Visa Announces $100 Million Fund for Generative AI in Commerce and Payments

On October 2, 2023, Visa Inc., a global leader in payment solutions, announced a $100 million fund dedicated to generative artificial intelligence (AI). The fund is designed to invest in startups and established businesses that are at the forefront of developing generative AI technologies and applications, particularly those that have potential applications in commerce and payments.

Visa Ventures, the corporate investment division of Visa, will be responsible for overseeing the fund’s investment activities. Established in 2007, Visa Ventures has a history of backing innovative projects in the payment and commerce sectors. David Rolf, Head of Visa Ventures, expressed enthusiasm about the initiative, stating, “Generative AI has the potential to be one of the most transformative technologies of our time. We are excited to expand our focus to invest in some of the most innovative and disruptive venture-backed startups in the fields of generative AI, commerce, and payments.”

The Capabilities of Generative AI

Generative AI is a type of artificial intelligence that can produce a wide array of content, from text and images to audio and synthetic data. The technology has already shown its capabilities through major AI chatbots like OpenAI’s ChatGPT and Google’s Bard, which can generate text that closely resembles human writing. This opens up new avenues for how AI can be utilized in various sectors, including commerce and payments.

Visa’s Long-standing Commitment to AI

Visa has been a pioneer in the adoption of artificial intelligence technologies. As early as 1993, the company implemented AI-based systems for risk and fraud management. In 2022, Visa Advanced Authorization, the company’s real-time fraud monitoring system, was credited with preventing approximately $27 billion in fraudulent activities. Last year, Visa also launched VisaNet +AI, a suite of AI-based services aimed at helping financial institutions tackle challenges related to daily settlement operations.

Beyond its investments in AI, Visa has also been exploring other technological frontiers. The company has shown a positive stance on the incorporation of blockchain technology, particularly Bitcoin, into payment systems. Jack Forestell, Chief Product and Strategy Officer at Visa, believes that generative AI holds significant promise in reshaping the financial landscape.

The $100 million fund is a significant step in Visa’s broader strategy to stay ahead in the rapidly evolving technological landscape. It not only reinforces the company’s leadership in AI but also signals its intent to be at the forefront of future innovations that could redefine commerce and payments.

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Microsoft Ventures into Nuclear Energy to Power AI Development

To further its efforts in the field of artificial intelligence (AI), software giant Microsoft is venturing into the potentially dangerous world of nuclear power. The IT giant has signalled a strategic effort to establish an energy strategy based on Small Modular Reactors (SMRs) and microreactors by posting a job opening for a Principal Programme Manager in Nuclear Technology. This decision was made public by the posting of the job offering. This initiative’s goal is to provide support for the company’s cloud and artificial intelligence systems, which are growing more energy-intensive.

The duties of the position as well as the required credentials are outlined in the posting for the job, which is no longer accepting applications. It is anticipated that the ideal applicant will have at least six years of experience working in the engineering field, the energy market, or the nuclear business. According to the job description, the primary responsibilities of this post will include “maturing and implementing a global Small Modular Reactor (SMR) and microreactor energy strategy.” Additionally, the function requires investigating a variety of alternative experimental energy methods.

Data centres and artificial intelligence models have a well-deserved reputation for their excessive energy usage. According to the findings of a research that was published in 2019 in the MIT Technology Review, the training of a single AI model might produce as much carbon dioxide as five automobiles over the course of their lifespan. Microsoft plans to address this problem by improving both its software and hardware algorithmic and hardware efficiency, as well as by maximising the use of renewable energy sources such as nuclear power. According to the United States Office of Nuclear Energy, nuclear power is the only kind of energy that does not emit any carbon emissions; hence, it is an attractive choice for Microsoft’s environmental projects.

The change, on the other hand, is not without its difficulties and its detractors. Nuclear energy, according to the findings of researchers at Stanford University, is not a silver bullet for resolving environmental problems because of its protracted planning-to-operation time, enormous carbon footprint, and meltdown hazards. In addition, there are issues over the management of radioactive waste and the establishment of a uranium supply chain, particularly in light of the fact that Russia has been the primary supplier of highly enriched uranium fuel (HALEU) to the rest of the world.

