March #TechBytes - 1st part

Here is a roundup of some of the tech news you may have missed recently selected by us at Etiqa!

Ours is a journey inside the latest advanced technologies, news about the most exciting startups and scale ups from around the world, and updates on specialized, high-risk industries.

EU approves AI Act: what changes for Artificial Intelligence in Europe

With 523 votes in favor, 46 against, and 49 abstentions, on March 13, 2024, the EU approved the first law concerning artificial intelligence.

The text, soon to be translated into 24 languages and enacted no earlier than May, contains all practices based on AI usage that are prohibited. It's an important first step, considered historic, to protect workers and citizens.

The European Union's recent approval of the AI ACT represents a significant milestone in the global landscape of artificial intelligence regulation.

This groundbreaking legislation addresses the rapid evolution of AI technologies and the pressing need for robust frameworks to mitigate associated risks while upholding individual rights and freedoms. With its comprehensive scope, the AI Act prohibits various applications of AI that may pose threats to citizens' rights, emphasizing the importance of responsible AI development and usage.

The approval of the AI ACT underscores the EU's commitment to protecting fundamental rights, fostering democracy, and ensuring environmental sustainability in the rapidly advancing field of AI. Companies operating within the EU market are required to swiftly comply with the regulations outlined in the AI Act, with strict enforcement measures in place to uphold accountability.

Key provisions of the AI Act include significant limitations on biometric categorization systems and emotion recognition technology, aiming to prevent discrimination and safeguard personal liberties. Compliance entails thorough risk assessment, transparent practices, and human oversight, reflecting a proactive approach to ensuring ethical AI implementation.

As Europe takes the lead in AI regulation, the AI ACT sets a precedent for global standards, emphasizing the importance of balancing innovation with accountability in the development and deployment of artificial intelligence technologies.

Elon Musk opens up Grok AI: what it means for AI development

Elon Musk's decision to open-source his chatbot, Grok, heralds a new era in AI accessibility and development.

In response to his lawsuit against OpenAI , Musk announced that Grok would be made available for anyone to download and use. This move by Musk's AI startup, xAI, marks a departure from OpenAI's more restricted approach, highlighting the importance of open access in AI development.

Musk's decision reflects a broader trend in the AI community towards open-sourcing powerful AI models. While this approach fosters transparency and innovation, it also raises questions about the risks associated with unfettered access to advanced AI technologies.

Despite concerns about potential misuse, many experts believe that open-sourcing AI models can lead to safer and more robust systems. However, as AI capabilities continue to advance, there is a growing debate about the need to balance openness with responsible usage.

Grok's open-sourcing has the potential to democratize AI development, allowing developers worldwide to harness its capabilities for various applications. With Musk's substantial resources backing Grok, it could emerge as a potent AI model in the future, sparking excitement among developers eager to explore its possibilities.

Meta introduces AI-powered video algorithm on Facebook

Meta is set to revolutionize the video ecosystem on Facebook with the introduction of a new AI-based model aimed at enhancing user experience.

Videos are among the most popular content on social media platforms, prompting Meta to enhance how they are recommended to Facebook users. To achieve this, Meta will introduce a more efficient AI-based algorithm, ensuring users see more relevant, engaging, and personalized video content aligned with their interests and preferences.

The upcoming changes will impact every section of Facebook, including various types of videos such as Reels and longer, traditional formats. This move could attract new users to the platform and increase competitiveness, especially against major rivals like TikTok , known for its video content.

The algorithm will directly influence the platform's existing powerful recommendation system, extending its reach across all areas of the social network, including groups.

Tom Alison, Facebook's Head of Product, revealed during a recent tech conference in San Francisco that small-scale tests have already shown promising results. For instance, Reel watch time increased by approximately 8-10%, encouraging developers to proceed with further developments.

While the release date for the new algorithm remains undisclosed, its implementation is part of Meta's broader roadmap extending to 2026. This roadmap outlines Meta's plans to integrate AI across all its products, following substantial investments in AI technology.

This initiative aligns with Meta's broader strategy to leverage AI, including recent investments in high-end graphics processing units from 英伟达 to develop new generative AI models and virtual assistants for all its platforms. Meta aims to establish itself as a leader in this rapidly growing sector.

IBM implements workforce reduction in Marketing to prioritize AI development

IBM recently announced workforce reductions within its marketing and communications division, disclosed by sources familiar with the situation. Jonathan Adashek, IBM's chief communications officer, delivered the news during a brief meeting with employees from the affected unit.

This move aligns with IBM's broader strategy to replace thousands of jobs with AI, as CEO Arvind Krishna emphasized in previous statements. In December, Krishna highlighted IBM's commitment to upskilling employees in AI technologies as part of this transformation.

IBM anticipates maintaining its workforce at a similar level to previous years despite these cuts. The company stated in its earnings call that it aims to exit 2024 with a workforce size comparable to the beginning of the year.

These layoffs come amidst a larger trend of downsizing across the tech industry. According to Layoffs.fyi, approximately 50,000 jobs have been cut by 204 tech companies so far this year. Notable players such as Alphabet, Amazon, and Unity have also announced job cuts.

While IBM has experienced growth in recent years, its expansion remains modest compared to competitors. The company faces significant competition in the enterprise AI sector from rivals like 微软 , 谷歌 , and 亚马逊 .

IBM's efforts to leverage the AI narrative include the launch of WatsonX, aimed at facilitating machine-learning model development for businesses. However, the company has faced criticism for its perceived slow monetization of AI products.

As part of its strategic realignment, IBM sold its Watson Health unit to private equity firm Francisco Partners nearly two years ago. This move reflects IBM's efforts to streamline operations and focus on core business objectives.