Gcore has raised $60 million in Series A funding from investors including Wargaming, Constructor Capital, and Han River Partners. That marks Gcore’s first external capital raise in over a decade. The funds will be invested in Gcore’s AI technology and platform, utilising NVIDIA GPUs to drive AI innovations. The move highlights Gcore’s commitment to enhancing cloud resource efficiency and data sovereignty.
The company’s extensive network and cloud capabilities have made it a trusted partner for public organisations, telcos, and global corporations. Gcore’s infrastructure supports a wide range of industries, including media, gaming, technology, financial services, and retail. Its global network of over 180 edge nodes spans six continents, powering the training and inference of large language models.
Investors have expressed strong support for Gcore’s mission. Wargaming’s Sean Lee praised Gcore’s decade-long partnership, while Constructor Capital’s Matthias Winter highlighted the company’s comprehensive edge solutions and low latency. Han River Partners’ Christopher Koh noted Gcore’s strategic position in emerging AI markets, particularly in the APAC region.
CEO Andre Reitenbach emphasised the transformative potential of AI for businesses. Gcore aims to connect the world to AI with innovative cloud and edge solutions. The investment underscores the growing demand for AI infrastructure and Gcore’s role in meeting this need, supported by its robust network and advanced AI servers.
Europol’s latest report predicts a surge in AI-assisted cybercrimes across the EU. The ‘Internet Organised Crime Threat Assessment 2024’ highlights how AI tools are enabling non-technical individuals to execute complex online crimes. These tools, such as deep fakes and false advertisements, are making it easier for bad actors to engage in cybercrime.
The agency stresses the need for law enforcement to enhance their capabilities to counter these threats. Europol’s Executive Director, Catherine De Bolle, emphasises the importance of building robust human and technical resources. Future advancements in deepfake technology could lead to severe cases of sexual extortion, requiring sophisticated detection tools.
🚨In 2023, millions of victims across the EU were attacked and exploited online on a daily basis.
📍Today, Europol published the Internet Organised Crime Threat Assessment (IOCTA) on:
🔴Key developments, changes & emerging threats in cybercrime.
Concerns also extend to the cryptocurrency ecosystem. Europol’s report flags the potential for increased fraud involving non-fungible tokens (NFTs) and Bitcoin exchange-traded funds (ETFs). As more people adopt these financial instruments, those without extensive cryptocurrency knowledge may become prime targets for scammers.
Recently, Europol seized €44.2 million in cryptocurrency assets from ChipMixer, linked to money laundering. This operation underscores the growing challenges law enforcement faces in combating sophisticated financial crimes facilitated by emerging technologies.
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.
Grundon Waste Management is investing £750,000 in AI technology over three years to enhance driver safety. The company will implement Samsara’s Connected Operations Platform across its fleet of over 300 vehicles, following successful trials at two depots. The trials showed a 71% reduction in detected events and increased fuel efficiency, encouraging optimal driving habits.
Grundon expects to save around £220,000 annually in fuel costs once the technology is fully deployed. Chris Double, Regional Operations Manager, noted positive feedback from drivers during the trials. The AI Dash Cams, which provide instant feedback and acknowledge good performance, have been well-received.
The technology includes Dual-Facing AI Dash Cams and other cameras that monitor driver activity and connect to existing 360-degree cameras. Drivers can also use the Samsara App to track their behaviour through a points-based system. The system aims to improve safe driving habits and encourage good behaviour.
Philip van der Wilt, SVP and General Manager EMEA at Samsara, highlighted the measurable impact of the technology during the trials. He looks forward to a long-term partnership with Grundon to continue driving innovation and safety in their operations.
Lakshmi Raman, the Director of AI at the CIA, has had a remarkable journey within the intelligence community. Starting as a software developer in 2002, Raman rose through the ranks to lead the CIA‘s enterprise data science efforts. She credits her success to the presence of women role models at the agency, which has historically been male-dominated.
The CIA’s proactive approach to AI, along with NSA’s focus on AI advancements, reflects the security agencies’ efforts to utilise AI as a tool to increase their effectiveness and support their mission.
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.
