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In this week's newsletter, The European Union has officially published its AI Act, setting in motion the compliance deadlines and marking a significant step in global AI regulation. Meanwhile, SoftBank has acquired British AI chipmaker Graphcore, aiming to enhance its AI capabilities and drive forward its ambitions in the AI industry.

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In today’s issue:

• EU’s AI Act Officially Published, Starting Legal Deadlines

• SoftBank Acquires Graphcore to Boost AI Ambitions

• OpenAI Raises Safety Concerns Over AGI Development

• Standard Bots Secures $63M Funding

• Amazon Launches AI Shopping Assistant

• AI in Supply Chain Value

• Rabbit R1 Security Issue

• AI's Impact on Creativity

Today’s must read

EU’s AI Act Officially Published, Starting Legal Deadlines

TL;DR: The EU’s AI Act has been published, setting the clock for compliance deadlines and regulatory enforcement.

Summary: The European Union's AI Act has been officially published in the bloc's official journal, initiating the countdown for legal compliance deadlines. This groundbreaking legislation aims to regulate AI technologies, ensuring ethical use and mitigating risks. Companies operating within the EU must now begin preparations to meet these new requirements.

Highlights:

• Official publication of the EU AI Act.

• Countdown for compliance deadlines begins.

• Focus on ethical AI use and risk mitigation.

Why it matters:

• Sets a global precedent for AI regulation.

• Promotes safe and ethical AI development.

• Companies must adapt to new legal frameworks.

Bottom line: The publication of the EU AI Act marks a significant step in AI regulation, with companies needing to comply with new standards to ensure ethical and safe AI practices.

_{Source: techcrunch}

News from the giants

SoftBank Acquires Graphcore to Boost AI Ambitions

TL;DR: SoftBank acquires British chipmaker Graphcore to enhance its AI capabilities and further its ambitions in the AI industry.

Summary: SoftBank has purchased Graphcore, a British AI chip startup, to strengthen its AI technology portfolio. This acquisition reflects SoftBank's strategy to lead in AI advancements by integrating Graphcore's innovative AI chips into its ecosystem. The move is expected to accelerate the development and deployment of AI applications across various industries.

Highlights:

• SoftBank acquires British AI chipmaker Graphcore.

• Aims to enhance AI capabilities.

• Accelerates AI application development and deployment.

Why it matters:

• Strengthens SoftBank's position in the AI industry.

• Integrates cutting-edge AI chip technology.

• Promotes faster AI innovation and implementation.

Bottom line: SoftBank's acquisition of Graphcore is a strategic move to bolster its AI ambitions, leveraging advanced chip technology to drive AI progress and innovation.

_{Source: siliconangle}

Privacy

OpenAI Raises Safety Concerns Over AGI Development

TL;DR: OpenAI expresses safety concerns regarding the development of Artificial General Intelligence (AGI), emphasizing the need for cautious and responsible advancement.

Summary: OpenAI has raised concerns about the potential risks associated with the development of Artificial General Intelligence (AGI). The organization stresses the importance of prioritizing safety and ethical considerations as AI technology progresses. OpenAI aims to implement robust safety measures and collaborate with other entities to mitigate risks and ensure responsible AGI development.

Highlights:

• OpenAI's emphasis on AGI safety.

• Call for responsible advancement and ethical considerations.

• Importance of collaboration to mitigate risks.

Why it matters:

• Ensures the development of safe and ethical AI.

• Prevents potential misuse of AGI technology.

• Promotes global cooperation in AI research.

Bottom line: OpenAI underscores the critical need for safety and ethical standards in AGI development to prevent risks and ensure beneficial outcomes for humanity.

_{Source: theverge}

Prompt of today

Prompts:

vintage urban photography, warm tones, nostalgic feel, classic cars, old buildings, inspired by Saul Leiter's style --ar 9:16 --v 6.0

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AI around the world

• Standard Bots Secures $63M Funding: tandard Bots secures $63 million to develop AI-powered robotic arms, enhancing automation capabilities in various industries.

• Amazon Launches AI Shopping Assistant: Amazon introduces Rufus, an AI shopping assistant, to help U.S. customers with personalized recommendations and enhanced shopping experiences.

• AI in Supply Chain Value: Microsoft discusses leveraging AI to enhance supply chain value realization, focusing on efficiency, transparency, and resilience.

• Rabbit R1 Security Issue: Rabbit's R1 robot experienced a security issue exposing user chat logs, addressed in the July 11th update to enhance user data protection.

• AI's Impact on Creativity: A study reveals AI boosts individual creativity but diminishes collective creativity, highlighting the nuanced effects of AI on creative processes.

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