Former US President Donald Trump, who once called cryptocurrency a ‘scam,’ is now headlining the Bitcoin 2024 convention in Nashville. He will speak on the final day of the three-day event, joining other prominent figures such as Republican former candidate Vivek Ramaswamy, Senator Bill Hagerty, and Senator Cynthia Lummis. The convention also includes Democratic Representative Ro Khanna of California.
The cryptocurrency industry is bouncing back after significant setbacks in 2022, including the collapse of FTX. Proponents argue that crypto users are becoming a significant political force, with the Republican Party courting their votes by promising lighter regulation. The shift has seen major pro-crypto political action committees raise over $230 million to support favourable candidates.
Trump’s appearance at the convention marks a notable shift in his stance on crypto. He has recently criticised Democratic regulatory efforts and expressed support for increased bitcoin mining in the US. That support has been well-received by the crypto industry, which has faced increased scrutiny from the Biden administration. As the crypto community rallies around supportive politicians, Trump’s new embrace of the industry is seen as a strategic move to align with emerging political forces.
Google Cloud announced Wednesday that their AI service (Vertex) will use Mistral AI’s Codestral AI model, as the Google Cloud team explained.
“Today, we’re announcing that Google Cloud is the first hyper scaler to introduce Codestral – Mistral AI’s first open-weight generative AI model explicitly designed for code generation tasks — as a fully managed service.”, the company emphasised.
Mistral AI is a Paris-based startup firm founded in 2023 by former Google Deep Mind and Meta AI scientists. The partnership shows the quick growth of Mistral AI, considered the European alternative to Microsoft-backed OpenAI by many analysts.
Microsoft previewed Bing’s generative search, which is the answer to Google’s AI-powered search experiences. It is currently only available for a small percentage of users. It aggregates information from around the web and generates a summary in response to search queries.
Bing generative search will show information about the search and provide top examples, links, and sources showing where those details came from. As with Google’s similar AI Overviews feature, there’s an option to dismiss AI-generated summaries for traditional search from the same results page.
These AI-generated overview features have already generated concern, especially among publishers, as they threaten to cannibalise traffic to the sites from which they source their information. A study found that AI Overviews could negatively affect about 25% of publisher traffic due to the de-emphasis on article links.
Microsoft insists that it’s ‘maintaining the number of clicks to websites’ and ‘look[ing] closely at how generative search impacts traffic to publishers.’ According to Kyle Wiggers, senior reporter at TechCrunch, the company had no stats to back this commitment, alluding only to ‘early data’ that it’s choosing to keep private for the time being.
A consortium of universities, technology accelerators, and private research labs, funded by the EU’s Horizon Europe program, has launched RoboSAPIENS, a project aimed at enhancing the adaptability and trustworthiness of industrial robots. According to the International Federation of Robotics (IFR), industrial robot installations in Europe increased by 24% in 2021, reaching 84,302 units. The new project seeks to ensure these robots can efficiently adapt to changing environments while maintaining safe collaboration with humans.
The RoboSAPIENS consortium aims to advance robotic self-adaptation, empowering robots to dynamically respond to unforeseen changes in system structure or environment. The initiative focuses on developing control software for open-ended self-adaptation, improving safety engineering techniques, and utilising deep learning to reduce task uncertainty. This approach is designed to ensure that robots can reliably and reproducibly adapt to new tasks without the need for reprogramming.
Project coordinator Peter Gorm Larsen emphasised the importance of safety and trustworthiness in industrial robotics as Europe advances its capabilities. The project will build on the Monitor-Analyze-Plan-Execute-Knowledge (MAPE-K) framework to include adaptive controllers, incorporating deep learning and digital twin simulation techniques. RoboSAPIENS is currently conducting industrial use studies with manufacturing and logistics companies to test its adaptive controllers in real-world scenarios.
Why does this matter?
