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☆ China's internet giants bet big on A.I. as Beijing looks to rival U.S. on tech 'paradigm shift'
▼ + stars: | 2023-05-23 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

"This kind of computing power needs to be provided as a kind of public service or infrastructure. China, specifically, "has some of the most advanced AI tech in the world," he added. "We believe this is a Game of Thrones also playing out in the China Tech market as the gloves are on for this battle," Ives said. Many innovative vendors are going after this market and China tech is now in the midst of a secular shift around AI." The comments from some of China's top tech companies last week hint at how Beijing is seeking to ramp up its rivalry with the U.S. on AI.

Persons: BABA BABA, Robin Li, Baidu, Ernie Bot, OpenAI's ChatGPT, Tencent, Martin Lau, Lau, Alibaba, Daniel Zhang, Dan Ives, Ives, Hao Hong, CNBC's, —, Tencent's Lau, Baidu's Li, Didi, Meituan Organizations: HK, Microsoft, Google, Wedbush Securities, CNBC, China Tech, Big Tech, Baidu, U.S, Nvidia, chipmaker Micron, Grow Investment Locations: China, Beijing, U.S, Alibaba

☆ Wall Street can't seem to agree on how it oversees AI usage. Meet the 12 execs leading strategy for the tech at the biggest US banks.
▼ + stars: | 2023-05-22 | by ( Bianca Chan | ) www.businessinsider.com time to read: +2 min

Banks are accelerating their AI research and use cases due to the rise of ChatGPT and generative AI. While all six big banks have dedicated AI leaders, no two banks have the same org structure. This year is shaping up to be all about artificial intelligence, and Wall Street is no exception. Banks' priorities and tech strategies can also be gleaned from which divisions have dedicated AI leaders and which don't. Here's a list of 12 of the top AI executives to know at the nation's six biggest banks.

☆ Bank of America says buy these five tech stocks before it's too late
▼ + stars: | 2023-05-20 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Bank of America named a slew of tech stocks that are just too attractive to ignore. IBM The evolution of IBM continues, Bank of America analyst Wamsi Mohan said after attending the company's recent Think event. "We believe IBM will embark on further cost cutting, and enhance its services and software offerings through acquisitions," he said. The stock finished the week up 3.6% this year, and Bank of America sees plenty more gains for the legacy tech giant. IBM "IBM expect to monetize AI first through Services and expects a later inflection in Software as adoption scales.

☆ Google employees bombard leaders with questions about the company's strategy, asking if it's become too AI-focused
▼ + stars: | 2023-05-19 | by ( Hugh Langley | Rosalie Chan | ) www.businessinsider.com time to read: +5 min

Top of mind for employees was AI, including the company's recent showcase of generative AI products at its I/O developer conference on May 10. But staffers have concerns about the impacts of Google's aggressive push to build generative AI into all of its products. These OKRs were written to "rally" teams to incorporate AI into Google's products, Pichai said. 'People don't want to just hear AI-generated content'Another submitted question read: "LLMs are inundating the internet with AI-generated content, such as websites, books, images, music, and videos. This AI-generated content may eventually lead to a decline in internet quality, which may directly affect the quality of Google's search results.

☆ From Amazon to Wendy's, how 4 companies plan to incorporate AI—and how you may interact with it
▼ + stars: | 2023-05-19 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Artificial intelligence is no longer limited to the realm of science-fiction novels — it's increasingly becoming a part of our everyday lives. AI chatbots, such as OpenAI's ChatGPT, are already being used in a variety of ways, from writing emails to booking trips. In fact, ChatGPT amassed over 100 million users within just months of launching. AI's boom in popularity has many companies racing to integrate the technology into their own products. Here are four companies that are already utilizing AI's capabilities and how it may impact you.

☆ Meet the 12 execs leading the AI strategy at top US banks like Goldman Sachs, JPMorgan, and Morgan Stanley
▼ + stars: | 2023-05-18 | by ( Bianca Chan | ) www.businessinsider.com time to read: +2 min

☆ Mark Cuban says Elon Musk's AI company could create a 'virtual Elon' and calls it 'pretty scary'
▼ + stars: | 2023-05-18 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Mark Cuban says Elon Musk's Twitter purchase could give him a leg up in the AI arms race. The "Shark Tank" investor said Musk could even use it to create a "virtual Elon." Mark Cuban thinks Elon Musk's Twitter purchase could help his AI venture compete with OpenAI and other companies. "He can weigh his own tweets and those of the sources he likes and end up with a consumer-facing AI that can be a virtual Elon," Cuban wrote. In an emailed comment to Insider, Cuban said it will be "interesting to see what Elon does with it all."

