As the market for AI applications in specific domains keeps growing, startup LinqAI has found its niche within the financial sector. This platform seeks to make AI tools that are able to adapt to any business environment and take care of simpler tasks like facilitating research or synthesising data.
LinqAI presents the advantage of being trained on materials and large language models (LLMs) relevant to their sector, making this tool more adapted to client’s use cases. It will be entering a field which rapidly adapted to the use of AI. Bloomberg has an AI tool to summarise earning calls, while S&P uses AI to extract relevant information from documents. However, co-founder Jacob Chanyeol Choi says his AI tool goes beyond competitors, introducing a company-specific data-gathering system which will ‘seamlessly integrate with a company’s data ecosystem’.
The tool’s website commits to a ‘no-harvesting’ data policy and transparency with its community. ‘we do not collect or utilise user data for any purposes outside of the immediate functional requirements of our AI tools’, it says.
LinqAI was recently able to secure USD 6.6 million in funding from various organisations and investment firms.
Oracle’s stock soared nearly 9% on Wednesday, propelled by surging demand for its cost-effective cloud infrastructure services, particularly from AI applications. The surge could boost the company’s market valuation by over $28 billion, adding to its current $340 billion valuation. With an 18% increase in shares since the beginning of the year, Oracle is capitalising on the momentum of its cloud infrastructure unit, which offers computing and storage services to businesses at competitive prices, positioning itself against major rivals like Google, Microsoft, and Amazon.
Oracle’s cloud infrastructure has garnered attention from AI startups, including Elon Musk’s xAI, thanks to its affordability compared to competitors. In a strategic move, Oracle recently announced partnerships with ChatGPT-maker OpenAI and Google Cloud to expand its cloud infrastructure offerings. That collaboration strengthens Oracle’s position as an AI platform and extends its database services distribution, as Evercore analyst Kirk Materne highlighted.
While Oracle’s forward earnings estimates stand at 19.59 times, lower than those of its major competitors, its fourth-quarter results missed expectations. Due to increasing competition from more cost-effective alternatives, the company faces challenges in its legacy database and enterprise resource planning (ERP) software business. Morningstar analyst Julie Sharma suggests that Oracle may experience customer churn as businesses undergo significant digital transformations, opting for cheaper database and ERP solutions over Oracle’s offerings.
Particle, a news-reader startup developed by former Twitter engineers, is partnering with publishers to navigate the evolving landscape of news consumption in the AI era. By leveraging AI technology, Particle aims to provide news summaries from various publishers through its app, offering readers a comprehensive understanding of current events from multiple perspectives. That approach seeks to address concerns within the publishing industry about potential revenue loss due to AI-driven news summaries.
Now, Particle has teamed up with Reuters to explore new business models in a significant move. The startup has subscribed to Reuters newswire to enhance its news delivery capabilities. Additionally, Particle secured $10.9 million in Series A funding led by Lightspeed Venture Partners, with investments from media giant Axel Springer. These partnerships and investments underscore Particle’s commitment to collaborating with publishers to address their needs and goals in the rapidly evolving media landscape.
Particle’s co-founder, Sara Beykpour, emphasises the startup’s focus on delivering value to news consumers beyond AI summaries. With a mission to help readers cut through the noise and understand the news faster, Particle offers a personalised news experience while ensuring exposure to diverse viewpoints. By presenting news stories holistically and integrating perspectives from multiple outlets, Particle aims to combat information overload and mitigate media bias.
Why does it matter?
Despite its innovative approach, Particle has yet to finalise its business model. The startup actively engages with publishers to develop a sustainable model that benefits readers and publishers. Possibilities include revenue sharing, advertising, and more, with input from industry stakeholders shaping the future direction of Particle’s business strategy.
Brazil’s government has enlisted OpenAI’s services to streamline the assessment of thousands of lawsuits using AI, aiming to mitigate costly court losses that have burdened the federal budget. Through Microsoft’s Azure cloud-computing platform, OpenAI’s AI technology, including ChatGPT, will identify lawsuits requiring prompt government action and analyse trends and potential focus areas for the solicitor general’s office (AGU).
