Klaxon AI, a start-up based in Peterborough, has received £50,000 in funding from the UK’s innovation agency, Innovate UK, to develop a new tool that allows small businesses to create computer-generated podcast adverts. The new system, expected to launch in January, will enable companies to produce 30-second podcast ads in just a few minutes, providing a cost-effective alternative to traditional advertising methods.
Co-founder Arup Biswas expressed excitement over the funding, noting that the tool will be ‘incredibly cheap’ and accessible to small businesses that typically cannot afford podcast advertising. The system will allow users to input a few words about their business or provide specific text, with AI generating the audio advert.
The service will cost about £50 for businesses to download their ad, or they can opt to use it for free on Klaxon AI’s network of podcasts. The funding is part of a broader £30 million investment by Innovate UK in high-potential businesses within the creative sector.
After a four-year absence, Fortnite is once again available on iPhones across the European Union, thanks to new regulations under the EU’s Digital Markets Act. This development comes as Epic Games, the US based creator of Fortnite, has finally overcome legal challenges that led to the game’s removal from Apple’s App Store in 2020. At the time, the game was banned due to a dispute over in-app payment commissions, which led to a series of lawsuits against Apple and Google.
With the new law in place, Epic Games can relaunch Fortnite on iPhones within the EU, although Apple continues to block access outside Europe. Epic’s CEO, Tim Sweeney, expressed gratitude towards the European Commission for enforcing the regulations, ensuring that tech giants couldn’t hinder competition in the digital market. Alongside Fortnite, Epic’s mobile game store is also launching with other popular titles like Rocket League Sideswipe and Fall Guys.
Globally, Fortnite has also reappeared on Android devices, further expanding its reach. The company aims to add 100 million new mobile users by the end of the year, with plans to collaborate with other developers to offer a broader range of games through independent mobile stores such as AltStore.
This relaunch marks a significant victory for Epic Games, which had 75 million monthly active users in its PC store, now setting its sights on a massive mobile expansion. The return of Fortnite, particularly on iPhones in the EU, is likely to reignite the game’s popularity and player base.
Google has unveiled its latest lineup of Pixel smartphones, marking a significant shift towards deeper integration of artificial intelligence in its hardware. Unlike previous years, the company chose to announce the new models in the summer, positioning itself ahead of competitors as it races to incorporate AI technology across its products.
The new Pixel devices feature innovative AI-powered tools, including a unique function that allows users to search for information within screenshots. Additionally, Google’s chatbot, Gemini, can now be accessed as an overlay on other apps, offering assistance and generating content. The launch event, held at Alphabet’s Bay View campus, showcased these advancements, with Google’s senior vice president of devices and services, Rick Osterloh, emphasising the company’s commitment to practical AI applications.
With AI taking centre stage, Google’s event impressed industry experts, with some noting it as one of the most comprehensive presentations the company has ever held. This early release strategy comes as Google aims to stay ahead of its rivals, particularly Apple, which is expected to launch new AI features in its products later this year.
The Pixel 9 series includes several models, with the base version priced at $799, $100 more than its predecessor. The devices will start shipping in August, with the Pixel 9 Pro and Pixel 9 Pro Fold set for release in September, further highlighting Google’s push to lead in the AI-driven smartphone market.
Google’s dominance in the search engine market faces growing challenges from AI advancements, particularly from OpenAI, while also dealing with ongoing antitrust scrutiny. A recent US ruling deemed Google’s search monopoly illegal, marking a significant victory for regulators. However, experts argue that the real threat to Google is the rapid adoption of AI tools like OpenAI’s ChatGPT, reshaping how people search the internet.
Despite Google’s long-standing control of around 90% of the global search market, the rise of AI-powered search alternatives is beginning to erode its position. Former Google engineers and industry analysts believe AI’s impact will be felt much sooner than the effects of antitrust rulings, which often take years.
Historically, Apple has partnered with Google for search services, but it is now exploring AI-driven alternatives. The tech giant has announced a non-exclusive partnership with OpenAI to integrate ChatGPT into its devices, signalling a shift from Google’s search dominance.
