The surge in AI exchange-traded funds (ETFs) reflects the growing investor enthusiasm for AI as fund managers launch new options to capture market interest. According to Morningstar, over a third of the AI-focused ETFs on the market were introduced in 2024, raising total assets in this category to $4.5 billion—close to the $5.5 billion held by nuclear-themed ETFs and far outpacing the $1.37 billion in cannabis funds. This growth is partially driven by high-profile gains, like chipmaker Nvidia’s stock surge of over 200% in the last year, which underscores AI’s profit potential, said Morningstar senior analyst Daniel Sotiroff.
BlackRock has added two new actively managed AI ETFs to its lineup, aiming to capture emerging opportunities in AI as the technology evolves. “The AI market is going to change dramatically,” noted Tony Kim of BlackRock, highlighting that what AI represents today will continue to shift. Bank of America analysts agree, describing the competition in AI among tech giants like Microsoft and Amazon as an “arms race.” This year, capital spending on AI by these firms is expected to total $206 billion, marking a 40% increase over last year, while venture capital funding for AI startups is projected to rise 27%, reaching $79.2 billion.
Despite the enthusiasm, AI-focused funds haven’t consistently outperformed the broader market; for instance, the Global X Artificial Intelligence & Technology ETF has gained about 20% in 2024, trailing the S&P 500’s 22% rise. Amplify ETFs recently shifted an existing cloud-computing ETF to focus on AI opportunities, illustrating the industry’s shift toward differentiating AI investment strategies. Nathan Miller of Amplify said that capturing the potential of AI-related capital spending remains a priority for long-term growth.
Meta has launched NotebookLlama, an ‘open’ version of Google’s NotebookLM generate-a-podcast tool, but using Meta’s Llama AI models. NotebookLlama processes uploaded text files, such as PDFs or blog posts, creating a podcast-style summary with dramatisation and interruptions, followed by conversion to speech through open text-to-speech models. However, early feedback highlights a robotic, less natural sound, with voices sometimes overlapping awkwardly.
Meta’s researchers acknowledge the audio limitations and suggest that quality could improve with better text-to-speech models. They also propose evolving the format to feature two AI agents debating topics rather than a single model handling the outline.
Despite various efforts to replicate NotebookLM’s podcast capabilities, all still struggle with AI ‘hallucinations,’ making the generated content prone to inaccuracies.
Google is working on a new AI technology that can take control of web browsers to perform tasks like research and online shopping, according to a report by The Information. The project, code-named ‘Project Jarvis,’ is expected to be showcased in December alongside Google’s upcoming Gemini large language model.
This initiative is part of a growing trend, with competitors like Microsoft-backed OpenAI also aiming to develop AI agents capable of navigating the web autonomously. Unlike current AI models, Google’s new software is designed to interact directly with a person’s computer or browser, potentially handling complex tasks more seamlessly.
The development reflects a broader industry push to create AI systems that can perform internet-based tasks independently, potentially transforming how users interact with technology. Google has not yet commented on the report, but the anticipated December demonstration could offer a glimpse into the future of automated online assistance.
CelcomDigi and AmBank have formed a strategic partnership to revolutionise digital healthcare in Malaysia through a newly signed Memorandum of Understanding (MoU). That collaboration will deliver affordable digital healthcare solutions over the next three years, empowering healthcare providers with advanced tools and services that leverage AI to enhance patient care and healthcare delivery.
Under this partnership, CelcomDigi will provide essential connectivity, while AmBank will offer financial services such as specialised medical financing, loans, insurance, and payment solutions, making these innovations more accessible to healthcare institutions. The initiative will introduce various solutions, including Smart Health Kiosks for monitoring vital health metrics and Medi-Scan technology, which utilises AI for biometric assessments. The focus is particularly on improving healthcare access in underserved areas, addressing the historical limitations of quality healthcare in these regions.