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Enabling Innovation in Asset Management: SFC’s Approach

Key Takeaways

  1. Christina Choi, Executive Director of Investment Products at the Securities and Futures Commission (SFC), spoke at the Bloomberg Buy-Side Forum Hong Kong 2023.
  2. Choi emphasized the role of technology, particularly AI and blockchain, in transforming the asset management industry.
  3. The SFC is working on guidelines for tokenization of SFC-authorized investment products.

SFC’s Dual Role in Asset Management

Christina Choi, Executive Director of Investment Products at the Securities and Futures Commission (SFC), addressed the Bloomberg Buy-Side Forum in Hong Kong on September 26, 2023. She outlined the SFC’s dual role: protecting investors and upholding market integrity, and strengthening Hong Kong’s position as a global asset management hub. The SFC aims to balance regulation and innovation, ensuring that technology advancements like AI and blockchain can be integrated into the asset management industry without compromising market integrity.

Technology’s Impact on Asset Management

Choi highlighted the rapid advancements in technology, specifically mentioning the miniaturization of chip technology from 90 nanometres to just three nanometres in two decades. She linked these technological leaps to the potential for “tiny changes” in the asset management industry that could result in significant market development.

Tokenization of Retail Investment Products

One of the most notable points in Choi’s speech was the discussion on tokenization of SFC-authorized investment products. Tokenization refers to the use of blockchain technology to create digital tokens that represent fractional ownership in an investment product. Choi mentioned that the SFC is currently working on detailed guidelines for tokenization, particularly focusing on primary dealing at this stage due to the nascent state of Virtual Asset Trading Platforms (VATPs) in Hong Kong.

Regulation Enables Innovation

Choi stressed that while innovation is crucial, it must be balanced with robust regulation to ensure sustainable development and investor protection. She cited historical examples like the Global Financial Crisis of 2007-08 and the fallout of unregulated crypto platforms to emphasize the importance of regulation.

Closing Remarks

In her closing remarks, Choi drew an analogy between regulation and machine learning, stating that just as “machine learning without regularization” is problematic, so is “innovation without regulation.”

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.


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What is ChatPDF?

Introduction

ChatPDF is a specialized platform that utilizes ChatGPT technology to offer advanced PDF processing capabilities. Aimed at a diverse user base including students, researchers, and professionals, the service is engineered to summarize PDF content and respond to queries related to it. While the platform currently operates on GPT-3.5 technology, it is exploring the integration of GPT-4, although this feature may not be available on the free plan due to cost considerations. This wiki delves into the various functionalities, target user segments, pricing structures, and legal aspects of ChatPDF.

Core Features

Summarization and Q&A: 

ChatPDF can summarize entire PDF documents and provide specific answers to questions posed by the user. This feature is particularly useful for academic research, where sifting through lengthy papers can be time-consuming.

Multi-Language Support: 

The platform is not limited by language barriers. It can accept PDFs and interact with users in multiple languages, making it a globally accessible tool.

Cited Sources: 

One of the unique features of ChatPDF is its ability to cite the sources from the original PDF document when providing answers. This feature adds a layer of credibility and helps in academic and professional settings where source attribution is crucial.

Security and Privacy: 

ChatPDF places a high emphasis on user security. All files are stored in a secure cloud environment and are never shared with third parties.

User Segments

Students:

For students, ChatPDF serves as an invaluable tool for exam preparation, homework assistance, and understanding complex study materials. It can even help answer multiple-choice questions, providing a new dimension to study aids.

Researchers:

Researchers often have to go through extensive academic papers, articles, and publications. ChatPDF simplifies this by summarizing content and answering specific queries, thereby speeding up the research process.

