Intel, Google, VCs: AI's Enterprise Dominance
10 April 2024: Gaudi 3, Axion CPUs; 40% Generative AI in ET30; OpenAI, Meta's Reasoning AI; Apple's Ferret; Turnitin Exposes AI Papers; Japan Urges Regulation
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Latest in AI,
1. 1-Minute Roundup
2. Headlines
3. AI Investment Deals
4. Other AI News
1-Minute Roundup
Intel and Google showcase enterprise-ready AI offerings at annual conferences
Venture Capital's Annual Enterprise Tech 30 for 2024 reveals AI dominance.
StrikeReady secures $12M for AI-powered cybersecurity solutions
Nymiz raises €2.8M to advance data privacy in generative AI
Torg secures €2.7M to streamline food and beverage procurement with AI
Avenir raises $530K to revolutionise wealth management with AI
Procurement Sciences AI secures $10M to promote equity in bidding processes
Reshape secures $20M to automate lab experiments with AI
GTM Buddy raises $8M for AI-powered Sales Success solutions
Spines secure $6.5M to transform publishing with AI
Symbolica raises $33M to develop AI systems with human-like reasoning
Neysa secures $20M for AI cloud and platform-as-a-service
OpenAI and Meta announce upcoming AI models with reasoning capabilities
Apple's Ferret AI model enables Siri to understand iOS app layouts
Turnitin reveals AI's influence on over 22 million student papers
Japan calls for urgent AI regulation to safeguard society
Google's Gemini 1.5 Pro can hear
Headlines
Intel & Google Showcase Enterprise-Ready AI Offerings at Annual Conferences
At recent events, Intel and Google unveiled updates to their artificial intelligence products and services.
Key Details:
Intel's new Gaudi 3 chip aims to boost AI training and inference performance, challenging Nvidia's dominance.
Google introduced Axion, a new CPU designed for AI workloads in data centres, reducing reliance on Intel and AMD.
The Big Picture: As the battle for AI superiority in the enterprise market heats up, major players like Intel and Google are racing to develop and showcase powerful, enterprise-ready AI hardware and software.
Venture Capital's Annual Enterprise Tech 30 for 2024
The Enterprise Tech 30 is an exclusive list of the most promising private companies in enterprise technology, determined by leading VCs and corporate development heads.
Key Trends:
AI models and tools dominate (30% of the list), followed by SaaS (25%) and data platforms (20%)
Generative AI and product-led growth have seen significant increases; 40% are "generative AI-native"
17 of the 30 companies are new to the list this year, highlighting rapid innovation
Airtable, Databricks, and Stripe made it to list all six years
Early-stage companies are ascending to the list faster than ever (median 1.8 yrs since founding)
People Metrics:
Only one female and one under-represented minority CEO this year
Nearly half of founders previously worked at Google, Meta, Microsoft or OpenAI
20% of executive leadership team members are female or under-represented minorities
The Big Picture: The 2024 list underscores the rapid rise of AI infrastructure companies, even as application-layer AI startups are still emerging. With both technical and non-technical product-led growth models prominent.
AI Deals
StrikeReady, a Silicon Valley startup, secured $12M from 33N Ventures, totalling $15.6M since 2021, to work on cybersecurity with AI-powered solutions.
Nymiz secured €2.8M, led by Swanlaab Venture Factory, to advance data privacy solutions for generative AI and data management standards.
Torg raised €2.7M in an oversubscribed Seed round led by Connect Ventures to enhance its AI-powered food and beverage procurement and streamline product sourcing processes.
Avenir secured $530K in pre-seed funding after the ABS AMRO + Techstars accelerator program. The company aims to shake up wealth management through personalised solutions.
Procurement Sciences AI, led by Battery Ventures, raised $10M in Series A funding. The company plans to streamline the bidding process and promote equity in procurement, particularly for small and medium-sized businesses.
Reshape secured $20M in Series A funding led by Astanor Ventures to automate lab experiments with its robotic imaging system and AI models.
GTM Buddy secured $8M in Series A funding, led by Archerman Capital and Leo Capital. It unveils AI-powered Sales Success solutions featuring dynamic sales plays and generative AI features to address leaky B2B sales funnels.
Spines secured $6.5M to shake up publishing, reducing publishing time from six months to two weeks and cutting costs by 30%.
Symbolica secured $33M in funding to stir AI with a structured approach based on category theory. The company aims to imbue systems with human-like reasoning capabilities and transparency, challenging the dominance of deep learning.
Neysa, an AI cloud and platform-as-a-service startup, raised $20M in funding from Matrix Partners India, Nexus Venture Partners, and NTTVC.
Others
OpenAI & Meta Announce Upcoming AI Models with Reasoning Capabilities
OpenAI and Meta are preparing to release new AI models by mid-year, GPT-5 and Llama 3, respectively, which they claim will be capable of reasoning and planning, moving closer to human-level cognition
Apple's Ferret AI Model Could Enable Siri to Understand iOS App Layouts.
Apple has developed a new multimodal large language model (MLLM) called Ferret-UI that can understand the user interfaces of mobile displays.
Ferret-UI addresses LLMs' challenges in comprehending and interacting with user interface screens, particularly on mobile devices with compact icons and details.
Unveiling the Influence of AI on Student Papers
Turnitin reveals over 22 million papers may contain significant AI-generated content in the past year.
Challenges arise in detecting and addressing the nuances of AI integration in academic writing, prompting discussions on accountability and fairness in education.
Safeguarding Society: Japan's Urgent Call for AI Regulation
NTT and Yomiuri Shimbun issue a stark warning about the unchecked expansion of generative AI, highlighting the potential erosion of societal trust and stability, with dire implications for democracy and global peace.
Google's Gemini 1.5 Pro Unveils Enhanced Listening Capabilities
Gemini 1.5 Pro introduces auditory processing, enabling the model to analyse uploaded audio files and extract valuable insights without relying on written transcripts.
Google's update showcases advancements in AI accessibility and capabilities for enhancing image generation with Imagen 2's new features, such as inpainting and outpainting.
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