Coming up this week:

- Apple: New AI Updates
- Google: Using AI More & More
- Elon Musk: Withdraws Lawsuit
- Microsoft: Adjusts Recall Feature

And much more… Learn how these unfolding narratives are shaping The Business of AI.

FEATURED STORY 🔥

Apple Unveils AI System and Major Updates at Developers Conference

Apple has revealed its first AI system, Apple Intelligence, at the Worldwide Developers Conference.

The system will be integrated into iPhones, iPads, and Macs, offering new capabilities such as image generation and text summarization. Apple Intelligence emphasizes security, deciding whether to use on-device processing or Apple's private cloud server.

Siri, Apple's voice assistant, will also receive an AI upgrade, including integration with OpenAI's ChatGPT chatbot. New AI features will be introduced across Apple's apps in iOS 18, including email summarization, custom emoji creation, and AI-powered transcriptions. iOS 18 will also offer a more customizable Control Center and app icon placement.

Other updates include a Photos app redesign, a new Game Mode, and support for RCS. Apple TV Plus will introduce a feature identifying actors onscreen, and a new Passwords app will manage login details across devices.

The iPad will finally receive a Calculator app, and the next macOS update will allow iPhone mirroring. New features for watchOS 11 include automatic widget addition and a new Vitals app. Lastly, the next AirPods Pro update will introduce Siri Interactions.

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TRENDING STORIES 🔥 

AI Revolutionizes Software Development at Google

By 2024, Google has significantly advanced its software development tools using AI, particularly through machine learning-based autocomplete features. These enhancements have improved productivity and satisfaction among engineers, demonstrating a successful integration of AI in daily coding activities. Further AI applications are planned to expand in the coming years.

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Elon Musk Withdraws Lawsuit Against OpenAI

Elon Musk has retracted his lawsuit against OpenAI and its co-founders, citing breach of contract and fiduciary duty. The case, which questioned OpenAI's shift to a for-profit model, was dismissed without prejudice just before a scheduled court hearing.

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Microsoft Adjusts Windows 11 Recall Feature

Microsoft will make the Recall feature in Windows 11 optional, addressing privacy concerns. Initially set to be default, the feature captures PC activity. Changes include mandatory authentication for access and enhanced data protection. The update follows security expert critiques and will debut in Copilot Plus PCs on June 18.

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AI Image Of The Week 📷️ 

MJ Prompt: Full face realistic portrait of stunningly beautiful ravishing Russian blonde model with brown eyes, no contrast, studio lighting, Vogue magazine photo

EYE OPENING NEWS 🧠 

Chinese Firms Circumvent U.S. Chip Restrictions

Despite U.S. bans on exporting advanced AI chips to China, Chinese companies like ByteDance and China Telecom are leasing these chips from U.S. providers for stateside use. Discussions for similar arrangements involve major cloud providers Alibaba and Tencent.

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OpenAI CTO Defends Privacy Practices

OpenAI's CTO, Mira Murati, responded to Elon Musk's criticism of their Apple integration, emphasizing user privacy and security. She highlighted the company's commitment to transparency during a speech at Fortune's event. Musk had previously labeled the technology as "creepy spyware" and threatened a ban on its use in his companies.

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Adobe Clarifies Terms Amid User Outcry

Adobe faced backlash after updating its terms, suggesting control over user content. Users had to accept new terms to access apps, sparking confusion and anger. Adobe later explained the changes were for content moderation and thumbnail creation, assuring users they retain ownership of their work.

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California AI Firms Oppose "Kill Switch" Bill

California's proposed AI regulation bill mandates strict safety measures, including a mandatory "kill switch" for AI models. This has sparked protests from major AI companies, fearing it will stifle innovation and drive startups out of the state. The bill awaits a vote in August.

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EU Launches AI-Powered Climate Simulator

The European Commission introduced Destination Earth, an AI-driven simulator designed to enhance climate prediction accuracy. It features models for extreme weather and adaptation strategies, utilizing Europe's supercomputers and AI for detailed environmental monitoring and future scenario predictions. This marks the completion of the project's first phase.

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5 Tools to Boost Your Productivity

- Generate personalized visually stunning stories in just one minute. Dorosi
- Generate videos from simple text in one minute. Moonvalley
- Craft social media posts and art, in just seconds with AI. Questgen
- Generate high-quality, engaging content 10x faster. Vidiofy
- Chat, generate, and design without limits using Generative AI. Venturus AI

Want your tool featured here? Hit reply and tell us a little about it 😍 

FUNDRAISING 🤑 

Mistral AI Secures $643.7M in Latest Funding

Mistral AI raised $643.7 million, reaching a $6.2 billion valuation. Led by General Catalyst, the round included Lightspeed and Nvidia, among others. The AI firm, competing with OpenAI, plans to expand in the U.S. and enhance its capabilities.

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Twelve Labs Secures $50M in Series A Funding

Twelve Labs, a video understanding company, raised $50 million in Series A funding led by NEA and NVentures. The San Francisco-based firm plans to expand R&D and double its workforce, enhancing its technology for intelligent video searchability.

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Tektonic Launches with $10M Seed Funding

Seattle-based startup Tektonic has emerged from stealth, announcing a $10 million seed investment led by Point72 Ventures and Madrona Ventures. The company integrates generative AI with traditional methods to enhance workflow automation, focusing on complex business processes like quotes and renewals.

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Particle Secures $10.9M in Series A Funding

Particle, an AI-driven news platform, announced a $10.9 million Series A funding round led by Lightspeed Venture Partners. This investment boosts Particle's valuation and supports its U.S. launch, team expansion, and publisher partnerships. Total funding now stands at $15.3 million.

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