Infosys is intensifying efforts in generative AI (GenAI) with over 225 programs aimed at client AI strategies, emphasising the role of talent in complex transformations. Chairman Nandan Nilekani highlighted the gradual adoption of enterprise AI compared to consumer AI, citing the need for significant internal adjustments and adherence to global laws.
The company has become a global leader in adopting GitHub Copilot, generating over 3 million lines of code using advanced language models. Nilekani expressed optimism about GenAI’s potential to address business challenges and enhance productivity through tools like GitHub Copilot.
Infosys is leveraging its platform, Infosys Topaz, and recent acquisitions like In-tech and InSemi to bolster capabilities, especially in the automotive sector, which focuses on software-defined vehicles. Infosys plans to emphasise cloud and GenAI capabilities through Infosys Cobalt, foreseeing growth opportunities in Northern Europe and sectors such as healthcare.
Financially, Infosys aims for margin expansion and continues to recruit fresh talent to support strategic initiatives amid evolving market demands.
A recent study from the University of Washington has exposed troubling biases in using AI for job application processes. The research identifies explicitly that OpenAI’s chatbot, ChatGPT, showed significant biases against disabled job applicants when used to screen CVs.
The research underscores concerns about existing AI tools perpetuating biases rather than mitigating them despite being designed to reduce human bias in hiring processes. Many companies rely on AI to streamline and expedite candidate screening, aiming to enhance recruitment efficiency.
Lead author Kate Glazko pointed out that ChatGPT’s biases can adversely affect how disabled jobseekers’ qualifications are perceived. Descriptions generated by ChatGPT tended to overshadow entire resumes based on disability-related content, potentially undermining the comprehensive evaluation of candidates.
Shari Trewin, Program Director of the IBM Accessibility Team, noted that AI systems, which typically rely on established norms, may inherently disadvantage individuals with disabilities. Addressing these biases requires implementing specific rules within AI systems to ensure fair treatment, as suggested by Glazko’s study advocating for AI to adopt principles aligned with Disability Justice values.
Why does it matter?
The study also calls for further efforts to mitigate AI biases and promote a more inclusive approach to technology development. It highlights the need for greater awareness and vigilance in using AI for sensitive real-world tasks like job recruitment, where fairness and equity are paramount concerns.
Amazon’s AWS, the leading global cloud computing provider, is intensifying efforts to draw the public sector into the realm of AI amidst fierce competition with Microsoft and Google in the generative AI domain. The initiative aims to demonstrate AI’s potential to enhance public services across health, security, and non-profit sectors, leveraging technologies like ChatGPT to streamline operations and improve outcomes.
Over two years, AWS has allocated a substantial $50 million fund to support public sector entities in exploring AI applications, offering cloud computing credits, training, and technical expertise to kickstart innovative projects. Currently serving thousands of government agencies, academic institutions, and nonprofits worldwide, AWS seeks to transition AI concepts into practical solutions that can effectively address public sector challenges.
Dave Levy, AWS’s vice president overseeing global public sector operations, highlighted the importance of moving from conceptualisation to implementation in public sector AI projects, underscoring the need for robust support to navigate complexities and achieve meaningful impacts. The push comes amid heightened competition as Microsoft and Google Cloud aggressively pursue public sector AI adoption, aiming to leverage vast datasets and AI capabilities to revolutionise service delivery and operational efficiency.
Amazon’s AWS remains committed to addressing challenges such as data privacy, security, and ethical considerations surrounding AI adoption in the public sector, emphasising rigorous security protocols and readiness for large-scale deployment.
Why does it matter?
As generative AI continues to evolve, AWS’s strategic focus on public sector adoption underscores its belief in AI’s transformative potential, aiming to lead the charge in integrating advanced technologies into governmental and non-governmental organisations worldwide.
Amazon is set to unveil its own AI chatbot, named ‘Metis’, following reports from Business Insider about the project’s development. Similar to OpenAI’s ChatGPT, Metis will operate via web browsers, offering conversational text responses, source links, suggested follow-up queries, and image generation capabilities, as revealed in internal documents.