☆ Google plans to use new A.I. models for ads and to help YouTube creators, sources say
▼ + stars: | 2023-05-17 | by ( Jennifer Elias | ) www.cnbc.com time to read: +2 min

Google CEO Sundar Pichai speaks on-stage during the Google I/O keynote session at the Google Developers Conference in Mountain View, California, on May 10, 2023. Google 's effort to rapidly add new artificial intelligence technology into its core products is making its way into the advertising world, CNBC has learned. The company has given the green light to plans for using generative AI, fueled by large language models (LLMs), to automate advertising and ad-supported consumer services, according to internal documents. For creators, the company has been using the technology to experiment with the idea of providing five video ideas based on topics that appear relevant. Specific to Google, paid search advertising conversion rates have decreased this year across most industries.

☆ Amazon's Alexa head says company is 'at the forefront of A.I.' as chatbots explode
▼ + stars: | 2023-05-17 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

That's pressured companies like Amazon to showcase their own capabilities in generative AI. Amazon's biggest entry into the market thus far has been through an AI service for cloud customers. However, Rohit Prasad, Amazon's senior vice president and head scientist for Alexa, said it's wrong to think the e-retailer has missed out in generative AI, which allows people to convert text-based queries into creative and thorough answers. "Alexa has been and is at the forefront of AI for a long time," Prasad told CNBC in an interview. Large language models power generative AI, and Alexa is already powered by Amazon's LLM.

☆ Google's newest A.I. model uses nearly five times more text data for training than its predecessor
▼ + stars: | 2023-05-16 | by ( Jennifer Elias | ) www.cnbc.com time to read: +2 min

Google's new large language model, which the company announced last week, uses almost five times as much training data as its predecessor from 2022, allowing its to perform more advanced coding, math and creative writing tasks, CNBC has learned. PaLM 2, the company's new general-use large language model (LLM) that was unveiled at Google I/O, is trained on 3.6 trillion tokens, according to internal documentation viewed by CNBC. Google's previous version of PaLM, which stands for Pathways Language Model, was released in 2022 and trained on 780 billion tokens. PaLM 2, according to internal documents, is trained on 340 billion parameters, an indication of the complexity of the model. The initial PaLM was trained on 540 billion parameters.

☆ WHO warns against bias, misinformation in using AI in healthcare
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +1 min

May 16 (Reuters) - The World Health Organization called for caution on Tuesday in using artificial intelligence for public healthcare, saying data used by AI to reach decisions could be biased or misused. The WHO said it was enthusiastic about the potential of AI but had concerns over how it will be used to improve access to health information, as a decision-support tool and to improve diagnostic care. The WHO said in a statement the data used to train AI may be biased and generate misleading or inaccurate information and the models can be misused to generate disinformation. It was "imperative" to assess the risks of using generated large language model tools (LLMs), like ChatGPT, to protect and promote human wellbeing and protect public health, the U.N. health body said. Reporting by Shivani Tanna in Bengaluru; Editing by Nick MacfieOur Standards: The Thomson Reuters Trust Principles.

☆ 'Really exciting': Fund manager picks A.I. stocks and names an opportunity 'we haven't seen yet'
▼ + stars: | 2023-05-16 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Big tech isn't dead, according to portfolio manager Trent Masters, who identified his favorite stocks to play artificial intelligence and more. While there were minimal changes to earnings estimates in aggregate, this was better than feared heading in," said Masters, global portfolio manager at Sydney-based Alphinity. Masters said that one "really exciting area" yet to be explored is the creation of verticals that sit on top of large language models like ChatGBT. Large language models, or LLMs, are programmed to understand human language and generate responses based on large sets of data. Microsoft Masters said Microsoft is "the first port of call" for investors who want to delve into AI.

