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Hope you're having a great mid-week! Today, we explore how our interconnected world means a single bug in one company's system can disrupt hundreds of computer systems across various industries. Can AI solve this issue? Additionally, open-source models are now competing with closed-source ones, but are they secure? Moreover, surveillance pricing is becoming increasingly intricate and personalized. Let's dive in.

• 📰 News and Trends.

• Universal Income Study Results Are Out.

• 🧰 AI Tools (Design III)

• Open-Source AI Model “Llama 3.1” Competes with Closed Models, but Is it Safe?

• What is Surveillance Pricing Based On Personal Data?

• CrowdStrike Update Error Causes Global IT Disruptions.

📰 AI News and Trends

• OpenAI Removes AI Safety Leader Mądry, a one-time ally of CEO Altman (TheInformation)

• Philippine officials slam deepfake video of President Marcos Jnr allegedly doing drugs (SCMP)

• AI startup Cohere sees valuation soar to $5.5B after new funding round (Alpha)

• How to access Chinese LLM chatbots across the world (MIT)

• Nvidia clears Samsung's HBM3 chips for use in processors for 1st time (BusinessStandard)

🌐 Other Tech news

• CrowdStrike, the cybersecurity company at the center of massive global IT outages, said that a bug in a safety mechanism allowed flawed data to go out to customers in a botched update, causing the meltdown.

• Tesla’s second-quarter profits fell 45% from last year, due to weak electric vehicle sales (NYT)…

• … EVs Are Cheaper Than Ever. Sales were barely up 6.8% compared to 50% a year ago (WSJ)

• Spot Ethereum ETFs begin trading today: Check this guide (Block)

• Airbnb Hosts Want Guests to Come to Them Directly (Bloomberg)

• Chuck Schumer plans to bring two major kids online safety bills to the Senate floor this week (TheVerge)

Universal Income Study Results Are Out.

Sam Altman the OpenAI CEO conducted a basic-income study that provided $1,000 monthly to low-income participants for three years. The study revealed that most of the extra income was spent on essentials like food, rent, and transportation. Although the study recorded a slight decrease in work hours, recipients remained engaged in the workforce and showed enhanced decision-making abilities. Initial benefits such as reduced stress and food insecurity faded over time, and no significant health improvements were noted. The findings highlight the potential and limitations of basic income in addressing economic disparities, emphasizing that cash alone cannot solve systemic issues.

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Open-Source AI Model “Llama 3.1” Competes with Closed Models, but Is it Safe?

Meta has introduced Llama 3.1, a powerful and free AI model, positioning itself at the forefront of AI accessibility and customization. Unlike most AI companies that guard their technologies, Meta's release is intended to encourage widespread use and innovation as Mark Zuckerberg promotes open-source AI. However, this comes with increased scrutiny regarding the potential misuse of AI, as it lacks built-in safeguards against harmful outputs unless specifically set by users.

Llama 3.1 competes, for the first time, with top closed models from companies like OpenAI and Google, featuring a staggering 405 billion parameters. Despite not being truly open source—due to usage restrictions imposed by Meta—the model is promoted as a significant step towards democratized AI, akin to the early days of the Linux operating system. The model, too large for ordinary computers, is supported by major cloud providers for more extensive applications.

Experts like Geoffrey Hinton express concerns over the risks of uncontrolled AI, highlighting the potential for misuse. Despite these fears, Meta claims to have rigorous safety protocols for Llama and plans to introduce new tools to help developers manage and secure the model's outputs. This release could reshape the landscape of AI development and safety research, emphasizing the need for balance between innovation and control in the evolving AI arena.

🧰 AI Tools

Design III

• Flair AI - Drag & drop to generate stunning product shoots in seconds.

• Autodraw - Drawing platform to turn any scribble into art.

• Microsoft Designer - Design anything, a great canvas alternative.

• CandyIcons - Generate app icons with AI.

• FRENZ Brainband by Earable - Silence your thoughts and drift into a deeper sleep. —AI-powered, scientifically-backed sleep tech transforming restless nights into restful slumber. Exclusive savings with code 'celis'!*

What is Surveillance Pricing Based On Personal Data?

Everything you do online is being tracked and potentially used to your advantage or disadvantage, depending on how you view it. Maybe, portraying yourself as financially strapped online might lead to receiving targeted offers with lower prices.

The U.S. Federal Trade Commission (FTC) has initiated an investigation into products that use consumer data to offer targeted pricing based on personal attributes like location and purchase history. The study involves companies like Mastercard, JPMorgan Chase, Accenture, and several others that provide data-driven pricing tools. These tools, leveraging AI and other technologies, are used to tailor prices for individual consumers, raising concerns about privacy and fairness. The FTC aims to understand how these products operate, their data usage, and their impact on pricing. FTC Chair Lina Khan highlighted the potential risks to consumer privacy and the possibility of price exploitation through what the agency terms "surveillance pricing." The investigation is part of broader efforts to enhance consumer privacy protections and regulate data collection practices.

CrowdStrike Update Error Causes Global IT Disruptions.

CrowdStrike Holdings Inc. acknowledged that a defect in a safety mechanism led to a flawed update being distributed, resulting in a major global IT outage. This incident affected over 8.5 million Windows users and disrupted operations in industries including airlines (poor Delta wishes it was Aplha), banking, and emergency services across multiple countries, and scammers are also taking advantage, beware!!!

The cybersecurity company has outlined plans to improve testing and stagger future updates to prevent such incidents. Additionally, CrowdStrike intends to give customers more control over update deployment. The incident led to a significant drop in CrowdStrike’s stock value and prompted a request for CEO George Kurtz to testify before the US House Committee on Homeland Security.