Latest In Web3, AI & Emerging Tech

Hello, and welcome to the latest edition of my weekly newsletter, where I bring you updates on the latest happenings in the world of Web3, AI, and Emerging Technologies.?

There are just so many things happening all at the same time in this industry and it’s often a job in itself to keep up to date with the latest, so it’s my pleasure to digest it all for you and share with you some of my favourites or most important developments in the space.

In this week’s issue, we are all about AI, from tough regulations to many new giants joining the race. So, without further ado, let's dive into this week's news!

Google Rushes to Release New AI-Powered Search Engine to Compete with Microsoft Bing

According to a report from the New York Times, Google is racing to unveil a new search engine powered by artificial intelligence technology, as the company faces growing competition from Microsoft Bing and the popular AI-powered chatbot, ChatGPT. Google's move is partly in response to news that Samsung could make Bing the default program on its devices, a potential loss of a $3 billion contract for Google. The report states that Google is also updating technology within its existing platform as part of a project called Magi, with around 160 employees currently working in "sprint rooms" to finish updated features such as increased personalization.

Google has been in a state of "panic" since December when it first issued a "code red" in response to the rise of ChatGPT. Threats to Google's long-held search engine dominance deepened when Microsoft teamed up with OpenAI to relaunch Bing in February. In response, Google has been updating its existing search engine, working on the Magi project, and creating a new AI-powered search engine.

European Parliament proposes tough measures on AI use

The European Parliament is reportedly nearing an agreement on a set of tough new measures for the use of artificial intelligence (AI), which would include requiring chatbot makers to disclose whether they use copyrighted material in their AI models. The proposed regulations would be part of Europe's Artificial Intelligence Act, which is set to be the world's most restrictive regime on AI development.

MEPs in Brussels are said to be close to agreeing on a number of proposals, including one that would put responsibility for the misuse of AI programs on developers such as OpenAI, rather than smaller businesses using it. There is also talk of a ban on the use of facial recognition in public spaces, although EU member states are expected to push back against a total ban on biometrics.

One of the more contentious proposals from MEPs is the requirement for developers of chatbots, such as OpenAI's ChatGPT, to declare if copyrighted material is being used to train their AI models. The measure is designed to allow content creators to demand payment for the use of their copyrighted material. MEPs also want to see greater transparency from chatbot makers, going beyond the current requirement for chatbots to disclose that they are not human.

The proposed regulations come amid rising concerns about potential abuses of AI technology and would represent some of the toughest rules on the development of AI. Once the European Parliament has agreed on its position, member states, the European Commission, and MEPs will draft a final bill with the aim of passing the law before the end of the current European Parliament term in 2024.

Elon Musk launches new AI company, X.AI

Elon Musk has founded a new company called X.AI, dedicated to artificial intelligence, according to a Nevada filing. Musk is listed as the director, while Jared Birchall, the director of Musk's family office, is listed as the secretary. The company was incorporated on March 9, 2023. Reports of Musk's plans to start an AI company had been circulating for days, with Business Insider claiming that Musk had purchased thousands of graphic processing units (GPUs) to power an upcoming generative AI product.

Musk has been openly critical of OpenAI, the AI organization he co-founded in 2015 but walked away from in 2018, and recently signed a letter calling for a pause on "giant AI experiments." X.AI appears to match the branding of X Corp, the name Musk assigned to Twitter after absorbing the platform into his company. During a recent interview, Musk made no mention of his plans to build an AI company when asked about the GPUs he purchased, stating that "everyone and their dog is buying GPUs at this point."

OpenAI has become a well-known name due to technologies like ChatGPT and GPT-4 and is partly responsible for driving Microsoft and Google's current efforts to deeply integrate AI tools into their products. The formation of X.AI is yet another example of Musk's push to stay at the forefront of the AI race, and his commitment to developing new technologies in the field.

Amazon introduces new tools to build generative AI on AWS

Amazon Web Services (AWS) has released new tools for developing generative artificial intelligence (AI) models. Amazon has been focusing on AI and machine learning (ML) for over 20 years, and many of its customer experiences are driven by ML. The company's new tools, Amazon Bedrock and Titan, allow developers to build and scale generative AI applications using foundation models. Titan can perform tasks like text generation, summarization, information extraction, and creating blog posts.

Amazon believes that generative AI applications such as ChatGPT have captured widespread attention and imagination, and it is at an exciting inflexion point in the widespread adoption of ML. The company claims that it is reinventing most customer experiences and applications with generative AI. Tech giants such as Google and Microsoft have also been offering developers, large language models.

Amazon's AI tools are expected to attract a growing number of customers and will help it expand its already impressive capabilities in this area. With more businesses using machine learning and AI technologies to automate their processes, the competition is getting stiffer, and Amazon is positioning itself as a leader in the field.