The AGU revealed that Microsoft would facilitate the AI services from OpenAI, though the exact cost of Brazil’s procurement remains undisclosed. The initiative responds to the escalating financial strain caused by court-ordered debt payments, which are anticipated to reach 70.7 billion reais ($13.2 billion) next year, excluding smaller claims. The surge from 37.3 billion reais in 2015, equivalent to about 1% of GDP, surpasses government expenditures on unemployment insurance and wage bonuses for low-income earners by 15%.
While the AGU has not clarified the reasons behind Brazil’s mounting court expenses, it assures that the AI project will not supplant human efforts but enhance efficiency and precision, all under human supervision. This move aligns with broader governmental efforts, including releasing 25 million reais in supplementary credits for AGU in March to implement strategic IT projects and bolster operational capacities.
Two partnerships were unveiled at Apple’s yearly Worldwide Developer Conference on Monday; one on stage and one in the fine-print. A partnership with OpenAI to use GPT 4.0 within Siri’s Apple Intelligence was openly publicised, but use of Google chips to build the AI tools was not.
Initially, it would seem as though the two companies are at odds. Apple would be set to compete with Google’s Gemini over their AI systems, while the OpenAI partnership could potentially mean reduced access to customer data through Siri.
However, a technical document published by Apple after the event reveals that in order to build their AI models, Apple used its own framework software. This software depended on various pieces of Apple’s own hardware, but also tensor processing chips (TPCs). These are exclusively available for purchase through Google’s cloud. Google is among various companies competing with Nvidia’s AI-capable chips, which have been dominating the market recently.
Apple did not immediately reply after Reuters requested comment. It has not detailed how much it depends on third-party chips for the development of its new AI system.
Pope Francis is set to make history at the upcoming G7 summit in Italy’s Puglia region by becoming the first pope to address the gathering’s discussions on AI. His participation underscores his commitment to ensuring that AI development aligns with human values and serves the common good. The 87-year-old pontiff recognises the potential of AI for positive change but also emphasises the need for careful regulation to prevent its misuse and safeguard against potential risks.
At the heart of the pope’s message is the call for an ethical framework to guide AI development and usage. Through initiatives like the ‘Rome Call for AI Ethics’, the Vatican seeks to promote transparency, inclusion, responsibility, and impartiality in AI endeavours. Notably, major tech companies like Microsoft, IBM, Cisco Systems, and international organisations have endorsed these principles.
During the G7 summit, Pope Francis is expected to advocate for international cooperation in AI regulation. He emphasises the importance of addressing global inequalities in access to technology and mitigating threats like AI-controlled weapons and the spread of misinformation. His presence at the summit signifies a proactive engagement with contemporary issues, reflecting his vision of a Church actively involved in shaping the world’s future.
The pope’s decision to address AI at the G7 summit follows concerns about the rise of ‘deepfake’ technology, exemplified by manipulated images of himself circulating online. He recognises the transformative potential of AI in the 21st century and seeks to ensure its development aligns with human dignity and social justice. Through his participation, Pope Francis aims to contribute to the creation of an ethical and regulatory framework that promotes the responsible use of AI for the benefit of all humanity.
MediaTek, a leading semiconductor company in Taiwan, is collaborating with Microsoft to design an ARM-based chip specifically for its Windows operating system AI-powered laptops. The strategic partnership marks a significant move in the tech industry. Last month, Microsoft unveiled a new generation of laptops featuring chips designed with ARM Holdings technology, providing the necessary power to run advanced AI applications. These applications are considered the future of consumer computing by Microsoft executives.
MediaTek’s new chip is set to be integral in this effort and is expected to bring substantial advancements in processing power and efficiency. That collaboration underscores the growing demand for high-performance, energy-efficient chips tailored for AI applications. Their ARM-based chip is designed to optimize AI tasks, leveraging ARM’s architecture known for its power efficiency and performance scalability. The development aligns with the industry trend of integrating specialized hardware to handle AI workloads more effectively, reducing the reliance on general-purpose CPUs.
For Microsoft, this partnership with MediaTek represents a strategic move to strengthen its position in the competitive AI hardware market. By incorporating MediaTek’s advanced chip technology, Microsoft aims to offer more capable AI laptops, appealing to both consumer and enterprise markets. The collaboration also takes direct aim at Apple, which has been using its own ARM-based chips for Mac computers for roughly four years. Also, Microsoft’s decision to optimise Windows for ARM could pose a significant challenge to Intel’s long standing dominance in the PC market. For decades, Windows machines have relied on chip architectures developed by Intel and AMD. MediaTek’s PC chip is expected for release late next year, coinciding with the end of Qualcomm’s exclusive deal to supply ARM-based chips for Windows laptops.
