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In today's big story, we're looking at the reshuffling of top executives at two of the biggest US banks . Viswas Raghavan, JPMorgan's top dealmaker, has joined Citi as its head of banking and executive vice chair, reporting directly to CEO Jane Fraser. The move is a big deal, but even more shocking since Raghavan was just promoted to be the sole head of JPMorgan's deals business. Since high interest rates aren't stopping stocks from reaching record highs, cuts might not come at all this year , according to analyst Jim Bianco. Market vet Ed Yardeni said interest rates are actually in a sweet spot for stocks, similar to the late '90s.
Persons: Viswas Raghavan, Jane Fraser, Raghavan, Filippo Gori, Doug Petno, Insider's Reed Alexander, Patrick T, Fallon, Fraser, Merrill Lynch, Andy Sieg, Warren Buffett, Warren, Berkshire Hathaway's, Jim Bianco, Ed Yardeni, Gemini, Demis Hassabis, Long, Alyssa Powell, they've, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock Organizations: Citi, JPMorgan, Warren, Warren Buffett REUTERS, Chip, Berkshire, Buffett, Research, Wall, BI, Google, eBay Locations: Bronx, Gori, Rivian, New York, London
Elon Musk is going to war with Google
  + stars: | 2024-02-27 | by ( Beatrice Nolan | ) www.businessinsider.com   time to read: +5 min
Elon Musk has been heavily criticising Google over the past week. Since the launch of Google's Gemini image generator, he's shared and replied to more than 100 posts about the company. Sharing a screenshot of one of Krawczyk's posts, Musk wrote : "This nut is a big part of why Google's AI is so racist & sexist." To give Musk some credit, Google's AI also appeared to be hard on him personally. After taking a similar issue with OpenAI's ChatGPT, Musk founded his own AI company and released Grok, a competing chatbot.
Persons: Elon Musk, , Elon, he's, Demis Hassabis, Musk, Jack Krawczyk, Gemini, Joseph Stalin, Adolf Hitler, Grok, OpenAI's, ChatGPT's Organizations: Google, Service, Big Tech, Gmail, Republicans, Krawczyk, BI, V1.5
Samsung has gone big on generative AI with its Galaxy S24 Ultra smartphone. When was the last smartphone supercycle? Smartphone makers have been dreaming of a "supercycle" in their industry, driven by AI, after a bruising few years that saw device sales slow aggressively. 'AI phone era'Major smartphone players are betting that a supercycle is about to happen thanks to AI. "We're right now at the dawning of an entirely new era, an AI phone era," Kitto said.
Persons: Kim Hong, they're, Francisco Jeronimo, Jeronimo, Ben Wood, Wood, James Kitto, Kitto, Brian Rakowski, Rakowski, We've Organizations: Samsung Electronics, Reuters, Reuters BARCELONA –, Samsung, Google, Galaxy, Apple, Financial Times, Mobile, Congress, Huawei, Qualcomm, IDC, Twitter, CNBC, 3G, CCS, Samsung's, Google's, Android Locations: Seoul, South Korea, Reuters BARCELONA, Chertsey , England
AdvertisementOne of the foremost figures in AI thinks prescription drugs designed by AI could reach clinical testing in a few years. Google DeepMind CEO Demis Hassabis discussed his prediction on an episode of The New York Times podcast "Hard Fork" released Friday. "I think we are very close," Hassabis said when asked about whether AI was close to being capable of helping cure a major disease like Alzheimer's or a cancer. "I would say we're a couple of years away from having the first truly AI-designed drugs for a major disease, cardiovascular, cancer." This story is available exclusively to Business Insider subscribers.
