Samsung is relaunching Bixby, its virtual assistant initially introduced in 2017. The new version will feature advanced AI capabilities, enhancing user interactions with generative AI powered by Samsung’s proprietary large language model. The announcement was confirmed by TM Roh, head of Samsung’s mobile division, who emphasised the improvements aimed at making Bixby a more natural conversational interface.
Samsung recently unveiled the Galaxy Z Fold 6 and Galaxy Z Flip 6, highlighting new AI tools designed to enhance the user experience. However, the upgraded Bixby was not mentioned during the latest Galaxy Unpacked event. Speculations suggest that the new Bixby may debut with the Galaxy S25 series early next year, though no specific timeline has been provided.
Reintroducing Bixby into a market dominated by Google Assistant, Amazon Alexa and Apple’s Siri is a significant challenge. Apple has also announced AI enhancements for Siri, intensifying the competition. Samsung aims to differentiate Bixby by seamlessly integrating it with its extensive product ecosystem, providing a unique user experience.
The timeline for Bixby’s AI upgrade remains unclear. Whether Samsung’s virtual assistant will reclaim its position among the top contenders in the market is uncertain. However, Samsung is determined to make a strong impact with its revitalised Bixby.
OpenAI’s AI safety leader, Aleksander Madry, is now working on a new significant research project, according to CEO Sam Altman. OpenAI executives Joaquin Quinonero Candela and Lilian Weng will take over the preparedness team, which evaluates the readiness of the company’s models for general AI. The move is part of a broader strategy to unify OpenAI’s safety efforts.
OpenAI’s preparedness team ensures the safety and readiness of its AI models. Following Madry’s shift to a new research role, he will have an expanded position within the research organization. OpenAI is also addressing safety concerns surrounding its advanced chatbots, which can engage in human-like conversations and generate multimedia content from text prompts.
Joaquin Quinonero Candela and Lilian Weng will lead the preparedness team as part of this strategic change. Researcher Tejal Patwardhan will manage much of the team’s work, ensuring the continued focus on AI safety. The reorganization follows the recent formation of a Safety and Security Committee, led by board members including Sam Altman.
The reshuffle comes amid rising safety concerns as OpenAI’s technologies become more powerful and widely used. The Safety and Security Committee was established earlier this year in preparation for training the next generation of AI models. These developments reflect OpenAI’s ongoing commitment to AI safety and responsible innovation.
Leaders of Fortune 500 companies developing AI applications face a potential nightmare: hackers tricking AI into revealing sensitive data. Zurich-based startup Lakera has raised $20 million to address this issue. The funding round, led by Atomico with participation from Citi Ventures and Dropbox Ventures, brings Lakera’s total funding to $30 million. Lakera’s platform, used by companies like Dropbox and Citi, allows businesses to set guardrails for generative AI, protecting against prompt injection attacks.
Lakera CEO David Haber highlighted the importance of safety and security as companies integrate generative AI into critical functions. Existing security teams encounter new challenges in securing these applications. Lakera’s platform, built on internal AI models, ensures that generative AI applications do not take unintended actions. Customers can specify the context and policies for AI responses, preventing the disclosure of sensitive information.
A unique advantage for Lakera is Gandalf, an online AI security game used by millions, including Microsoft. The game generates a real-time database of AI threats, keeping Lakera’s software updated with thousands of new attacks daily. That helps in maintaining robust security measures for their clients.
Lakera competes in the generative AI security landscape with startups like HackerOne and BugCrowd. Matt Carbonara of Citi Ventures praised Lakera’s focus on prompt injection attacks and its team’s capability to build the necessary countermeasures for new attack surfaces.
Coca-Cola is harnessing AI and digital innovations to boost sales and product volumes, even in the face of price hikes. In the second quarter, revenue rose 3% to $12.4 billion, exceeding analyst expectations. CEO James Quincey highlighted the company’s use of AI in enhancing marketing and pricing strategies, which has helped retain customers despite financial pressures.
