AI News

Modal Labs, a cloud-based infrastructure platform tailored for data teams and app developers, particularly those focused on generative AI applications, has successfully raised $16 million in a Series A funding round led by Redpoint Ventures. Other contributors to this investment include Amplify Partners, Lux Capital, and Definition Capital. This latest funding boosts Modal's total capital to $23 million, with plans to primarily direct the resources towards expanding its workforce, as shared by co-founder and CEO Erik Bernhardsson. The aim is to grow Modal's current team of 14 to 17 employees by year-end, focusing on the recruitment of software engineers.

Developer Q&A platform Stack Overflow is launching an innovative program today, granting AI companies access to its extensive knowledge base through the new API, OverflowAPI. Google is the inaugural launch partner, utilizing Stack Overflow's data to enhance Gemini for Google Cloud, which will provide validated answers directly in the Google Cloud console. Additionally, Stack Overflow is collaborating with Google to introduce more AI-driven features on its platform, building on the earlier rollout of OverflowAI.

Square Embraces Generative AI to Enhance Customer Experience

Saronic Secures $55 Million in Series A Round for Autonomous Defense Ships

eBay has unveiled an innovative AI feature that enables sellers to enhance their product images by replacing backgrounds with AI-generated settings. Currently, this tool is available to iOS users in the U.S., U.K., and Germany, with a gradual rollout planned for Android users in the coming months.

Adobe is making waves in the world of music creation and editing with its innovative approach to Generative AI (GenAI). At the Hot Pod Summit in Brooklyn, Adobe introduced Project Music GenAI Control, a groundbreaking platform designed to generate audio from text prompts—think "happy dance" or "sad jazz"—or by using a reference melody, all while allowing users to customize their audio within a single workflow.

Germany, France, and Italy have recently passed legislation to prohibit the culling of male day-old chicks, which are often considered surplus since they do not produce eggs. This move stems from both the waste generated and ethical animal welfare concerns. The laws aim to prompt technology firms to develop methods for determining chick gender before hatching.

AI models constantly astonish us, not just with their capabilities, but also with their limitations—and the reasons behind them. One intriguing behavior that highlights this is how these systems select random numbers, a process that mimics the often flawed methods of humans.

Staying updated in the rapidly evolving artificial intelligence (AI) sector can be a challenging task. Until AI takes over that responsibility, here's a concise summary of the latest developments in machine learning, including significant research and experiments that we haven't discussed previously.

AI may be the buzzword of the moment, but deploying it effectively remains a challenge. A 2023 S&P Global survey indicates that nearly 50% of companies with active AI initiatives are still in the pilot or proof-of-concept stages. The slow adoption is often attributed to obstacles in data management, security, and computing resources.

Menlo Ventures has successfully raised $1.35 billion in new capital, which it aims to use to "support the forthcoming generation of AI startups," as announced today by the venture capital firm.

OpenAI has unleashed the potential of ChatGPT today with the introduction of GPTs, a revolutionary feature allowing users to create personalized versions of the widely acclaimed conversational AI. Not only can you develop your own GPT for entertainment or enhanced productivity, but you’ll soon have the opportunity to publish it in the GPT Store—a marketplace where you could even monetize your creation.

Not Diamond, a San Francisco startup, has developed an innovative LLM router that enables enterprises to utilize multiple language models for enhanced query handling and cost efficiency. Backed by $2.3 million in funding, it aims to improve AI performance through smart routing, outperforming existing models.

Venture capitalists are feeling urgency to invest in AI amid a hype cycle, often overshadowing risks. To optimize AI investments, companies should assess total costs, identify unique advantages, and make strategic bets that enhance their business models while avoiding overcommitment to potentially wasteful projects.

Anthropic's Claude AI assistant has launched a beta feature allowing it to interact with PCs like a human, performing tasks such as viewing screens and clicking buttons. While promising for automation, early testing reveals limitations, including unexpected behavior. The update includes an upgraded Claude 3.5 model, with a new model coming soon.