The commitment to enhancing healthcare accessibility for all Malaysians aligns with the initiatives of the Malaysian Communications and Multimedia Commission to elevate the country’s healthcare system to a global standard. Integrating telecommunications and digital infrastructure is deemed essential to achieve this goal. Together, the organisations aim to create a more connected and inclusive healthcare ecosystem that supports predictive, preventive, and precision treatments, ultimately improving clinical outcomes for patients.
The United States, Japan, and South Korea collaborate to strengthen digital infrastructure development in India through the recently announced Digital Infrastructure Growth Initiative for India Framework, known as the DiGi Framework. The significant partnership seeks to leverage the strengths of three influential nations, with key financial support from the US International Development Finance Corporation (DFC), the Japan Bank for International Cooperation (JBIC), and the Export-Import Bank of Korea (Korea Eximbank).
The primary objective of the DiGi Framework is to promote private sector investments in India’s digital infrastructure by addressing the strategic needs of various projects. Targeted sectors include multiple technologies and services, such as information and communications technologies (ICT), Open RAN, 5G telecommunications, submarine cables, optical fibre networks, telecom towers, data centres, smart cities, e-commerce, AI, and quantum technology.
Additionally, the initiative aims to foster meaningful dialogues between the Indian government and the private sector to promote funding for digital infrastructure projects. The collaborative effort builds upon an earlier agreement signed in August 2023, emphasising the importance of coordination and cooperation among like-minded countries to support private sector investment in infrastructure.
By enhancing collaboration and communication, the DiGi Framework aims to create an environment conducive to investment and innovation within India’s digital landscape. That initiative signifies a strong commitment to enhancing India’s digital infrastructure, positioning the country for sustainable growth and technological advancement in an increasingly digital world.
Why does it matter?
With the support of these three nations, the framework represents a strategic move to strengthen India’s technological capabilities and improve connectivity, ultimately benefiting its economic development and resilience in the face of future challenges.
The Biden administration announced on Monday new rules restricting US investments in specific technology sectors in China, including AI, semiconductors, and quantum computing, citing national security concerns. These rules, effective from 2 January, aim to prevent US capital and expertise from aiding China’s development of military and intelligence capabilities. Issued under an executive order from August 2023, the regulations will be managed by the Treasury’s new Office of Global Transactions.
The targeted technologies are considered crucial to future military and cyber defence. Treasury officials note that US investments often include more than money—managerial support, network access, and intellectual expertise—that could benefit Chinese advancements in sensitive sectors. A senior Treasury official, Paul Rosen, emphasised that these restrictions curb potential US involvement in developing cutting-edge technologies for adversarial nations.
The US Commerce Secretary Gina Raimondo has previously highlighted the importance of these measures, viewing them as essential to slowing China’s progress in military technologies. The new regulations allow for investments in publicly traded Chinese securities; however, existing rules still restrict transactions involving certain Chinese firms deemed to support military development.
Additionally, the rules respond to recent criticism from the House Select Committee on China, which has scrutinised American index providers for funnelling US investments into Chinese companies linked to military advancements. With these regulations, the administration underscores its intent to protect US interests by limiting China’s access to critical technology expertise and capital.
President Biden signed a landmark national security memorandum to strengthen how AI is employed across defence and intelligence operations. The directive outlines strict protections on AI use, preventing autonomous systems from making high-stakes decisions like nuclear launches and immigration rulings. Jake Sullivan, the national security adviser, highlighted the need for the US to maintain its competitive edge in AI to safeguard national security.
‘Few technologies will be as critical to our future security as AI,’ Sullivan said at the National Defense University in Washington. He underscored the administration’s aim to roll out AI protections faster than other global powers and underscored a balance between open market competition and secure innovation.
The memorandum also directs federal agencies to bolster the security and diversity of chip supply chains and prioritise gathering intelligence on foreign AI operations targeting the US sector. These insights will support AI developers in protecting their products from adversarial threats.
However, with many recommendations set to take effect post-2025, it’s uncertain if the next administration will uphold these regulations. Experts emphasise that while AI is kept out of nuclear launch decisions, it still influences the data presidents receive, raising questions about reliance on AI for critical decision-making.
