Welcome to AI Weekly Digest ?? Your essential AI briefing, carefully curated by me, Rubén Colomer, AI Specialist and GP at Next Tier Ventures. Stay ahead of the curve with the latest AI breakthroughs, key funding news, innovative tools, thought-provoking reads, and the best AI job opportunities - it's all here!
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News ?????
- OpenAI Rolls Out Advanced Voice Mode to ChatGPT Plus and Teams OpenAI has expanded its Advanced Voice Mode (AVM) for ChatGPT to Plus and Teams users, introducing five new voices and improved accents. AVM now features a blue animated sphere and improved voice comprehension. The rollout includes Custom Instructions and Memory features. Sky, a voice previously showcased, has been removed following legal concerns. Full release to Enterprise and Edu customers is expected next week, but some regions like the EU and the UK still lack access.
- James Cameron Joins Stability AI’s Board of Directors. James Cameron, the renowned filmmaker and technology pioneer, has joined Stability AI’s Board of Directors. This partnership aligns with Stability AI’s mission to revolutionize visual media using generative AI. Cameron’s experience in pushing technological boundaries in cinema will support Stability AI in empowering creators with innovative tools. The collaboration aims to blend advanced AI with artistic storytelling, fostering new creative possibilities in the media landscape.
- Google Releases Enhanced Gemini Models. Google has introduced new versions of its Gemini 1.5 models, including the lightweight Gemini 1.5 Flash-8B and a more robust Gemini 1.5 Pro. These models offer improved performance in math, coding, and complex prompts. Google aims to gather feedback from developers using these experimental models before releasing the final versions. The models are available for free testing via Google AI Studio and the Gemini API, with updates expected in the coming weeks.
- Microsoft Invests $1.3 Billion in Mexico’s AI and Cloud Infrastructure. During the Microsoft AI Tour 2024 in Mexico City, CEO Satya Nadella announced a $1.3 billion investment to boost AI infrastructure and digital skills in Mexico. The initiative aims to foster inclusive growth, enhance connectivity, and drive digital transformation in the country and across Latin America. By supporting AI adoption and digital skilling, Microsoft is leveraging technology for social and economic progress, empowering the region to harness the benefits of digital transformation and innovation.
- Google CEO Announces $120M Fund for Global AI Education Sundar Pichai unveiled a $120 million Global AI Opportunity Fund at the UN Summit, aiming to enhance AI education and training worldwide. The initiative will collaborate with nonprofits to address the global "AI divide" and maximize AI’s potential for economic and societal benefits. Pichai emphasized AI's transformative role in areas like scientific research and climate tracking, while also advocating for balanced regulation to prevent hindering innovation.
- Meta Launches Llama 3.2 with Vision Capabilities and Celebrity Voices Meta introduced Llama 3.2, an AI model capable of understanding both images and text, at Meta Connect. The model supports a variety of applications, including real-time image analysis and interactive assistants, and is optimized for mobile devices. New features include celebrity voices like Judi Dench and John Cena. CEO Mark Zuckerberg highlighted Llama 3.2's open-source nature, aiming to rival competitors like OpenAI and Anthropic by providing advanced AI tools for developers.
- Jony Ive and OpenAI collaborate on AI hardware project led by LoveFrom. Jony Ive's design firm LoveFrom is collaborating with OpenAI on a secretive AI hardware project. The venture, aiming to raise $1 billion, includes ex-Apple designers and seeks to revolutionize user interactions through advanced generative AI. The project’s goal is to create a device that offers a more integrated and seamless computing experience than current smartphones.
- California Faces Legal Challenges Over New AI Election Deepfake Laws. California's new laws banning AI-generated deepfakes in political ads are facing legal challenges for allegedly infringing on free speech. One law allows individuals to sue over election deepfakes, while another mandates platforms to remove deceptive content. A lawsuit claims these laws could lead to censorship, raising concerns about their effectiveness and impact on freedom of expression.
- Fed Fuels AI Market Surge with Rate Cut. The Fed's recent 50 basis point rate reduction has sparked a significant rally in AI stocks, benefiting tech giants like Nvidia, Broadcom, and ASML. Investors view the move as a positive signal for the tech sector’s growth potential through 2025, driving up shares in companies central to AI development and adoption. The lower interest rates are expected to enhance borrowing conditions and spur further investments in AI-driven innovations.
Funding ????
- Harmonic Raises $75M to Develop AI with Mathematical Superintelligence New York-based Harmonic, led by CEO
Tudor Achim
, secured $75 million in funding from
Sequoia Capital
and others to advance AI systems with mathematical superintelligence. Their goal is to eliminate hallucinations in AI responses, making them more reliable for complex industries. The funds will help develop their Aristotle model, which uses advanced math reasoning for accurate problem-solving.
