The SEC Newgate AI Weekly

Welcome back to our weekly AI briefing, where we bring you the latest developments in the world of artificial intelligence. AI is rapidly transforming the way we live, work, and interact with the world around us. Every Thursday, we'll bring you a curated selection of interesting stories from the world of AI.

Starting off, researchers at Meta have released an open-source AI model called ImageBind, which aims to generate multisensory content by combining multiple senses, such as text, audio, visual, movement, thermal, and depth data. Although the model is still only a research project, it has shown what future AI models could be capable of.

Meanwhile, Microsoft is expanding its AI-powered virtual assistant for Microsoft 365, called Copilot. This feature provides real-time suggestions and assistance to help workers manage their time and workload during work tasks. Select customers are currently offered a paid preview of Copilot, with plans to expand its availability in the future.

Additionally, IBM has introduced a new data platform called WatsonX, which makes it easier for organisations to manage their data and apply AI to business operations. By combining IBM's original Watson AI technology with the Red Hat OpenShift hybrid cloud platform, WatsonX allows customers to build and deploy AI models across multiple cloud environments. IBM believes that WatsonX will accelerate businesses' AI initiatives and drive innovation across industries.

At Google's annual developer conference, Google I/O, updates to the company's AI and machine learning technologies were revealed. The latest research in language modelling, called PaLM 2, was showcased, which is Google's most advanced large language model (LLM) yet. PaLM 2 includes more than 100 languages, enabling it to generate realistic and coherent text. Google will also be revamping its 25-year-old internet search engine with artificial intelligence and features similar to a chatbot. Users will be able to engage in question-and-answer-style chats with it instead of simply providing a list of links, it will feature more elaborate text answers and explanations generated by AI.

Finally, the UK's Competition and Markets Authority (CMA) is investigating the use of AI in businesses, focusing on potential issues around competition, consumer protection, and market dynamics. The CMA will examine how AI is being used by companies, particularly in the areas of online advertising and personalised pricing. This investigation comes amid growing concerns over the ethical use of AI, particularly around issues of bias, privacy, and accountability. Experts and industry stakeholders will provide input to help the CMA understand the potential benefits and risks of AI, as well as the potential for harm. The CMA aims to produce a report on its findings by the end of 2023 to inform future regulatory efforts around AI.