Persons: Demis Hassabis, Hassabis Organizations: Google, The New York Times, Business
Google introduced the image generator earlier this month through Gemini, the company's main suite of AI models. "We are hoping to have that back online very shortly in the next couple of weeks, few weeks." "The Gemini debacle showed how AI ethics *wasn't* being applied with the nuanced expertise necessary," Margaret Mitchell, chief ethics scientist at Hugging Face and former co-leader of Google's AI ethics group, wrote on X. On Sunday, a text-based user query went viral, asking the Gemini chatbot whether Adolf Hitler or Elon Musk's tweeting of memes had a greater negative impact on society. WATCH: Google's Gemini chatbot is 'evolutionary not revolutionary'
Persons: Demis Hassabis, Hassabis, Bard, OpenAI's, Gemini, Margaret Mitchell, Sundar Pichai, Pichai, Adolf Hitler, Elon Musk's, Elon Musk, Elon, Hitler, Sissie Hsiao Organizations: Google, Gemini, Mobile, Microsoft Locations: Barcelona, German, British, France, ChatGPT
Google DeepMind CEO Demis Hassabis addressed the Gemini debacle at Mobile World Conference. He said the company hopes to have the image generator online again in a "couple of weeks." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementGoogle DeepMind CEO Demis Hassabis said the company hopes to relaunch its artificial intelligence image generator as soon as the next "couple of weeks." Google paused access to its image generator last week after users found that the tool would produce historically inaccurate images, including racially diverse images of the US Founding Fathers and Nazis.
Persons: Demis Hassabis, Organizations: Google, Mobile World Conference, Service, Business
Apple | Spotify | Amazon | YouTube Listen and follow ‘Hard Fork’This week’s episode is a conversation with Demis Hassabis, the head of Google’s artificial intelligence division. We talk about Google’s latest A.I. models, Gemini and Gemma; the existential risks of artificial intelligence; his timelines for artificial general intelligence; and what he thinks the world will look like post-A.G.I. Additional listening and reading:
Persons: Demis Hassabis, Gemma Organizations: Apple, Spotify, YouTube
There are "major companies and verticals that have not even considered the H100" yet, he added, referring to Nvidia's AI must-have GPU. A few weeks ago, we combed through the latest earnings reports from Google-parent Alphabet, Microsoft, Meta Platforms and Amazon to see how their AI spending plans are benefitting Nvidia. After Wednesday evening's killer quarterly release, Nvidia talked about how it is helping the businesses of fellow Club names Google, Microsoft, Meta and Amazon. Alphabet continues to heavily invest in AI applications to improve the performance of its services including Google DeepMind, Google Services, Gemini, and Google Cloud. "Nvidia DGX Cloud will expand its list of partners to include Amazon's AWS, joining Microsoft Azure, Google Cloud and Oracle Cloud.
Persons: Jim Cramer, Jim, Jensen Huang, Colette Kress, Kress, Mark Zuckerberg, we've, Gemma, Satya Nadella, Copilot, Jim Cramer's, Omar Marques Organizations: Nvidia, Google, Microsoft, Meta, Companies, Nvidia H100s, Google Services, Gemini, Management, Amazon's AWS, Oracle, NVIDIA, Amazon Web Services, CNBC, Getty
In Gemini 1.5, improvements to the new tech are leaps and bounds above what the original Gemini can do. Gemini 1.5 Pro's context window capacity, however, can handle up to 1 million tokens. Gemini 1.5 is also getting better at generating good responses from super-long queries, without a user needing to spend much additional time fine-tuning their queries. Google says that in rolling out Gemini 1.5, it underwent extensive ethics and safety testing to greenlight it for wider release. The tech company has conducted research on AI safety risks and has developed techniques to mitigate potential harm.
Persons: , Sundar Pichai, Demis Hassabis, OpenAI's, Febrary, MoE Organizations: Service, Google, Gemini
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe year of the "AI app layer"Gil sees 2024 as the year that the “AI app layer” will start to crystalize, bringing the power of rapidly advancing foundation models to the masses. For someone with so much skin in the AI game, it’s notable that Gil’s portfolio does not include the big foundation models companies like OpenAI, Anthropic, and Cohere. Gil says he has been impressed with how quickly the legacy tech companies have moved to corner the market on cutting-edge AI research. But with the Biden administration’s more robust antitrust posture, Gil says there’s a lot of much-needed consolidation that’s not happening.