OpenAI’s move into the search market with its AI-powered SearchGPT further intensifies the competition. Some analysts predict that AI’s influence on search could outpace regulatory actions, potentially dismantling Google’s monopoly.
Why does it matter?
Although Google has the resources to lead in AI development, its response could have been faster than that of competitors like OpenAI’s swift rise. Google’s initial missteps with AI-powered search features, which were criticised for inaccuracies and errors, have raised concerns about the company’s ability to maintain trust with users.
Analysts suggest that while antitrust actions may not immediately weaken Google’s position, they could pave the way for increased competition in the search market. However, breaking Google’s dominance will be challenging, and whether these developments will lead to significant changes in consumer choice remains to be seen.
The Bangko Sentral ng Pilipinas (BSP) has announced that it will lift the moratorium on new digital banking licenses starting January 1, 2025, allowing four more digital banks to operate in the country. The move comes as the BSP seeks to tap the potential of digital banks to enhance the Philippine financial system while ensuring that risks are effectively managed. Since the introduction of the Digital Banking Framework in December 2020, six digital banks have already begun operations in the Philippines, and the upcoming licenses will accommodate both new banks and conversions.
BSP Governor Eli Remolona Jr. emphasised that the central bank will closely monitor the digital banking sector as it evolves, particularly assessing the impact of new players on the banking system. The application process for these new licenses will be stringent, focusing on applicants’ value propositions, business models, and resource capabilities. Applicants must meet standard licensing criteria, including transparency of ownership, suitable shareholder composition, and strong governance and risk management frameworks.
The BSP is particularly interested in applicants who can bring innovative products and services that differentiate them from existing market players. The central bank expects these new digital banks to reach broader clientele, especially those in untapped or underserved market segments. The decision to allow more digital banks aligns with the BSP’s goals of promoting financial system stability, advancing financial inclusion, and driving digital transformation.
This development follows the BSP’s previous decision to cap digital bank licenses at six and temporarily close the application window in August 2021. The central bank has also been involved in approving a stablecoin pilot programme as part of its broader efforts to enhance the digital landscape within a regulated framework.
Apple has introduced its new AI-powered Writing Tools in the iOS 18.1 developer beta, providing users with the ability to reformat or rewrite text using Apple’s AI models. However, the tool warns that AI-generated suggestions might not be of the highest quality when dealing with certain sensitive topics. Users will see a message alerting them when attempting to rewrite text containing swear words, references to drugs, or mentions of violence, indicating the tool wasn’t designed for such content.
Despite the warnings, the AI tool still offers suggestions even when encountering restricted words or phrases. During testing, replacing a swear word with a milder term resulted in the same AI-generated suggestion. Apple has been asked to clarify which specific topics the writing tools are not trained to handle, but no further details have been provided yet.
Apple appears to be exercising caution to avoid controversy by limiting the AI’s handling of certain terms and topics. The Writing Tools feature is not intended to generate new content from scratch but rather to assist in rewriting existing text. Apple’s cautious approach aligns with its history, as seen when it finally allowed autocorrect to learn swear words in iOS 17 after years of restrictions.
The release of these AI features also coincides with Apple’s alignment with OpenAI for future AI innovations and its support for the Biden administration’s AI safety initiatives. These steps underscore Apple’s commitment to responsible AI development while providing advanced tools to its users.
Once a leader in the computer chip industry, Intel, has faced significant challenges adapting to the AI era. Seven years ago, Intel had an opportunity to invest in OpenAI, a then-emerging non-profit focused on generative AI. Discussions between the two companies explored various investment options, including a $1 billion stake and hardware manufacturing deals, but Intel ultimately decided against it.
CEO Bob Swan doubted the near-term market viability of generative AI models, leading to the decision not to invest. OpenAI sought the investment to reduce reliance on Nvidia chips and develop its own infrastructure, but Intel’s data centre unit was unwilling to produce hardware at cost. Since then, OpenAI has launched ChatGPT and achieved a valuation of around $80 billion, marking a significant missed opportunity for Intel.
