The Cutting Edge of AI: Recent Updates and Innovations

1. Balancing AI Safety and Growth: President Biden's Recent Executive Order

US President Joe Biden has recently approved a comprehensive executive order (EO) regarding artificial intelligence (AI), with a strong emphasis on the importance of companies disclosing possible hazards linked to their AI systems. These risks could potentially be exploited by nations or terrorist groups to develop weapons of mass destruction.

Although the primary focus of this order is centered on enhancing safety and security in AI, it also includes provisions designed to promote and encourage the growth of AI technology within the United States.

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2. Goldman Sachs Predicts Generative AI's Game-Changing Impact on the Global Economy

Goldman Sachs has released a recent forecast, suggesting that generative AI is poised to exert a substantial influence on the worldwide economy. They project that it could potentially contribute to a growth in GDP of up to 15% in the coming decade, a development with far-reaching consequences for businesses of varying scales.

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3. Innovation in AI: Meet Zephyr 7B Beta by Hugging Face

Hugging Face has introduced Zephyr 7B Beta, an innovative AI model that surpasses the performance of larger AI models, including ChatGPT. This model underwent training on a dataset of human preferences, enhancing its ability to produce responses that are both informative and contextually relevant.

AI Funding

• Vespa.ai, a prominent AI-driven search platform and scaling engine, recently secured $31 million in Series A funding from Blossom Capital. This funding infusion is intended to drive the further enhancement of Vespa, its search platform, and the Vespa Cloud service.

  Blossom Capital, a London-based venture capital investment firm, is renowned for its focus on early-stage and seed-stage companies. The firm actively seeks investment opportunities in the information technology sector across the United States and Europe.

• Arteria AI, a prominent applied AI company, has recently concluded a successful funding round, raising $30 million. This infusion of capital elevates its total funding to $50 million. Arteria AI has established itself as a trusted partner for numerous prestigious financial institutions, including several global Tier 1 banks. The newly acquired funds will be strategically deployed to accelerate go-to-market initiatives and further advance its AI technology within the financial services sector.

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