Microsoft $2.7 billion cloud, Open AI dead Newsletter #11

📰Daily AI News Summary 📰

• Microsoft to invest $2.7 billion in Cloud & AI in Brazil 🇧🇷💻

• InDebted raises $60M to revolutionise debt collection with AI 💸🤖

• OpenAI as we knew it is dead 🚨⚠️

• Meta's AI-generated posts stir controversy 🧠📱

• DHS Cyber Exec issues warnings on generative AI dangers 🔒💡

Microsoft to make $2.7 billion cloud, AI investments in Brazil

We are committed to supporting the AI transformation in Brazil and ensuring it benefits everyone," Microsoft Chief Executive Satya Nadella said.Brazilian Vice President Geraldo Alckmin said the investment proves the country can be a global AI protagonist, and emphasized the renewable energy supply available in Brazil to power datacenters.The investments are part of the broader "Microsoft Mais Brasil" program disclosed by the U.S. tech giant in 2020 to reinforce its long-term commitment to the South American nation.Microsoft is set to expand its presence in Latin America by investing $2.7 billion in Brazil over the next few years. This major initiative will boost the country’s cloud and artificial intelligence capabilities, helping local businesses thrive with modern tech and driving economic growth across the region.

InDebted bags $60m to enhance debt collection with AI and machine learning

“InDebted is rewriting the narrative on debt collection, using technology and data to deliver ethical solutions that alleviate what has traditionally been a painful customer experience,” said Craig Blair, Co-founder and Partner at Airtree.Danny Gilligan, Co-Founder at Reinventure, also shared: “We first invested in InDebted’s seed round seeing the huge potential for efficiency gains by applying technology to a very large, manual industry. Since then, the team has continued to impress us by creating an empathetic solution to a difficult problem, becoming the only partner for organisations who are serious about customer experience.”This capital will enable us to further expand our operations around the world, where we’re experiencing significant demand for the solution we provide. We’re launching in the UAE and Mexico next month, and following this we’ll be using the fresh capital to further our presence in Europe and South America.”-InDebted Founder and CEO, Josh ForemanAustralian fintech startup InDebted has secured $60 million in funding to improve its AI-driven debt collection solutions.

OpenAI as we knew it is dead

OpenAI, the company that brought you ChatGPT, just sold you out.Since its founding in 2015, its leaders have said their top priority is making sure artificial intelligence is developed safely and beneficially. They’ve touted the company’s unusual corporate structure as a way of proving the purity of its motives. OpenAI was a nonprofit controlled not by its CEO or by its shareholders, but by a board with a single mission: keep humanity safe.But this week, the news broke that OpenAI will no longer be controlled by the nonprofit board. OpenAI is turning into a full-fledged for-profit benefit corporation. Oh, and CEO Sam Altman, who had previously emphasised that he didn’t have any equity in the company, will now get equity worth billions, in addition to ultimate control over OpenAI.OpenAI is undergoing a significant transformation, signalling the end of its previous model. The company has shifted its focus from pure research to more commercial goals, raising concerns about the future of AI ethics, transparency, and collaboration/

Meta's new AI-made posts open a Pandora's box

Meta's plan to generate synthetic content tailored to individual users which attracted little notice this week amid a slew of product announcements opens a whole new Pandora's box in an AI world already full of them.Meta has been testing other ways its AI can become part of the conversations on its platforms, including making its tools available within Messenger and a since-scrapped test that had Meta AI posting in the comments sections of social media threads.Meta’s new feature allows AI to generate posts for users, sparking debates over creativity, privacy, and misinformation. While the tool enhances convenience, critics argue it could lead to unintended consequences, such as spreading false information and diminishing human interaction on social media platforms.

Exclusive: DHS Cyber Exec Warns of Dangers of Generative AI

U.S. government representatives have been largely bullish, at least publicly, about the benefits of artificial intelligence, particularly generative AI, while also acknowledging its risks and misuses. In order to try and organize and set up parameters for its use, the Office of Management and Budget issued a memo requiring agencies to put governance plans in place by Tuesday; it has also published a blueprint for an AI Bill of Rights, which lays out what U.S. citizens should and can expect from AI’s increased proliferation and its impact on their lives.A top cybersecurity executive at the U.S. Department of Homeland Security has cautioned against the potential risks of generative AI. As AI tools become more sophisticated, there are growing concerns about their misuse, particularly in areas like cybercrime, disinformation, and automated attacks, posing threats to national security.

Other References

1.https://cxotoday.com/specials/5-key-considerations-when-choosing-an-ai-cloud-platform/

2.https://www.bbc.com/news/videos/cdje9nz7ll1o

3.https://thehill.com/opinion/technology/4896879-artificial-intelligence-homeland-security/

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