We are thrilled to present to you the first half of the August AI digest. Despite the slight slowdown in AI news during the summer break, we have come across several remarkable announcements and news pieces in the fields of GenAI disruption to drug-discovery, gaming, and the recent AI Chips announcement from Nvidia. We hope you enjoy the digest and don't forget to explore the two new papers from our research team on how AI will revolutionize Pharma and Supply-chain management.
Blog post: Why PE Investors are Caring More about Artificial Intelligence Now?
Artificial intelligence has become a game-changer for businesses, and private equity (PE) investors are fully embracing its potential. By incorporating AI into their investment strategy, PE investors can not only create and capture value for their portfolio but also mitigate potential disruptions. This strategic approach will drive significant growth in both top and bottom-line performance, enhance due diligence processes, unlock value in acquired companies, and future-proof their businesses. Discover more about why PE investors are prioritizing AI in our latest blog post.
The first half of August was slow. Nonetheless, here are the top highlights, complete with links for you to delve deeper!!
- Anthropic, one of the leading GenAI startups, has unveiled Claude Instant, an upgraded version of its text-generating AI. With significant improvements in speed, structure, and cost, Claude Instant is now available over APIs. Read more here.
- inworld, an AI Gaming startup raised, over $50M led by Lightspeed Venture Partners and surpassing a $500M valuation. The new funds will accelerate R&D, talent hiring, and the Character Engine. Read more here. Last month, we published a research paper on how GenAI will disrupt the $347B Gaming industry, and this deal shows early signs of this disruption. Check out our paper for more predictions on how GenAI will disrupt the Gaming space.
- Amazon launched AWS HealthScribe is a HIPAA-eligible service that empowers healthcare software vendors to create clinical applications that automatically generate detailed clinical notes by analyzing conversations between patients and clinicians. This is likely the first HIPAA-eligible GenAI application, which is a significant step-forward to the healthcare industry.
- Google published a new paper on Brain2Music, a new technology that can use brain imaging data to generate music. According to the paper, they use functional magnetic resonance imaging (fMRI) and their MusicLM to match the musical stimuli of the human brain. Read the paper here. This comes on the heels of Google’s recent announcement on their talks with Universal Music to license artists’ melodies and voices. This development has the potential to be a major breakthrough in resolving the licensing concerns surrounding GenAI training data. Read more here.
- A new research paper highlighting the current challenges and applications of LLMs came out from Meta AI Research, along with co-authors from University College London, University of Cambridge, Stability AI and others. The research cites 16 top challenges. Among the expected challenges were the high pre-training costs, fine-tuning overhead, high inference latency, and of course hallucination. Among the unexpected but obvious in hindsight challenges are limited context length, outdated knowledge, and evaluations based on static, human-written ground truth. Read the paper here.
- Nvidia announced a new more powerful AI chip coming next year. The new chip, called GH200, will have three times the memory capacity of the popular H100 GPU and with the world’s first HBM3e processor. Read more here.
- Persist AI, an AI-driven drug formulation startup, raised $4M in seed funding after graduating YCombinator. It is worth mentioning our recent prediction that GenAI will disrupt the Pharma industry in general and AI-driven drug discovery in specific. Read our GenAI in Pharma predictions here.