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- 🧠 Europe is ready to regulate AI
🧠 Europe is ready to regulate AI
PLUS: Can AI save us from the productivity crisis?
Alan Buxbaum & Alex Valaitis
June 15, 2023
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Welcome back to Big Brain!
Everyone seems to have an opinion on AI these days. Some are ready to regulate it. Some are ready to invest in it. We have stories showcasing both today.
Today's AI spotlights:
Europe is ready to regulate AI 👨⚖️
Can AI save us from the productivity crisis? 🛟
Google Lens is identifying skin conditions 🤲
Via Julien Warnand/EPA
Europe is making history, pushing through the first comprehensive AI regulations. The law's got teeth - non-compliance could cost you up to 7% of your global revenue. Ouch.
The rules are tough but fair. Riskier AI applications, like hiring software or kid-targeted tech, have to be more transparent and use accurate data. Don't even think about social scoring systems or exploiting vulnerable folks.
AI's going to change lives, especially in sectors like employment and education. Europe's response? Make it transparent and reduce bias risk.
Chatbots weren't initially a big focus, but ChatGPT's rise changed that. Now, they're in the high-risk category, with a focus on documenting copyrighted material used for training.
Europe may not lead in AI development, but it's setting the regulatory pace. It's not just about enforcement either. Europe's trying to grow the AI market with these regulations, bringing trust and confidence to users.
Between the AI-doom'n'gloomers and the global-inflation crisis, the media is getting far too good at fear mongering.
We can all use a break from that, and so can BlackRock’s CEO.
Larry Fink sees AI as a potential solution to the persistent productivity and inflation issues. He believes in balancing investment with caution and excitement.
BlackRock is eager to extend its influence through strategic acquisitions and tech enhancements.
Despite political critiques, the company is staying focused on financial opportunities in the energy transition. In particular, it's expanding its tech offerings, as demonstrated by a deal with Avaloq.
Moreover, they're benefiting from a trend towards portfolio consolidation, securing numerous high-value contracts. Growth and self-disruption remain at the heart of their strategy.
📰 Read the Full Article Here (non paywall here)
Google Lens added a new feature to identify skin conditions, augmenting its utility in healthcare decisions. Bet you can't do that yet, Apple VR headset. 😁
Additionally, Lens is integrating with Bard to analyze user-submitted images. This "partnership" will enhance Bard's response capabilities as well.
These developments are part of Google's increased focus on generative AI technologies. This is resulting in added layers to Bard's abilities, such as self-coding and art generation.
Despite not being FDA-approved, these updates further boost the value proposition of Google's AI-driven services.
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