Indian AI startup Neysa has raised $30 million in a Series A funding round, aiming to compete with global hyperscalers like AWS and Google Cloud. Led by Sharad Sanghi, Neysa offers AI infrastructure and machine learning platforms, catering to businesses seeking flexibility in AI solutions. The startup focuses on both public cloud and private clusters, differentiating itself by using open-source platforms with no client lock-in.
Neysa plans to use the new funding to enhance its infrastructure, expand research and development, and introduce new products, including a developer platform and inference-as-a-service. Since launching its flagship platform Velocis in July, the Mumbai-based company has grown to 12 paying customers across industries like banking and media, with 70% opting for private clusters. The startup expects to enter global markets in the coming months, with additional funding already in the works.
Neysa’s rise reflects the growing demand for AI infrastructure in India, where the market is projected to reach $17 billion by 2027. With fresh capital and plans for expansion, Neysa is positioning itself as a significant player in the AI space, both in India and abroad.
Cities are increasingly turning to AI to enhance waste management and reduce contamination in recycling and composting efforts. In East Lansing, Michigan, where a significant student population often contributes to recycling contamination, city officials have launched a pilot program using AI to address the issue. The initiative includes equipping recycling trucks with AI-powered cameras that identify non-recyclable items and sending personalised postcards to residents to inform them of their mistakes. This approach has reportedly led to a 20% reduction in recycling contamination.
Despite these promising results, privacy concerns have arisen regarding the collection of personal data through these AI systems. Experts warn that the information gathered from residents’ trash could expose sensitive details about their lives, potentially leading to identity theft or misuse by authorities. For instance, a discarded pregnancy test could be used against a woman in states with strict abortion laws. This phenomenon, referred to as ‘mission creep,’ raises alarms about how technologies designed for one purpose can evolve into surveillance tools.
City officials, like East Lansing’s environmental sustainability manager Cliff Walls and Leduc’s environmental manager Michael Hancharyk, acknowledge these privacy issues and are taking steps to mitigate risks. They emphasise working with vendors to ensure data protection and transparency with residents. Hancharyk noted that his city had to comply with Alberta’s privacy regulations before implementing its program.
While acknowledging the importance of improving waste management, cybersecurity experts stress the need for municipalities to carefully weigh the benefits of AI against the potential risks to residents’ privacy. They advocate for thorough assessments of new technologies and their implications, particularly for sensitive populations. As cities continue to innovate in waste management, striking a balance between efficiency and privacy will be crucial.
AI could help reduce the number of missed broken bones during X-ray analysis, according to the National Institute for Health and Care Excellence (NICE). The organisation recommends using four AI tools in urgent care settings in England to assist doctors in detecting fractures. This comes as radiologists and radiographers face high vacancy rates, putting a strain on the system.
NICE estimates that missed fractures account for up to 10% of diagnostic errors in emergency departments in the UK. AI is seen as a solution to this problem, working alongside healthcare professionals to catch mistakes that may occur due to heavy workloads. Experts believe using AI can speed up diagnoses, decrease the need for follow-up appointments, and ultimately ease pressure on hospital staff.
AI will not replace human expertise, as radiologists will still review all X-ray images. However, NICE assures that the technology could offer a more accurate and efficient process without increasing the risk of incorrect diagnoses or unnecessary referrals. The consultation period on this proposed use of AI in fracture detection will conclude on 5 November 2024.
The United States Federal Trade Commission (FTC) has introduced a rule banning the creation, purchase, and dissemination of fake online reviews, ensuring that testimonials are genuine and trustworthy. That includes reviews attributed to people who don’t exist, those generated by AI, or individuals with no real experience with the product or service.
The rule empowers the FTC to impose civil penalties on businesses and individuals knowingly engaging in such deceptive practices, holding violators accountable. By cracking down on fake reviews, the FTC protects consumers from being misled and ensures they can make informed purchasing decisions.
That initiative also promotes fair competition by penalising dishonest companies and supporting those operating with integrity, fostering a transparent and competitive marketplace. Additionally, the FTC’s rule goes beyond fake reviews by prohibiting businesses from using manipulative tactics such as unfounded legal threats, physical intimidation, or false accusations to influence their online reputation.
These measures prevent companies from using unethical strategies to control public perception, ensuring that business reputations are based on genuine consumer feedback, not coercion or deceit. The FTC aims to create a market environment that values honesty and fairness through this comprehensive approach.
Qualcomm is integrating advanced AI technology from its laptop processors into mobile phone chips. The new Snapdragon 8 Elite chip introduces improved capabilities for generative AI, such as producing images and text.
The chip incorporates Qualcomm’s Oryon custom computing technology, originally developed by engineers who joined the company from Apple in 2021. This innovation aligns with the company’s broader effort to push AI features across various platforms.