- UJET Raises $76M to Drive AI Customer Support Expansion. San Francisco-based
ujet.cx
has secured $76 million in funding led by Sapphire Ventures, with participation from GV,
Kleiner Perkins
, and others, to expand its AI-powered customer support solutions. Vasili Triant, promoted to co-CEO alongside founder
Anand J.
, aims to scale operations and drive profitability. UJET's AI technology helps companies like Instacart and Turo reduce staffing needs in contact centers by enhancing customer experiences.
- Torq Raises $70M to Scale AI-Powered Cybersecurity Platform Cybersecurity startup
Torq
secured $70 million in Series C funding led by
Evolution Equity Partners
. The NYC-based company, co-founded by
Ofer Smadari
, uses AI to automate security workflows for clients like Procter & Gamble and PepsiCo. With the new capital, Torq plans to expand product development and customer acquisition in the U.S., Europe, and Asia. Other investors include
Bessemer Venture Partners
and
Greenfield Partners
.
- Qura Raises €2.1M to Develop AI-Powered Legal Search Engine Sweden-based
Qura
has secured €2.1M in a Seed round led by
Cherry Ventures
to build an AI-driven legal search engine that enhances the efficiency of legal research. Co-founded by
Erik Nordmark
and led by CEO
Arvid Winterfeldt
, Qura uses natural language queries to explore legal databases and reduce the risk of AI hallucinations by providing specific text references. The funding will help Qura expand its database connections across Europe, offering faster and more accurate legal research solutions.
- Phacet Raises €4 Million to Empower SMEs with Custom AI Solutions. Paris-based
Phacet
has secured €4 million in seed funding, led by
Motier Ventures
,
AGLAé VENTURES
, and others. The startup specializes in personalized AI applications for SMEs, aiming to enhance business efficiency by automating processes like e-commerce and customer service. Phacet’s platform collaborates with companies to develop tailored AI solutions. CEO
Nicolas Marchais
highlights their mission to bridge AI advancements with SME needs. Notable investors include
Thibaud Elziere
(Hexa) and
Des Traynor
(Intercom).
- Scribenote Raises $8.2M for AI Vet Records Founded by
Ryan Gallagher
,
Scribenote
uses AI to automate medical documentation for veterinarians. The platform captures conversations and generates accurate records, reducing paperwork and stress. The funding round was led by
Andreessen Horowitz
.
- Mercor Raises $30M for AI Hiring Platform Founded by
Brendan Foody
,
Mercor
connects recruiters with talent using AI. The $30M Series A round was led by Benchmark's
Victor Lazarte
and
Bill Gurley
, with backing from Jack Dorsey and @Peter Thiel.
- PictorLabs Secures $30M to Advance AI Virtual Staining Technology Pictor Labs , a UCLA spin-out transforming histopathology with AI, raised $30 million in a Series B led by
Insight Partners
. Founded by
Yair Rivenson
, the company’s virtual staining technology offers faster, reagent-free digital slides for diagnosing diseases. Investors include M Ventures and Insight Partners.
M&A ??
- Syntiant Acquires Knowles’ Consumer MEMS Mic Division for $150M Syntiant, based in Irvine, California, has acquired Knowles' Consumer MEMS Microphone division for $150 million. This acquisition enhances Syntiant’s AI capabilities by integrating Knowles’ advanced MEMS microphones, used in various devices such as smartphones and smart speakers. CEO
Kurt Busch
emphasized that this move positions Syntiant as a leading provider of AI-driven audio solutions.
Jeffrey Niew
, CEO of Knowles, stated that the company will now focus on high-margin products.
- Salesforce Acquires Zoomin for $450 Million to Strengthen AI Data Management Capabilities. Salesforce has acquired Israeli startup
Zoomin
, a company specializing in making unstructured data accessible for AI systems, for $450 million. This acquisition follows Salesforce's $1.9 billion purchase of another Israeli company, Own, earlier this month. Zoomin, founded in 2016, will integrate into Salesforce's Data Cloud operations, enhancing its data management and AI capabilities. CEO
Gal Oron
will join Salesforce along with the company’s 130 employees based in Israel and the U.S.
- Hummingbird Acquires LogicLoop to Revolutionize Risk Management Hummingbird has acquired
LogicLoop
to enhance its financial crime risk management platform with advanced data integration capabilities. The merger addresses the challenges of data fragmentation in financial institutions, enabling seamless integration of internal and external data sources. Hummingbird’s CEO,
Joe Robinson
, highlights the acquisition as a step towards empowering institutions with instant data access and automated compliance processes, while LogicLoop CEO
Jesika H.
emphasizes the goal of making data and AI more accessible for effective risk management.
- Gruve Acquires NetServ for $150 Million to Expand AI-Driven Services Gruve has acquired
NetServ
, a leader in AI and cloud services, for $150 million. This strategic move will enhance Gruve's offerings in AI, workload migration, and network automation, enabling enterprises to optimize operations and accelerate digital transformation. Gruve CEO
Tarun Raisoni
highlighted the acquisition's role in delivering comprehensive, secure AI solutions, while NetServ CEO
Jay Kulkarni
emphasized their shared mission to drive innovation and customer success.
