This week's latest generative AI updates - August 20, 2024

Welcome to this week’s SymphonyAI generative AI weekly newsletter summarizing all the important AI industry developments and technology advancements you need to know. This week's highlights include:

SymphonyAI news and resources?

• Press release: SymphonyAI is recognized as the best financial crime investigation and reporting solution by Datos Insights in the 2024 Fraud & AML Impact Awards ?

• Enterprise AI bootcamps for retailers and CPGs : A tailored, hands-on forum to help you understand how AI can boost innovation, shopper loyalty, competitive edge, and financial performance.?

• AI platform: All SymphonyAI applications are built on Eureka , the industry-leading generative and predictive AI architecture. Learn how SymphonyAI can quickly bring generative and predictive AI SaaS products to market for vertical use cases.??

• Case study: A large US regional bank deployed SymphonyAI’s NetReveal payment fraud to reduce fraud losses from SWIFT and wire transactions.?

• Webinar: Join the webinar with Constellation Research, Microsoft, MIT, and SymphonyAI on Thursday, Aug 22nd at 3 pm ET/12 pm PT: Cutting through the hype to unleash true enterprise AI value?

The AI power play: Reshaping productivity and workforce dynamics?

• AI-Powered Sectors Skyrocket Productivity :?PwC's AI Jobs Barometer shows AI is boosting productivity nearly fivefold in AI-exposed sectors, with 84% of CEOs seeing improved efficiency.?

• Generative AI in Real-World Workplaces :?Microsoft's?study ?of over 6,000 employees across 60 companies shows that AI tools like Copilot drive productivity gains, with employees spending 11% less time on emails and increasing document creation by 10%.?

• Generative AI Drives Revenue Growth for 86% of Enterprises: Google Cloud Survey :?A Google Cloud?survey ?reveals that 86% of enterprises using generative AI have experienced 6% revenue growth, especially in sectors including finance, healthcare, and retail.?

• JPMorgan Chase Embarks on AI Revolution :??JPMC is implementing AI training for all new hires, emphasizing the importance of AI across all roles to boost productivity, reduce repetitive tasks, and drive revenue growth.??

• AI Assistant Empowers 60,000 JPMorgan Chase Employees :?JPMC introduced an AI assistant powered by OpenAI's ChatGPT to over 60,000 employees, for productivity across tasks like writing and problem-solving.?

• S&P Global and Accenture Drive AI Mastery : S&P Global and Accenture launched an ambitious generative AI-based training program for S&P 35,000 employees for financial data analysis and decision-making.?

Cost-cutting measures: AI giants slash prices to expand market share?

• GPT-4o Price Drop: OpenAI Slashes Costs and Supercharges Token Capacity: OpenAI reduced the pricing for GPT-4o while significantly increasing its output capacity.?

• Gemini 1.5 Flash Updates: Cost Reductions and Enhanced Features :?Google’s Gemini 1.5 significantly reduces costs and improves performance for better processing times and accuracy in large-scale applications.?

OpenAI on the backfoot: The market closes in on the leader?

• OpenAI's Summer of Turmoil :?Three executives have recently departed OpenAI, and internal turmoil and competition from firms such as Google, Meta, Mistral, and Anthropic are causing pressure on the gen AI leader.?

• OpenAI's Financial Crisis :?OpenAI is facing severe financial challenges, with projected losses of up to $5 billion due to skyrocketing operating costs, potentially leading to bankruptcy within 12 months.??

Tip of the week: Text to graphics?

• Napkin Transforms Text into Visuals Using Generative AI :??Napkin’s new tool uses generative AI to transform text into visuals, streamlining content creation.?

AI agents transform workflows: Boosting efficiency and productivity?

• Bardeen Unleashes AI-Powered Workflow Automation, Backed by Major Investments: Bardeen’s business-ready AI agent for workflow automation streamlines processes and improves productivity by automating routine tasks.?

