The International Olympic Committee (IOC) has unveiled the Olympic AI Agenda, the third in a series of strategic documents under President Thomas Bach, focusing on the transformative impact of AI on sports. The agenda follows the Olympic Agenda 2020, launched in December 2014, and the Olympic Agenda 2020+5, introduced in March 2021, reflecting the accelerating digital revolution and the increasing potential of AI to reshape various aspects of life, including sports.
AI presents a groundbreaking opportunity to enhance global accessibility to sports, aligning with the IOC’s mission of promoting solidarity and inclusivity. The Olympic AI Agenda aims to establish a governance and oversight framework to identify and mitigate risks while leveraging insights from a diverse panel of experts, including AI pioneers, academics, athletes, and technology company representatives. This panel, convened by the IOC in 2023, has conducted a comprehensive review of AI’s applications in sports, focusing on high-impact areas where the IOC can lead and inspire AI integration.
Recognising that the future of AI in sports is a collaborative effort, the IOC invites stakeholders across the Olympic Movement, such as athletes, International Federations, National Olympic Committees, and the International Paralympic Committee, to join this transformative journey. By working together, they aim to unlock AI’s full potential to promote solidarity, enhance digitalisation, improve sustainability and resilience, and reinforce the role of sports in society, ultimately building a better world through sports.
Alphabet’s Google has revealed two innovative AI systems, AlphaProof and AlphaGeometry 2, which demonstrate significant advancements in solving complex mathematical problems. These systems tackled abstract math more effectively than previous AI models, showcasing enhanced reasoning capabilities.
DeepMind, Google’s AI unit, reported that these models managed to solve four out of six questions at the 2024 International Math Olympiad. AlphaProof, which integrates the Gemini language model with the AlphaZero system, solved three problems, including the most challenging one, while AlphaGeometry 2 solved another.
These achievements mark the best performance by an AI system in the competition to date, with some problems solved in minutes and others taking up to three days. Meanwhile, Microsoft-backed OpenAI is developing a similar project known as ‘Strawberry,’ raising concerns among its staff about its potential impact on humanity.
As per the Financial Times report, JPMorgan Chase has started deploying an in-house generative AI tool, claiming that its proprietary version of OpenAI’s ChatGPT can perform the task of a research analyst. As per an internal memo accessed by Financial Times, the company has granted its asset and wealth management employees access to the language model platform, LLM Suite. The rollout represents one of Wall Street’s major LLM applications.
The memo described the LLM suite as a ‘ChatGPT-like product’ intended for general productivity, complementing its other applications handling private financial information called Connect Coach and SpectrumGPT. Earlier this year, JPMorgan began rolling out the LLM Suite to select bank areas, and currently, approximately 15% of the workforce has access to the tool.
JPMorgan CEO Jamie Dimon told shareholders that the use of AI has the potential to augment virtually every job and impact our workforce composition. It may reduce certain job categories or roles, but it may create others as well. It is worth noting that so far, the company has not disclosed the number of research analysts it employs.
SK Hynix, the world’s second-largest memory chip maker and a key Nvidia supplier, will invest 9.4 trillion won ($6.8 billion) for its inaugural chip plant in South Korea. Kim Young-sik, the company’s head of manufacturing technology, explained that this is a strategic investment for the company in response to the surge in demand for AI semiconductors. The ambitious project will involve building four state-of-the-art semiconductor plants near Seoul. The construction is expected to start in March next year, and its completion is slated for May 2027.
The site will span 4.2 million square meters and will house four cutting-edge chip plants and over 50 local firms in the semiconductor sector. The facility will also boast a ‘mini-fab’ research centre for processing 300-mm silicon wafers, offering local chip materials and equipment manufacturers a realistic environment to test their innovations.
Why does it matter?
It is worth noting that this new fab will be set in the Yongin Semiconductor Cluster near Seoul, where the government aims to build a large-scale chip operations complex. As such, SK Hynix’s investment will help supplement the South Korean government’s efforts to sustain its leadership in-memory technology, which is crucial for AI applications.
As US Vice President Kamala Harris emerges as a leading candidate for the Democratic presidential nomination, she has garnered significant support from Silicon Valley’s tech leaders. Prominent figures like Sheryl Sandberg, Reed Hastings, and Melinda French Gates are backing Harris, reflecting a shift in the tech industry’s allegiance.
Harris, a Bay Area native with deep connections to the tech world, has built a reputation for balancing industry relationships with a commitment to tech accountability. Her tenure as California Attorney General and Senator included efforts to address online harassment and user privacy issues. As Vice President, she has focused on AI safety, engaging with top tech executives to establish robust regulations.
Tech leaders see Harris as a preferable alternative to former President Donald Trump, whose policies they view as detrimental to the industry. Trump’s anti-immigration stance and tariff plans contrast sharply with Harris’s more supportive approach to tech and progressive causes, such as climate action and reproductive rights. The alignment with tech values makes Harris a favoured choice in Silicon Valley.
The introduction of SearchGPT by OpenAI, an AI-powered search engine with real-time internet access, challenges Google’s dominance in the search market. Announced on Thursday, the launch places OpenAI in competition not only with Google but also with its major backer, Microsoft, and emerging AI search tools like Perplexity. The announcement caused Alphabet’s shares to drop by 3%.