- PeachWiz Acquires AIS Security for Expansion into POE Market PeachWiz has acquired Atlanta-based AIS Security, a specialist in low-voltage contracting, for an undisclosed amount. This acquisition will enhance PeachWiz’s POE (Power over Ethernet) Solutions by adding comprehensive installation and contracting services. CEO
Alexious Fiero
emphasized the strategic move as part of PeachWiz’s vision to offer fully integrated POE and smart system solutions. Combining PeachWiz’s AI-driven technology with AIS Security’s expertise aims to meet growing market demands and drive expansion into new sectors, including smart cities and healthcare facilities.
Interesting Reads ????
- MIT's AI-Based Method Speeds Up Particle Size Detection by 60 Times. MIT researchers have developed a machine learning technique that estimates particle size distribution in pharmaceutical manufacturing 60 times faster than previous methods. By analyzing scattered light from powder surfaces, the method reduces analysis time from 15 seconds to 0.25 seconds. This noninvasive and cost-effective tool enhances efficiency and product quality, offering new opportunities for studying dynamic processes in manufacturing. The work, part of the MIT-Takeda program, involves collaboration across MIT's engineering departments.
- Reimagining Learning with AI: Steven Johnson discusses Google’s NotebookLM, a Gemini-powered tool that organizes information and supports research. Launched as Project Tailwind, it now offers features like Audio Overviews, which create podcast-style summaries. Johnson explores how AI can enhance learning and address challenges like ensuring accuracy and avoiding misinformation.
- The Future of AI Agents: Dharmesh Shah's Vision: At INBOUND 2024, HubSpot co-founder Dharmesh Shah shared his perspective on AI agents, describing them as the "new apps" that everyone will soon use and build. He introduced agent.ai, a professional network for AI agents, and discussed integrating this technology into HubSpot’s platform to enhance customer experiences. Shah believes AI agents will revolutionize interactions, making automation and intelligent assistance more accessible to businesses and users.
- Major Companies Like Meta, Spotify, and Ericsson Urge EU for Clear AI Rules in Open Letter Over 40 leaders, including Meta, Spotify, and Ericsson, have signed an open letter urging the EU to provide consistent AI regulations. They emphasize that unclear rules risk Europe falling behind in AI innovation and missing out on significant technological and economic advancements.
- 24 Free AI Ebooks for Engineers and Enthusiasts: Discover a curated list of free ebooks on artificial intelligence, covering topics like computational agents, AI applications, and more. Perfect for deepening your knowledge in the field
- Join OpenAI's Startup Community: Gain access to exclusive events, expert AI support, and technical resources to accelerate your startup's growth.
Tools ?????
- Sourcetable: AI-driven spreadsheet platform that enables easy data analysis, financial modeling, and report automation without coding. It integrates with over 100 data sources like Shopify, Google Ads, and QuickBooks, providing live data synchronization and real-time insights through customizable dashboards.
- Air.ai: A groundbreaking AI can make realistic 10-40 minute phone calls, handle tasks across 5,000+ apps, and function like a full-time agent—no training needed. It works continuously, 24/7
- Locofy: Speeds up frontend development by converting designs into code using AI models. It integrates with tools like Adobe XD and syncs directly to GitHub, making UI building faster and more efficient
- SmartWriter automates personalized email creation using AI, turning online data into tailored messages for B2B sales and outreach, boosting engagement and response rates
- Sybill automates CRM updates and follow-ups for sales teams using AI. It creates comprehensive meeting summaries, personalized follow-up emails, and auto-fills CRM fields with relevant data, saving time and increasing efficiency.
AI Jobs ????????
NTV Highlights ????
Next month, on October 2nd and 3rd, Next Tier Ventures will participate in the Zebra Startup Fest in Zaragoza, one of the events for startups and investors in Spain. This year, the event will focus on innovation and entrepreneurship, featuring an impressive lineup of speakers and a strong presence from the investment community
Also, on October 23rd and 24th, we will participate in the VDS, one of the leading tech events in Southern Europe, where Next Tier Ventures is part of the organizing team. This year, the event will be heavily focused on Artificial Intelligence, featuring a stellar lineup of international speakers. The VDS will host around 15,000 attendees at an unparalleled venue, the City of Arts and Sciences in Valencia, where nearly 600 speakers and over 700 investors with more than $1 billion in assets under management will participate.
Got a Tip?
If you or your company have any leads on artificial intelligence-related information, news, events, job openings, tools, or recommendations of any kind, please write to me at ruben.colomer @ NextTier.vc
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Stay tuned for more AI insights and updates in the next issue of AI Weekly Digest!. Until then, keep exploring the exciting world of artificial intelligence.