Why does it matter?
Enhanced AI capabilities: The integration of MediaTek’s specialised chip will enable Microsoft’s AI laptops to perform more complex AI tasks with greater efficiency and speed. That advancement is crucial as AI applications become more sophisticated and demand higher computational power.
Energy efficiency: ARM-based chips are known for their power efficiency, which means that AI laptops equipped with these chips will likely have longer battery life and reduced energy consumption. This is particularly important for users who require high performance without sacrificing mobility.
Market innovation: The partnership could set a new standard in the AI hardware market, encouraging other tech companies to develop and integrate specialised chips for AI applications. That could lead to a surge in innovation, driving the development of more advanced and capable AI devices.
Competitive edge: For both MediaTek and Microsoft, this collaboration provides a competitive edge. MediaTek can showcase its capacities in developing cutting-edge chips, while Microsoft can differentiate its AI laptops in a crowded market by offering superior performance and efficiency.
Alphabet’s Google announced that Brazil will be the first country to test a new anti-theft feature for Android phones, utilising AI to detect and lock stolen devices. The initial test phase will offer three locking mechanisms. One uses AI to identify movement patterns typical of theft and lock the screen. Another allows users to remotely lock their screens by entering their phone number and completing a security challenge from another device. The third feature locks the screen automatically if the device remains offline for an extended period.
These features will be available to Brazilian users with Android phones version 10 or higher starting in July, with a gradual rollout to other countries planned for later this year. Phone theft is a significant issue in Brazil, with nearly 1 million cell phones reported stolen in 2022, marking a 16.6% increase from the previous year.
In response to the rising theft rates, the Brazilian government launched an app called Celular Seguro in December, allowing users to report stolen phones and block access via a trusted person’s device. As of last month, approximately 2 million people had registered with the app, leading to the blocking of 50,000 phones, according to the Justice Ministry.
Turkish authorities have arrested a student for using a makeshift device linked to AI software to cheat during a university entrance exam. The student, who was acting suspiciously, was detained by police during the exam and later formally arrested and sent to jail pending trial. Another individual involved in helping the student was also detained.
A police video from Isparta province showed the student’s setup: a camera disguised as a shirt button connected to AI software through a router hidden in the sole of their shoe. The system allowed the AI to generate correct answers, relayed to the student through an earpiece.
This incident highlights the increasing use of advanced technology in cheating, prompting concerns about exam security and integrity. The authorities are now investigating the extent of this cheating method and considering measures to prevent similar occurrences in the future.
Apple is integrating OpenAI’s ChatGPT into Siri, as announced at its WWDC 2024 keynote. The partnership will allow iOS 18 and macOS Sequoia users to access ChatGPT for free, with privacy measures ensuring that queries aren’t logged. Additionally, paid ChatGPT subscribers can link their accounts to access premium features on Apple devices.
Apple had been negotiating with Google and OpenAI to enhance its AI capabilities, ultimately partnering with OpenAI. The enhanced feature will utilise OpenAI’s GPT-4o model, which will power ChatGPT in Apple’s upcoming operating systems.
OpenAI CEO Sam Altman expressed enthusiasm for the partnership, highlighting shared commitments to safety and innovation. However, Elon Musk, the billionaire CEO of Tesla, SpaceX, and the social media company X announced a ban on Apple devices from his companies if Apple integrates OpenAI technology at the operating system level. Musk labelled this move an ‘unacceptable security violation’ and stated that visitors would be required to leave their Apple devices in a Faraday cage at the entrance to his facilities.
Why does it matter?
The new business plan aims to significantly enhance Siri’s capabilities with advanced AI features. The chatbot will be seamlessly integrated into Apple’s systemwide writing tools, enriching the user experience across Apple devices.
Central to this integration is a robust consent mechanism that requires users’ permission before sending any questions, documents, or photos to ChatGPT. Siri will present the responses directly, emphasising Apple’s commitment to user privacy and transparent data handling practices.