What sets Metis apart is its integration of retrieval-augmented generation (RAG), allowing it to fetch information beyond its initial training data. This advanced capability promises to give Metis a competitive edge in the AI chatbot landscape, surpassing the limitations of existing models like ChatGPT, which have cutoff dates for their data reservoirs.
Metis is also poised to function as an ‘AI agent’, potentially serving as a smart home assistant capable of automating tasks such as controlling lights, organising travel itineraries, and booking flights. It operates on Amazon’s new internal AI model called Olympus, an upgraded version of the existing Titan model used in Amazon’s AI ecosystem, with expertise from the Alexa team enhancing its development.
However, opinions within Amazon about Metis are divided. While CEO Andy Jassy is reportedly invested in its development, others view the project as arriving late to an already crowded AI market dominated by advanced competitors. Amazon’s previous AI efforts, including corporate chatbots and AI chips, have seen mixed success, indicating a need for Metis to succeed as a significant player in AI technology.
Why does it matter?
The launch of Metis is tentatively scheduled for September, potentially coinciding with Amazon’s major event, although these plans remain subject to change. As Amazon navigates its entry into AI with Metis, the tech industry eagerly anticipates whether this new venture will mark a breakthrough or another challenge for the retail giant.
A recent report from Citigroup predicts a significant rise in banking profits, driven by the adoption of AI, with projections soaring to nearly $2 trillion by 2028 from the current $1.7 trillion. While AI has traditionally been used to optimise products and boost productivity, its role is expanding to include customer-facing tasks, similar to how ATMs revolutionised cash withdrawals.
Leading this transformation is DeepBrain AI, a startup based in California founded by Eric Seyoung Jang in 2016. Initially focusing on chatbots, the company now develops AI-powered avatars used by major South Korean banks like KB Kookmin Bank to manage frequently asked questions, thereby reducing the workload on human bankers.
Despite concerns that AI could replace human jobs, the Citigroup report and experts suggest that technology adoption historically leads to more job creation. For instance, the number of compliance officers in the United States has tripled since 2000. While AI may alter the nature of banking roles, it is unlikely to eliminate them. Roles are expected to evolve, necessitating new skills that complement AI technologies.
DeepBrain AI continues to innovate, expanding into sectors such as retail and broadcasting. In banking, their AI avatars are transitioning from in-branch kiosks to mobile banking apps, aiming to offer personalised, face-to-face conversational services.
Micron Technology surpassed revenue expectations in the third quarter due to robust demand for its memory chips, particularly in AI applications. However, its fourth-quarter revenue forecast, while meeting expectations, disappointed investors, leading to a 7.2% drop in after-hours trading.
The forecast failed to meet recent optimistic projections fuelled by the AI boom, which tempered market enthusiasm following a significant rise in Micron’s stock price earlier in the month. Micron’s Chief Business Officer emphasised their strategic advantage in AI chip supply, highlighting robust ongoing demand for their products in the years ahead.
Why does it matter?
Micron remains a prominent player in high-bandwidth memory chips essential for advanced AI systems, positioning it strongly in the semiconductor market. The company’s performance typically establishes benchmarks for the broader chip sector, influencing market sentiment toward competitors like Nvidia, whose stock declined following Micron’s earnings report.
Sequoia Capital is leading a $16 million investment in Dust, a French startup founded by former OpenAI researcher Stanislas Polu. Dust specialises in crafting bespoke AI bots for enterprises, leveraging advanced language models like OpenAI’s GPT and Google’s Gemini.
Its solutions cater to various business needs, such as customer support, sales analytics, and software code management. Instead of creating AI models from the ground up, Dust integrates its software with existing AI platforms such as Slack.
Why does it matter?
The funding round was geared towards facilitating Dust’s expansion into the US market and supporting its global ambitions. Despite facing competition from established entities and fellow startups, Dust maintains agility by using its flexibility to thrive in the competitive landscape of AI automation tools.
