⚔️ China 🆚 US Ai battle Intensifies, 📜 EU Legislation hits developers, and more.

Plus, 💰 Millions are being thrown at AI companies, Top Researchers in the space, and 🧰 tools.

July 05, 2023

Hello Everyone 👋

Hope you had an excellent 4th of July. Ai and computers don’t take breaks so we have lots to share.

Today we have a summary of more investment rounds, the Battle between US and Chin is escalating, and the European Union is coming down full force with AI legislation.

Let us know what you think in the comment section below. Let’s dive in…

⚔️ China and US Locked in a Battle for Tech Supremacy

U.S. Looks to Restrict China’s Access to Cloud Computing to Protect Advanced Technology

The Biden administration is planning to impose restrictions on Chinese companies access to U.S. cloud-computing services in an effort to protect advanced technology.

The proposed rule would require U.S. cloud-service providers like Amazon and Microsoft to obtain government permission before offering cloud-computing services that use advanced artificial intelligence chips to Chinese customers. 

The move is seen as an attempt to close a loophole that Chinese AI companies have potentially exploited to bypass export control rules. The restriction comes amidst escalating tensions between the U.S. and China over access to advanced technologies, including semiconductors. The U.S. hopes to address these issues during Treasury Secretary Janet Yellen's upcoming visit to China on Thursday, July 6th. This move marks a continuation of the tit-for-tat actions between the two countries and reflects the U.S.'s concerns about China's military applications of AI technology.

🧰 AI Tools of the Day

  • AIPRM: There's a prompt for that

  • 2short.ai extracts the best moments of your videos and turns them into performing short clips that drive views and subscribers 10X faster.

  • Hocoos - AI website builder creates business-ready websites in minutes, complete with useful text, design, & images. Just answer 8 quick questions.

  • Eesel - Connect your knowledge with ChatGPT and build an oracle that can instantly answer any question. Add it to your internal Slack or as a website widget.

  • AI Code Converter - Generate Code or Natural Language To Programming Language Code of Selected

💰 Show me the Money

Several AI-focused companies have recently secured significant funding.

Resistant, specializing in AI-based detection of financial crime, raised an impressive $11 million. Patented, a service dedicated to identifying intellectual property infringement, secured $4 million in funding. 

Intelecy, which enables industrial engineers to deploy machine learning models without coding, raised $3.5 million. JustPaid, offering automated payment monitoring and benchmarking solutions to businesses, also secured $3.5 million.

Lastly, Brilliant Labs, known for their AI-powered augmented reality glasses, raised $3 million in funding. These successful funding rounds continue to show that investors are ready to throw more cash into Ai apps and developers.

📚 The Learning Corner

These are a few organizations dedicated to AI research and development. Some of the top brains in the industry share their papers and thoughts on these sites.

📜 It's a whole new world of AI legislation out there!

The European Parliament has passed the EU AI Act, the world's first legislation on artificial intelligence. The act aims to ban AI systems with an "unacceptable level of risk" and establish guidelines for the development and deployment of AI systems, particularly in high-risk scenarios.

The legislation is currently in the final negotiation stage between EU institutions before enforcement timelines are clarified. The act includes definitions of AI systems, distinguishes between general-purpose AI systems and foundation models, and sets out general principles and prohibited practices. It also imposes risk-based obligations on developers, depending on the type of AI system being developed.

High-risk AI systems require conformity assessments and compliance with various requirements, while foundation model developers must undergo extensive analysis and testing. The act also includes transparency obligations and governance and enforcement mechanisms.

💪🏽 Important AI News and Trends

Reply

or to participate.