SearchGPT is currently in its prototype stage, with a limited number of users and publishers testing it. The tool aims to provide summarised search results with source links, allowing users to ask follow-up questions for more contextual responses. OpenAI plans to integrate SearchGPT’s best features into ChatGPT in the future. Publishers will have access to tools for managing their content’s appearance in search results.
Google, which holds a 91.1% market share in search engines, may feel the pressure to innovate as competitors like OpenAI and Perplexity enter the arena. Perplexity is already facing legal challenges from publishers, highlighting the difficulties newer AI-powered search providers might encounter.
SearchGPT marks a closer collaboration between OpenAI and publishers, with News Corp and The Atlantic as initial partners. This follows OpenAI’s content licensing agreements with major media organisations. Google did not comment on the potential impact of SearchGPT on its business.
US Democratic Rep. Jennifer Wexton of Virginia made history by becoming the first lawmaker to use an AI-generated model of her voice to speak on the House floor. Due to her battle with progressive supranuclear palsy (PSP), Wexton has lost the ability to use her full voice and move around as she once did. She announced in September that she would not seek reelection, citing her deteriorating health.
On Thursday, Wexton addressed the US House of Representatives using the AI model, explaining her reliance on a walker and anticipating the need for a wheelchair before her term ends. Hearing the AI rendition of her voice for the first time, Wexton described it as ‘the most beautiful thing I had ever heard,’ bringing her to tears.
Wexton’s diagnosis has renewed her determination to use her platform to help others. Her historic use of augmentative and alternative communication devices on the House floor highlights her commitment to continue serving despite her health challenges.
Sam Altman, co-founder and CEO of OpenAI, raises a critical question: ‘Who will control the future of AI?’. He frames it as a choice between a democratic vision, led by the US and its allies to disseminate AI benefits widely, and an authoritarian one, led by nations like Russia and China, aiming to consolidate power through AI. Altman underscores the urgency of this decision, given the rapid advancements in AI technology and the high stakes involved.
Altman warns that while the United States currently leads in AI development, this advantage is precarious due to substantial investments by authoritarian governments. He highlights the risks if these regimes take the lead, such as restricted AI benefits, enhanced surveillance, and advanced cyber weapons. To prevent this, Altman proposes a four-pronged strategy – robust security measures to protect intellectual property, significant investments in physical and human infrastructure, a coherent commercial diplomacy policy, and establishing international norms and safety protocols.
He emphasises proactive collaboration between the US government and the private sector to implement these measures swiftly. Altman believes that proactive efforts today in security, infrastructure, talent development, and global governance can secure a competitive advantage and broad societal benefits. Ultimately, Altman advocates for a democratic vision for AI, underpinned by strategic, timely, and globally inclusive actions to maximise the technology’s benefits while minimising risks.
Two European Parliament committees have formed a joint working group to oversee the implementation of the AI Act, according to sources familiar with the matter. The committees involved, Internal Market and Consumer Protection (IMCO) and Civil Liberties, Justice and Home Affairs (LIBE), are concerned about the transparency of the AI Office’s staffing and the role of civil society in the implementation process.
The European Commission’s AI Office is responsible for coordinating the implementation of the AI Act, which will come into force on 1 August. The Act prohibits certain AI applications, like real-time biometric identification, which will be enforced six months later. Full implementation is set for two years after the Act’s commencement when the Commission must clarify key provisions.
Traditionally, the European Parliament has had a limited role in regulatory implementation, but MEPs focused on tech policy are pushing for greater involvement, especially with recent digital regulations. The Parliament already monitors the implementation of the Digital Services and Digital Markets Acts, aiming to ensure effective oversight and transparency in these critical areas.
Shares in European semiconductor firms fell on Thursday as demand from automotive and industrial clients dropped, contributing to a broader sector downturn. While companies like ASML and ASM International benefit from the booming AI chip market and high-end tech clients, they are not entirely immune to stock valuation corrections and trade tensions involving China, the US, and Europe. Shares in both firms declined by about 3%.
Chipmakers with less AI exposure were hit harder. STMicroelectronics, a supplier for Tesla, saw a 14% drop after cutting sales and margin targets for the second time this year. Germany’s Infineon, a major automotive chip supplier, fell by 6%. NXP Semiconductors reported its worst revenue decline in four years due to weak automotive demand, negatively impacting US peers with similar exposures.
Despite the challenges, some companies still see growth prospects. Siltronic raised its guidance due to the AI market, which is expected to grow this year. However, BE Semiconductor Industries experienced a 13% slump after forecasting flat third-quarter sales, impacted by weak growth in mainstream assembly markets, particularly in China, even as AI-related orders increased.
The broader European semiconductor sector, represented by the STOXX 600 Technology index, was down 2.8%, dragged by various firms including ams OSRAM, Melexis, Technoprobe, Soitec, and Nordic Semiconductor. Despite current struggles, industry fundamentals remain strong, with companies hopeful that electric vehicle demand will recover, particularly for silicon carbide components.