The decision was part of a series of strategic missteps that saw Intel fall behind in the AI chip market. The company’s stock recently plummeted, marking its worst trading day since 1974 and valuing it at under $100 billion for the first time in three decades. In contrast, rivals like Nvidia and AMD have surged ahead, capturing significant market share with AI-optimised GPU technology.
Despite recent efforts to catch up, such as developing the Gaudi AI chip and acquiring startups like Nervana Systems and Habana Labs, Intel still lags behind competitors. The company’s previous focus on CPUs over GPUs, which are better suited for AI tasks, has left it struggling to compete in the rapidly growing AI market.
An upgraded version of the Titan Image Generator has been introduced by Amazon, now available to AWS customers through the Bedrock generative AI platform. Titan Image Generator v2 offers enhanced capabilities, allowing users to guide image creation using reference images, edit existing visuals, remove backgrounds, and generate variations.
The new model can intelligently detect and segment multiple foreground objects. Users can now generate images based on a colour palette and shape their creations using the image conditioning feature. This model supports image conditioning by focusing on specific visual characteristics such as edges, object outlines, and structural elements. Fine-tuning with reference images, like a product or company logo, ensures consistency in the generated images.
AWS remains vague about the data used to train Titan Image Generator models, citing a mix of proprietary and licensed data. Many vendors keep training data details secret due to competitive and legal concerns. AWS offers an indemnification policy to cover customers in case of any copyrighted content being unintentionally reproduced by the model.
Amazon CEO Andy Jassy expressed strong confidence in generative AI technology, despite increasing costs and enterprise hesitation. He highlighted the rapid growth potential of generative AI, emphasising its future development primarily in the cloud.
An up-and-coming startup company from Poland has secured over 2 million Polish zloty (464 thousand euros) in investment from AIP Seed and co-investor Marcin Zukowski. The funding will support Revoize’s mission to enhance real-time online communication by improving audio quality using Generative AI.
Founded by Stanisław Andrzej Raczyński, Revoize’s technology transforms poor-quality recordings into professional, studio-quality audio, making remote interactions as effective as face-to-face meetings. The platform supports all valid audio formats and processes files at a 44.1 kHz sampling rate. Currently available as a free beta offering 60 minutes of audio enhancement per month, Revoize is also working on developing an API.
AIP Seed, which invests in early seed and pre-seed stages, offers up to €200K alongside co-investors, focusing on startups in Central and Eastern Europe. The firm provides comprehensive support through eight Competence Hubs, addressing critical areas such as marketing, AI, finance, and legal guidance. As AI startups face financial constraints and merge with tech giants like Microsoft and Amazon, innovations in Generative AI, such as Meta’s Audiocraft for audio and music creation, continue to emerge.
Chinese internet technology company ByteDance has launched an AI video app named Jimeng AI, developed by its subsidiary Faceu Technology. Move like this one places ByteDance in direct competition with other Chinese tech firms and OpenAI, known for its ChatGPT model. The app, available on Apple’s App Store in China, was released on Android on 31 July.
Since the introduction of OpenAI’s Sora text-to-video model in February, several Chinese companies have developed similar tools. Kuaishou recently launched its Kling AI model globally, requiring only an email for registration. Additionally, Chinese AI startup Zhipu AI released its Ying model, followed closely by another startup, Shengshu, with its Vidu app.
Jimeng AI, operated under ByteDance’s Jianying business known for its CapCut app, offers users the ability to create AI-generated videos based on text prompts. Subscriptions are priced at 69 yuan monthly, 79 yuan for a single month, or 659 yuan annually, providing users with up to 168 AI videos per month.
This latest development signifies ByteDance’s commitment to expanding its AI capabilities and competing in the burgeoning text-to-video market. With the increasing interest in AI video generation, more companies are expected to introduce similar models to capture a share of this innovative market.