• Saarthee Unveils Generative AI CX Agent Simulator: Elevating Customer Service Training: Saarthee’s gen AI-based customer experience (CX) agent simulator helps businesses improve customer service delivery via realistic scenarios and personalized responses.?

• MuukTest Launches Amikoo: AI-Powered Revolution in Software Testing :?MuukTest’s Amikoo, is an AI-powered agent that automates complex software testing scenarios.?

Guardians for national security?

• Microsoft and Palantir: Strengthening National Security with AI Innovation : Microsoft and Palantir collaborate to enhance AI capabilities for national security applications. The partnership aims to provide government agencies with advanced data analysis and decision-making tools, improving their ability to respond to security threats.?

Enhanced cybersecurity with AI: Reducing risks and improving efficiency?

• Veza's Access AI: Redefining Identity Security with Generative AI Solutions: ?Veza’s Access AI improves identity security by automating access management processes and properly controlling and monitoring access rights.??

• Balbix Introduces BIX: The Future of Cyber Risk Management with Conversational AI: Balbix’s BIX is a gen AI assistant that provides real-time risk insights and recommendations, for proactive security measures.?

• IBM's Generative AI Cybersecurity Assistant: Revolutionizing Threat Management: IBM’s gen AI cybersecurity assistant predicts potential threats and recommends countermeasures.?

The power of context: A new era of data-driven insights?

• ShareThis Introduces AI-Powered Contextual Targeting: Precision Ads Without Cookies: ShareThis’s AI-powered contextual targeting product helps deliver more personalized and relevant ads using real-time data to improve ad performance and user engagement.??

• Weka and Contextual AI: Turbocharging Enterprise AI on Google Cloud :?Weka and Contextual AI are collaborating on data analytics capabilities with integrated AI-driven insights into business processes.??

• Lasso Security's CBAC: Setting the Standard for LLM Security :??Lasso Security’s context-based access control (CBAC) system for LLM safety dynamically adjusts access permissions based on real-time contextual data.?

AI-enhanced learning: Redefining learning and development?

• Delphi's Video Clone: Personalizing Learning and Engagement with Digital Clones: Delphi’s video clone personalizes learning experiences via AI-driven video content tailored to individual users.??

• Stanford and Flatiron's AI M&A Simulator: Transforming Legal Training with Real-Time Scenarios: Stanford and Flatiron Law Group launched a generative AI simulator for mergers and acquisitions with complex M&A scenarios modeling.?

• Hexaware's AI Masterclass: Building the Architects of Tomorrow :?Hexaware and UpGrad now offer training in generative AI, focusing on building the necessary skills for the future of AI-driven industries.

Mitigating AI risks: A call for responsible development and deployment?

• OpenAI Warns of Users Becoming Too Attached to ChatGPT’s Voice Mode: ??OpenAI cautions that users might become emotionally attached to AI, particularly through voice interactions, and AI could be used to manipulate emotions.?

• Apple’s AI Writing Tools: Powerful Yet Cautious—Navigating Sensitive Content Safely:? ?Apple's new AI-powered writing tools face challenges in delivering precise outputs with users citing accuracy and context concerns.?

• Respeecher and Reality Defender Team Up: Combating AI-Generated Audio Threats: Respeecher and Reality Defender are combatting deepfakes by providing digital content security and authenticity.??

• AI-Generated Medical Summaries Raise Concerns: Hallucinations Exposed :?Concerns over hallucinations in AI-generated medical summaries highlight the importance of verification and oversight in AI-assisted medical documentation.?

• FCC’s New Rules: Regulating AI-Generated calls and Robotexts :?The FCC proposes new regulations to curb AI-generated robocalls, targeting the misuse of AI in telemarketing.??

AI transforms customer experiences: Personalized and efficient interactions?

• PolyAI and AWS: Pioneering the Future of Voice AI in Customer Service :?PolyAI and AWS are improving voice AI technology for customer service applications with more natural and efficient interactions.?

• Adobe's AI-Enhanced Journey Optimizer: Transforming B2B Marketing Strategies: ?Adobe launched AI-enhanced Journey Optimizer for more targeted and effective marketing campaigns.?

