At TechCrunch Disrupt 2024, Ashton Kutcher, co-founder of Sound Ventures, shared his belief that every company will eventually incorporate AI, though he doubts there will be a single “winner” in the space. Kutcher emphasised the transformative potential of foundational AI models, which he views as essential to future innovation across industries. “There will not be a company in the world that is not, in some way, using AI,” he noted, adding that foundational companies in AI could become some of the most valuable in history.
Kutcher, alongside Sound co-founders Guy Oseary and Effie Epstein, explained that Sound Ventures is betting heavily on AI, with a $265 million fund backing major AI firms like OpenAI and Anthropic. Kutcher also shared that OpenAI’s CEO, Sam Altman, supported Sound’s multi-company AI investments, with the firm carefully maintaining confidentiality across its portfolio.
While some are apprehensive about AI’s rapid growth, Kutcher compared the technology’s potential impact to transformative past innovations like personal computers and cars. Advising founders, he highlighted the importance of strong teams over polished pitch decks, noting that real value lies in people, market insight, and breakthrough ideas.
Brazil’s net imports of crypto assets have surged by over 60% in the first nine months of 2024 compared to the same period last year, according to the country’s central bank. Total imports reached $12.9 billion through September, already exceeding the $11.7 billion recorded for all of 2023. Fernando Rocha, head of the central bank’s statistics department, noted a slight month-to-month decline from August to September but stressed that year-on-year growth remains strong.
Demand for stablecoins, digital assets pegged to real-world assets such as the United States dollar, has been the primary driver behind this increase, making up nearly 70% of all crypto transactions in Brazil this year, according to tax revenue data. Central bank chief Roberto Campos Neto recently announced plans to regulate stablecoins in 2025, citing concerns about their links to tax evasion and illicit activities.
As the world’s tenth-largest crypto market, according to blockchain analytics firm Chainalysis, Brazil continues to see stablecoins grow in popularity, largely due to their price stability and ease of international transfer. Unlike cryptocurrencies with fluctuating values, stablecoins such as Tether (USDT) and USDC offer Brazilians a reliable way to move funds quickly and securely.
Meta is working on a new AI search engine to lessen its reliance on Google and Microsoft’s Bing. The move places Meta among other tech giants, such as OpenAI, Google, and Microsoft, in the race to dominate the evolving AI-powered search landscape.
The new search tool aims to enhance Meta’s chatbot on WhatsApp, Instagram, and Facebook by offering conversational responses to real-time queries about news and events. Meta currently depends on Google and Bing to provide users with information on topics like news, stock markets, and sports.
As competition intensifies, Google is pushing its Gemini AI model into core services, including Search, to offer more interactive and intuitive experiences. OpenAI, meanwhile, continues to use Bing, leveraging its close partnership with Microsoft for topical queries.
The use of web data to train AI systems and build search engines has sparked debates about copyright and fair compensation. Meta recently announced that its chatbot would incorporate Reuters content to provide up-to-date answers to questions related to news and current events.
An AI transcription tool called Whisper, developed by OpenAI and used by thousands of clinicians and health systems, has come under scrutiny after researchers found it sometimes produces inaccurate transcriptions. Whisper, which powers the medical transcription tool from the company Nabla, has reportedly transcribed around 7 million medical conversations. While it accurately summarises many doctor-patient exchanges, researchers from Cornell University and the University of Washington discovered instances where the AI-generated entirely fabricated sentences, sometimes even adding irrelevant or nonsensical phrases.
The study, which was presented at the Association for Computing Machinery FAccT conference in Brazil in June, highlighted that Whisper made errors in about 1 percent of transcriptions, often producing ‘hallucinations’ — fabricated statements in response to silences during conversations. These inaccuracies were especially common in audio samples featuring patients with aphasia, a language disorder that results in frequent pauses. In one case, Whisper inserted phrases that were more typical of a YouTube video, such as “Thank you for watching!”
Nabla, aware of the issue, has stated it is working on solutions to mitigate these hallucinations. In response, OpenAI emphasised its commitment to reducing such errors, particularly in high-stakes situations like healthcare. An OpenAI spokesperson noted that Whisper’s usage policies discourage its application in critical decision-making contexts and that guidance for open-source use advises against deployment in high-risk domains.
The study’s findings underscore the complexities of applying AI tools in sensitive settings like healthcare, where precise communication is vital. With Whisper being used across 40 healthcare systems, the issue raises broader questions around the suitability of AI transcription tools in medical environments and the ongoing need for oversight in their deployment.
Google has extended its AI Overviews in Search to more than 100 countries and territories. Initially launched in the US in May, the feature provides summarised snapshots at the top of search results. It now serves over one billion users globally each month.
The expanded rollout introduces more language options, including English, Hindi, Indonesian, Japanese, Portuguese, and Spanish. Google aims to enhance the usability of the tool, offering new features like in-line links, which improve website traffic by embedding source links directly within the text.
AI Overviews are also playing a role in the company’s advertising strategy. Ads will now appear within the AI-generated summaries for mobile users in the US, marking a new direction for Google’s ad business by integrating advertising more seamlessly.
Despite some challenges at launch, including incorrect information that raised concerns, Google has made significant improvements. Fine-tuning efforts are ongoing, and the feature has also been introduced to Google Shopping, further expanding its presence across the platform.