Persons: , OpenAI, Elad Gil, Harvey, Character.ai, “ We're, ” Gil, ChatGPT, Gil, Gil's, , “ they’ve, Biden, there’s Organizations: Service, Business, Twitter, Mixer Labs, Google, Apple, Fortune, “ Enterprises Locations: Airbnb, MistralAI, Silicon Valley
It is designed to assist with building new products, according to internal documents reviewed by Business Insider. “It can answer questions around Google-specific technologies, write code using internal tech stacks and supports novel capabilities such as editing code based on natural language prompts,” an internal summary of Goose reads. The documents note that the creation of Goose was a collaborative effort between Google Brain, DeepMind, and Google's internal infrastructure teams. And Goose isn't the only example of Google using AI to be more efficient. AdvertisementAnd if Googlers have specific development questions while using Goose, they're encouraged to turn to the company's internal chatbot, named Duckie.
Persons: , it’s, Gemini, , Ruth Porat, Goose, TKTKTK Goose, DeepMind, , Philipp Schindler, Business Insider’s, they're Organizations: Service, Business, Google, Microsoft
OpenAI wants to build a next-level personal assistant. The software is one of two AI agents the company is working on, The Information reported. AdvertisementOpenAI wants to build the ultimate personal assistant for the AI age. AdvertisementCEO Sam Altman has reportedly told some developers he wants to turn ChatGPT into a "supersmart personal assistant for work," a business move that may cause friction with partner Microsoft. Microsoft and Google have released early forms of AI agents for their respective workplace apps.
Persons: OpenAI, , Sam Altman, Mustafa Suleyman, Suleyman Organizations: Service, Microsoft, Google, CNBC, Business
One theme investors heard repeatedly from top execs is that, when it comes to AI, they have to spend money to make money. Last year marked the beginning of the generative AI boom, as companies raced to embed increasingly sophisticated chatbots and assistants across key products. One key priority area, based on the latest earnings calls, is AI models-as-a-service, or large AI models that clients can use and customize according to their needs. Alphabet executives highlighted Vertex AI, a Google product that offers more than 130 generative AI models for use by developers and enterprise clients such as Samsung and Shutterstock. Alphabet executives touted Google's Duet AI, or "packaged AI agents" for Google Workspace and Google Cloud, designed to boost productivity and complete simple tasks.
Persons: Sundar Pichai, Mandel Ngan, Satya Nadella, Mark Zuckerberg, Josh Edelson, Zuckerberg, Nadella, Amy Hood, Pichai, You've, durably, Ruth Porat, Andy Jassy, Jassy, Tim Cook, Cook, Thos Robinson, Microsoft's, Rufus, Bard Organizations: Artificial Intelligence, AFP, Getty, Microsoft, Apple, Nvidia, Meta, Google, Amazon, New York Times, Samsung, GE, Spotify, Pfizer Locations: Washington ,, Menlo Park , California, LLMs, New York City
AI talent is very much in demand, with some staffers from the likes of Stripe, Amazon, and Google making the switch to smaller upstarts. AI companies are using some of those funds to shell out on sizable salary packages to attract talent, according to data obtained by Business Insider. While salary transparency remains a problem in both Europe and the US, the latter has taken more steps to make salary data visible to employees and candidates. With considerable research prowess, Europe has become a hotbed for producing AI talent. Business Insider has pulled together salary data from some of the most in-demand AI companies that have published H1B salary data, including OpenAI, Anthropic, and Midjourney.
Persons: Sam Altman, queued, chunky, DeepMind's, Mustafa Suleyman Organizations: Google, Business, Mistral, Companies Locations: Europe, Atomico
Volkswagen, like other car giants, are pushing heavily into AI to boost their technology credentials and make their cars smarter. German automaker Volkswagen has established its own artificial intelligence lab, the company said Wednesday, reflecting growing ambitions from the car industry to adopt the buzzy technology. In a press release, Volkswagen said its new AI lab will serve as a "globally networked competence center and incubator" to produce proofs of concept in the field of the tech surrounding automotive innovations. AI labs are research and development hubs for exploring artificial intelligence breakthroughs. Volkswagen claimed it would bring its lab's AI innovations to its own vehicles to make them smarter.
