Singapore's big AI bet

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Today we will be talking about-

• 🚓How AI will help JLR navigate supply chain crisis

• 🤖Singapore is not rushing to set AI regulation

• 🎃France's desire to be the AI hub of Europe 

All this and more - Let's dive in!

🍳What’s cooking in the newsroom

JLR uses AI to solve supply chain issues with Everstream Analytics

📰Context of the News - The global shortage of semiconductor chips is a major challenge for the automotive industry. JLR (Jaguar Land Rover) was one of the automakers that was hit particularly hard by the shortage of semiconductor chips. This issue also caused JLR to lose market share to its competitors.

📻News - To address that problem, JLR on Monday announced its partnership with Everstream Analytics to use artificial intelligence (AI) to help the company better manage its supply chain. Everstream Analytics is a supply chain mapping and risk analytics firm that uses AI to help companies identify and mitigate supply chain risks.

The technology would use a combination of artificial intelligence, predictive analytics, machine learning, and human intuition to plot emerging incidents on a global map.

🤔But how would AI actually help JLR?

• The AI will be able to identify potential disruptions to JLR's supply chain, such as factory shutdowns, port delays, and natural disasters.

• For example, the AI could identify a potential factory shut down in China and alert JLR to the risk of a shortage of components. JLR could then take steps to mitigate the risk, such as by stockpiling components or finding alternative suppliers.

• Everstream's technology can monitor social media for signs of unrest at freight ports. If there is a risk of a strike or other disruption, Everstream can alert JLR so that the company can take steps to avoid or minimize the impact of the disruption.

Singapore takes a wait-and-see approach to AI regulation

♨️News - Singapore is not currently looking to regulate AI, but is instead taking a "wait-and-see" approach.

Lee Wan Sie, director for trusted AI and data at Singapore's Infocomm Media Development Authority, revealed that the government is "still learning about AI" and that it wants to "see how AI develops before making any decisions about regulation."

😧So how is the government learning about AI?

• Well, the Singapore government is doing so by calling for companies to collaborate in the world's first AI testing toolkit — called AI Verify. It was launched as a pilot project in 2022.

• AI Verify is a toolkit that helps companies to assess the trustworthiness of their AI systems. It enables users to conduct technical tests on their AI models and record process checks. This helps companies identify and mitigate the risks of AI, such as bias and discrimination.

🌟Any pros? If regulators regulate AI too early, they may inadvertently stifle innovation or create unintended consequences. By taking a wait-and-see approach, regulators can give themselves time to assess the risks and benefits of AI and to develop regulations that are effective and proportionate.

France makes a major push to position itself as Europe's hub for AI

News - France is investing heavily in artificial intelligence in order to become the leading AI hub in Europe. AI is a fast-growing and much-hyped technology, and France is hoping to capitalize on this by becoming a major player in the field.

France's AI push is being seen as a challenge to the United States, which is currently the world leader in AI research and development. However, France is well-positioned to compete with the United States, as it has a strong research base and a pool of talented AI professionals.

🤓Is the French government taking any initiatives though?

• The Macron govt. recently announced that a €1.5 billion investment fund will be used to support AI research and development projects.

• The French government is also creating a new AI research institute. This institute will be a world-class research center focused on AI. The institute will bring together researchers from academia, industry, and government to work on cutting-edge AI research.

• The government is also working to develop ethical guidelines for the use of AI. These guidelines will help to ensure that AI is used in a responsible and ethical way.

🧐What else is happening?

• Oracle announces new generative AI services for businesses

• Meta's plan to offer free commercial AI models puts pressure on Google and OpenAI

• Restaurants turn to AI to streamline food prep and ordering

• Grammys outline new rules for AI use in the music industry

• AI program translates 5,000-year-old cuneiform

🙋Did you know?

• The first AI program to recognize faces was created in 1998 by Mitsubishi Electric. The program was called Face Recognition System, and it was able to recognize faces with 90% accuracy.

• The very first AI program to write news articles was created in 2012 by The Associated Press. The program was called Wordsmith, and it was able to write news articles that were indistinguishable from those written by humans.

• Ada Lovelace, an English mathematician, is often regarded as the world's first computer programmer. In the mid-1800s, she wrote the first algorithm designed to be processed by a machine. Her work on Charles Babbage's Analytical Engine laid the foundation for modern computing and is considered an early precursor to AI.

🤯 Discover mind-blowing AI tools

1. Movio - Helps you quickly create engaging videos from your marketing text

2. Komo Search - Leverages generative AI to put your search journeys first

3. QuickVid - Create YouTube shorts 10x faster

4. TL;DV - An AI tool that boosts virtual meetings' efficiency and productivity for teams

5. Codeium - Enables developers to quickly make changes to unfamiliar languages and codebases

6. Facetune - An online photo and video editing tool that allows users to create AI avatars

7. Decktopus - Free AI-generated prompt template that helps you create captivating product launch copy

8. Spline 3D - Create objects, animations, and textures using prompts

9. Waymark - Video production tool that helps businesses create high-impact ads quickly and easily

10. Taplio - An all-in-one tool for creating and managing LinkedIn content

🌟Mythbuster

Myth: AI is a recent development.

Fact: AI has a long history that dates back to the 1950s. The field has evolved over the decades, with various milestones, breakthroughs, and setbacks. While recent advancements in computational power and data availability have accelerated progress, AI research and development have been ongoing for more than half a century.