The launch of RoboSAPIENS comes amid broader efforts by the European Commission to promote human-centric AI, as seen with the introduction of the InTouchAI.eu initiative. At the same time, AI experts express concerns about granting legal status to robots, highlighting the need for careful consideration of AI’s role in society. RoboSAPIENS aims to strike a balance between innovation and safety, ensuring that industrial robots can adapt effectively while maintaining reliable and trustworthy operations.
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.
Elon Musk has revealed that Tesla will start using humanoid robots next year. These robots will initially serve Tesla internally, with plans to begin sales by 2026. However, announcement aligns with Musk’s broader strategy to cut costs amid decreasing demand for Tesla vehicles.
Tesla’s recent financial update reported a significant drop in profits for the second quarter, from $2.7bn to less than $1.5bn. Despite various price cuts, automotive revenue decreased by 7% year-on-year, though a rise in the energy storage business led to a modest 2% increase in overall revenue. Consequently, Tesla’s shares fell by almost 8% in after-hours trading.
Musk has been increasingly focusing on advanced technologies such as AI and autonomous driving. He announced that the Optimus robot would be ready for internal use at Tesla by the end of this year, with mass production expected by 2026. Optimus is designed to perform tasks that are unsafe, repetitive, or boring for humans.
Mr Musk’s ambitious timelines have often been missed, including previous predictions about self-driving taxis. Tesla remains committed to developing robo-taxis, but their launch depends on regulatory approval. Other companies like Honda and Boston Dynamics are also developing humanoid robots, highlighting the competitive nature of this emerging field.
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.
Elon Musk has launched a poll on social media platform X, asking if Tesla should invest $5 billion in his AI startup, xAI. Early votes show strong support, with 70% in favour. Musk emphasised that board approval and a shareholder vote are necessary before proceeding. This comes after Tesla reported its lowest profit margin in five years due to price cuts and increased AI project spending.
During Tesla’s earnings call, Musk highlighted xAI’s potential to enhance Tesla’s full self-driving capabilities and data centre infrastructure. He also mentioned opportunities for integrating xAI’s chatbot, Grok, with Tesla’s software. The poll, posted for nearly three hours, saw participation from approximately 386,000 users. Tesla and xAI have not yet commented on the poll results.
Should Tesla invest $5B into @xAI, assuming the valuation is set by several credible outside investors?
(Board approval & shareholder vote are needed, so this is just to test the waters)
Musk launched xAI last year as an alternative to ChatGPT, securing $6 billion in series B funding and reaching a post-money valuation of $24 billion. Major backers include Andreessen Horowitz and Sequoia Capital. Musk plans for a quarter of xAI to be owned by investors in X, which he purchased for $44 billion.
On the earnings call, Musk dismissed concerns about diverting resources from Tesla to his other ventures. He previously ordered Nvidia to ship thousands of AI chips to xAI and X due to Tesla’s data centre being at full capacity. Musk has a history of using polls to gauge public opinion, including a 2021 poll on selling 10% of his Tesla stake.
Samsung’s high bandwidth memory chips HBM3 have been approved by Nvidia for use in its AI processors, specifically for the H20 chip developed for the Chinese market, in compliance with the US export controls. Samsung may begin supplying these chips to Nvidia starting in August.
Despite Samsung being one of the world’s largest memory chip manufacturers, it still needed help to get Nvidia to certify its HBM chips. It is still being determined if Nvidia will use Samsung’s HBM3 chips in its other AI processors or if further testing is required. Meanwhile, Samsung’s fifth-generation HBM3E chips are still being tested to meet Nvidia’s standards.
Why does it matter?
AI chips require large amounts of high-speed memory, and HBM is a type of dynamic random access memory (DRAM) with a uniquely stacked memory chip design, which provides the necessary speed and capacity. Although HBM was introduced in 2013, its demand has risen drastically with the AI boom in recent years. Currently, only Micron, Samsung, SK Hynix manufacture HBM chips, and Nvidia have already certified HBM3 chips from Micron and SK Hynix, but there remains a shortage. Thus, Nvidia’s decision to approve Samsung’s HBM3 chips enables Nvidia to expand its supply chain and meet the deficit demand.
