Your weekly briefing on all things AI

This week, we see many longer-term strategies and pivots unfolding. As AI and its impact continue to grow, the need for regulation and pivoting around that regulation grows, too. Keep reading for some interesting moves made by major players in the space.

👀 Nvidia Creates Chips for China Within US Regulations

🏛 Amazon to Release its Own LLM Called Olympus

🦾 China Releases Statements on Ambitions for Humanoid Robots

💸 JP Morgan in Discussions with AI Regulators

📰 AI in the News

Nvidia's Strategic Move: New AI Chips for China Amidst US Export Controls

In a significant development, Nvidia has crafted three new AI chips for the Chinese market. These chips, named H20, L20, and L2, are designed to align with China's burgeoning demand for artificial intelligence while adhering to the latest U.S. export controls. This move follows Nvidia's previous adaptation of its products for Chinese customers due to U.S. regulations, including developing the A800 and H800 models as alternatives to the A100 and H100 GPUs blocked by the U.S. government in 2022.

The new chips represent a delicate balance between performance and compliance with U.S. sanctions. While their performance is slightly reduced compared to previous models sold in China, they are expected to remain competitive in the Chinese market. Analysts from SemiAnalysis commend Nvidia's ability to navigate the fine line between peak performance and power density to meet U.S. regulatory requirements.

This development is crucial for Nvidia, as large orders from China significantly drive the company's sales. Despite political challenges, Nvidia's position as a leading supplier for AI model training and execution computer clusters remains unchallenged globally. The company's unique blend of development tools, software innovation, and hardware extends its role beyond a mere chip supplier. (Full Story)

Amazon's 'Olympus' AI Model: A Potential Rival to OpenAI and Alphabet

Amazon is making a significant move in the AI landscape with its ambitious large language model (LLM) project, codenamed 'Olympus'. Spearheaded by Rohit Prasad, the former head of Alexa and now the head scientist of artificial general intelligence (AGI) at Amazon, the project aims to develop a model with 2 trillion parameters. This scale could potentially rival top models from OpenAI and Alphabet, including OpenAI's GPT-4, which has one trillion parameters.

The 'Olympus' project is a strategic effort by Amazon to unite AI initiatives across the company, leveraging the expertise of researchers from Alexa AI and the Amazon science team. This initiative reflects Amazon's belief that homegrown models could enhance the appeal of its offerings on Amazon Web Services (AWS), especially for enterprise clients seeking access to top-performing models. However, there is no specific timeline for the new model’s release.

Training such a large model is costly, requiring significant computing power. As indicated in a recent earnings call, Amazon's commitment to investing in LLMs and generative AI shows a shift in focus from its traditional retail operations, emphasizing fulfillment and transportation, towards more advanced technological ventures. (Full Story)

More Stories

• Ambitious Goals: China Aiming to Mass- Deploy Humanoid Robots by 2025. (link)

• Inside Look: Humane’s AI Pin Revolutionizes Tech Interaction. (link)

• The Dawn of a New Era: AI Robotics on the Brink of a 'GPT Moment'. (link)

• From Productivity to Pioneering: Superpowered’s Leap to Voice API for Bots. (link)

• OpenAI's New Frontier: Collaborative Data Partnerships for Enhanced AI Training. (link)

• Stability AI: Rising from Chaos to a Future Powered by Intel and Surging Revenue. (link)

• Job Hunt Revolution: How AI Landed One Man 20 Interviews from 5,000 Applications. (link)

• Figma's Game-Changer: Introducing FigJam AI to Transform Design Workflows. (link)

• AI Breakthrough in Medicine: Reading Brain Scans to Unlock Alzheimer’s Genetic Secrets. (link)

• Longest Strike in Hollywood’s History: Sticking Points Around Generative AI Finally Came To Resolution. (link)

💡 Industry Insights

💰 Finance

AI in Executive Analysis: Investors are increasingly using AI to analyze audio recordings of executives' earnings calls, going beyond traditional Natural Language Processing. This approach, which detects subtle changes in speech patterns, pitch, and filler words, offers deeper insights into executives' emotions and intentions, influencing investment decisions. (link)

Generative AI in Banking: Corporate and investment banks are leveraging generative AI for significant productivity gains and potential profit increases. Challenges include computing costs and IP constraints, with strategic implementation being key for success. (link)

JPMorgan's Future Focus: JPMorgan Chase is actively collaborating with American regulators to launch its AI projects, aiming to stay ahead in the banking sector. The bank is developing AI applications to generate earnings summaries and provide precise customer support solutions. (link)

🏥 Healthcare

AI Predicting Risks & Outcomes: NYU Langone Health's new AI tool, NYUTron, can read physicians' notes to estimate patients' risks and outcomes, such as death risk and hospital stay length. NYUTron's large language model (LLM) outperforms traditional models by predicting 80% of patient readmissions and identifying 85% of in-hospital deaths. (link)

🏠 Real Estate

AI & VR Reshaping Real Estate: AI and VR are employed for tasks like data analysis, virtual tours, and even drafting legal documents. However, this shift raises concerns about the role of Realtors, as AI's ability to decentralize operations challenges their traditional value. The industry is urged to adapt, improving skills in areas AI can't handle, like local knowledge and human interaction. (link)

🔐 Cyber Security

AI Platform Vulnerabilities: OpenAI's recent DDoS attack underscores the escalating cybersecurity threats in the AI industry. The attack, coinciding with new feature announcements, was claimed by Anonymous Sudan and highlights the need for enhanced security measures in AI technologies. (link)

⚖️ Legal

AI Demands New Legal Standards: President Biden's Executive Order on AI introduces new standards for AI in the legal sector, focusing on safe and ethical development, privacy protection, and cybersecurity. This pivotal move requires legal professionals to adapt to evolving AI guidelines and practices​​. (link)

📈 Venture Deals

• Aleph Alpha, an emerging OpenAI rival, secures a colossal $500 million, backed by industry giants Bosch, SAP, and Hewlett Packard. (link)

• Enable clinches $120 million to revolutionize rebate software for trading partners, catapulting its valuation to a stellar $1 billion. (link)

• Advanced Navigation navigates to success with a $68 million raise, steering the future of robotics and navigation. (link)

• Elucid scores $80 million to enhance imaging analysis for cardiovascular disease. (link)

• Black Ore Technologies bags $60 million to forge innovative AI tools for the bustling financial services sector. (link)

• MangoBoost, a semiconductor startup, raises $55 million to empower cloud companies amidst the AI surge. (link)

• Behavioral Health leader Eleos raises $40 million series B. (link)

• CAST AI secures $35 million for its groundbreaking Kubernetes operations and cost management solutions. (link)

• Ritual raises $25 million to fill gaps in crypt use cases. (link)

• BioPhy raises $4.5 million, pioneering AI to predict clinical trial success stories. (link)

• Luna AI, with a €2.3 million raise, aims to develop the world's premier AI-powered sales assistant. (link)

• Captur secures £2.2 million to expand its enterprise AI image verification capabilities. (link)

• Monuv, with a $1.7 million investment, sets out to revolutionize surveillance cameras with AI integration. (link)

🛠️ Latest AI Tools

• SlaySchool.com turns lectures into study cards instantly

• Propheticai.co is developing a wearable tech to induce lucid dreaming

• Workhack.ai is an additional layer of AI you can add to your landing page testing

• CompanyCraft.ai offers customized business guidance and planning

• Piscart.com is a full suite of AI art tools for businesses

• Dodon.ai helps you search and summarize legal documents

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