A report from the Internet Watch Foundation (IWF) has exposed a disturbing misuse of AI to generate deepfake child sexual abuse images based on real victims. While the tools used to create these images remain legal in the UK, the images themselves are illegal. The case of a victim, referred to as Olivia, exemplifies the issue. Abused between the ages of three and eight, Olivia was rescued in 2023, but dark web users are now employing AI tools to create new abusive images of her, with one model available for free download.
The IWF report also reveals an anonymous dark web page with links to AI models for 128 child abuse victims. Offenders are compiling collections of images of named victims, such as Olivia, and using them to fine-tune AI models to create new material. Additionally, the report mentions models that can generate abusive images of celebrity children. Analysts found that 90% of these AI-generated images are realistic enough to fall under the same laws as real child sexual abuse material, highlighting the severity of the problem.
The United States is the undisputed global leader in AI startups and private-sector investment, according to a report by S&P Global. Between 2013 and 2023, 5,509 AI companies were founded in the US, eclipsing all other countries combined. China, the runner-up, saw 1,446 AI startups during the same period. The United Kingdom, Israel, and Canada followed with 727, 442, and 397 startups, respectively.
Investment in AI also heavily favours the US, with $335.2 billion poured into the sector over the past decade. China’s private-sector investment totalled $103.7 billion, while the UK, Israel, and Canada saw investments of $22.3 billion, $12.8 billion, and $10.6 billion, respectively. The report noted, however, that government investment, particularly in China, is significant and less transparent.
China’s approach to AI is shaped by its government’s ideological demands. The Cyberspace Administration of China (CAC) tests AI models to ensure they align with ‘core socialist values.’ AI companies must monitor content to avoid sensitive topics, including political dissent and references to historical events like the Tiananmen Square massacre.
S&P Global anticipates that private investments in AI startups could reach up to $900 billion globally by 2027, reflecting an annual growth rate of at least 70%. Meanwhile, China’s stringent regulatory environment continues to influence the development and deployment of AI technologies within its borders.
Elon Musk has caused quite a stir on social media with an AI-generated video featuring global leaders and technology tycoons in avant-garde attire. The video, posted on Musk’s platform X, showcases figures like US President Joe Biden and Prime Minister Narendra Modi on a virtual catwalk. Musk, clad in a futuristic superhero costume themed around Tesla and X, declared it was ‘High time for an AI fashion show!’
The video features Modi in a multi-coloured outfit adorned with geometric symbols and black sunglasses, a striking blend of modern and classic styles. Other notable appearances include Russian President Vladimir Putin in a Louis Vuitton suit, Biden in sunglasses and a wheelchair, and Kim Jong-un in a baggy sweatshirt and gold necklace. Former US President Donald Trump also makes an appearance, adding to the eclectic assortment.
Musk took a potshot at Microsoft co-founder Bill Gates, who appears in the video holding a banner titled ‘Excessive concentration of power’, a reference to the recent major IT outage. Microsoft reported that a software update by cybersecurity firm CrowdStrike affected nearly 8.5 million devices globally.
The video also features Apple CEO Tim Cook with an iPad and former House Speaker Nancy Pelosi in a vibrant Supreme dress. The AI fashion video garnered over 33 million views in just four hours, prompting widespread reactions across the globe.
Samsung is reportedly exploring new phone designs tailored for generative AI applications. Roh Tae-moon, president of Samsung’s Mobile Experience unit, stated that upcoming ‘AI phones’ will look ‘radically different’ from current models. These new devices are expected to be more mobile, incorporating additional sensors and larger screens.
Roh revealed that a significant portion of Samsung’s mobile phone research and development is now focused on these AI-driven phones. Although specific designs were not disclosed, the goal is to move beyond the traditional slim rectangular form that has dominated the market since the iPhone’s debut.
The shift towards AI integration in phones follows Samsung’s introduction of the ‘Galaxy AI’ system, enhancing existing features and adding new tools for users. This move is part of a broader industry trend, with major players like Apple and Google also incorporating AI into their devices.
Competitors have tried to launch AI-specific devices with unique designs, but these have not gained mainstream success. Products like the Rabbit R1 and Humane AI were criticised for poor performance and battery life, highlighting the challenges in creating functional AI-driven smartphones.
