AI in the courtroom

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Today we will discuss-

• 🧐UK issues official guidance on the use of AI in the courtroom

• 🤑EU begins to chalk out EU AI Act details

• 👨‍💼South Korea to welcome AI financial analyst soon

• 😱11 amazing AI tools you might not have heard of

All this and more - Let's dive in!

👩‍🍳What’s cooking in the newsroom?

UK judges get first-ever guidance on the use of artificial intelligence

📰News - Judges in England and Wales are now allowed to utilize generative AI systems like ChatGPT for basic tasks, as per the new guidance issued on Tuesday. However, as per the rules, legal research and analysis using AI tools should strictly be avoided.

The guidance also advises judges to be vigilant for signs that legal arguments may have been prepared using AI. Unfamiliar or non-existent cases, differing references to legal precedent, and inconsistencies in arguments could be potential indicators.

🤔What’s more? Geoffrey Vos, Head of Civil Justice in England and Wales, emphasized the groundbreaking nature of the guidance. While acknowledging the potential benefits of AI for the justice system, he stressed the need for judges to understand its capabilities and limitations.

Despite acknowledging the threat of AI-generated "deepfakes" as evidence, Vos expressed confidence in judges' ability to discern genuine arguments. He emphasized their training in discerning truth from falsehood.

Vos, who previously assured lawyers of AI's non-threatening nature, also envisions the technology's potential role in resolving low-level disputes, albeit in the distant future.

EU prepares to implement AI Act, technical meetings to start from Tuesday

📻News - EU countries and lawmakers have begun hammering out the specifics of the landmark AI Act, following their agreement on a provisional deal last Friday. Over a series of scheduled technical meetings beginning on Tuesday, government officials and aides of lawmakers will delve into crucial details such as:

• Scope of application: Defining which AI systems fall under the Act's purview.

• Governmental use of AI: Establishing the legal framework for AI in biometric surveillance by governments.

• Copyright concerns: Addressing copyright issues raised by foundation models, like large language models.

• Regulation of major AI systems: Determining how to regulate powerful AI systems like ChatGPT.

This follows the EU's historic agreement on the AI Act, after marathon negotiations spanning over three days. This agreement positions the EU as a pioneer in enacting global regulations governing the rapidly evolving AI industry.

Well, the agreed-upon text will undergo a formal editing process, culminating in a consolidated version.

AI financial analyst to debut in South Korea next year

🗞️News - The Korean securities industry is embracing a groundbreaking shift with the arrival of AI-powered financial analysts. This new technology promises to revolutionize how investments are analyzed and reported, moving beyond simple data gathering and translation into insightful analysis and report generation.

🤓Which company is leading the charge though? Leading the charge is Mirae Asset Securities, currently training AI to analyze vast amounts of data, including company performance and stock price trends. This marks the first instance of AI being deployed for more than just data processing but for actual analysis and report writing.

The industry is welcoming this innovation with optimism. AI analysts will free up human analysts' time and resources, allowing them to delve deeper into a wider range of companies. This will provide investors with a more comprehensive and diverse pool of information to inform their investment decisions.

While the details are still being finalized, Mirae Asset is expected to debut its AI analysts as early as next month. This marks a significant step forward for the Korean securities industry and paves the way for a future where AI plays a central role in financial analysis and decision-making. The success of this initiative could have broader implications for the global financial industry.

👩🏼‍💻What else is happening?

• PM Modi to inaugurate Global Partnership on Artificial Intelligence Summit on Tuesday

• U.S. in talks with Nvidia about AI chip sales to China

• Microsoft, AFL-CIO reach deal on AI, labor neutrality

• Sam Altman defends AI thrust days after retaking OpenAI’s helm

• Fastweb to develop a native Italian-trained AI language model

📺AI-based series

• Battlestar Galactica (2004-2009) - A sci-fi series depicting the last remnants of humanity searching for a new home, battling sentient robots called Cylons. The narrative delves into complex themes like survival, identity, and the blurred lines between man and machine. The show is known for its gripping storyline, and moral dilemmas, that continue to resonate with audiences.

• Knight Rider (1982-1986) - A classic '80s TV series featuring Michael Knight, a crime fighter aided by KITT, an intelligent, talking car. The show blends action, adventure, and technology as the duo combats crime. As the show progressed, KITT, equipped with AI, became an iconic character, contributing to the series' popularity and cultural impact.

• Dark Matter (2015-2017) - A sci-fi series following a group of individuals who wake up on a spaceship with no memory of their past. At the heart of the narrative is the Android, a humanoid robot serving as the ship's primary system. Designed to mimic human appearance and behavior, she stands out for her advanced cognitive abilities, which make her an indispensable member of the crew.

👩🏼‍🚒Discover mind-blowing AI tools

1. Dreamy Paws - A tool that creates customized art of pets using AI

2. Botsy Gifts - Helps users find gift ideas based on their loved one's social media accounts

3. AtFirst - Offers daily affirmations to guide and empower users on their journey of self-discovery

4. Llama2 by Meta - An open-source large language model developed by Meta, available for both research and commercial use

5. MagicSchool.ai - Designed to assist educators in various tasks, such as lesson planning, differentiating instruction

6. Receipt AI - A receipt management tool that allows users to text their receipts instead of using traditional methods

7. Abridge - Helps doctors and patients improve their healthcare conversations

8. Homestyler - Offers a range of tools and features for interior design, home renovation, and real estate

9. Promotee - Helps SaaS founders with their Reddit marketing efforts

10. Thing Translator - Allows users to use their phone's camera to translate physical objects from one language to another

11. Typeboss - It is a user-friendly AI copywriting tool, powered by OpenAI's GPT 3.5 model

💰Use AI for passive income

• AI investments - Use AI for financial market analysis, and streamline investment strategies. Generate income by making informed decisions that optimize returns and enhance overall portfolio performance.

• Stock image royalties - Use AI to generate unique stock photos or enhance existing ones. Sell these images on stock photography platforms, earning royalties each time they are downloaded or purchased.

• Digital/ affiliate marketing - Employ AI tools to generate blog content automatically. Once you build a substantial follower base, strategically integrate ads, affiliate marketing, and sponsored posts to establish a sustainable source of passive income.