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Today’s Headlines:

• Meta releases early versions of its Llama 3 AI model - Meta released early versions of its latest large language model, Llama 3, and an image generator that updates pictures in real time while users type prompts. The models will be integrated into virtual assistant Meta AI. Llama 3 8B, which contains 8 billion parameters, and Llama 3 70B, which contains 70 billion parameters — as a “major leap” compared to the previous-gen Llama models performance wise.

• Meta adds its AI chatbot, powered by Llama 3, to the search bar across its apps - Meta has upgraded its AI chatbot with Llama 3, and it is now running it in the search bar of its four major apps, Facebook, Messenger, Instagram, and WhatsApp across multiple countries. Alongside this, the company launched other new features, such as faster image generation and access to web search results.

• EU Regulators Set to Clear Microsoft’s $13B OpenAI Investment - EU antitrust regulators have reportedly determined that Microsoft’s $13 billion investment into OpenAI will not trigger a formal investigation. In an effort to mitigate potential probes and bolster its standing in the AI landscape, Microsoft has been actively seeking partnerships with other AI firms. Earlier this year, the tech giant announced a collaboration with French startup Mistral AI.

• Stable Diffusion 3 API Now Available - Stable Diffusion 3 and Stable Diffusion 3 Turbo are now available on the Stability AI Developer Platform API. We have partnered with Fireworks AI, the fastest and most reliable API platform in the market, to deliver Stable Diffusion 3 and Stable Diffusion 3 Turbo. In keeping with our commitment to open generative AI, we aim to make the model weights available for self-hosting with a Stability AI Membership in the near future.

• TSMC posts rise in profit, expects Q2 sales to jump on 'insatiable' AI demand - TSMC, the world's largest chipmaker and a major Apple and Nvidia supplier, forecast second-quarter sales may rise as much as 30% as it rides a wave of demand for semiconductors used in artificial intelligence (AI) applications. "AI-related data centre demand is very, very strong," he said, adding that the shift from traditional servers to AI servers is "favourable" to TSMC.

• Oracle to invest over $8 billion in Japan in cloud computing, AI - Oracle will invest more than $8 billion over the next 10 years to meet demand for cloud computing and AI infrastructure in Japan, and will also expand its operations and support engineering teams with Japan-based personnel.

• NYC high schooler creates astonishingly accurate AI algorithm for 911 callers to get help they actually need - “If the algorithm says, ‘I think it’s a mental health call,’ then you can send a psychiatrist or a mental health professional with the EMS crew to assist the patient and provide the more appropriate care” — instead of simply rushing police to the scene. “It’s saving time for the patient — and the city as well,” he said. “And it’s also able to free up an ambulance much faster.” The model has an uncanny 94.5% success rate — 2.2% higher than its human counterparts!

• How AI is changing the claims industry – for the better - The Claims Brain uses AI to recognize keywords and phrases, with the goal of maximizing opportunities for recovery. This innovation has significantly impacted file handlers, enabling them to oversee the collection of salvage and other subrogation opportunities more efficiently, ultimately aiding in fraud prevention, positively influencing the bottom line in terms of expenses and recovery.

• Artificial intelligence tools improve skin cancer diagnostic accuracy - Practitioners not using AI were able to accurately diagnose 74.8% of skin cancer cases and correctly flag 81.5% of patients with cancer-like skin conditions who did not have cancer. Those working with aid from AI correctly identified 81.1% of skin cancer cases and 86.1% of cancer-like skin conditions.

• Consilience.ai Unveils AlphaIQ Platform for Instant and Verifiable Insights for Financial Analysis - By harnessing the power of its Quantitative Linguistics platform, AlphaIQ allows financial and investment professionals to immediately uncover nuanced insights from this traceable, generative AI tool trained using decades of historical data across industries, sectors, and companies, setting a new standard in the financial technology sector.

• AI may help older adults manage multiple medications - "Our findings suggest that AI-based tools can play an important role in ensuring safe medication practices for older adults," said lead researcher Arya Rao, a student at Harvard Medical School. "It is imperative that we continue to refine these tools to account for the complexities of medical decision-making."

• AI startup Stability lays off 10% of staff after controversial CEO’s exit - Stability AI made more than 20 of its employees redundant to “right-size” the business after a period of unsustainable growth. The AI startup’s co-CEOs Shan Shan Wong and Christian Laforte told employees the company had to “restructure parts of the business, which will sadly mean saying goodbye to some colleagues.”

• Cisco debuts new AI-focused security system after $28 billion deal to buy Splunk - Cisco launched HyperShield, a new security product that uses AI to protect applications, devices, and data across data centers, clouds, and physical locations. HyperShield was designed with a new world of digital AI assistants like ChatGPT in mind. The technology acts like a “fabric,” rather than a “fence,” giving cyber workers better visibility of software vulnerabilities across applications, and taking security directly to the things that need to be secured.

• Slack AI now available to all paid users for $10 more a month - Slack’s generative AI add-on offers access to features including enhanced search, channel recaps, and a ‘daily digest.’

• Microsoft and U.S. join AI forces in UAE deal to elbow out China - Microsoft's made a $1.5 billion partnership with G42, a government-backed tech-investing giant in the UAE. G42 will strip equipment made by China-based Huawei from its systems, and will get to put the UAE's homegrown AI models on Microsoft's Azure platform. Microsoft will get much of its investment back as G42 pays for its Azure cloud services.

• ChatGPT is a squeeze away with Nothing’s upgraded earbuds - Nothing today announced a pair of refreshes to its earbud line. If you have the ChatGPT app installed on a connected Nothing handset, you’ll be able to ask the generative AI program questions with a pinch of the headphones’ stem. Think Siri/Google Assistant/Alexa-style access on a pair of earbuds, only this one taps directly into OpenAI’s wildly popular platform.

• LinkedIn testing Premium Company Page subscription with AI-assisted content creation - A new LinkedIn Premium Company Page subscription, which — for fees that appear to be as steep as $99/month — will include AI to write content and new tools to grow follower counts, among other features to raise the profiles of the company using them.

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