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☆ World’s first major AI law enters into force — here's what it means for U.S. tech giants
▼ + stars: | 2024-08-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +8 min

"It is likely to impact many businesses, especially those developing AI systems but also those deploying or merely using them in certain circumstances." For AI applications deemed to be "high-risk," for example, strict obligations will be introduced under the AI Act. watch nowExamples of high-risk AI systems include autonomous vehicles, medical devices, loan decisioning systems, educational scoring, and remote biometric identification systems. Generative AI is labelled in the EU AI Act as an example of "general-purpose" artificial intelligence. General-purpose AI models include, but aren't limited to, OpenAI's GPT, Google's Gemini, and Anthropic's Claude.

Persons: Dado Ruvic, Tanguy Van Overstraeten, Charlie Thompson, Appian, Thompson, Meta, OpenAI's, Google's, Anthropic's Claude, Jamil Jiva, Linedata, GDPR, Jiva Organizations: Reuters, European Commission, EU, CNBC, Microsoft, Google, Apple, Web Services, Big Tech, EMEA, Data, Facebook, Companies, AI Office, Commission Locations: Brussels, EU, Europe

☆ Google restricts election-related queries for its Gemini chatbot
▼ + stars: | 2024-03-12 | by ( Hayden Field | ) www.cnbc.com time to read: +4 min

Sundar Pichai, CEO of Google and Alphabet, speaks on artificial intelligence during a Bruegel think tank conference in Brussels, Belgium, on Jan. 20, 2020. Google announced it will restrict the types of election-related queries that users can ask its Gemini chatbot, adding it has already rolled out the changes in the U.S. and in India, where voters will head to the polls this spring. "Out of an abundance of caution on such an important topic, we have begun to roll out restrictions on the types of election-related queries for which Gemini will return responses," Google wrote in a blog post on Tuesday. "We take our responsibility for providing high-quality information for these types of queries seriously, and are continuously working to improve our protections." A Google spokesperson told CNBC that the changes are in line with the company's planned approach for elections.

Persons: Sundar Pichai, Gemini, Google's DeepMind, Josh Becker, screenshotting, Pichai, Sissie Hsiao, Bard Organizations: Google, CNBC, Gemini, Mobile, Democratic, Microsoft, Amazon Locations: Brussels, Belgium, U.S, India, Barcelona, California

☆ Google co-founder Sergey Brin says in rare public appearance that company 'definitely messed up' Gemini image launch
▼ + stars: | 2024-03-04 | by ( Jennifer Elias | ) www.cnbc.com time to read: +7 min

Brin, 50, spoke to entrepreneurs on Saturday at the "AGI House" in Hillsborough, California, just south of San Francisco, where developers and founders were testing Google's Gemini model. He also commented on the flawed launch last month of Google's image generator, which the company pulled after users discovered historical inaccuracies and questionable responses. Brin was also asked how online advertising will be disrupted considering ad revenue is core to Google's business. Bloomberg | Bloomberg | Getty Images“I of all people am not too terribly concerned about business model shifts,” Brin said. Beyond AI, Brin was asked about Google's difficulties in hardware given recent advancements in virtual reality.

Persons: Sergey Brin, Google David Paul Morris, Brin, ” Brin, “, Larry Page, He's, ”, Gemini, “ that’s, Prabhakar Raghavan, Google's, Sundar Pichai, Raghavan, Brin didn't, OpenAI's ChatGPT, Elon Musk's, Eric Schmidt, that’s, I'm Organizations: Google, Bloomberg, Getty, CNBC, Gemini, Google Inc, Allen & Co . Media, Technology Conference, Apple Vision Locations: Hillsborough , California, San Francisco, Sun Valley , Idaho, U.S

☆ Google is starting to feel like any other business, and staging a comeback won't be easy
▼ + stars: | 2024-02-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at how Google has gone from the tech industry's vanguard of cool to just another boring company . AdvertisementGoogle has long stayed atop Silicon Valley's volatile popularity contest — but the best place to work in tech is starting to feel like any other business , Business Insider's Hugh Langley and Lara O'Reilly write. Bureaucracy, an aversion to risk, and deference to Wall Street over employees — things Google long eschewed — have become the norm. The latest example is the debacle surrounding Gemini — its flashy new AI model that faced backlash for being too "woke."

