications and a 55% higher likelihood of job seekers applying to AI-suggested positions.
Despite AI's promise, the challenge remains in overcoming public hesitation towards AI adoption in a nation where 30% of the population is over 65.
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