Studio X, Coca-Cola’s digital ecosystem, played a crucial role in this success. It enabled the creation of targeted content and real-time measurement of its impact. A collaboration with Marvel, featuring limited-edition graphics and QR codes, provided unique augmented reality experiences, driving volume and value share for Classic Coca-Cola.
The company is also piloting an AI-based tool for optimising price packs across channels. This tool personalises messages to retailers, suggesting items based on previous orders and market data (SKU: Stock Keeping Unit). Early results show a 30% increase in purchases of recommended SKUs, boosting sales for both retailers and Coca-Cola.
Despite challenges in the consumer landscape, Coca-Cola remains optimistic. The company plans to counter a decline in away-from-home sales by offering more food and beverage combos. With an improved outlook for organic revenue growth, Coca-Cola is confident in its strategy and future prospects.
Ferrari announced on Wednesday that it will expand its cryptocurrency payment option for luxury sports cars to its European dealers starting at the end of this month. The Italian automaker introduced this payment method in the United States last year to cater to its wealthy clientele’s requests.
The company plans to extend this scheme to other international markets by the end of 2024, where cryptocurrencies are legally accepted. While many major companies have avoided cryptocurrencies due to their volatility, Ferrari’s move aims to meet its customers’ evolving needs.
In the US, Ferrari partnered with BitPay to facilitate bitcoin, ether, and USDC transactions, converting crypto payments into traditional currency to shield dealers from price fluctuations. Ferrari has not disclosed whether it will use the same payment processors in Europe or other regions.
Adobe has announced new AI-powered tools being added to their software, aimed at enhancing creative workflows. The latest Firefly Vector AI model, available in public beta, introduces features like Generative Shape Fill, allowing users to add detailed vectors to shapes through text prompts. The Text to Pattern beta feature and Style Reference have also been improved, enabling scalable vector patterns and outputs that mirror existing styles.
Illustrator’s update includes a Dimension tool for automatic sizing information, a Mockup feature for 3D product previews, and Retype for converting static text in images into editable text. Photoshop enhancements feature the Generate Image tool, now generally available on desktop and web apps, and the Enhance Detail feature for sharper, more detailed large images. The Selection Brush tool is also now generally available, making object selection easier.
“Our goal is to empower all creative professionals to realize their creative visions,” said Deepa Subramaniam, Adobe Creative Cloud’s vice president of product marketing. The company remains committed to using generative AI to support and enhance creative expression rather than replace it.
Negotiations for a global tax deal have extended beyond the 30 June deadline, with governments now looking to the Group of 20 (G20) finance leaders meeting this week for progress on the stalled plan. The ‘Pillar 1’ arrangement, part of the 2021 global two-part tax deal, aims to replace unilateral digital services taxes on tech giants like Google, Amazon, and Apple with a new mechanism to share taxing rights on a broader, global group of companies.
The stakes are high, as failure to reach an agreement could lead to several countries reinstating their taxes on the United States tech conglomerates, risking punitive duties on billions of dollars in exports to the US. Standstill agreements, under which Washington suspended threatened trade retaliation against seven countries, expired on 30 June. Despite this, the US has not yet imposed tariffs, and discussions are ongoing.
Canada recently became the eighth country to impose a unilateral digital services tax, emphasising the urgency for a global resolution. The US Treasury maintains that such taxes are discriminatory and continues to oppose measures targeting US businesses. The G20 meeting in Rio de Janeiro is seen as a critical juncture to finalise the international tax deal, with the European Union listing it as a top priority. As global leaders continue their discussions, there is a strong push to ensure a fair, risk-free, balanced tax system in the digital age.
Deloitte has formed a strategic collaboration with Amazon Web Services (AWS) to assist companies globally in enhancing their capabilities in generative artificial intelligence, data analytics, and quantum computing. The partnership includes the establishment of an Innovation Lab, with a focus on cutting-edge technologies like AI, quantum machine learning, and autonomous robotics. This lab aims to address industry-specific challenges and support companies in successfully transitioning proofs of concept into full production.
