The surge in AI exchange-traded funds (ETFs) reflects the growing investor enthusiasm for AI as fund managers launch new options to capture market interest. According to Morningstar, over a third of the AI-focused ETFs on the market were introduced in 2024, raising total assets in this category to $4.5 billion—close to the $5.5 billion held by nuclear-themed ETFs and far outpacing the $1.37 billion in cannabis funds. This growth is partially driven by high-profile gains, like chipmaker Nvidia’s stock surge of over 200% in the last year, which underscores AI’s profit potential, said Morningstar senior analyst Daniel Sotiroff.
BlackRock has added two new actively managed AI ETFs to its lineup, aiming to capture emerging opportunities in AI as the technology evolves. “The AI market is going to change dramatically,” noted Tony Kim of BlackRock, highlighting that what AI represents today will continue to shift. Bank of America analysts agree, describing the competition in AI among tech giants like Microsoft and Amazon as an “arms race.” This year, capital spending on AI by these firms is expected to total $206 billion, marking a 40% increase over last year, while venture capital funding for AI startups is projected to rise 27%, reaching $79.2 billion.
Despite the enthusiasm, AI-focused funds haven’t consistently outperformed the broader market; for instance, the Global X Artificial Intelligence & Technology ETF has gained about 20% in 2024, trailing the S&P 500’s 22% rise. Amplify ETFs recently shifted an existing cloud-computing ETF to focus on AI opportunities, illustrating the industry’s shift toward differentiating AI investment strategies. Nathan Miller of Amplify said that capturing the potential of AI-related capital spending remains a priority for long-term growth.
Meta has launched NotebookLlama, an ‘open’ version of Google’s NotebookLM generate-a-podcast tool, but using Meta’s Llama AI models. NotebookLlama processes uploaded text files, such as PDFs or blog posts, creating a podcast-style summary with dramatisation and interruptions, followed by conversion to speech through open text-to-speech models. However, early feedback highlights a robotic, less natural sound, with voices sometimes overlapping awkwardly.
Meta’s researchers acknowledge the audio limitations and suggest that quality could improve with better text-to-speech models. They also propose evolving the format to feature two AI agents debating topics rather than a single model handling the outline.
Despite various efforts to replicate NotebookLM’s podcast capabilities, all still struggle with AI ‘hallucinations,’ making the generated content prone to inaccuracies.
Smartwatches are revolutionising preventative health by providing continuous, detailed insights into users’ physiological data. At CHUV University Hospital, Chief Anaesthesiologist Patrick Schoettker is exploring ways to leverage smartwatches like the Masimo W1 to monitor patients ahead of surgery. This device collects real-time health data, including heart rate, oxygen levels, and hydration, to create a “digital twin” that could help identify and mitigate risks before operations. Schoettker and his team hope to reduce surgery-related complications by using these insights to anticipate issues.
The potential of smartwatches extends beyond surgery. Leading cardiologists, like Gosia Wamil at Mayo Clinic Healthcare, are already using smartwatch data to detect irregular heart rhythms and other cardiac conditions early, facilitating timely intervention. AI algorithms can now analyse data from wearable devices to predict more serious heart issues, such as low ejection fraction—an early warning sign of heart failure. This technology has also proven useful in tracking health risks among patients with chronic conditions like diabetes, to prevent complications such as heart attacks and strokes.
Beyond cardiology, wearable technology holds promise for neurological and chronic conditions. Research has shown that smartwatches can detect early signs of Parkinson’s disease years before symptoms are noticed by patients. Studies are also underway to assess how smartwatch data might predict seizures in epilepsy patients, helping them better manage risks. As smartwatches grow more sophisticated, their ability to track various health metrics could reshape preventative care. While concerns about false positives remain, experts believe the benefits, such as early detection and reduced healthcare costs, are likely to outweigh these challenges.
Google is working on a new AI technology that can take control of web browsers to perform tasks like research and online shopping, according to a report by The Information. The project, code-named ‘Project Jarvis,’ is expected to be showcased in December alongside Google’s upcoming Gemini large language model.
This initiative is part of a growing trend, with competitors like Microsoft-backed OpenAI also aiming to develop AI agents capable of navigating the web autonomously. Unlike current AI models, Google’s new software is designed to interact directly with a person’s computer or browser, potentially handling complex tasks more seamlessly.
The development reflects a broader industry push to create AI systems that can perform internet-based tasks independently, potentially transforming how users interact with technology. Google has not yet commented on the report, but the anticipated December demonstration could offer a glimpse into the future of automated online assistance.
Universal Music Group has released a Spanish rendition of Brenda Lee’s 1958 hit ‘Rockin’ Around the Christmas Tree.’ Titled ‘Noche Buena y Navidad,’ the new version was produced using AI technology developed by SoundLabs, with approval from Lee herself and under the guidance of Latin music producer Auero Baqueiro.
The song preserves the original instrumental and background arrangements while substituting Lee’s English vocals with newly generated Spanish vocals. These vocals were created using SoundLabs’ MicDrop, an AI-powered plug-in that replicates voices. The result aims to deliver a performance that feels as though the 13-year-old Brenda Lee recorded it in Spanish from the start.
Universal Music highlighted that the project illustrates how AI can be ethically integrated into music, with full artist consent and creative control. Recent controversies over AI-generated content in entertainment have raised questions about copyright and authenticity, making authorised projects like this one particularly noteworthy.
In June, Universal partnered with SoundLabs to develop official AI-powered vocal models for artists. This approach ensures musicians retain ownership of their voice data and maintain authority over the final output, promoting responsible use of AI in music creation.