☆ Codename Burnham: Amazon has a secret new home robot with ChatGPT-like features that understands a lot more of its surroundings.
▼ + stars: | 2023-05-09 | by ( Eugene Kim | ) www.businessinsider.com time to read: +7 min

Amazon is working on an upgraded version of its home robot Astro, powered by 'Burnham' technology. The robot has ChatGPT-like features, using large language models and other advanced AI. This is a new phase for Astro and the latest example of Amazon adding AI models to existing products. In one of these documents related to Burnham, Amazon describes an Astro product that costs $995. As LLMs were growing in scale, they started demonstrating "emergent skills in both inference and problem-solving," one of the Amazon documents stated.

☆ A new AI chatbot called Pi is designed to serve as your personal assistant — here's how it works
▼ + stars: | 2023-05-04 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +5 min

A new chatbot called Pi, launched by Inflection AI, offers personal advice and support. There's a new AI chatbot on the scene — and this one wants to get personal. At one point, I asked Pi to share museum recommendations for a friend visiting New York City. Insider asked Pi how to restart the conversation, and Pi said to "start talking about whatever is on your mind." Inflection AI also said it's "creating a new form of 'boundary training' that will redefine how AIs learn and are trained."

☆ I tried a site where AI matched me with someone based on my 'hotness' rating. It's really messed up.
▼ + stars: | 2023-05-04 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +5 min

Hot Chat 3000 is a dating website where AI determines your "hotness" using huge datasets. When a user enters Hot Chat 3000, they're asked to upload a picture of themselves as electronic music hums in the background. "Hot Chat 3000 very deliberately sets out to expose, visualize, exacerbate these biases," the site says. Which is to say that no one should take their Hot Chat 3000 "hotness" score seriously. There are no names in the world of Hot Chat 3000; instead, everyone is identified by their score.

☆ Exclusive: $38 billion data and AI darling Databricks acquires security startup Okera
▼ + stars: | 2023-05-03 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +4 min

Data and AI company Databricks is acquiring data security startup Okera. Recently, customers have increasingly asked about data security when creating custom AI models. In 2015 and 2016, software engineer Nong Li spent a number of months at data and AI startup Databricks. Databricks plans to integrate Okera deeply in the company, specifically as part of its data and AI governance offering, Unity Catalog, Ghodsi said. Today, Unity Catalog is Databricks' number one priority as it looks to build the end-to-end platform for data, analytics, and AI, Ghodsi said.

☆ Goldman Sachs CIO Tests Generative AI
▼ + stars: | 2023-05-02 | by ( Isabelle Bousquette | ) www.wsj.com time to read: 1 min

Goldman Sachs has a number of generative AI proof of concepts in place. Photo: Brendan McDermid/REUTERSThe pace of new developments in artificial intelligence came faster than expected for corporate technology leaders. Many have spent the past few months grappling with how and where they can leverage the new capabilities of generative AI and large language models, or LLMs, from categorizing reams of business documents to writing code. “The technology is changing so fast in front of our eyes that I think it’s almost like the limit is ourselves and being able to rationalize it,” said Marco Argenti, chief information officer of Goldman Sachs Group Inc.

☆ We're in the AOL phase of artificial intelligence, tech CEO says, as industry raves about A.I.
▼ + stars: | 2023-05-02 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Today's artificial intelligence systems are akin to the dial-up internet of yesteryear, according to the CEO of one AI startup, who said the space is in need of a reality check. Sachin Duggal, co-founder, and CEO of Builder.ai, told CNBC Friday that we've only just begun to imagine what's possible with AI. "We're only in the AOL world of AI still," Duggal told CNBC in an interview. "There is this perception we're in the fiber optic world of AI. Hype around AI has hit a fever pitch over the past few months on the back of excitement about ChatGPT, the popular AI chatbot.

☆ Amazon plans to reboot its struggling Alexa business by working on its own ChatGPT-like technology, leaked document shows
▼ + stars: | 2023-05-02 | by ( Eugene Kim | ) www.businessinsider.com time to read: +7 min

One of its ideas is to add entertainment features for Prime Video search and recommendations. "It feels like Alexa is thinking vs. fetching from a database," the document, titled "Alexa LLM Entertainment Use Cases," said. The document focused on new entertainment features for Alexa, including more conversational video search, personal recommendations, and storytelling and news-reading capabilities. When the user asks about one of the recommended shows — Paramount+'s "Younger" is the example used in the document — Alexa shares a one-line summary. 'World's best personal assistant'Other video search features listed in the document include semantic search and personal recommendations.

