Agile: AI Updates - Week of [08/19/24]

The latest AI newsletter updates every week.

Overview - Investor enthusiasm in AI is waning, as share prices of major AI firms have dropped 10% due to profitability concerns. Meanwhile, AI is being explored for its potential in managing pandemics, improving iPhone 16 features, and enhancing customer service and environmental monitoring efforts.

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1. AI Hype Declines Among Investors

• Artificial intelligence is experiencing a decline in investor enthusiasm, with concerns about its profitability growing. The share prices of leading AI firms have dropped by 10% since their peak last month, reflecting this sentiment.
  

2. AI's Role in the Next Pandemic

• There is ongoing discussion about how AI could assist in managing future pandemics. AI's potential to predict outbreaks, manage resources, and develop treatments is being explored, highlighting its importance in global health crises.

3. Apple Leverages AI for iPhone 16

• Apple is banking on AI to boost the sales of its new iPhone 16. The company is integrating advanced AI features to enhance user experience and differentiate its product in a competitive market.

4. AI in Customer Service Translation

• Alorica, a customer service company, has introduced an AI translation tool that allows representatives to communicate with customers in 200 languages and 75 dialects. This innovation is expected to improve efficiency and customer satisfaction.

5. AI in Environmental Monitoring

• Columbia Engineering and Columbia Climate School have received a $2.7M grant for a project that uses AI to monitor and clean up plastic waste in waterways. This initiative aims to address the critical issue of plastic pollution with advanced AI technology.

  
  

6. AI in Drive-Thrus

• Taco Bell has rolled out voice AI at its drive-thrus to streamline the ordering process and improve customer service. This move is part of a broader trend of integrating AI into everyday business operations.

  
  

7. AI and Job Security Concerns

• A significant portion of IT professionals are worried about AI making their skills obsolete. Despite these concerns, many are actively updating their AI skills to ensure job security, reflecting the transformative impact of AI on the workforce.

  
  

8. AI in Credit Risk Management

• The Consumer Financial Protection Bureau (CFPB) has commented on the uses, opportunities, and risks of AI in credit risk management. This highlights the regulatory focus on ensuring AI is used responsibly in financial services.

9. AI in Healthcare

• AI is being used to identify high-risk heart patients, showcasing its potential to revolutionize healthcare by providing more accurate and timely diagnoses.

  
  

10. AI in Mental Health

• AI is showing positive strives toward mental health care by diagnosing conditions, developing therapies, and enabling more personalized treatments. AI tools, such as chatbots and wearables, are being used to offer advice, monitor symptoms, and predict patient non-compliance, thereby improving overall patient care.