This week, U.S. Congress, the G-7, and schools around the world were zooming in on Artificial Intelligence (AI). At the U.S. Congressional testimony, OpenAI CEO Sam Altman addressed the need for AI regulation. IBM’s privacy chief vocalized the same sentiment. Senator Richard Blumenthal then revealed he had used ChatGPT for his own opening remarks.
Prime Minister Rishi Sunak of the UK shared a cautious outlook on AI, during the G-7 Summit at Japan. Bloomberg reported that countries from around the world had been invited to partake in the discussion.
In other news, a 32-year-old in Japan has made a fortune by using AI for mergers within the country. Meanwhile, big tech firms continued to accelerate product releases. Alphabet Inc.’s Google added two AI features for identification purposes. On the other hand, Amazon and Meta Platforms Inc. incorporated AI-driven searches and flexible tools.
The Bank of England claimed AI could help with decision-making, and Goldman Sachs strategists declared AI with the highest potential for boosting US profit. Hedgefund founder Steve Cohen was also ‘bullish’ on the market thanks to AI. In terms of perceived risk, former JPMorgan Chase & Co. executive Blythe Masters had warned of potential ‘devastating loss’ without proper regulation.
Popular everyday tech like Alexa-enabled devices guarantee convenience thanks to AI. As mentioned earlier, ChatGPT can be used to create fully functioning conversations. The New York City school system lifted its initial ban on ChatGPT, and the app is now available on iOS devices with an Android release soon.
AI is also taking the medical industry by storm, and pharmaceutical giants are using AI to speed up medicine development. The technology is pushing investments into health startups, who now have access to lower medical costs with AI-based solutions.
Finally, the upcoming Microsoft Build conference is set to begin on the 23rd of May. Microsoft Corporation CEO Satya Nadella and OpenAI co-founder Greg Brockman will be present, along with others.
Regarding the company mentioned in the article, OpenAI, Alphabet Inc., and Amazon.com Inc. are all driving the AI revolution in their own ways. OpenAI is at the head of the group, leading in research and striving for the sustainability of AI. Alphabet Inc. is making user-friendly products with AI technology. Lastly, Amazon.com Inc. uses AI to make products and services more accessible and convenient for customers.
The person mentioned in the article is Jensen Huang, the CEO of Nvidia. Huang has seen a huge increase in net worth with the explosion of AI data centers, more than doubling to 27.3 billion. His high-quality chips are ideal for running AI software, which is why many tech giants use his products. Huang is a great example of the power behind AI.
