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AI Updates of The Week – Here’s what you missed!

This week witnessed numerous notable developments in the AI and crypto industry, making it a significant time for both sectors. Here’s a recap of the major announcements you might have overlooked!

Worldcoin Launch Fuels Controversy Over Data Privacy and the Future of AI

The launch of Worldcoin, a digital ID crypto project, has sparked a debate over the future of decentralized identity and artificial intelligence (AI). The project aims to create a digital identity system based on iris scanning to differentiate humans from AI online. It claims to protect data privacy by using a decentralized blockchain and generating zero-knowledge proofs. However, it has faced criticism from privacy activists, cybersecurity experts, and crypto enthusiasts over concerns about data collection and informed consent.

Worldcoin’s launch saw significant sign-ups, but early reports suggested a lackluster response. The project is not available in the United States and primarily targets countries with fewer privacy regulations. Regulatory bodies in the United Kingdom and the European Union have expressed interest in investigating the project’s data collection methods. As AI technology continues to evolve, regulators will need to develop dynamic frameworks to ensure user privacy and security in such ventures.

Overall, Worldcoin’s launch has ignited discussions about the future of data privacy, AI, and the potential risks and benefits of centralized biometric databases.

Alibaba Unveils Open-Source AI Models Qwen-7B and Qwen-7B-Chat to Compete with Meta’s Llama 2

Chinese tech and e-commerce giant Alibaba has released two open-sourced artificial intelligence (AI) models, Qwen-7B, and Qwen-7B-Chat, from its cloud computing department. Each model contains 7 billion parameters and is a smaller version of the previously released Tongyi Qiawen. The aim is to introduce AI to small and medium-sized businesses, offering various capabilities such as coding, model weights, and documentation freely accessible to academics, researchers, and commercial institutions globally. 

Notably, these are the first open-sourced large language models (LLMs) from a Chinese tech company. However, businesses with over 100 million monthly active users will require a license. This release comes in response to Meta’s launch of its own open-sourced LLM, Llama 2, which features 70 billion parameters and necessitates a license for companies with over 700 million monthly users.

Samsung and Hyundai Lead $100 Million Funding Round for AI Chip Developer Tenstorrent

Tenstorrent, an AI chip developing company, has successfully closed a funding round worth $100 million, with major manufacturing companies Samsung and Hyundai taking the lead. The funding round saw $30 million from Hyundai, $20 million from Kia, and $50 million from the Catalyst Fund by Samsung, along with other participating investors such as Fidelity Ventures, Eclipse Ventures, and Maverick Capital. Led by CEO Jim Keller, who has previously developed AI chips for tech giants like Apple, Intel, and Tesla, Tenstorrent plans to use the funds to accelerate product development, design and develop AI chipsets, and advance its machine learning software roadmap. 

The investment comes amid fierce competition in the AI chip market, with companies like Nvidia being the current leader. However, the industry is also facing export restrictions, with the U.S. subjecting companies to limitations primarily targeting China, one of the major markets for these chips.

Goldman Sachs Predicts AI Investment Boom Surpassing Electricity and PCs, Anticipating $200B Investment by 2025

Economists at Goldman Sachs have projected that artificial intelligence (AI) investment could have a more substantial financial impact on the American economy than previous technological revolutions like electricity and personal computers. The investment banking giant’s report suggests that AI may attract up to $200 billion in global investments by 2025, with half of that amount in the United States, potentially boosting the country’s gross domestic product (GDP) by up to 4%. 

The expected gains are largely attributed to rapid advancements in generative AI technology, such as OpenAI’s ChatGPT, with enormous economic potential to enhance global labor productivity. However, for businesses to benefit from these gains, significant upfront investments in physical, digital, and human capital will be required to adopt and implement new technologies and reshape processes. The report highlights the increasing integration of AI by companies, particularly in the United States, positioning the nation as a market leader in AI technology and potentially leading to a significant investment impact post-2025.

Grammy CEO Harvey Mason Jr. Discusses AI’s Role as a ‘Creative Amplifier’ in the Music Industry

Harvey Mason Jr., CEO of the Recording Academy, recently discussed the integration of artificial intelligence (AI) in the music industry. The Recording Academy updated its guidelines for the Grammy Awards nominations to include AI-generated music, allowing it to be nominated but emphasizing that the human contribution must be significant, particularly in categories like songwriting. Mason believes that AI can act as a “creative amplifier” rather than a replacement for human creativity. He mentioned examples of AI being used in music production tasks, like frequency analysis and vocal cleanup. 

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While AI’s potential excites him, he emphasizes the need for fair and inclusive practices to ensure artists receive proper credit and compensation. Mason believes that while AI may create innovative music, the human experience and emotion in music cannot be fully replicated by AI. The future of music may involve a symbiosis between AI and human creativity.

These are some of the latest developments in the Artificial Intelligence industry! Stay tuned for more!

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