CelcomDigi and AmBank have formed a strategic partnership to revolutionise digital healthcare in Malaysia through a newly signed Memorandum of Understanding (MoU). That collaboration will deliver affordable digital healthcare solutions over the next three years, empowering healthcare providers with advanced tools and services that leverage AI to enhance patient care and healthcare delivery.
Under this partnership, CelcomDigi will provide essential connectivity, while AmBank will offer financial services such as specialised medical financing, loans, insurance, and payment solutions, making these innovations more accessible to healthcare institutions. The initiative will introduce various solutions, including Smart Health Kiosks for monitoring vital health metrics and Medi-Scan technology, which utilises AI for biometric assessments. The focus is particularly on improving healthcare access in underserved areas, addressing the historical limitations of quality healthcare in these regions.
The commitment to enhancing healthcare accessibility for all Malaysians aligns with the initiatives of the Malaysian Communications and Multimedia Commission to elevate the country’s healthcare system to a global standard. Integrating telecommunications and digital infrastructure is deemed essential to achieve this goal. Together, the organisations aim to create a more connected and inclusive healthcare ecosystem that supports predictive, preventive, and precision treatments, ultimately improving clinical outcomes for patients.
The Biden administration announced on Monday new rules restricting US investments in specific technology sectors in China, including AI, semiconductors, and quantum computing, citing national security concerns. These rules, effective from 2 January, aim to prevent US capital and expertise from aiding China’s development of military and intelligence capabilities. Issued under an executive order from August 2023, the regulations will be managed by the Treasury’s new Office of Global Transactions.
The targeted technologies are considered crucial to future military and cyber defence. Treasury officials note that US investments often include more than money—managerial support, network access, and intellectual expertise—that could benefit Chinese advancements in sensitive sectors. A senior Treasury official, Paul Rosen, emphasised that these restrictions curb potential US involvement in developing cutting-edge technologies for adversarial nations.
The US Commerce Secretary Gina Raimondo has previously highlighted the importance of these measures, viewing them as essential to slowing China’s progress in military technologies. The new regulations allow for investments in publicly traded Chinese securities; however, existing rules still restrict transactions involving certain Chinese firms deemed to support military development.
Additionally, the rules respond to recent criticism from the House Select Committee on China, which has scrutinised American index providers for funnelling US investments into Chinese companies linked to military advancements. With these regulations, the administration underscores its intent to protect US interests by limiting China’s access to critical technology expertise and capital.
President Biden signed a landmark national security memorandum to strengthen how AI is employed across defence and intelligence operations. The directive outlines strict protections on AI use, preventing autonomous systems from making high-stakes decisions like nuclear launches and immigration rulings. Jake Sullivan, the national security adviser, highlighted the need for the US to maintain its competitive edge in AI to safeguard national security.
‘Few technologies will be as critical to our future security as AI,’ Sullivan said at the National Defense University in Washington. He underscored the administration’s aim to roll out AI protections faster than other global powers and underscored a balance between open market competition and secure innovation.
The memorandum also directs federal agencies to bolster the security and diversity of chip supply chains and prioritise gathering intelligence on foreign AI operations targeting the US sector. These insights will support AI developers in protecting their products from adversarial threats.
However, with many recommendations set to take effect post-2025, it’s uncertain if the next administration will uphold these regulations. Experts emphasise that while AI is kept out of nuclear launch decisions, it still influences the data presidents receive, raising questions about reliance on AI for critical decision-making.
In the meantime, the administration will convene a global safety summit in San Francisco next month to address AI risks and foster international cooperation. This move adds to Biden’s executive order from last year, which aimed to limit AI’s risks to consumers, workers, and minority groups.
Nvidia overtook Apple on Friday to become the world’s most valuable company, driven by soaring demand for its AI chips. The chipmaker’s market value briefly reached $3.53 trillion, slightly surpassing Apple’s $3.52 trillion. Nvidia closed the day at $3.47 trillion, while Apple ended with $3.52 trillion after a modest stock increase.
Market fluctuations among the tech giants have been ongoing for months, with Apple, Nvidia, and Microsoft exchanging positions. Microsoft’s market value currently stands at $3.18 trillion. Nvidia dominates the market for processors used in AI computing, competing with major players like Microsoft, Alphabet, and Meta for leadership in this rapidly expanding field.
The company’s stock has surged by 18% this month, partly fuelled by news of OpenAI raising $6.6 billion in fresh funding. Nvidia shares also benefited from optimism around data centre demand, boosted by Western Digital’s better-than-expected earnings report on Friday.
Investment analysts suggest Nvidia is well-positioned to thrive as AI adoption grows. Russ Mould from AJ Bell highlighted the company’s strategic advantage, noting that if the US economy remains stable, investment in AI technologies will continue, further supporting Nvidia’s success.
Elon Musk’s AI venture, xAI, has just enhanced its Grok model with image-understanding capabilities. This means that paid users on the social media platform X can now upload images and engage with Grok to ask questions about them. Announcements from both Musk and the official Grok handle confirm that the feature is in its early stages, with plans to refine and expand it further over time.
Alongside image analysis, Grok’s latest abilities include explaining jokes through this new feature, showcasing an evolving grasp of visual content. Initially released in August, Grok-2 provided premium users on X with access to a multimodal chatbot, featuring image generation through the FLUX.1 model by Black Forest Labs. This is part of xAI’s broader aim to create an immersive AI experience on X, including plans for additional multimodal capabilities through the platform’s developer API.
Looking ahead, Grok is expected to soon handle documents, such as photos and PDFs. Musk hinted at rapid advancements, emphasising xAI’s accelerated timeline compared to others in the industry. To boost appeal for paying subscribers, X has also introduced “Radar,” a tool offering Premium+ users real-time insights into trending topics and ongoing conversations.