Professionals:

In the professional world, time is of the essence. ChatPDF aids in quickly understanding legal contracts, financial reports, manuals, and training materials. It allows professionals to ask any question to any PDF and get insights rapidly.

Pricing Plans

Free Plan:

120 pages per PDF

10 MB per PDF

2 PDFs per day

20 questions per day

ChatPDF Plus:

$9.99 per month

2,000 pages per PDF

32 MB per PDF

50 PDFs per day

1,000 questions per day

API and Developer Features

ChatPDF offers a robust backend API that allows developers to integrate its functionalities into their own applications or services. The API is versatile, supporting various methods for adding PDFs, and comes with a free tier that offers limited usage.

Legal and Privacy Considerations

Terms of Service:

ChatPDF is intended for users aged 13 and above. The platform owns or licenses all intellectual property, including source code and databases. Users are responsible for their submissions and must adhere to the guidelines set forth in the Terms of Service.

Privacy Policy:

ChatPDF is committed to data privacy and security. The platform collects information for service provision, communication, and security. Although measures are in place to protect user data, 100% security cannot be guaranteed. Users have rights that vary depending on their geographical location, including data access, rectification, and erasure.

Contact and Support

ChatPDF offers multiple channels for customer support and feedback. Users can reach out via email at support@chatpdf.com. The company is also active on social media platforms like Discord and Twitter, where users can post feature requests or bug reports.

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OpenAI Announces Call for Experts to Join its Red Teaming Network

OpenAI has initiated an open call for its Red Teaming Network, seeking domain experts to enhance the safety measures of its AI models. The organization aims to collaborate with professionals from diverse fields to meticulously evaluate and “red team” its AI systems.

Understanding the OpenAI Red Teaming Network

The term “red teaming” encompasses a wide array of risk assessment techniques for AI systems. These methods range from qualitative capability discovery to stress testing and providing feedback on the risk scale of specific vulnerabilities. OpenAI has clarified its use of the term “red team” to avoid confusion and ensure alignment with the language used with its collaborators.

Over the past years, OpenAI’s red teaming initiatives have evolved from internal adversarial testing to collaborating with external experts. These experts assist in developing domain-specific risk taxonomies and evaluating potential harmful capabilities in new systems. Notable models that underwent such evaluation include DALL·E 2 and GPT-4.

The newly launched OpenAI Red Teaming Network aims to establish a community of trusted experts. These experts will provide insights into risk assessment and mitigation on a broader scale, rather than sporadic engagements before significant model releases. Members will be selected based on their expertise and will contribute varying amounts of time, potentially as little as 5-10 hours annually.

Benefits of Joining the Network

By joining the network, experts will have the opportunity to influence the development of safer AI technologies and policies. They will play a crucial role in evaluating OpenAI’s models and systems throughout their deployment phases.

OpenAI emphasizes the importance of diverse expertise in assessing AI systems. The organization is actively seeking applications from experts worldwide, prioritizing both geographic and domain diversity. Some of the domains of interest include Cognitive Science, Computer Science, Political Science, Healthcare, Cybersecurity, and many more. Familiarity with AI systems is not a prerequisite, but a proactive approach and unique perspective on AI impact assessment are highly valued.

Compensation and Confidentiality

Participants in the OpenAI Red Teaming Network will receive compensation for their contributions to red teaming projects. However, they should be aware that involvement in such projects might be subject to Non-Disclosure Agreements (NDAs) or remain confidential for an indefinite duration.

Application Process

Those interested in joining the mission to develop safe AGI for the benefit of humanity can apply to be a part of the OpenAI Red Teaming Network. 

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What is Forefront AI? Everything You Need to Know!

Introduction

Forefront AI is a software platform that acts as a service aggregator, primarily integrating advanced natural language processing (NLP) capabilities from ChatGPT and Claude. The platform enhances these foundational services by adding unique features, making it a comprehensive tool for various applications.

Core Integrations

ChatGPT: Forefront AI leverages the capabilities of ChatGPT, providing users with powerful NLP functionalities.