Persons: Google's, Oliver Blume Organizations: Volkswagen, Microsoft, Volkswagen Group, Porsche AG, Benz
"I don't wanna get a Ph.D. but wanna work as a Machine Learning Engineer," an X user wrote, kicking off a debate. I don't wanna get a PhD but wanna work as a Machine Learning Engineer. AdvertisementOne respondent said a doctorate is only relevant for research, not machine learning engineering. The discussion comes as employers and would-be workers assess which skills and education are most useful as the AI job market booms. One X user's response to the original post pointed out that a Ph.D. is just one way to become a machine learning engineer.
Persons: , Tanay Mehta, Cristian Garcia, X Garcia, Garcia, Chris Foltz, Lindsey Duran, Alex Shapiro, Jasper AI Organizations: Service, Business, Google, IBM, Jasper
Sam Altman, CEO of OpenAI, during a panel session at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024. Altman was temporarily booted from OpenAI in November in a shock move that laid bare concerns around the governance of the companies behind the most powerful AI systems. In a discussion at the World Economic Forum in Davos, Altman said his ouster was a "microcosm" of the stresses faced by OpenAI and other AI labs internally. "We're already seeing areas where AI has the ability to unlock our understanding ... where humans haven't been able to make that type of progress. Avoiding a 's--- show'Altman wasn't the only top tech executive asked about AI risks at Davos.
Persons: Sam Altman, Google's DeepMind, Salesforce, Altman, chatbot, We've, it's, Aidan Gomez, OpenAI, Gomez, CNBC's Arjun Kharpal, AGI, it'll, Lila Ibrahim, Ibrahim, CNBC's Kharpal, who've, haven't, Marc Benioff, Elon Musk, Steve Wozniak, Andrew Yang, Geoffrey Hinton, Hinton, Benioff Organizations: Economic, Bloomberg, Getty, Microsoft, Union, ABC News, ABC, OpenAI, CBS Locations: Davos, Switzerland, United States, Cohere, Hiroshima
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInternational coordination is key to the regulation of AI: Google DeepMind COOLila Ibrahim, COO of Google DeepMind, says it's "also important to right-size the regulation so that we don't stifle the innovation."
Persons: Lila Ibrahim Organizations: International, Google
Daimon Labs, by contrast, had raised $1.5 million from a handful of VCs. It was around then that he started Daimon Labs alongside Dhruv Malik and Xiang Zhang to pursue the dream of what he calls "machines of loving grace". He ignored every metric of success for an AI model, except one: perplexity. It's a measure of how certain the AI model is of its predictions. But even with ruthlessly optimized hardware and that single-minded focus, Daimon Labs still couldn't afford to build the model Benmalek was envisioning.
Persons: , Ryan Benmalek, wouldn't, Benmalek, Isaac Asimov, Dhruv Malik, Xiang Zhang, Michael Lewis, Daimon, Brooklyn Organizations: Service, Business, Daimon Labs, The University of Washington, Cornell, Apple, Google, Nvidia, Labs, Lambda, Daimon Locations: Silicon, Seattle, Moneyball, Montreal, Brooklyn, North Carolina, Canada
AdvertisementThe annual World Economic Forum just wrapped up in Davos, Switzerland, and talk of artificial intelligence was just about everywhere. AdvertisementPlenty of companies touted their AI wares at the World Economic Forum in Davos this year. Related storiesAt Automation Anywhere, which, as its name suggests, works on automating work, the customer-service team shrank when AI was implemented. Others I spoke to agreed: Many businesses have small-scale AI experiments running, often with promising results so far. These AI projects are expensive, and not every company has the financial or human capital to pursue an ambitious AI strategy.
Persons: Matt Turner, , Sam Altman, Rob Goldstein, copilots, Jason Girzadas, he'd, Oliver Wyman, Deb Cupp, Mihir Shukla, Ana Kreacic, Shukla, Becky Frankiewicz, Lareina Yee, WEF, Satish H.C, Mustafa Suleyman, DeepMind, Kapilashram, Azeem Azhar, Dan Vahdat Organizations: Economic, Service, Tech, Infosys, IBM, Builder.ai, Cisco, Qualcomm, Salesforce, BlackRock, Deloitte, Microsoft, Oliver Wyman Group, Standard Chartered, McKinsey, Huma Therapeutics Locations: Davos, Switzerland
Mustafa Suleyman said the issue of AI replacing workers is an "open question" in the long term. The Google DeepMind cofounder said AI is a "fundamentally labor-replacing" tool in a CNBC interview. Since ChatGPT launched in 2022, there has been growing concern about AI technology. AdvertisementGoogle DeepMind's cofounder Mustafa Suleyman said AI is an "incredible technology" but that it is a "fundamentally labor-replacing" tool in the long-term, in an interview with CNBC's Squawk Box at the World Economic Forum in Davos on Wednesday . AdvertisementSome workers are concerned that AI will make their jobs obsolete because it can perform tasks like writing and coding .
