Businesses using AI at risk

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Today we will discuss-

• 👨‍✈️Microsoft introduces new AI tool called Copilot

• 🚨AI regulation needs to catch up, warns UK Deputy PM

• 🥵Third-party AI tools are putting businesses at risk

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

All this and more - Let's dive in!

👩‍🍳What’s cooking in the newsroom?

Microsoft launches a unique AI tool to enhance productivity and creativity

👨‍💻News - Microsoft has been adding AI-powered assistants to its most popular products for a while now. But on Thursday, the company announced a new AI assistant called Copilot, which will unify these capabilities into a single, integrated experience. This means that Copilot will be able to help users with tasks across all of their Microsoft products, such as Bing, Edge, Windows, and Office 365.

🤝How does Copilot work though? 

• It will be able to access and process information from the web, your work data, and what you are doing in the moment on your PC. For example, if you are working on a presentation, Copilot could suggest relevant information from the web or your work data, such as statistics, images, or videos. It could also help you to write the presentation by suggesting text and formatting.

• Copilot will also be able to retain information about your previous searches and use them for future searches on the Edge browser. This can be helpful in certain scenarios, for example, if you are looking for movie recommendations and you have previously searched for sci-fi movies or documentaries, Copilot will automatically give you suggestions related to your previous search without having to mention it in your new search.

It will also be able to assist users in writing emails, texts, launching apps, controlling settings and more. The AI-assistant will be available as an app or can be accessed with a right click when needed.

UK Deputy Prime Minister to highlight urgency of AI regulation at UN assembly

📢News - Speaking at the UN General Assembly, UK Deputy Prime Minister, Oliver Dowden will warn the 193 UN member states that the regulation of artificial intelligence is lagging far behind its rapid advancements.

Dowden plans to call for a new type of international cooperation to effectively manage this emerging technology and prevent it from disrupting the world order.

The UK Deputy Prime Minister is of the opinion that tech companies should not be allowed to regulate themselves, and that governments and citizens need to be confident that the risks of AI are being properly mitigated.

🤩What’s more? This comes as the UK prepares to host an AI summit in November, aiming to establish Britain's role as a key member in both harnessing and regulating AI.

Historically, authorities have regulated scientific and technological advancements after they have been deployed and caused problems. But the UK is taking a proactive approach to AI regulation by regulating the technology as it advances, rather than waiting until it is potentially harmful.

Organizations face increased risks from using third-party AI tools, report finds

⚠️News - According to a recent research study conducted by MIT Sloan Management Review and Boston Consulting Group, out of 1,240 respondents from 87 countries and across 59 industries, 78% of organizations were found to be utilizing third-party AI tools, and a majority of them indicated exclusively relying on these third-party tools.

Adding to the concern, the report revealed that a substantial 55% of AI failures are directly linked to third-party tools.

📈But how can firms reduce risk?

• As per the report, organizations can look at a vendor's responsible AI practices. This includes looking at whether the vendor has a code of ethics, whether they are transparent about their AI development process, and whether they have mechanisms in place to address potential risks.

• Direct CEO engagement can enhance benefits and reduce the risks associated with AI use. The study found that firms with CEOs who actively participate in responsible AI through hiring, goal setting, or product-level discussions achieve 58% more business benefits than those with less-involved CEOs.

• As new local and national AI regulations emerge, organizations should adopt structured risk management practices for their responsible AI programs, especially when using third-party AI tools.

👩🏼‍💻What else is happening?

• YouTube introduces four new AI tools for content creators

• EU lawmaker urges the bloc's countries to compromise on AI rules

• Microsoft adds DALL-E 3 and new shopping features to Bing

• Poland opens investigation into OpenAI's ChatGPT following GDPR complaint

• AI tracking technology for Football boots approved by FIFA and IFAB

🤳AI-generated influencers

• Qai Qai is an AI family doll owned by Serena Williams and Alexis Ohanian. The digital darling is rapidly gaining viral status with her witty and sassy persona. On TikTok, she has 3.7 million followers, where she dances and lip-syncs.

• Blu is an AI character that portrays an alien content creator living aboard the Xanadu spaceship. His Instagram offers a unique, cosmic perspective on life. His personal mission is to take over the galaxy and build his own empire.

• Bermuda is an AI doppelgänger of Kim Kardashian. She has been an icon in beauty, fashion, health, and fitness since 2016 and has also created music covers like "Under the Bridge" on Spotify.

👩🏼‍🚒Discover mind-blowing AI tools

1. VModel - AI-powered tool that uses virtual models to showcase clothing and accessories on e-commerce platforms

2. AngelDocAI - An AI-powered tool designed to streamline the angel investing process

3. Fal.ai - An AI-powered application that allows developers to create their own applications

4. COHEZION - AI-driven analytics and insights tool designed to maximize the value of game analytics

5. Opinly.ai - A competitor research tool that automates and simplifies the process of analyzing competitors

6. Linguix - A writing assistant tool that helps improve content in multiple languages

7. Pymetrics - A soft skills platform that uses AI to improve the hiring process and talent management

8. GoodVision - A traffic data analytics suite that provides accurate insights for adaptive traffic control and urban planning

9. Dnsfilter - A cloud-based DNS service that provides threat protection and content filtering

10. Netra - AI-powered content comprehension company that analyzes videos, images, text, and audios

11. Hotjar AI - A tool that helps website owners understand user behavior and optimize their websites

12. NVIDIA Canvas - A tool that uses AI to turn simple brushstrokes into realistic landscape images

13. Qriginals - A generative art tool that lets users create personalized QR codes by adding unique designs and colors

🍿AI-based series

• Humans (2015) - It is a sci-fi television series set in a parallel present where humanoid robots known as "Synths" have been developed to assist humans with various tasks. The series explores the social, ethical, and emotional implications of living alongside these synthetic beings and the consequences of creating sentient machines.

• Better Than Us (2019) - The show revolves around the intertwining lives of several characters, including a divorced father and a rebellious teenager, who come into contact with a highly advanced and illegal Bot named Arisa. The series garnered attention for its thought-provoking narrative and its examination of the implications of advanced AI and robotics.

• Omniscient (2020) - The show is set in a futuristic world where every citizen is surveilled by tiny drones that record their every move and ensure that crimes are almost non-existent. The series combines elements of science fiction, crime drama, and dystopian fiction to explore the trade-off between security and personal freedom in a tech-driven society.