Agile: AI Updates - Week of [08/26/24]

The latest AI newsletter updates every week.

Overview - California passed two AI bills to boost transparency and safety. Nvidia launched StormCast for better weather forecasts, and OpenAI enabled GPT-4o finetuning for more customization. Microsoft released Phi 3.5 for AI research, while Runway’s new tool speeds up AI video creation. Lastly, Amazon’s AI saved thousands of developer-years by automating tasks, and AMD acquired ZT Systems to strengthen its AI infrastructure.

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1. California Passes Significant AI Bills

• The California legislature passed two major AI bills, AB 2013 and SB 1047, aimed at increasing transparency and safety in AI development. AB 2013 mandates transparency about the data used to train generative AI systems, while SB 1047 requires developers of large AI models to implement significant safety measures and provides whistleblower protections for employees.
  

2. GPT-4o Finetuning Now Available

• OpenAI has made finetuning available for GPT-4o, allowing developers to customize the model for specific tasks and applications. This development is expected to enhance the versatility and applicability of GPT-4o in various industries.

3. Microsoft Releases Phi 3.5 Open-Source Models

• Microsoft has released Phi 3.5, a set of open-source language and vision models. These models are designed to advance AI capabilities in both natural language processing and computer vision, making them accessible for broader research and development.

4. Nvidia Unveils AI Model StormCast for Weather Prediction

• Nvidia introduced StormCast, an advanced AI model designed for weather prediction. This model aims to improve the accuracy and timeliness of weather forecasts, which could have significant implications for disaster preparedness and climate research.

5. Amazon Q Saves 4,500 Developer-Years of Work

• Amazon's AI tool, Amazon Q, has reportedly saved 4,500 developer-years of work by automating various development tasks. This tool exemplifies the growing impact of AI in streamlining and optimizing software development processes.

  
  

6.  Runway’s Gen-3 Alpha Turbo for AI Video Creation

• Runway has launched Gen-3 Alpha Turbo, a new tool that accelerates the creation of AI-generated videos. This tool allows users to produce videos faster than they can type, showcasing the rapid advancements in generative AI technology.

  
  

7. AMD to Acquire ZT Systems for $4.9 Billion

• AMD has announced its acquisition of ZT Systems for $4.9 billion. This move is part of AMD's strategy to strengthen its AI ecosystem and expand its infrastructure capabilities.

8. Lloyds Banking Group Appoints New AI Director

• Lloyds Banking Group has named Rohit Dhawan as its new group director of AI and advanced analytics. This appointment highlights the increasing importance of AI leadership in financial institutions.

9. CIBC to Hire 200 New Data and AI Roles

• CIBC announced plans to hire 200 new data and AI professionals over the next 12 months. This move underscores the growing demand for AI talent in the banking sector.

  
  

10. CaixaBank Launches GalaxIA Project

• CaixaBank is doubling down on generative AI with the launch of its GalaxIA project. This initiative aims to leverage AI to enhance customer service and operational efficiency.