Developers will benefit from enhanced tools that complement existing Android functionalities, allowing deeper use of the Snapdragon chip’s AI capabilities. Qualcomm aims to distinguish its approach from Google’s rapid developments in AI by offering unique technologies to app creators.
Major companies, including Samsung, Xiaomi, and Asustek, are set to integrate Qualcomm’s latest chips into their devices. This marks another step in the company’s strategy to remain a leader in mobile computing and AI solutions.
The European Union has joined forces with venture capital firms to boost investment in the region’s tech sector, aiming to compete with the more advanced industries in the US and China. The new initiative, called the “Trusted Investors Network,” involves 71 investors managing over €90 billion in assets, focused on supporting European deep-tech companies.
This collaboration follows recommendations from a report by former European Central Bank chief Mario Draghi, which highlighted the need for swift, large-scale investments in critical technologies to ensure Europe’s global competitiveness. The initiative addresses concerns that Europe is lagging behind in tech innovation, particularly compared to the US, where AI deals have significantly boosted venture capital activity.
The EU hopes that this partnership will inject much-needed funding into Europe’s tech industry, encouraging faster growth and helping the region keep pace with global competitors.
A recent study by McKinsey highlights that Portugal must retrain around 1.3 million workers, about 30% of its workforce, by 2030 to adopt generative AI and close its productivity gap with the rest of the European Union. Portugal has long struggled with low productivity, which has contributed minimally to GDP growth compared to the EU average. However, the study predicts that by rapidly integrating AI and automation, the country could significantly boost productivity, matching projected EU levels.
Generative AI, which creates content like text and images based on past data, could help Portugal compete with more developed economies if the workforce is prepared for the technological shift. This change will also require the public, private, and education sectors to collaborate in reshaping job roles and work processes. For every euro invested in AI technology, McKinsey suggests that three euros will be needed for managing organisational transitions.
Besides upskilling 1.3 million workers, the study indicates that around 320,000 employees in roles like customer service will need to transition to new jobs. This large-scale transformation could position Portugal for stronger economic growth in the coming years.
Honeywell has formed a partnership with Google to connect AI with industrial data. The collaboration aims to enhance autonomous operations, streamlining processes for Honeywell’s customers.
Google’s Gemini, its advanced AI platform, will merge with data from Honeywell’s Forge platform to automate tasks and shorten project timelines. The first AI-powered solutions will be available in 2025, offering support for engineers, technicians, and warehouse workers.
The partnership seeks to address industry labour shortages by introducing AI tools that boost productivity and efficiency. Automated processes will cut design cycles and process multiple data types, including images, videos, and sensor readings, using Google’s Vertex AI platform.
Honeywell’s CEO Vimal Kapur emphasised the goal of optimising asset performance, improving employee skills, and reducing maintenance costs. The partnership reflects a broader strategy to harness the latest advancements in AI to drive operational improvements.
Dow Jones and the New York Post have taken legal action against AI startup Perplexity AI, accusing the company of unlawfully copying their copyrighted content. The lawsuit is part of a wider dispute between publishers and tech companies over the use of news articles and other content without permission to train and operate AI systems.
Perplexity AI, which aims to disrupt the search engine market, assembles information from websites it deems authoritative and presents AI-generated summaries. Publishers claim that Perplexity bypasses their websites, depriving them of advertising and subscription revenue, and undermines the work of journalists.
The lawsuit, filed in the Southern District of New York, argues that Perplexity’s AI generates answers based on a vast database of news articles, often copying content verbatim. News Corp, owner of Dow Jones and the New York Post, is asking the court to block Perplexity’s use of its articles and to destroy any databases containing copyrighted material.
Perplexity has also faced allegations from other media organisations, including Forbes and Wired. While the company has introduced a revenue-sharing programme with some publishers, many news outlets continue to resist, seeking stronger legal protections for their content.
Alcon Entertainment, the producer behind Blade Runner 2049, has filed a lawsuit against Tesla and Warner Bros, accusing them of misusing AI-generated images that resemble scenes from the movie to promote Tesla’s new autonomous cybercab. Filed in California, the lawsuit alleges violations of US copyright law and claims Tesla falsely implied a partnership with Alcon through the use of the imagery.
Alcon stated that it had rejected Warner Bros’ request to use official Blade Runner images for Tesla’s cybercab event on October 10. Despite this, Tesla allegedly proceeded with AI-created visuals that mirrored the film’s style. Alcon is concerned this could confuse its brand partners, especially ahead of its upcoming Blade Runner 2099 series for Amazon Prime.
Though no specific damages were mentioned, Alcon emphasized that it has invested hundreds of millions in the Blade Runner brand and argued that Tesla’s actions had caused substantial financial harm.
