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Plus: AI Governance in Practice Report

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What are on FIRE 🔥

• 📉 AI Governance in Practice Report 2024

• 🌟 AI Highlights

• 💸 Daily AI Fundraising

• 📚 AI Sources From AI Fire

• 🏅 AI Tools

• ⚡ 5 AI Quick Hits

• 📊 AI Chart

• ✏️ AI Tutorial: Another Chinese 'Sora': A New AI Video Tool

• 💼 4 AI Jobs

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AI REPORT

📉 AI Governance in Practice Report 2024

AI systems can learn on their own and create new data, bringing big changes and new technology to society.

Key takeaways:

• AI governance combines principles, policies, and best practices to ensure responsible AI use.

• Global efforts, like the EU AI Act and OECD AI Principles, focus on transparency and security.

• Data quality and provenance are important for AI models to avoid bias.

• Transparency in AI systems helps tackle the black-box problem, improving user trust.

• Privacy laws like the GDPR ensure ethical data usage in AI systems.

Why it matters: Organizations can use their current risk plans to manage AI risks at different levels. By adjusting their approach to match AI product risks, business goals, and overall strategy, they can build a trustworthy AI system. The main goal is to promote responsible innovation. Adapting existing processes allows businesses to explore AI's opportunities while reducing financial, operational, and reputation risks.

TODAY IN AI

AI HIGHLIGHTS

🎓 IBM offers free AI fundamentals training and digital credentials in 10 hours, including hands-on experience with Watson Studio.

🚀 Salesforce launches Industries AI with 100+ AI capabilities across 15 industries, addressing sector-specific challenges.

🎬 Adobe previews Firefly AI's text-to-video tool, generating clips from descriptions with adjustable camera controls, set for beta release this year.

📺 Oprah's ABC special explores AI's impact, featuring interviews with tech leaders and critics to help viewers navigate the evolving AI landscape.

🎤 Taylor Swift endorses Kamala Harris, citing AI deepfake concerns after Trump posted fake 'Swifties for Trump' images.

🤖 EU scrutiny extends to various AI applications, including Google's use of PaLM2 for email summarizing and other generative AI services.

DAILY AI FUNDRAISING

Outward VC raised £51 million for its second fintech fund to support early-stage startups. The British Business Bank invested £30 million, helping founders in sectors like AI, healthcare, and education.

AI SOURCES FROM AI FIRE

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NEW EMPOWERED AI TOOLS

1. ⭕ Carrot Care understands and optimizes your bloodwork

2. ✏️ Hoop is AI task management for busy professionals

3. ⚙️ Scripe creates viral LinkedIn posts with AI.

4. 📦 Amplitude gets data and the insights you need to take action

5. 🍀 Rainbow Weather is AI forecast, today's weather, and a hurricane tracker

AI QUICK HITS

1. 🎙️ Google uses AI to create podcasts from your notes (Link)

2. 🛠️ LightEval: Hugging Face’s tool for AI accountability (Link)

3. ⚡ SambaNova Cloud claims fastest AI platform for Llama 3.1 (Link)

4. 🍽️ SideChef turns photos into recipes, tested by users (Link)

5. 🧠 The way CEOs use Gen AI for strategic planning (Link)

AI CHART

So, how are workers and businesses really gaining from AI? Let's break it down:

• AI is proving valuable for businesses, saving both time and money while improving customer experiences.

• 73% of companies using AI in one area report time savings, and 55% save on costs.

• Those using AI across four or more areas see even greater benefits, with 93% saving time and 83% cutting costs.

• Small businesses report AI handling work equivalent to 2.1 full-time employees, helping them raise wages or pay off debt faster.

• Employees also benefit—73% report higher productivity, and 60% feel more satisfied.

• However, only 41% prioritize AI training, showing room for improvement in maximizing AI’s potential.

Will companies make the most of AI’s potential?

AI TUTORIAL

Another Chinese 'Sora': A New AI Video Tool

1. Go to Hailuoai website

2. Input your prompt into the box (Preferred in Chinese)

3. Hit enter to generate.

Get more AI tutorials →

AI JOBS

• NTT DATA UK&I: Head of Data Analytics & AI (Link)

• W6 Resources: 'Head of Business Intelligence' - Oracle Cloud Platform - Data/AI/Machine Learning (Link)

• Anson McCade: AI Architect - Consulting Firm (Link)

• National Institute for African Studies (NIAS): AI Tutor (Link)

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