☆ Chegg crashes 49% after the education company says the rise of ChatGPT among students is impacting customer growth
▼ + stars: | 2023-05-02 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Chegg stock crashed 49% on Tuesday after the education company said students are increasingly using ChatGPT for homework help. First-quarter earnings beat analyst estimates, but that wasn't enough to stem fears that ChatGPT is a serious threat to Chegg. The education company sells subscription memberships to an online portal that helps students study for tests and complete homework. First-quarter earnings beat analyst estimates as Chegg saw little impact on its business from ChatGPT early in the quarter. We now believe it's having an impact on our new customer growth," Chegg CEO Dan Rosensweig said on the company's earnings call.

☆ Who’s the next Chegg? A.I. could threaten the main revenue sources for these companies
▼ + stars: | 2023-05-02 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Tuesday's selloff in Chegg shares exposed some investors to the dark side of artificial intelligence, igniting concerns about how the latest technology craze may be putting some companies' revenue sources in danger. CHGG 1D mountain Chegg shares plummet on AI risks While Chegg may be the first shoe to drop, it's certainly not the last company set to showcase some of the risks posed by AI. Elsewhere, Deepwater Asset Management's Gene Munster sees potential risks ahead to some consulting companies known to outsource work for other businesses. Companies operating off of seat-based models, such as human resources companies, may face headwinds from declining headcount, but could benefit long term from optimizing AI, he added. To be sure, even the largest companies dominating the space and poised to prosper from AI face risks ahead.

☆ GC Agenda: May 2023
▼ + stars: | 2023-05-01 | by ( Practical Law The Journal | ) www.reuters.com time to read: +23 min

Clawback Listing StandardsPublic companies should be aware that proposed NYSE and Nasdaq clawback listing standards may be in place earlier than expected. Organizations may use biometric data in a variety of ways, including when:tracking employee time; restricting access to physical and digital assets; monitoring consumer shopping behavior; and integrating biometric data into consumer products and services. Consider whether the organization’s current policies and procedures meet applicable biometric data handling requirements, including notice, consent, retention, storage, and security obligations. Review applicable laws and obligations when contracting with service providers that handle biometric data and continuously monitor their performance. In February 2023, the NYSE and Nasdaq filed proposed new listing standards, which contemplated that they could become effective as early as April 27, 2023.

☆ Amazon, Microsoft and Alphabet deliver slower cloud growth. Here's how AI could reverse that trend
▼ + stars: | 2023-05-01 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

As more and more businesses of all sizes continue their digital transformations, Amazon, Microsoft and Alphabet aim to be there to provide cloud solutions. However, those gains quickly evaporated as the post-earnings call got underway and Wall Street learned of slowing cloud growth in April , the first month of Q2. The company is now using AI as a tool to accelerate cloud growth and gain share. The Club's take: Microsoft demonstrated impressive cloud growth given the difficult macroeconomic backdrop for the quarter. We hope to see a reacceleration in cloud growth along with profitability momentum.

☆ ChatGPT, Generative AI, and LLMs for Litigators
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +23 min

What are the basics litigators should know about how generative AI and LLMs work? Generative AI is a type of AI that generates new content or data in response to a prompt, or question, by a user. LLMs are an advanced form of generative AI that are the basis for generative pre-trained transformer (GPT) platforms, such as ChatGPT. What are the primary ethical pitfalls of using generative AI and LLMs, and how can litigators avoid them? What types of procedural and substantive issues are likely to arise in litigation stemming from the use of generative AI and LLMs?

☆ The big cybersecurity risks when ChatGPT and AI are secretly used by employees
▼ + stars: | 2023-04-30 | by ( Mikaela Cohen | ) www.cnbc.com time to read: +3 min

Soaring investment from big tech companies in artificial intelligence and chatbots — amid massive layoffs and a growth decline — has left many chief information security officers in a whirlwind. But not every company has its own GPT, so companies need to monitor how workers use this technology. PCs were similar, so we're seeing the equivalent now with generative AI." "If you're a corporation, you don't want your employees prompting a publicly available chatbot with confidential information," Chui said. Protection of confidential information, regulation of where the information gets stored, and guidelines for how employees can use the software — all are standard procedure when companies license software, AI or not.

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