In the meantime, the administration will convene a global safety summit in San Francisco next month to address AI risks and foster international cooperation. This move adds to Biden’s executive order from last year, which aimed to limit AI’s risks to consumers, workers, and minority groups.
The International Telecommunication Union (ITU) will prioritise new global standards for AI and digital public infrastructure (DPI), with the aim of fostering interoperability, trust, and inclusivity. The resolution, adopted at the World Telecommunication Standardisation Assembly (WTSA) held in Delhi, was led by India, which has promoted DPI platforms such as Aadhaar and UPI. This adoption underscores DPI’s importance as a technology that can bridge access to essential services across both public and private sectors, sparking particular interest from developing economies.
This year’s WTSA, attended by a record-breaking 3,700 delegates, also introduced standardisation frameworks for sustainable digital transformation, AI, and the metaverse, as well as enhancements to communications in vehicular technology and emergency services. These efforts aim to facilitate safer, more reliable AI innovations, particularly for nations lacking frameworks for emerging technologies. ITU Secretary General Doreen Bogdan-Martin emphasised that strong AI standards are essential for building global trust and enabling responsible tech growth.
India’s influence at WTSA highlights its commitment to shaping the global tech landscape, including standards for next-generation technologies like 6G, IoT, and satellite communications. To that end, the assembly also introduced study group (ITU-T Study Group 21), focusing on multimedia and content delivery standards.
Meta Platforms announced a new partnership with Reuters on Friday, allowing its AI chatbot to give users real-time answers about news and current events using Reuters content. The agreement marks Meta’s return to licensed news distribution after scaling back on news content due to ongoing disputes over misinformation and revenue sharing with regulators and publishers. The financial specifics of the deal remain undisclosed, as Meta and Reuters-parent Thomson Reuters have chosen to keep the terms confidential.
Meta’s AI chatbot, available on platforms like Facebook, WhatsApp, and Instagram, will now offer users summaries and links to Reuters articles when they ask news-related questions. Although Meta hasn’t clarified if Reuters content will be used to train its language models further, the company assures that Reuters will be compensated under a multi-year agreement, as reported by Axios.
Reuters, known for its fact-based journalism, confirmed its licensed content to multiple tech providers for AI usage without detailing specific deals.
Why does it matter?
The partnership reflects a growing trend in tech, with companies like OpenAI and Perplexity also forming agreements with media outlets to enhance their AI responses with verified information from trusted news sources. Reuters has already collaborated with Meta on fact-checking initiatives, a partnership that began in 2020. This latest agreement aims to improve the reliability of Meta AI’s responses to real-time questions, potentially addressing ongoing concerns around misinformation and helping to balance the distribution of accurate, trustworthy news on social media platforms.
A radio station in Krakow, Poland, has ignited controversy by replacing its human journalists with AI-generated presenters, marking what it claims to be ‘the first experiment in Poland.’ OFF Radio Krakow relaunched this week after laying off its staff, introducing virtual avatars aimed at engaging younger audiences on cultural, social, and LGBTQ+ topics.
The move has faced significant backlash, particularly from former journalist Mateusz Demski, who penned an open letter warning that this shift could set a dangerous precedent for job losses in the media and creative sectors. His petition against the change quickly gathered over 15,000 signatures, highlighting widespread public concern about the implications of using AI in broadcasting.
Station head Marcin Pulit defended the layoffs, stating that they were due to the station’s low listenership rather than the introduction of AI. However, Deputy Prime Minister Krzysztof Gawkowski called for regulations on AI usage, emphasising the need to establish boundaries for its application in media.
On its first day back on air, the station featured an AI-generated interview with the late Polish poet Wisława Szymborska. Michał Rusinek, president of the Wisława Szymborska Foundation, expressed support for the project, suggesting that the poet would have found the use of her name in this context humorous. As OFF Radio Krakow ventures into this new territory, discussions around the role of AI in journalism and its effects on employment are intensifying.
