Your Biweekly AI Snapshot

Advancement galore: Google I/O 2024 unveils a suite of AI-driven features and enhancements across its product lines, event highlight- Gemini 1.5 pro with 2 million token context window. ‘Dubai Generative AI Alliance’ launched to build a sophisticated tech-enabled government. Nvidia announces the highly anticipated new AI chip– Blackwell, at its GPU Technology Conference this week. OpenAI signs a 60 million deal with Reddit for real-time content access for the tech giant.

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Media & Entertainment

Social Media Platform– TikTok is testing a more robust search results page that’ll use Generative AI.

GenAI for filmmakers: Google announces Veo, its new generative AI video model capable of generating high-quality videos from text prompts.

Newspaper conglomerate Gannett introducing AI-generated summaries to the top of its articles, pilot in USA Today.

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Retail & Consumer Goods

Grocery chain Sainsbury's enters a 5-year partnership with Microsoft to use AI for data insights.

Smart Retail Tech Expo, 2024 to cover the transformational power of AI in its keynotes amongst rising interests of retailers in GenAI.

Aiming to enhance customer service & operations, Canadian Tire introduces AI shopping assistant and humanoid robots

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Healthcare

Oxford University's department of psychiatry is conducting clinical trials for AI depression tool, Petrushka.

Ludwig Cancer Research scientists have developed an AI-driven model identifies potent cancer-killing immune cells for personalized immunotherapy.

US HHS announces Leading Edge Acceleration Projects (LEAP) in health IT special emphasis notice for AI and behavioral health for fiscal year 2024.

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Technology

OpenAI launches voice assistant Inspired by hollywood vision of AI, as a part of its flagship model, GPT–40.

Google is planning to double down on its emphasis on summary for SERP, aiming to roll out billions summaries by year end.

Meta, the parent company of Facebook, Instagram, & Whatsapp is launching new AI tools made for advertisers in their platforms.

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Banking & Insurance

A recent report by SkyQuest Technologies discloses the value of AI in banking, financial services & insurance to reach USD 180.93 Billion by 2031.

European neobank bunq bolsters AI-driven banking with AI Chatbot upgrade, and leverages embedded insurance with Qover.

Research from IFS shows that over 85 % of the firms are interested in integrating AI but lack of preparation has been holding back most of them.

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Miscellaneous

UK Government unveils new AI cybersecurity measures as ICO details importance of data protection.

Microsoft is set to invest 4 billion euros ($4.3 billion) in France as part of the annual 'Choose France' business summit last week.

Oracle stock jumps on report of a multi-year $10 Billion cloud deal with Elon Musk's AI startup xAI.

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Business Stories: AI in Action

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