Small businesses in the United States increasingly turn to AI to improve their operations, although many encounter significant challenges during implementation. According to research conducted by Morning Consult on behalf of Visa, 52% of small businesses have already integrated AI, and an additional 50% plan to do so within the next two years.
Despite these advancements, 90% of businesses face obstacles in adopting AI, citing difficulties such as understanding how to use AI tools (47%), navigating various options (36%), and concerns regarding compatibility and security (31% and 26%, respectively). The study also identifies marketing as the most promising area for AI adoption among businesses not currently using AI, indicating widespread optimism about AI’s potential to increase efficiency and generate revenue.
Denise Press, Visa’s head of small business for North America, emphasised the dual challenge of acknowledging AI’s importance while grappling with the practicalities of implementation. She recommends that businesses begin with low-risk AI applications, such as automating tasks like drafting press releases, to become familiar with the technology’s advantages.
Why does it matter?
There is a collective encouragement for small businesses to cautiously and optimistically embrace AI, utilising partnerships and expertise from vendors to navigate these transformative technologies effectively. However, the challenges highlighted—such as learning curves, security concerns, and navigating options—underscore the need for tailored support and guidance.
European defence technology startup Helsing is currently in negotiations to secure nearly $500 million from investors in Silicon Valley, including Accel and Lightspeed Venture Partners, amounting to $4.5 billion. This valuation marks a significant increase, tripling the company’s value in less than a year, possibly driven by heightened global conflicts which in turn are prompting a surge in private investments within the military supply sector.
Specialising in AI-based software for defence, Helsing was established in 2021 and works with AI to analyse extensive data from sensors and weapons systems, providing real-time battlefield intelligence to assist military decision-making processes. The company’s software is also contributing to the advancement of AI capabilities for drones in Ukraine.
Sources familiar with the negotiations revealed that Accel and Lightspeed will be new investors in Helsing, potentially joined by General Catalyst, a previous investor in the company. If finalised, this deal would position Helsing as one of Europe’s most valued artificial intelligence startups in terms of worth, at par with Paris-based Mistral, an AI startup that recently secured €600 million at a valuation nearing €6 billion. The reluctance of venture investors to engage with defence tech firms has notably shifted, particularly in the US and Europe, driven by escalating tensions between major powers and the ongoing conflict in Ukraine, leading to increased defence expenditure by nations.
NATO’s recent allocation of its €1 billion ‘innovation fund’ towards European tech firms points towards a notable shift, with Europe rapidly closing the investment gap in defence and dual-use technologies as compared to the US. The evolving landscape of modern warfare, as is the case in the Ukrainian conflict, emphasises the transition towards software-defined technologies over traditional hardware, enabling military forces to enhance strategic capabilities.
Why does it matter?
Helsing has forged partnerships with established defence contractors in Europe, such as Germany’s Rheinmetall and Sweden’s Saab, to integrate AI into existing platforms like fighter jets. Collaborating with Airbus, the startup is also developing AI technologies for application in both manned and unmanned systems.
YouTube is negotiating with major record labels to license their songs for AI tools that clone popular artists’ music. The negotiations aim to secure the content needed to legally train AI song generators and launch new tools this year. Google-owned YouTube has offered upfront payments to major labels like Sony, Warner, and Universal to encourage artists to participate, but many remain opposed, fearing it could devalue their work.
Previously, YouTube tested an AI tool called ‘Dream Track,’ which allowed users to create music clips mimicking well-known artists. However, only a few artists participated, including Charli XCX and John Legend. YouTube now hopes to sign up dozens more artists to expand its AI song generator tool, though it won’t carry the Dream Track brand.
Why does it matter?
These negotiations come as AI companies like OpenAI are making licensing agreements with media groups. The proposed music deals would involve one-off payments to labels rather than royalty-based arrangements. YouTube’s AI tools could become part of its Shorts platform, competing with TikTok and other similar platforms. As these discussions continue, major labels are also suing AI startups for allegedly using copyrighted recordings without permission, seeking significant damages.
