Breaking AI News: EU Regulations, Next-Gen Models, and Profit Forecasts

Artificial Intelligence (AI) continues to make waves in technology, finance, and politics around the world. From concerns about the potential misuse of AI by cybercriminals to EU parliamentary committees approving the first-ever rules for AI systems, recent news highlights both the potential benefits and risks associated with the rapid advancement of AI technology. Additionally, tech giants like Google are unveiling next-generation language models, and companies like Palantir are forecasting profits on the back of high demand for their AI platforms.


This blog post will cover the latest AI news, including these developments and more, to keep you informed on the latest trends and breakthroughs in the world of AI.


Breaking AI News


Apple Co-founder Warns About Potential Misuse of AI by Cybercriminals


Steve Wozniak, the co-founder of Apple, has expressed concern over the possible exploitation of AI-powered tools by cybercriminals to create convincing online scams. Wozniak has called for the regulation of AI technology to limit its use by bad actors who are willing to deceive people to obtain sensitive information. He is worried that AI technology will fall into the wrong hands, leading to increased scams that are difficult to spot. According to a report by Goldman Sachs, AI technology is expected to impact an estimated 300 million workplace roles in the coming years.


However, Wozniak believes that the technology is open to abuse by cybercriminals, who can use it to clone a person’s voice and trick their friends or relatives into handing over money. To prevent fraudulent activities, it is essential to regulate the use of AI technology while ensuring innovation in a responsible and safe manner.


EU parliamentary committees approve first-ever rules for AI systems


The Internal Market Committee and the Civil Liberties Committee of the European Parliament have given their approval to the AI Act, which sets out new transparency and risk-management guidelines for artificial intelligence systems. The rules are designed to ensure that AI systems are safe, transparent, traceable, and non-discriminatory. The new law bans AI systems that pose an unacceptable level of risk to people's safety and prohibits the use of subliminal or manipulative techniques.


The legislation also promotes regulatory sandboxes for AI testing and exemptions for research activities and open-source AI components. The EU Parliament is expected to vote on the AI Act in June.


Citadel CEO Ken Griffin Discusses the Future of Finance and Technology with MIT Students


Citadel founder and CEO, Ken Griffin, visited MIT and shared his thoughts on how technology will continue to impact the finance sector. Griffin, whose firm is now one of the world's leading investment firms, predicts that the future of finance is all about the application of engineering, software, and mathematics to markets. Citadel and Citadel Securities, the market maker and investment arm, employ several hundred software engineers, and they have a huge investment in using modern technology to power their decision-making and trading. Griffin noted that there has been a moment in time where being a good statistician or understanding machine-learning models was sufficient to make money. However, that won't be the case for much longer.


He believes the rise of capabilities in large language models will transform a substantial number of white-collar jobs and that this is the first time we are seeing traditionally white-collar jobs at risk due to technology. Griffin urged students to work with the smartest people they can find and to take ownership of their careers.



Google unveils PaLM 2, a next-gen language model to outperform other AI systems


Google has launched PaLM 2, a new "next-generation language model" that the company claims will surpass other AI systems in certain tasks. The AI model can power chatbots, translate between languages, write computer code, or even analyze and respond to images. Google plans to integrate PaLM 2 into 25 new products and features, including its chatbot Bard, which is now available globally and can be used in English, Japanese, and Korean.


PaLM 2 is also available for use in Workspace apps, where it can co-author text, spreadsheets, and slides. However, the company warned that systems built on PaLM 2 "continue to produce toxic language harms," and the Bard chatbot is only available in three languages at launch due to this issue.



Palantir Forecasts Profit in Every Quarter of 2023 on High Demand for AI Platform


Data analytics software maker Palantir Technologies has announced that it expects to turn a profit every quarter in 2023, thanks to strong demand for its new artificial intelligence platform. The company's new generative AI platform, which works on the same technology as ChatGPT, was launched two weeks ago and will be made available to select customers this month.


Palantir beat Q1 revenue and profit expectations, reporting an 18% rise in revenue to $525.2 million and adjusted profit of 5 cents per share. The company remains bullish on demand for its offerings in the US, but faces challenges in some international markets.




In conclusion, the world of AI is constantly evolving, and these five news stories represent just a small glimpse into the advancements and potential risks associated with this technology.


From concerns about cybercriminals misusing AI to the development of next-gen language models, it is clear that AI will continue to play a significant role in various industries. The new EU regulations demonstrate that there is a growing awareness of the need for ethical considerations in the development and use of AI. Additionally, discussions about the intersection of finance and technology highlight the potential for AI to revolutionize the way we manage our finances. Finally, Palantir's forecast for profitability every quarter in 2023 due to the high demand for their new AI platform serves as a testament to the increasing adoption of this technology.


As AI continues to grow and shape our world, it will be important to stay informed about the latest developments and consider the ethical implications of these advancements.

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