Persons: —, Rebecca Zisser, Hugh Langley, Lara O'Reilly, Alistair Barr, Sundar Pichai, Hugh, Lara, Mateusz Wlodarczyk, BI's Peter Kafka, it's, David Rosenberg, Gary Shilling, Snowflake's Frank Slootman, Ozgur Hakan Aslan Toyota, Boxabl, Elon Musk, Tesla, Hewlett Packard, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb Organizations: Service, Google, Business, Gemini, Meta, Big Tech, OpenAI, Corporations, Nvidia, SEC, Universal Music Group, Universal, BI Locations: —, New York, London

☆ Alphabet's Gemini AI misstep is the latest reason Cramer is getting fed up with the stock
▼ + stars: | 2024-02-28 | by ( Paulina Likos | ) www.cnbc.com time to read: +8 min

Jim thinks Google has lost focus as it struggles to shake off the narrative that it's lagging in the AI race. With all these things lining up against Google, Jim has been becoming increasingly wary of the stock. Even though Alphabet stock keeps getting dinged for AI misses, Bernstein analysts "don't subscribe to the generative AI risk to Google Search" for now. At the Club, we believe Google's AI chatbot Gemini could be competitive in attracting users, but the advertising opportunity may not be the same. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Sundar Pichai, Pichai, Jim, Google, Bard, Gemini —, —, Axel Springer, they're, Bernstein, playbook, Meta, haven't, Jim Cramer's Organizations: Google, Apple, Microsoft, Nvidia, Tesla, The Club, Politico, U.S, Club, NFL, YouTube, National Football League, Management, Sunday, Meta, Walmart, CNBC, Future Publishing, Getty Locations: U.S

☆ Google has another 'woke' AI problem with Gemini — and it's going to be hard to fix
▼ + stars: | 2024-02-26 | by ( Peter Kafka | ) www.businessinsider.com time to read: +5 min

Read previewGoogle spent much of last week getting hammered for supposedly creating a "woke" AI chatbot and eventually apologized for "missing the mark." AdvertisementBut it's also going to be a problem for Google because it has already said it is trying to influence the way its AI produces results. And that's going to be red meat for anyone who wants to argue that Google — or any other Big Tech company — is "too woke." Last week, after getting similar criticism about the way Gemini handled race when it came to AI-generated images, Google "paused" Gemini's ability to create images. Pulling Gemini altogether would be a considerable black eye for the company, and one I think it will be incredibly reluctant to do.

Persons: —, Ben Thompson, Gemini, Hitler, Elon Musk's, Thompson, Sundar Pichai, Marc Andreessen, it's, they're, Prabhakar Raghavan, Raghavan, Google's, I'm Organizations: Service, Business, Google, Meta, Microsoft, Big Tech, Gemini

☆ Google halts AI tool’s ability to produce images of people after backlash over historically inaccurate depictions of race
▼ + stars: | 2024-02-22 | by ( Catherine Thorbecke | Clare Duffy | ) edition.cnn.com time to read: +3 min

The embarrassing blunder shows how AI tools still struggle with the concept of race. Google’s attempt to overcome this, however, appears to have backfired and made it difficult for the AI chatbot to generate images of White people. Gemini, like other AI tools such as ChatGPT, is trained on vast troves of online data. Experts have long warned that AI tools therefore have the potential to replicate the racial and gender biases baked into that information. This screen grab shows CNN asking Google Gemini to create an AI-generated image of a "White farmer in the South" and the tool's response.

