Artificial Intelligence News : 21st June, 2024

Dear Reader,

Welcome to the latest edition of our AI newsletter! The past 48 hours have seen some significant developments in the field of artificial intelligence. Here are the top 10 updates, along with their potential use cases for your business needs.

1. EU AI Act Finalised

The European Union has finalized its AI Act, aiming to regulate the development and use of AI technologies to ensure they are safe and ethical.        

Use Case: Businesses operating in the EU or dealing with EU clients must comply with these new regulations, which could impact how AI is integrated into their products and services.

2. Pope Francis Calls for AI Weapons Ban

Pope Francis has called for a global ban on the use of AI in weapons, emphasizing the need for an ethical framework for AI development.        

Use Case: This highlights the growing ethical concerns around AI, prompting companies to develop AI solutions responsibly and consider the ethical implications of their technologies.

3. Tesla's Real-World AI Advances

Elon Musk declared that Tesla’s in-house AI and chip designs outperform any existing alternatives, emphasizing their superiority in real-world applications.        

Use Case: Companies in the automotive and tech industries can look to Tesla’s advancements as benchmarks for developing high-performance, application-specific AI technologies.

4. Anthropic’s Claude 3.5 AI

Anthropic’s Claude 3.5 has doubled in speed and now outperforms ChatGPT on several fronts, introducing new features like Artifacts for interactive previews.        

Use Case: Businesses can leverage these advancements for more efficient and effective AI-driven interactions, improving customer service and operational efficiency.

5. China Promotes Global AI Cooperation

President Xi Jinping announced China's readiness to enhance global cooperation on AI development to promote healthy growth and global well-being.        

Use Case: International businesses can explore partnerships with Chinese firms to leverage collaborative AI development and global AI initiatives.

6. McDonald’s Axes AI Drive-Through Assistant

McDonald’s is discontinuing its AI drive-through assistant after numerous viral videos showed the technology making incorrect orders.        

Use Case: This serves as a reminder for companies to thoroughly test AI solutions in real-world environments before full-scale deployment to ensure reliability and customer satisfaction.

7. Stanford AI Mirrors Brain Organisation

Stanford researchers developed an AI that replicates brain-like responses to visual stimuli, potentially transforming neuroscience and AI development.        

Use Case: This can lead to more energy-efficient AI systems, benefiting industries like healthcare and robotics that require sophisticated, brain-like AI models.

8. AI Backlash from Creators

A growing movement of creators is banning AI from their platforms, advocating for human-created content and resisting AI’s role in creative industries.        

Use Case: Companies in the creative sector should consider the balance between AI and human creativity, ensuring they respect and support human creators’ rights and contributions.

9. AI Chip Breakthrough with Memristors

Researchers have developed memristors that mimic neural timekeeping, potentially leading to more advanced and energy-efficient AI hardware.        

Use Case: This breakthrough can be utilised in developing next-generation AI chips, improving performance and energy efficiency in AI applications.

Stay ahead in the ever-evolving AI landscape by leveraging these updates to drive innovation and efficiency in your business.

If you have any feedback or stories you’d like to share, please reach out to me over DM.

Until next update, stay curious and keep innovating!

Best

Ruhbir Singh

[Everyday, I do a lot of reading and spend time doing experiments with various AI tools and other industrial use case deployments we have been doing as a team.

I thought I should share my personal views notes as learning / observation with my Linkedin family and other social platforms and for my future self to put growth of AI over a timeline, so here you have this AI News Newsletter.

I will bring you updates on groundbreaking research, innovative applications, and insightful commentary on how AI is shaping our world, hope you will find it useful.]