Business
In 2023, businesses are increasingly focusing on transforming their IT processes to harness the power of AI and other emerging technologies. According to a survey, 81% of executives believe that well-performing IT processes are crucial in implementing successful AI initiatives, while 68% express concerns about suboptimal processes hindering AI implementation and other emerging technologies. Key […]
French startup Mistral AI has successfully closed its Series A funding round, raising €385 million. This values the company at approximately $2 billion. Mistral AI, which aims to become a European champion in generative artificial intelligence, has attracted investments from prominent firms such as Andreessen Horowitz and Lightspeed Venture Partners. The company has released […]
Wendy’s has partnered with Google Cloud to develop Wendy’s FreshAI, an industry-leading generative AI platform designed to enhance the drive-thru experience by understanding casual conversation with customers and handling Wendy’s menu full of customizations and configurations. The AI platform aims to improve speed, accuracy, and consistency in sales transactions while empowering crew members. Wendy’s FreshAI […]
OctoML has ended its business relationship with Civitai following an investigation by 404 Media, which revealed that Civitai’s text-to-image platform was being used to generate images that potentially constitute child pornography. The investigation showed that Civitai users were creating sexually explicit and nonconsensual images of real people, including pornographic depictions of children. Civitai and […]
McDonald’s is teaming up with Google to roll out generative AI in thousands of its stores beginning in 2024. This partnership involves hardware and software upgrades to optimize operations, including the promise of delivering hotter and fresher food to customers. The AI-driven system, which will run on-location and through Google Cloud services, aims to streamline […]
OpenAI’s ChatGPT has experienced unprecedented growth, reaching 100 million weekly active users and propelling the company’s valuation to around $86 billion. Despite the hype, the company’s leadership acknowledges certain aspects of AI are overhyped, emphasizing that AI systems are still evolving and facing limitations. OpenAI COO Brad Lightcap, while surprised by the success of ChatGPT, […]
The AI drive-thru system used at Checkers and Carl’s Jr relies heavily on outsourced laborers to intervene in over 70% of customer interactions, despite being marketed as an autonomous technology by Presto Automation, the company behind the system. The SEC is currently investigating claims regarding aspects of Presto’s AI technology. The reveal of the extensive […]
The article discusses the status of Ilya Sutskever, the chief scientist and co-founder of OpenAI, following the ousting of CEO Sam Altman. There are indications that Sutskever’s role within the company is uncertain, and there are discussions about finding a new position for him. However, his influence and importance at the company are significant, especially […]
OpenAI is strategically engaging with former Twitter India head Rishi Jaitly to navigate Indian policy and regulatory landscapes as the company looks to set up a local team in India. The move comes amidst OpenAI’s effort to expand its presence in India, one of the world’s biggest internet markets. This aligns with the company’s interest […]
Runway, in collaboration with Getty Images, is introducing a new model that allows companies to create custom video content using AI. This Runway Getty Images Model (RGM) is designed to enable fine-tuning using proprietary datasets, catering to various industries such as Hollywood studios, advertising, media, broadcasting, and more. It aims to revolutionize content creation by […]
MaintainX, a San Francisco-based startup specializing in industrial maintenance software, recently secured $50 million in a Series C funding round led by Bain Capital Ventures, propelling the company’s valuation to $1 billion and granting it unicorn status. The investment will be used to bolster their research and development, enhance artificial intelligence capabilities, and expand their […]
Jiquan Ngiam, a former employee of Coursera and Google, identified the potential for AI to automate tasks traditionally performed by engineers. Along with a team of five, he founded Lutra AI, a startup that creates AI workflows from natural language, allowing non-technical users to automate tasks without needing technical expertise. Lutra takes a code-first approach, […]
Sarvam AI, a five-month-old Indian startup based in Bengaluru, has raised $41 million in seed and Series A financing rounds. The company is focused on developing full-stack generative AI offerings, particularly large language models (LLMs) with support for Indian languages. Sarvam AI is building a platform that allows businesses to leverage LLMs, emphasizing voice as […]
The UK-based startup AutogenAI has raised $39.5 million in a Series B funding round, co-led by Salesforce Ventures and Spark Capital, for its generative AI software that automates the tedious and time-consuming process of proposal writing. The company’s bid-writing product suite has led to a 30% increase in win rates and significant cost savings for […]
The recent firing of two senior executives, COO Andrew Kraft and President Rob Barrett, at The Arena Group, the owner of _Sports Illustrated_, has sparked attention to the company’s recent AI controversy. The dismissal is part of a broader restructuring effort by the majority owner, billionaire Manoj Bhargava, following the revelation that _Sports Illustrated_ and […]
States such as Colorado, New York, California, and others are stepping up to regulate insurance algorithms amid concerns about discriminatory practices. Insurers like State Farm, Cigna, and UnitedHealth have faced legal actions alleging unfair treatment of minorities and older customers due to their use of automated processes to deny coverage. The advance of AI in […]
Bing, Microsoft’s search engine, is introducing a new feature called ‘Deep Search’ powered by OpenAI’s GPT-4. Deep Search aims to provide more comprehensive answers to complex search queries by expanding the query and offering a detailed description of the desired results. It also finds relevant web pages that may not show up in typical search […]
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