Persons: OpenAI’s Dall, Gemini, Clare Duffy, ”, “, Jack Krawczyk, Bard, James Webb Organizations: New, New York CNN, Google, CNN, White, Tech, Gemini, James Webb Space Telescope Locations: New York, White, Dublin ”

☆ Mastercard jumps into generative AI race with model it says can boost fraud detection by up to 300%
▼ + stars: | 2024-02-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

(Photo by Joan Cros Garcia/Corbis via Getty Images)Payments giant Mastercard says it has built its own proprietary generative artificial intelligence model to help thousands of banks in its network detect and root out fraudulent transactions. The company told CNBC exclusively that its new advanced AI model, Decision Intelligence Pro, will allow banks to better assess suspicious transactions on its network in real-time and determine whether they're legitimate or not. Ajay Bhalla, Mastercard's president of cyber and intelligence business unit, told CNBC that the new AI solution is a proprietary recurrent neural network — a core part of generative AI — from Mastercard built from scratch by the company's cybersecurity and anti-fraud teams. "We are using the transformer models which basically help get the power of generative AI," Bhalla told CNBC in an exclusive interview earlier this week. Mastercard's proprietary algorithm is trained on data from the roughly 125 billion transactions that go through the company's card network annually.

Persons: Joan Cros Garcia, Corbis, Ajay Bhalla, Bhalla, we've, — Organizations: MasterCard, Mobile, Congress, Getty, Mastercard, CNBC Locations: BARCELONA, SPAIN, Barcelona, Spain

☆ I Visited Miami After the Stock Market Crash, Crypto Bubble Pop
▼ + stars: | 2023-03-26 | by ( Linette Lopez | ) www.businessinsider.com time to read: +13 min

And if any city is the city where you can see just how remarkably things have shifted, it's also Miami. If the draw in the 1920s was imaginary land, Miami's bubble in the 2020s was driven by imaginary money — crypto. The newcomers — and the crypto kids, especially — believed they could master Miami as easily as they had mastered the markets. The new Miami money party started to run out of libations. "There were a lot of true believers in the Miami crypto scene.

☆ The Winklevoss twins and their cryptocurrency exchange Gemini are being sued for fraud by investors
▼ + stars: | 2022-12-29 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Crypto exchange Gemini is facing a class action lawsuit over its interest-bearing accounts. Investors are accusing Gemini — along with founders Cameron and Tyler Winklevoss — of fraud, per a complaint filed on Tuesday. Gemini's Earn Program attracted customers because it offered up to 7.4% interest. Gemini Earn Program, which offered customers up to 7.4% interest, abruptly halted its offering last month, "effectively wiping out" customers who still had holdings in the program. Gemini "refused to honor any further investor redemptions, effectively wiping out all investors who still had holdings in the program," the complaint reads.

☆ Tom Brady and Gisele Bundchen named in lawsuit against FTX
▼ + stars: | 2022-11-16 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

Genesis said it was working with advisers “to explore all possible options,” adding that it would release a plan for the lending business next week. “We’re working tirelessly to identify the best solutions for the lending business, including among other things, sourcing new liquidity,” the company said. The suspension comes as the entire crypto industry is on edge following the unraveling of Sam Bankman-Fried’s FTX exchange and Alameda Research hedge fund, both of which filed for bankruptcy late last week. On Wednesday an FTX investor sued Bankman-Fried as well as several celebrities who have endorsed the platform, including Tom Brady, Gisele Bundchen and Steph Curry. “The deceptive FTX platform maintained by the FTX entities was truly a house of cards,” the proposed class-action lawsuit states.

In the event of bankruptcy, crypto customers with custodially held assets are typically last in line to receive payment. Consider a custodial walletThere are two key types of crypto wallets: custodial wallets and non-custodial wallets. You can set up multiple crypto wallets, so one solution would be to open non-custodial custodial wallets in addition to your exchange's custodial wallet. Pros and cons of custodial walletsAs mentioned earlier, custodial wallets are managed by a third party (e.g., a crypto exchange). You could even set up multiple crypto wallets to lower the risks associated with custody (e.g., hacks and theft).

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