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Today was a big day in the world of artificial intelligence. As European Union has begun finalizing the redrafted AI laws, many companies have begun sharing concerns and urging the EU to reconsider the policies. In separate news, Microsoft has launched a new AI skills initiative, a free course, across the globe through which it intends to help people understand how to use the potential of AI. This and more in today’s AI roundup. Let us take a closer look.
Top companies raise alarm over the EU AI laws
Many big business leaders are opposing the EU’s proposed legislation on AI, suggesting that it restricts competitiveness and can harm the growth of this new technology and cause an exodus of investors out of Europe.
In an open letter sent to the EU, that has hundreds of signatories including chief executives from companies such as Siemens, Renault, and Airbus as well as prominent individuals such as chief AI scientist of Meta, Yann LeCun. British chipmaker ARM’s founder Hermann Hauser said, “In our assessment, the draft legislation would jeopardize Europe’s competitiveness and technological sovereignty without effectively tackling the challenges we are and will be facing”.
“Such regulation could lead to highly innovative companies moving their activities abroad. The result would be a critical productivity gap between the two sides of the Atlantic,” it added.
Microsoft launches new AI initiative
Microsoft, on Friday, announced a new AI Skills Initiative to help people and communities around the world learn to harness the power of AI. This includes a free course that has been developed with LinkedIn.
In its statement, Microsoft highlighted a statistic taken from the company’s Work Trend Index that mentioned that as many as 74 percent of Indians highlighted a fear that AI will replace their jobs.
“To that end, Microsoft’s AI Skills Initiative will aim to help workers stay ahead of emerging skills gaps and alleviate digital debt – the crush of data, information, and always-on communications – and unleash creativity,” the post mentioned.
AI-generated drug enters clinical trials
Earlier this year, Insilico Medicine, a Hong Kong-based biotech startup, created the first drug that was entirely generated by AI. The drug, INS018_055, aimed at treating idiopathic pulmonary fibrosis, a chronic lung disease, has now entered the human trials stage.
“It is the first fully generative AI drug to reach human clinical trials, and specifically Phase II trials with patients. While there are other AI-designed drugs in trials, ours is the first drug with both a novel AI-discovered target and a novel AI-generated design,” Alex Zhavoronkov, founder and CEO of Insilico Medicine told CNBC.
Inflection AI raises $1.3 billion from investors including Bill Gates and Nvidia
Inflection AI, the startup which gained attention for building a “kind and supportive” AI chatbot called Pi, has now raised a massive $1.3 billion. This has marked one of the biggest funding rounds of Silicon Valley in the AI field.
The startup is less than two years old and is cofounded by Reid Hoffman, who is also a cofounder of LinkedIn, and Mustafa Suleyman, who is one of the founders of Google’s DeepMind.
This round of investment was led by Microsoft’s Bill Gates, Nvidia, former Google CEO Eric Schmidt, and Hoffman. The startup is being looked at as a competitor of OpenAI.
Fake AI crypto ad shows celebrities such as Bear Grylls, Ian Wright
According to a report by The Standard, scammers are using AI tools to create fake crypto ads and run them on Facebook and Twitter. These ads show celebrities such as former Arsenal football player Ian Wright, adventurer Bear Grylls, celebrity chef Gino D’Acampo, and others. According to the report, the ads have been seen just on Twitter over a million times.
These ads are being circulated by scammers to either endorse a product, spread fake news, or lure victims to fake websites.
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