Daily AI NEWS - June 20, 2024
Nvidia, Adobe, and AI

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Nvidia's market cap reached $3.335 trillion, surpassing Apple, Google, and Microsoft. Ilya Sutskever left OpenAI to start Safe Superintelligence Inc. Adobe faces a US government lawsuit.

NVIDIA's Market Value Surge

Nvidia’s market cap closed on June 18th at $3.335 trillion, riding an AI boom powered by the company’s GPUs. This remarkable surge pushed it past Apple, Google, and Microsoft.

Explosive share price growth, driven by demand for its chips and an investor frenzy over artificial intelligence, has helped Nvidia leapfrog Microsoft and Apple to become the most valuable company in the world.

The company’s expansion into cloud services has given it leverage over its customers, like Amazon. This demonstrates Nvidia's growing influence in both computing hardware and cloud industries.

OpenAI and AI Safety Initiatives

Ilya Sutskever has launched Safe Superintelligence Inc. after leaving OpenAI. The new venture aims to create a powerful AI system, prioritizing AI safety. Sutskever is joined by former OpenAI researcher Daniel Levy and Daniel Gross, co-founder of Cue and ex-AI lead at Apple.

In a separate initiative, OpenAI has partnered with Color Health to enhance cancer care. The collaboration focuses on accelerating the treatment process, highlighting OpenAI's expansion into healthcare applications.

AI in Video and Media Generation

Luma has showcased its AI tool with reels featuring a Pixar-like movie and even a familiar character, demonstrating the potential of their text-to-video generator.

Runway introduced their Gen-3 Alpha AI video generator, capable of producing detailed humans and surreal scenarios, including scenes with giant cotton candy monsters.

TikTok's Symphony suite has launched, bringing generative AI to its platform to enhance creative content creation, while Google's new tool converts video visuals into synced audio using on-screen action and textual prompts.

Adobe's AI and Business Practices

Adobe has updated its terms of service, explicitly stating that user-created content won't be used to train its Firefly AI, unless uploaded to Adobe Stock. Meanwhile, Adobe's competitors are seizing the opportunity to attract customers.

Adobe is under scrutiny as the US government has sued the company, accusing it of hiding expensive fees and complicating the subscription cancellation process. The FTC claims Adobe's cancellation system is a deliberate deterrent.

Further allegations suggest Adobe locked users into costly Creative Cloud plans with misleading information. This legal challenge poses a significant threat to Adobe's reputation and business practices.

AI's Impact on Jobs and Economy

A 43-page IMF report warns of 'profound concerns' about massive labor disruptions and inequality due to AI. The report finds AI presents "significant risks" and recommends policymakers remain flexible. Similarly, a new Citi report indicates more than half of banking jobs could be automated by AI, but banks will be slow to adopt these changes.

Despite these risks, businesses are rushing to use generative AI, with companies often being slow and careful when adopting new tech, according to a Bain survey. In another development, Stanford researchers have achieved an AI breakthrough in the treatment for depression, leading to new methods in categorizing the illness.

In the realm of SEO, AI growth has led to changes in Google search business, impacting SEO and reshaping the industry. The intersection of AI and SEO is expected to cause significant chaos as these technologies evolve.

Selected articles of the day

How TikTok is bringing AI to its platform with ‘Symphony’

The short-form video app TikTok has launched ‘Symphony,’ a creative content suite that is powered by generative AI. The most… Continue reading How TikTok is bringing AI to its platform with ‘Symphony’ The post How TikTok is bringing AI to its platform with ‘S…

Read on ReadWrite

Stanford researchers lead AI breakthrough in treatment for depression

Brain scans combined with artificial intelligence (AI) have led to an important breakthrough in categorizing depression into six unique types.… Continue reading Stanford researchers lead AI breakthrough in treatment for depression The post Stanford researcher…

Read on ReadWrite

ChatGPT owner OpenAI moves into cancer care with new partnership

OpenAI has confirmed a partnership with Color Health to contribute to improved cancer care by accelerating the treatment process for… Continue reading ChatGPT owner OpenAI moves into cancer care with new partnership The post ChatGPT owner OpenAI moves into ca…

Read on ReadWrite

OpenAI co-founder Ilya Sutskever announces new startup to tackle safe superintelligence

Ilya Sutskever has been working on a rival AI lab to build safe superintelligence, the "most important technical problem of our time.

Read on VentureBeat

New UNESCO report warns that Generative AI threatens Holocaust memory

A UNESCO report published today warns that unless decisive action is taken to integrate ethical principles, AI could distort the historical record of the Holocaust and fuel antisemitism. The report cautions that not only can Generative AI enable malicious act…

Read on Unesco.org

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