Claude: Another integral component of Forefront AI, Claude brings additional AI capabilities to the platform.

Key Features

Enhanced ChatGPT Experience: Forefront AI offers an enriched ChatGPT experience, delivering powerful NLP capabilities.

Internet Content Access: ChatGPT does not have direct access to the internet. All models on Forefront can access the Internet. Users can enable this feature by toggling “Access Internet” to “Enabled”.

Image Generation: Users can generate images based on textual prompts, expanding creative possibilities.

Custom Personas: Forefront AI allows users to select from a range of personas, tailoring the AI’s behavior to specific needs. There are default assistants for various domains like engineering, marketing, sales, cooking, fashion, and more. Users can also create custom assistants by providing specific behavior instructions.

Shareable Chats: Users can save and share their chat sessions, facilitating collaboration and communication.

Switch Between Models: A unique feature of Forefront Chat is the ability to switch between different AI models seamlessly.

Applications

Content Creation: Forefront AI can be used for generating high-quality content for blogs, articles, and social media posts.

Education: Students can benefit from the platform’s ability to provide instant answers and educational resources.

Entertainment: Beyond serious tasks, the platform can be used for games, jokes, and memes.

Marketing and Branding: Companies can leverage Forefront AI to craft marketing strategies, generate ad copies, and understand brand sentiment, optimizing their outreach efforts.

Customer Service: Businesses can utilize the platform to deliver instant responses to customer queries, enhancing the overall customer service experience.

Personal Assistance: The platform can serve as a virtual assistant, aiding in tasks like scheduling and reminders.

Data Analysis: Forefront AI can be employed to analyze vast amounts of textual data, extracting insights, trends, and patterns that can guide decision-making processes.

Research: The vast knowledge base of the platform can assist researchers in information retrieval and paper generation.

Pricing

Free Tier:

Cost: $0 per month

Features: Unlimited GPT-3.5 and Claude Instant messages, limited access to premium models and features, 100 GPT-3.5 messages/3 hours, 100 Claude Instant messages/3 hours, 4096 token input length, 5 internet searches/3 hours, 3 file uploads/3 hours.

Pro Tier:

Cost: $29 per month

Features: 30 GPT-4 messages/3 hours, 30 Claude 2 messages/3 hours, unlimited GPT-3.5 and Claude Instant messages, 100k token input length, unlimited internet searches and file uploads every 3 hours.

Ultra Tier:

Cost: $69 per month

Features: 70 GPT-4 messages/3 hours, 70 Claude 2 messages/3 hours, unlimited GPT-3.5 and Claude Instant messages, 250k token input length, unlimited internet searches and file uploads every 3 hours.

Forefront Enterprise:

Custom pricing tailored for enterprises.

Features: Advanced security, powerful admin controls, onboarding support, SAML SSO, dedicated Slack channel, custom billing, enterprise-grade security, self-hosting, and more.

Privacy, Security, and Legal Concerns

While the specific details regarding Forefront AI’s privacy, security, and legal measures have not been provided in the given content, it’s essential for users to consult the platform’s official terms of service, privacy policy, and any related documentation. Ensuring data protection, understanding the platform’s data usage policies, and being aware of any legal implications are crucial when using any AI service.

Conclusion

Forefront AI stands out as a service aggregator, enhancing the capabilities of foundational AI models like ChatGPT and Claude. By offering a suite of features tailored to enhance user experience, the platform is poised to make significant contributions to various sectors, from business to education. With a range of pricing options, it caters to both individual users and enterprises, ensuring accessibility and scalability.

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EY Unveils AI Platform EY.ai After a US$1.4 Billion Investment

The global EY organization has officially announced the launch of EY.ai, a comprehensive platform designed to facilitate the confident and responsible integration of artificial intelligence (AI) into businesses. This initiative is the result of an 18-month development process and a significant investment of US$1.4 billion.