The Innovation Lab will facilitate collaboration between Deloitte and AWS engineers to develop solutions for diverse industries, encompassing financial services, healthcare, media, and energy. One of the initial projects, Deloitte’s C-Suite AI™ for CFOs, is designed to streamline financial functions using large language models. These models simplify workflows, generate investor documentation, and automate customer service. This tool is powered by NVIDIA and Amazon Bedrock to specifically aid the financial services sector.
Toyota Motors North America exemplifies a company benefiting from AWS machine learning and decision intelligence services to enhance their data ecosystem. Innovative solutions, such as dynamic pricing and parts forecasting, have been developed through their collaborative efforts with Deloitte. The partnership’s objective is to assist companies in transitioning from exploration to production of new technologies, addressing the inherent complexities and challenges involved.
Why does this matter?
Deloitte remains committed to supporting companies throughout their AI transformation journey. They offer tailored AI services and leverage their deep industry knowledge. The firm is currently training over 120,000 professionals worldwide in AI and investing more than £2 billion in technology learning and development initiatives. This extensive programme aims to boost skills in AI and other advanced technologies, ensuring greater client impact and improved productivity.
South Korean authorities have arrested Kim Beom-su, the billionaire founder of technology giant Kakao Corp, on allegations of stock manipulation. The charges relate to the acquisition of a K-Pop agency last year. Prosecutors claim Kim manipulated the stock price of SM Entertainment in order to hinder a competitor, Hybe, from acquiring it. Kim, also known as Brian Kim, denies the accusations and maintains he never ordered or tolerated any illegal activity.
Kakao Corp, which operates South Korea‘s largest messaging app, expressed regret over the situation. Chief Executive Shina Chung is leading efforts to manage the company during Kim’s absence. The Seoul Southern District Court approved the arrest warrant, citing potential evidence destruction and flight risk as reasons for detaining Kim. He is currently held at the Seoul Nambu Detention Centre for up to 20 days while prosecutors continue their investigation.
The case against Kim poses significant risks to Kakao’s future, potentially impacting investments in artificial intelligence and overseas expansion plans. Industry experts warn that regulatory scrutiny could complicate major business decisions. Kim is the largest shareholder of Kakao Corp, controlling a 24% stake, and any conviction could affect the company’s control over its online banking arm, KakaoBank Corp, due to financial crime restrictions.
Following the news of Kim’s arrest, Kakao Corp shares fell by 5.4%, marking their largest daily drop since December 2022. Affiliates Kakaopay and Kakao Games also hit record lows, dropping by 7.8% and 5.2% respectively, while Kakaobank shares fell by 3.8%. The ongoing legal troubles could further strain the company’s market performance and strategic initiatives.
LinkedIn is introducing AI-powered career advice and interactive games in an effort to encourage daily visits and drive growth. The Financial Times reported that this initiative is part of a broader overhaul aimed at increasing user engagement on the Microsoft-owned platform, which currently lags behind entertainment-focused social media sites like Facebook and TikTok.
With slowing revenue growth, analysts have suggested that LinkedIn must diversify its income streams beyond subscriptions and make the platform more engaging. Editor in Chief Daniel Roth emphasised the goal of building a daily habit for users to share knowledge, get information, and interact with content on the site. The efforts reflect LinkedIn’s push to enhance the user experience, such as unveiling AI-driven job hunting features and detecting fake accounts, as well as disabling targeted ads.
In June, LinkedIn recorded 1.5 million content interactions per minute, though it did not disclose site traffic or active user figures. Data from Similarweb showed that visits reached 1.8 billion in June, but the growth rate has slowed significantly since early 2024. For continued growth, media analyst Kelsey Chickering noted that LinkedIn needs to become ‘stickier’ and offer more than just job listings and applications.
Moreover, LinkedIn is becoming a significant platform for consumer engagement, with companies like Amazon and Nike attracting millions of followers. The platform’s fastest-growing demographic is Generation Z, many of whom shop via social media. The trend highlights LinkedIn’s potential as a robust avenue for retailers to reach a sophisticated and influential audience.
