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It has been alleged that tech giants fund Congressional AI fellows and this has raised concerns of undue industry influence; AstraZeneca Inks $247 million deal with AI firm Absci for cancer drug discovery; MediaTek’s on-device AI promises to personalised phone experience; EY’s AI detects fraud in UK audits- this and more in our daily roundup. Let us take a look.
1. Tech giants fund congressional AI fellows
Tech giants like Google, Microsoft, IBM, and Nvidia are funnelling funds through the American Association for the Advancement of Science to support a “rapid response cohort” of Congressional AI fellows. These fellows, including PhD holders and former tech professionals, are influencing AI policy in Senate offices, including those of Sens. Schumer, Heinrich, Rounds, Wyden, Cassidy, and Kelly. The move raises concerns about potential industry influence on AI regulation, according to a Politico.com report.
2. AstraZeneca Inks $247 million deal with AI firm Absci for cancer drug discovery
AstraZeneca has partnered with Absci Corporation in a $247 million deal to leverage AI technology for cancer drug discovery. Absci’s AI conducts large-scale protein analysis, aiding AstraZeneca’s focus on oncology therapies. The collaboration exemplifies the growing trend of big pharmaceutical companies utilising AI for novel disease treatments. Absci’s generative AI model, trained on proprietary protein interaction data, contributes to antibody design. The undisclosed cancer target aligns with AstraZeneca’s goal to advance targeted drugs over traditional chemotherapy, emphasising AI’s role in enhancing biologics discovery, Financial Times reported.
3. MediaTek’s on-device AI promises to personalised phone experience
MediaTek aims to revolutionise phones with on-device AI, promising personalised answers and faster suggestions. The company’s generative AI technology, highlighted at its Executive Summit, enables features like Vivo’s upcoming phone, which can record, transcribe, and summarise meetings on-device, ensuring confidentiality. While Qualcomm has incorporated similar AI capabilities into premium Android phone chips, both companies envision enhanced personalisation through consideration of behaviour patterns and image manipulation, according to a CNET report.
4. EY AI detects fraud in UK audits, signalling potential for improved quality
EY, a Big Four accounting firm, reports AI success in detecting fraud during audits of UK clients. Using an AI system, the firm identified suspicious activity in two of the first ten companies examined, both later confirmed as fraud cases. This early achievement underscores the potential of AI to enhance audit quality and streamline processes. However, industry scepticism remains regarding the reliability of AI in detecting diverse forms of fraud and concerns about data privacy when utilising confidential client information for AI development, Financial Times reported.
5. OpenAI investor foresees free doctors, lawyers, and bipedal robots within a decade
OpenAI investor Vinod Khosla predicts that within a decade, AI could provide free access to doctors, tutors, and lawyers for everyone. In a podcast episode, the venture capitalist envisions humanlike robots and anticipates a billion bipedal robots in 25 years, creating an industry larger than today’s auto sector. Khosla believes in the significant, untapped potential of AI capabilities, suggesting that we haven’t witnessed the full extent of its power, Business Insider reported.
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