Key Highlights

EY.ai’s Objective: The platform aims to merge human expertise with AI, leveraging EY’s vast business experience. It is designed to assist organizations in harnessing the transformative power of AI across various sectors, including strategy, transactions, transformation, risk, assurance, and tax.

Investment Details: EY’s US$1.4 billion investment has been instrumental in embedding AI into proprietary EY technologies, notably EY Fabric, which is currently utilized by 60,000 EY clients and over 1.5 million unique users. This investment also facilitated a series of EY technology acquisitions, bolstered by cloud and automation technologies.

EY.ai EYQ: Following a pilot involving 4,200 EY technology-focused team members, EY plans to release EY.ai EYQ, a secure, large language model. Additionally, EY will introduce tailored AI learning and development programs for its workforce. This initiative builds upon EY’s previous AI and data analytics learning programs, which have awarded over 100,000 credentials since 2018.

AI Ecosystem: EY.ai is establishing an AI ecosystem that encompasses a diverse range of business, technological, and academic AI capabilities. Notable alliances include partnerships with industry giants such as Dell Technologies, IBM, Microsoft, SAP, ServiceNow, Thomson Reuters, and UiPath. Specifically, Microsoft has granted EY early access to Azure OpenAI capabilities, including GPT-3 and GPT-4, to enhance EY’s service offerings.

AI Solutions and Services: EY.ai will be anchored by several AI-powered tools and services, including the EY.ai Confidence Index, the EY.ai Maturity Model, and the EY.ai Value Accelerator. Moreover, the platform will integrate generative AI into EY Fabric, which powers 80% of EY’s US$50 billion business.

Collaborative Endeavor: Andy Baldwin, EY Global Managing Partner – Client Service, emphasized the collaborative nature of EY.ai, stating that the platform aims to “deliver an unparalleled level of excellence in client service” by merging the capabilities of EY’s ecosystem collaborators with AI-enhanced teams.

Future Collaborations: EY is in discussions with the University of Southern California’s School of Advanced Computing regarding potential joint-research opportunities, following the university’s US$1 billion Frontier of Computing initiative.

Marketing Campaign: EY.ai’s launch will be accompanied by a marketing campaign themed ‘The Face of the Future’, set to go live in October. The campaign will focus on showcasing how AI can augment EY’s diverse services.

About EY

EY, part of the global Ernst & Young organization, is dedicated to building a better working world by creating long-term value for clients, people, and society. With teams in over 150 countries, EY provides services across assurance, consulting, law, strategy, tax, and transactions. Leveraging data and technology, EY addresses complex issues facing today’s world. While EY refers to the global organization, it encompasses various member firms of Ernst & Young Global Limited, each a distinct legal entity. EY prioritizes trust in the capital markets and innovation through its diverse teams.

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Is Character AI Safe? An In-Depth Analysis

The rise of artificial intelligence has brought forth a myriad of tools and platforms, one of which is Character AI. According to a16z, CharacterAI is ranked 2nd in the top 50 GenAI web products, trailing only ChatGPT. It’s a prominent companion platform to ChatGPT, holding approximately 21% of ChatGPT’s scale. On mobile, CharacterAI showcases strong performance, with daily active users (DAUs) comparable to ChatGPT and superior retention, as per Sensor Tower data. It falls under the “AI companions” category, which, along with content generation tools, has seen a surge in usage recently. As with any digital platform, concerns about safety, privacy, and data security are paramount. Here’s an analysis of the safety of Character AI:

What is Character.AI?

Founded by Noam Shazeer and Daniel De Freitas, Character.AI is an advanced AI-driven chatbot platform that enables users to design and engage with virtual characters, ranging from celebrities like Elon Musk to historical icons like Aristotle. Gaining popularity, especially among Gen Z, it serves as a tool for creating digital companions for diverse purposes, including entertainment, role-playing, and mental health support. The platform employs neural language models for realistic conversations, allowing users to customize characters, participate in group interactions, and provide feedback to enhance AI precision. Available freely, there’s also a premium version, c.ai+, offering superior features. Supported majorly by a16z, Character.AI has raised nearly 2 billion in funding. While it prioritizes authentic interactions, users should recognize that the AI models are continually evolving.

