Your AI Snapshot

Apple banks on AI to boost iPhone 16 sales, with high stakes riding on the success of its flagship product. Palantir Technologies announced a new enterprise agreement with oil and gas major BP for its AI and data platforms. China’s core AI industry achieved a market size of nearly CNY 600 billion. 90+ nations, including the U.S. and China, convene in Seoul for a two-day summit to establish a blueprint for the use of AI in the military. Washington Post and Virginia Tech collaborate on AI news search tool.

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Media & Entertainment

XTR acquires AI studio Late Night Labs and launches Asteria Film Co. to produce animation, film, and television content.

Amazon to allow Audible narrators to clone their voices with AI offering creative control and title-by-title compensation.

Roblox announces new AI tool for generating 3D game worlds from text, aiming to streamline and simplify game creation on the popular online platform.

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Retail & Consumer Goods

Colgate-Palmolive deploys AI to drive growth and productivity, focusing on revenue management, advertising, and cost savings.

Family Dollar implements AI for category management and merchandising partnering with Dunnhumby to localize product assortments.

Amazon announces the launch of Rufus, a new generative AI-powered conversational shopping assistant, in the UK.

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Healthcare

OpenAI and Thrive Capital back the six month old AI biotech startup Chai Discovery with $30M to advance drug discovery.

Roche, a global pharmaceuticals and diagnostics company, advances AI-driven cancer diagnostics by expanding its digital pathology open environment.

Radnet’s DeepHealth, a global leader in AI-powered radiology and health informatics and HOPPR forge partnership to advance AI in healthcare.

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Technology

OpenAI announces over 1 million paying users for its business products including ChatGPT Enterprise, Team and Edu, as adoption continues to grow.

Unilever and Accenture Safe Superintelligence (SSI) raises $1 billion in generative AI-powered productivity.

OpenAI co-founder Sutskever's new safety-focused AI startup releasing new usage data showing significant growth in funding.

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Banking & Insurance

SMB-focused bookkeeping, accounting and finance startup– Finally raised $50 million in a Series B, round of funding and secured a $150 million credit line.

Mastercard and National Bank of Egypt collaborate on AI-powered digital employees for enhanced digital banking experience.

Regtech market to grow by USD 25.2 billion from 2024 to 2028, driven by demand for financial crime detection.

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Miscellaneous

General Dynamics Information Technology (GDIT) acquires Iron EagleX to strengthen AI, ML, cyber areas.

AI tutor designed for physics course doubles engagement; Harvard professors' study to be published soon.

UN Secretary-General called for global cooperation in sharing the transformative potential of AI , technology equally.

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Business Stories: AI in Action

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