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Happy Friday everyone,

We’ve got some awesome topics on the docket today. So let’s dive straight in!

Today's AI spotlights:

• Hugging Face gets $4B valuation 🤑

• ChatGPT in hot water over data collection 👀

• China tightens restrictions on generative AI 🪪

📢 AI TOOL OF THE DAY: CoPilot Search

CoPilot has launched the first ChatGPT plugin for car shopping, providing actionable AI-powered analysis & rankings!

• NEW: ChatGPT Plugin compares the best cars near you

• NEW: Generative AI in the CoPilot App recommends cars that match your needs... without dealer ads!

Take the grind out of car shopping, let AI find your next car for you!

🤑 HUGGING FACE GETS $4B VALUATION

AI startup Hugging Face is in line for some major cash. They're eyeballing a Series D round, with a target of $200M at a $4B valuation.

Ashton Kutcher's VC firm Sound Ventures is leading the scrum, but CEO Clément Delangue is also fielding other offers.

A year back, Hugging Face raised $100M at a $2B valuation. Despite less than $10M revenue in 2021, their run rate has spiked to $30M-$50M this year.

A standout in the AI sector, Hugging Face is based on open source models, pulling in profits from security and corporate tools.

All this, and their CEO is predicting the potential for "multiple $100 billion companies" in the AI space.

📰 Full Article Here (non paywall here)

👀 CHATGPT IN HOT WATER OVER DATA COLLECTION

Buckle up, folks. OpenAI, the mastermind behind ChatGPT, is under the FTC's radar.

The big question - is it playing fast and loose with user data and spewing falsehoods? The feds want to know how OpenAI vets its training info, blocks falsities from reaching its users, and safeguards data.

OpenAI is mum and FTC, tight-lipped. ChatGPT has been a stunner, kick-starting an AI contest with big boys Google and Meta joining the race.

And now, with increased scrutiny on AI, Uncle Sam's finally showing up to the wild AI party. Watch this space.

(Side note: ChatGPT has paused it’s web browsing feature indefinitely)

📰 Full Article Here

🪪 CHINA TIGHTENS RESTRICTIONS ON GENERATIVE AI

China's tightening the leash on generative AI...

New provisional rules announced Thursday outline required licensing for AI service providers.

Aimed at balancing tech growth and security, the guidelines generally enforce socialist values, ban discrimination, and mandate anti-addiction measures.

So, what exactly falls under the category of needing a license? Any algorithm that influences public opinion. And what if your chatbot breaks the law? Well, that's on on you to sort out...

That being said, China claims that it's all in on "self-reliant innovation" in AI, so it also won't say no to some "mutually beneficial" international cooperation.

All in all, does this handcuff innovation? We'll all have to wait and see.

📰 Full Article Here

📰 OTHER HEADLINES & STORIES

• Congress is trying to stop discriminatory algorithms again

• Spline, a no-code design tool for creating 3D assets, raises $15M

• Stability AI Cofounder Says Emad Mostaque Tricked Him Into Selling Stake For $100 (non paywall here)

• FTC investigating OpenAI on ChatGPT data collection and publication of false information

🛠️ AWESOME AI TOOLS

• iStory: The power of voice activated content is just an iStory away

• HireQuotient: A Great Hiring Story Begins with HireQuotient

• OpusClip: Turn long videos into viral shorts in 1 click

• Reals: Easily transform ideas into AI-generated videos in minutes

💼 AI JOBS

• AI Architect for STAND 8 Technology Services

• Raters for Tech Mahindra

• Competitive Coder AI Training for Scale AI

• Writer/SME - ML/AI for Crowd Content

🖼️ AI ART PIECE

Summer Memories — u/DirectorJumpy9782

🤖 CHATGPT PROMPT OF THE DAY

Hmmmm….🤔