Safety Concerns

Chat Storage: Character AI retains chat data, enabling users to pick up conversations where they left off. This raises questions about data longevity and potential access by third parties.

Data Privacy: Character AI prioritizes user data privacy. Their privacy policy, as set by Character Technologies Inc., emphasizes the use of “commercially reasonable technical, administrative, and organizational measures” to protect user information. However, as with any online platform, there’s no absolute guarantee against potential breaches. Users should be wary of sharing sensitive personal details.

NSFW Content: The platform has a strict policy against NSFW content. Although mechanisms are in place to screen and filter inappropriate material, users, particularly the younger demographic, should exercise caution. Some individuals may attempt to bypass these safeguards, potentially exposing younger users to harmful content. Additionally, the review and filtering processes could pose risks to user data confidentiality.

Age Restriction Concerns : The platform’s policy restricts users below 13, but enforcement might not be stringent, potentially exposing younger audiences to unsuitable content.

Identity Manipulation: Character AI allows the creation of characters resembling real individuals. This poses ethical concerns about consent and potential misuse of personal data.

International Users: The privacy policy highlights that user data may be transferred to servers in the United States, which international users should be aware of.

California Privacy Rights: For California residents, the policy outlines specific rights concerning their personal information, including the right to know, request deletion, and non-discrimination.

Updates & Contact: Character AI’s privacy policy is subject to change, and users are encouraged to review it periodically. For queries, users can reach out to support.character.ai.

safety suggestions

Parental Guidance: For younger users, parental guidance is recommended. Parents should be aware of the platform’s capabilities and potential risks.

Exercise Caution with Personal Data: Users are encouraged to exercise caution when sharing information on the platform. For security reasons, it’s recommended to refrain from disclosing sensitive details such as passwords, bank account information, or other personal identifiers during conversations.

Stay Updated: As with any digital tool, it’s essential to stay updated on the platform’s terms of service, privacy policy, and any changes they might implement.

Conclusion

while Character AI offers an innovative way to interact with AI-powered characters, users should approach it with an awareness of the potential risks. As the platform continues to evolve, it’s crucial to prioritize safety and data privacy.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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Unstable Diffusion: What Does It Truly Mean?

Introduction

Unstable Diffusion stands out as the NSFW (Not Safe For Work) counterpart to Stable Diffusion, offering an unrestricted avenue for generating images from text prompts. Comparable to platforms like ChatGPT NSFW and the hypothetical DAN (Do Anything Now) GPT, Unstable Diffusion is perceived as a means to circumvent the constraints and limitations set by service providers, potentially leading to outcomes or concerns such as biases and the generation of explicit content.

Stable Diffusion: The Foundation

Definition: At its core, Stable Diffusion is an AI-driven model meticulously designed for generating images from text prompts. Developed by the renowned Stability AI, this model is a testament to the power of latent text-to-image diffusion techniques. It can craft photo-realistic images with resolutions reaching up to 1024×1024. While the model operates within certain constraints to ensure the content remains within socially accepted norms, it serves as a foundation for its unrestricted counterpart, Unstable Diffusion. Its applications span across research, digital art creation, and educational tools, making it a versatile tool in the AI toolkit.

Key Features of Unstable Diffusion

High-Resolution Image Generatio*: Beyond crafting detailed images, Unstable Diffusion ensures each generated image is of the highest quality, capturing even the minutest details from the provided text prompts.

Dynamic Algorithms: The latent diffusion technique it employs is state-of-the-art, ensuring image relevance and unparalleled quality.

User-Centric Design: With an interface tailored for all, from AI novices to experts, it promises a seamless user experience.

Diverse Use Cases

Digital Artistry: Artists now have a tool that can bring their textual concepts to life, offering a new medium to express creativity.