Persons: Mustafa Suleyman, ChatGPT, , CNBC's, Suleyman, OpenAI's ChatGPT, there's, Erik Brynjolfsson Organizations: Google, CNBC, Service, Economic, Business, Stanford University Locations: Davos
Meta founder and CEO Mark Zuckerberg speaks during the Meta Connect event at Meta headquarters in Menlo Park, California, on Sept. 27, 2023. Meta is spending billions of dollars on Nvidia's popular computer chips, which are at the heart of artificial intelligence research and projects. In December, tech companies like Meta, OpenAI and Microsoft said they would use the new Instinct MI300X AI computer chips from AMD. Meta is currently training Llama 3 and is also making its Fundamental AI Research team (FAIR) and GenAI research team work more closely together, Zuckerberg said. Shortly after Zuckerberg's post, LeCun said in a post on X, that "To accelerate progress, FAIR is now a sister organization of GenAI, the AI product division."
Persons: Mark Zuckerberg, Zuckerberg, Raymond James, Meta, Yann LeCun, LeCun, Jensen Huang, Zuckerberg's, Kif Leswing Organizations: Meta, Nvidia, Zuckerberg, eBay, Microsoft, AMD, AI Research, FAIR, Apple Locations: Menlo Park , California, San Francisco
Read previewMustafa Suleyman, the cofounder of DeepMind, Google's AI division, says that AI will be able to create and run its own business within the next five years. During a Thursday panel on AI at the 2024 World Economic Forum, the now-CEO of Inflection AI was asked how long it would take for AI to pass an exam akin to the Turing test. He seems to believe that AI will be able to exhibit those business-savvy capabilities before 2030— and inexpensively. Earlier this week, Suleyman told CNBC at Davos that AI is a "fundamentally labor-replacing" tool in the long term. Advertisement"It will be able to reason over your day, help you prioritize your time, help you invent, be much more creative," Suleyman told CNBC.
Persons: , Mustafa Suleyman, Turing, Suleyman, Suleyman didn't Organizations: Service, Business, CNBC, Davos Locations: Davos, Switzerland
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe've hit 'peak hype' of the AI revolution, says DeepMind co-founder Mustafa SuleymanMustafa Suleyman, DeepMind co-founder and Inflection AI CEO and co-founder, joins 'Squawk Box' to discuss the AI revolution, the potential power and pitfalls of the technology, and more.
Persons: DeepMind, Mustafa Suleyman Mustafa Suleyman
Elon Musk speaks onstage during The New York Times Dealbook Summit 2023 at Jazz at Lincoln Center on November 29, 2023 in New York City. X.AI, an artificial intelligence startup founded by Elon Musk, has filed with the SEC to raise up to $1 billion in an equity offering. The AI startup, which Musk announced in July, seeks to "understand the true nature of the universe," according to its website. Last month, X.AI released a chatbot called Grok, which the company says is modeled after "The Hitchhiker's Guide to the Galaxy." — CNBC's Lora Kolodny contributed to this reportWATCH: Elon Musk's X.AI launches 'Grok'
Persons: Elon Musk, Musk, X.AI, didn't, OpenAI, Sam Altman, Google's Bard, Claude chatbot, Tesla, They've, DeepMind's AlphaCode, OpenAI's, — CNBC's Lora Kolodny, Elon Musk's X.AI Organizations: New York Times, Jazz, Lincoln Center, Elon, SEC, Google's, Nvidia, SpaceX, Boring Company, X Corp, DeepMind, Google Research, Microsoft Research, Twitter, Tesla, X.AI Locations: New York City, Nevada
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