Your AI Snapshot

Tech giants Apple and Meta pursuing AI collaboration. China's ByteDance working with Broadcom to develop advanced AI chip. Google introduces project naptime for AI-powered vulnerability research. Meta unveiled new AI models including multi-modal systems, next-gen language models, music generation, AI speech detection. Semiconductor giant Broadcom has joined the race with Nvidia for a piece of the lucrative AI chip market. OpenAI goes on a buying spree as AI looks to open up M&A, IPO markets.

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Media & Entertainment

NBC introduces AI version of the legendary Al Michaels to narrate daily highlights during the upcoming Olympics on Peacock.

For the second year in a row, generative AI was a main theme at Cannes Lions 2024 with explorations of its practical applications.

SmithGeiger’s Q2 2024 survey results reveal that audiences are still skeptical, but gradually warming up to AI-generated news content.

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Retail & Consumer Goods

Sequoia and Meritech raised $46 million from venture capital investors for AI sales and marketing startup Clay now valued at $500 million.

Shopify is offering merchants early access to a commerce-focused artificial intelligence assistant dubbed Sidekick.

Instacart has partnered with Price Chopper and McKeever’s Market & Eatery to introduce its AI-powered smart carts, known as Caper Carts.

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Healthcare

Scientists developed an AI tool that uses routine clinical data to identify cancer patients likely to respond to checkpoint inhibitor immunotherapy drugs.

UCF College of Medicine scientist are using AI to speed up research and drug discovery for the new tuberculosis antibiotics.

The Coalition for Health AI (CHAI) has released its draft framework for responsible development and deployment of AI in healthcare.

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Technology

Google introduces new AI-powered elements to Google Analytics, in order to help marketers make more informed decisions.

Camb.ai and Seeing Red Media forge groundbreaking partnership to preserve indigenous languages in US.

The Global Generative AI Market was valued at USD 14.17 Billion in 2023, and is expected to reach USD 96.36 Billion by 2029, rising at a CAGR of 37.64%.

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Banking & Insurance

SoftBank Group Corp's new tab Vision Fund 2 is investing between $10 million and $20 million in U.S. search startup Perplexity AI at a valuation of $3 billion.

EU launches two initiatives aimed at gathering insights from financial market stakeholders regarding the application of AI in the financial sector.

Earnix announces strategic collaboration with NTT DATA to drive insurance innovation and enhance customer capabilities with AI

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Miscellaneous

New Jersey welcomes ‘artificial intelligence moonshot’ to schools while developing new state guidance to help school districts pioneer the technology.

University of Texas at Dallas researchers have developed an AI model that could help electrical grids prevent power outages.

A Defense Department research project has seen success in using AI and ML to manage and declassify records.

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Business Stories: AI in Action

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