Content Creation: Bloggers, website developers, and digital marketers can prototype visual content, enhancing user engagement.

Education: With Stable Diffusion, educators can generate visual aids, making complex concepts more accessible to students.

Community, Development, and Support

Both the Unstable and Stable Diffusion communities are buzzing hubs of activity. With contributors from around the globe, these platforms are in a constant state of refinement and evolution. 

Official Websites:

Unstability.ai

Unstable-Diffusion.com

The Ethical Debate: Freedom vs. Responsibility

The unrestricted nature of Unstable Diffusion is both its strength and its point of contention. While it offers unparalleled freedom in image generation, it also raises significant ethical concerns. The potential to generate NSFW content, especially pornographic images, has sparked debates about its misuse and the overarching moral responsibilities of AI developers and users alike.

Pricing, Licensing, and Accessibility

Unstable Diffusion’s business model caters to a wide audience. With both free and premium plans on offer, users can choose based on their requirements. The premium plans, packed with advanced features and higher resolution outputs, are priced competitively. However, users are always advised to peruse the official website for the most up-to-date pricing and licensing terms.

Conclusion

The advent of models like Unstable Diffusion underscores the rapid advancements in AI-driven image generation. These tools, with their vast capabilities, promise to reshape the digital landscape. However, as with all powerful tools, the onus is on us, the users, to wield them responsibly, ensuring a harmonious balance between unbridled creativity and societal norms.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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Biden-Harris Administration Secures AI Commitments from Major Tech Companies

In today’s press release from the White House, the Biden-Harris Administration announced that it has secured voluntary commitments from eight more artificial intelligence (AI) companies to manage the risks associated with AI. This move builds upon the commitments from seven AI companies obtained in July.

Companies Involved

The latest round of commitments includes major tech players such as Adobe, Cohere, IBM, Nvidia, Palantir, Salesforce, Scale AI, and Stability. These companies have pledged to drive the safe, secure, and trustworthy development of AI technology.

Nature of Commitments: The commitments emphasize three core principles for AI’s future: safety, security, and trust. The companies have agreed to:

  1. Ensure AI products undergo both internal and external security testing before public release.
  2. Share information on managing AI risks with the industry, governments, civil society, and academia.
  3. Prioritize cybersecurity and protect proprietary AI system components.
  4. Develop mechanisms to inform users when content is AI-generated, such as watermarking.
  5. Publicly report on their AI systems’ capabilities, limitations, and areas of use.
  6. Prioritize research on societal risks posed by AI, including bias, discrimination, and privacy concerns.
  7. Develop AI systems to address societal challenges, ranging from cancer prevention to climate change mitigation.

Government Action

These voluntary commitments are seen as a bridge to forthcoming government action. The Biden-Harris Administration is in the process of developing an Executive Order on AI to ensure the rights and safety of Americans. The Administration is also pursuing bipartisan legislation to position America as a leader in responsible AI development.

International Collaboration: The Administration has consulted with numerous countries, including Australia, Brazil, Canada, France, Germany, India, Japan, and the UK, among others, in developing these commitments. This international collaboration complements initiatives like Japan’s G-7 Hiroshima Process and the United Kingdom’s Summit on AI Safety.

Previous Initiatives

The Biden-Harris Administration has been proactive in addressing AI’s challenges and opportunities. Notable actions include:

  1. Launching the “AI Cyber Challenge” in August to use AI in protecting crucial US software.
  2. Meetings with consumer protection, labor, and civil rights leaders to discuss AI risks.
  3. Engagements with top AI experts and CEOs from companies like Google, Microsoft, and OpenAI.
  4. Publishing a Blueprint for an AI Bill of Rights and ramping up efforts to protect Americans from AI risks, including algorithmic bias.
  5. Investing $140 million to establish seven new National AI Research Institutes.

The Administration’s consistent efforts underscore its commitment to ensuring that AI is developed safely and responsibly, safeguarding Americans’ rights and safety, and protecting them from potential harm and discrimination.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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