Leaked details about Google’s upcoming Pixel 10 and Pixel 11 smartphones hint at significant upgrades powered by an advanced Tensor G5 chip, according to Android Authority. The Pixel 10, expected in late 2025, may introduce new AI-driven features, including ‘Video Generative ML’ for on-device video editing and a ‘Sketch-to-Image’ tool that turns hand-drawn sketches into fully rendered images. The chip could also allow users to run advanced AI models, like Stable Diffusion, locally through the Pixel’s image app.
A standout feature rumoured for the Pixel 11 is an ‘Ultra Low Light video’ mode that builds on Google’s Night Sight technology to improve video quality in dark settings. This feature could enable higher-quality low-light recording with better exposure control and image stabilisation, allowing clearer and more vibrant videos shot in near darkness.
Both devices are expected to support recording 4K HDR video at up to 60 frames per second, enhancing video quality. Google’s move to incorporate more powerful on-device AI tools, paired with upgraded hardware, points to a continued focus on image and video processing innovation, likely to appeal to users who prioritise smartphone photography and creative applications.
Nigerian fintech company Moniepoint has raised $110 million in new funding, backed by investors like Google, to expand digital payments and banking services across Africa. Since its 2015 inception as a payment infrastructure provider for banks, Moniepoint has grown to offer personal banking services, becoming a major player in Nigeria’s rapidly growing fintech market.
The funding round, supported by existing investors such as Development Partners International and Lightrock, and new entrants Google’s Africa Investment Fund and Verod Capital, values Moniepoint above $1 billion, marking its entry into “unicorn” status. The company plans to use the funds to develop an integrated business platform offering digital payments, banking, credit, and business management tools.
With a customer base in Nigeria‘s vast, underserved financial market, Moniepoint says it processes over 800 million transactions each month, valued at more than $17 billion. This new funding will help accelerate its mission to provide accessible financial solutions across Africa.
Intel is expected to report its largest revenue drop in five quarters, signalling a possible decline in its market position in data centres and personal computers. CEO Pat Gelsinger faces mounting pressure from shareholders to revive Intel’s status as a leading chipmaker, especially as rivals like AMD capitalise on the surging demand for AI-driven chips. Wall Street analysts anticipate an 8% revenue decline to $13.02 billion, highlighting the urgency for Intel to advance its manufacturing technology and regain competitiveness.
Despite recent moves, including job cuts and securing a chipmaking contract with Amazon, investors remain sceptical. Intel’s market value has fallen below $100 billion, and its stock is down over 50% this year. Calls are growing for Intel to spin off its struggling foundry business, which posted a significant operating loss of $2.55 billion due to high production costs. This manufacturing segment is often blamed for Intel’s weakened gross margins, which are expected to dip to 37.9%.
Intel’s struggles are compounded by a 17% decline in data centre revenue, the company’s 10th straight quarterly drop. Meanwhile, AMD has gained momentum, with its data centre revenue projected to double due to its AI-focused chips. With half of the analysts covering Intel lowering their revenue forecasts, expectations are already low, leaving investors hoping for a strategic turnaround in Intel’s business model.
Apple announced that its Apple Intelligence AI suite will be available in the European Union starting in April 2025, with localised language support to follow. The AI-powered feature set, which includes advanced tools such as Writing Tools, Genmoji, and a redesigned Siri with ChatGPT integration, has until now been limited to US English. The delay in the European rollout was previously attributed to compliance requirements under the EU’s Digital Markets Act (DMA), which applies to certain digital platforms to ensure competition and user privacy.
With iOS 18.1, Mac users in Europe can already access Apple Intelligence features by switching their language settings, while iPhone and iPad users must wait until next April. The release will come with support for a dozen languages throughout 2025, including French, German, Italian, and Spanish, broadening accessibility for EU users.
Apple’s phased rollout underscores the tech giant’s efforts to adapt its products to EU regulatory standards while maintaining a consistent experience for European users. Although some features, like notification summaries, may not be available initially, Apple has committed to bringing as many AI capabilities as possible to European devices in future updates.
India‘s Jio Payment Solutions, a wholly-owned subsidiary of Mukesh Ambani’s Reliance Group under Jio Financial Services, has received the Reserve Bank of India’s (RBI) approval to operate as an online payment aggregator. Effective from 28 October, the approval allows Jio Payment Solutions to facilitate a wide range of digital transactions, including credit and debit cards, bank transfers, e-wallets, and Unified Payments Interface (UPI) payments, among others. This step positions Jio Payment Solutions as a key player in India’s fast-growing digital payments market, where convenience and a broad array of transaction methods are in high demand.
As a payment aggregator, Jio Payment Solutions will act as an intermediary for businesses, allowing them to accept various forms of online payments from customers, streamlining financial transactions across multiple platforms. This role will enhance Jio Financial Services’ influence in the financial technology sector, as payment aggregators serve as essential infrastructure for online businesses, bridging the gap between consumers and businesses.
The approval highlights a new phase for Jio Financial, which was spun off from Reliance Group last year with ambitions to expand its reach in India’s financial services industry. As India’s digital economy grows, the entry of Jio Payment Solutions into the payment aggregator space could enhance accessibility to digital payments and strengthen Reliance’s financial arm in a market where online payment solutions are in increasing demand.