• Genpact and Volkswagen: Shaping the Future of Automotive Finance with AI :? Genpact and Volkswagen Financial Services are driving AI-powered transformation in financial operations.??

• Genpact and Salesforce: Redefining Business with Data-Driven AI Solutions :?Genpact is integrating its services with Salesforce Data Cloud, aiming to provide AI-driven insights for digital transformation across various industries.?

The AI arsenal: New weapons in the developer's toolkit?

• Structured Outputs Revolution: OpenAI’s API Gets a Major Upgrade for Developers : OpenAI introduced structured output capabilities in its API for improved accuracy and relevance of AI-generated responses.??

• Prompt Poet: Google’s Game-Changer in Revolutionizing LLM Prompt Engineering : Google Prompt Poet improves prompt engineering for LLMs, making it easier for developers to generate high-quality AI outputs?

• GitHub Models Sandbox: A Playground for AI Developers to Innovate :?GitHub’s Models Sandbox is a platform for developers to experiment with and deploy AI models.??

• RUBICON: Microsoft’s New Gold Standard for Evaluating AI Coding Assistants:? ?Microsoft RUBICON improves coding assistance, with better accuracy and efficiency for developers.??

• Mistral AI Unveils Advanced Customization for Generative AI: Build, Tweak, Repeat :?Mistral AI provided advanced customization features for gen AI so developers can fine-tune models.?

• DistillKit v0.1: A New Era of Small Language Model Creation and Distribution :?DistillKit launched a tool for creating and distributing small language models, an alternative to large-scale AI systems.??

• RooflineAI's Compiler SDK: Boosting Edge AI with Enhanced Deployment Tools :?Roofline’s new AI compiler SDK boosts edge AI applications by optimizing performance for low-power devices.?

The future of medicine: AI-enhanced diagnostic tools?

• Microsoft and Paige Unveil Advanced AI Model for Cancer Diagnostics :?Microsoft and Paige launched an enhanced AI model for cancer detection with improved accuracy in identifying cancerous cells.?

• New Transparency Method Enhances AI-Powered Medical Diagnosis :? A new transparency method, DiagnosisGPT provides AI-powered medical diagnosis, making the decision-making process of AI models more understandable to healthcare professionals.?

Other generative AI models?

• Qwen2-Math: Revolutionizing Mathematical AI Models with Bilingual Support : Qwen2-Math handles complex calculations and equations for advanced mathematical analysis.?

• EXAONE 3.0: LG's Groundbreaking Open-Source AI Language Model :?LG’s EXAONE 3.0 is an open-source AI language model for AI research and development.??

• Writer's Palmyra LLMs: Revolutionizing Healthcare and Finance with AI :?Writer’s Palmyra LLMs are specifically designed for accuracy and relevance of AI-generated content in highly regulated sectors, such as healthcare and finance.?

• MedSAM-2: Oxford’s New Frontier in Medical Image Segmentation AI :?Oxford University’s MedSAM-2 is a cutting-edge AI model for medical image analysis.???

• TII's Falcon Mamba 7B: Ushering in a New Era of SSLM AI Models :?The Technology Innovation Institute’s Falcon Mamba 7B is an AI language model that sets new benchmarks in performance and efficiency.??

Responsible AI and public policy?

• UNESCO's AI Guidelines: Shaping the Future of Legal Systems :?UNESCO introduced guidelines for the use of AI in legal systems, aiming to ensure ethical and transparent AI deployment in judicial processes.??

• California’s AI Bill: Balancing Innovation and Safety in the Tech Industry :?The bill is sparking intense debate as lawmakers and industry leaders clash over regulations and concerns about AI’s impact on privacy, jobs, and societal norms.?
• Tech Leaders Call for Copyright Law Overhaul in the AI Era :?Leading tech executives call for a comprehensive overhaul of copyright laws to address challenges posed by AI, arguing that current regulations are outdated and hinder innovation.?