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18 Oct 2024

Google Consolidates AI Efforts: Merges Gemini Team with DeepMind

Google has announced the integration of its Gemini AI team into DeepMind, continuing its efforts to streamline AI research and development. This move aims to accelerate AI innovation and maintain Google's competitive edge in the rapidly evolving field.

9 Sources

U.S. Treasury's AI-Powered Fraud Detection System Recovers Billions in 2024

The U.S. Treasury Department has successfully implemented an AI-driven fraud detection system, recovering and preventing over $4 billion in fraudulent or improper payments in 2024, marking a significant increase from previous years.

10 Sources

Tech Sector Faces Uncertainty Amid Q3 Earnings and AI Growth Prospects

The tech sector experiences turbulence as Q3 earnings reports reveal mixed signals, particularly in the semiconductor industry. While concerns arise over consumer tech demand, the long-term AI growth story remains strong, presenting both challenges and opportunities for investors.

2 Sources

Adobe and Autodesk: AI Integration Drives Growth Amid Fierce Competition

Adobe and Autodesk are leveraging AI to enhance their software offerings, driving growth and maintaining competitive edges in their respective markets. Both companies face challenges but show promise in AI-driven innovations.

6 Sources

Intel Shifts AI Strategy: Focuses on Cost-Effective Solutions with Gaudi 3 Chips

Intel repositions its AI strategy, focusing on cost-effective solutions with Gaudi 3 chips for businesses needing economical AI systems, moving away from competing directly with Nvidia in high-end AI training.

2 Sources

Simplismart Raises $7M to Revolutionize Enterprise AI Deployment with High-Performance Inference Engine

Simplismart, an AI startup founded by ex-Oracle and Google engineers, secures $7 million in Series A funding to enhance its MLOps platform and inference engine, aiming to simplify AI adoption for enterprises with improved performance and control.

4 Sources

Veea and ICT Partner to Revolutionize Mining Operations with Advanced AI-Driven Connectivity Solutions

Veea, a pioneer in AI-driven cybersecurity and hyperconverged networks, collaborates with ICT to bring cutting-edge wireless connectivity and asset tracking to remote mining operations in Southeast Asia, enhancing safety and efficiency.

2 Sources

Zerve Raises $7.6M to Revolutionize AI and Data Science Collaboration

Limerick-based startup Zerve secures $7.6 million in seed funding to enhance its AI and data science development platform, aiming to streamline collaboration and accelerate project cycles.

2 Sources

Schneider Electric Acquires Motivair for $850 Million, Boosting AI Cooling Solutions

Schneider Electric acquires a 75% stake in Motivair Corporation for $850 million, enhancing its liquid cooling technologies for data centers and AI applications. The move aims to address the growing thermal management needs in high-performance computing.

2 Sources

Meta Faces Criticism for Labeling AI Models as 'Open-Source'

The Open Source Initiative criticizes Meta for calling its Llama AI models "open-source," arguing that the term is being misused and could harm the development of truly open AI technologies.

2 Sources

AI in Financial Markets: Efficiency Boost with Potential for Increased Volatility

The International Monetary Fund reports on the dual nature of AI adoption in financial markets, highlighting both its potential to enhance efficiency and the risks of increased market volatility.

4 Sources

NVIDIA's Open-Source AI Model Nemotron-70B Outperforms GPT-4 and Claude 3.5

NVIDIA quietly released a new open-source AI model, Llama-3.1-Nemotron-70B-Instruct, which has reportedly outperformed leading models from OpenAI and Anthropic in benchmark tests, signaling a shift in NVIDIA's AI strategy.

6 Sources

RCO Finance: The Next Big Thing in AI-Driven Crypto Trading?

RCO Finance (RCOF) emerges as a new player in the cryptocurrency market, offering AI-powered trading solutions and promising high returns. The platform's features and potential are compared to the success stories of Dogecoin and Shiba Inu.

3 Sources

Iktos Appoints New Scientific Advisory Board to Accelerate AI-Driven Drug Discovery

Iktos, a leader in AI and robotics for drug discovery, has appointed a new Scientific Advisory Board comprising five renowned experts to enhance its AI-first drug discovery platform and advance its pipeline.

2 Sources

17 Oct 2024

ShiftPixy Acquires AI Firm TurboScale in $150M Deal to Enhance Workforce Management

ShiftPixy, a gig economy platform, signs LOI to acquire TurboScale, an AI technology company, for $150 million to integrate advanced AI solutions into its workforce management services.

4 Sources

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