🤖 Dropbox lays-off 500 people, pivots to AI

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AI and Machine Learning

FTC Chairwoman: There is no ‘AI exemption’ to existing laws (2 minute read)
During a virtual press event, Chairwoman of the Federal Trade Commission (FTC) Lina Khan and other top officials from US consumer protection and civil rights agencies warned against the harmful business practices involving artificial intelligence (AI). Khan emphasized the regulators' commitment to monitoring and stopping any illegal behavior associated with biased or deceptive AI tools. She also expressed concern about the rapid development of advanced AI tools that can generate human-like content, presenting a significant risk.

OpenAI adds a more private option to ChatGPT (1 minute read)
OpenAI has introduced a new feature to ChatGPT for users who want to ensure their data is not being used to train the company's algorithms. The new option is intended to address privacy concerns that have arisen with the rise of generative AI, as users' data can be used to train the same engines that could then expose sensitive information. The new mode in ChatGPT operates similar to incognito mode in web browsers, where the queries and responses are not saved in the chat history and no information entered is used to train the engine. This new feature aims to provide users with greater control over their data privacy.

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Business

Dropbox is laying off 500 people and pivoting to AI (2 minute read)
Cloud storage company, Dropbox, is set to lay off about 500 employees, which represents about 16 percent of the company's workforce. The CEO of Dropbox, Drew Houston, attributes the layoffs to a tough economic environment. However, Houston also suggests that these cuts will enable the company to build out its artificial intelligence (AI) division, as Dropbox seeks to bring in more skilled staff in AI and early-stage product development for its next stage of growth. Although the company has attempted to re-allocate its employees to different teams, the new skills required by the firm for future growth necessitate further restructuring of the workforce.

Microsoft Designer's AI-infused alternative to Canva is now available for all to try (2 minute read)
Microsoft's AI-powered creative graphics tool, Designer, is now available to all users. The tool, which was previously accessible via a waitlist, is now open for anyone to use. Similar to Canva, Designer allows users to create graphics and designs. However, what sets Designer apart is the incorporation of the same technology behind Bing Chat, Bing Image Creator, and Copilot. Users only need to enter a text prompt, and the AI will generate a range of options to choose from, providing an effortless design experience. The availability of Designer to all users reflects Microsoft's ongoing investment in AI-driven tools and their desire to make these technologies accessible to everyone.

Replit, the web-based IDE developing a GitHub Copilot competitor, raises $100M (2 minute read)
Replit, a startup developing a generative AI-powered tool called Ghostwriter, has raised nearly $100 million ($97.4 million) in a Series B extension funding round led by Andreessen Horowitz, with participation from Khosla Ventures, Coatue, SV Angel, Y Combinator, Bloomberg Beta, Naval Ravikant, ARK Ventures, and Hamilton Helmer. The funds will be used to enhance the company's core product experience, expand its cloud services, and drive innovation in AI. Replit is an IDE (Integrated Development Environment) startup that aims to empower software developers worldwide. The funding round brings the total raised by Replit to over $200 million and highlights investors' increasing interest in generative AI technologies.

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Misc

Marvel Director expects fully AI-generated movies within two years (2 minute read)
Joe Russo, who directed "Avengers: Endgame" and other big Marvel movies with his brother, discussed in a recent panel interview with Collider his thoughts on how AI might impact the film industry. Russo believes that AI has the potential to engineer storytelling, allowing for constantly evolving stories. He expects that AI will be able to create a fully-fledged movie in about two years, given the generation's familiarity and lack of fear of AI. Additionally, Russo predicts that modern TVs will soon have enough processing power to render anything in real-time. The potential for AI in the film industry is rapidly evolving, and it will be interesting to see how it develops in the years to come.

Russia's Sberbank releases ChatGPT rival GigaChat (1 minute read)
Sberbank, a Russian lender, has announced the release of its own AI chatbot technology called GigaChat. Currently, GigaChat is in an invite-only testing mode and is intended to compete with other AI chatbots like ChatGPT. One of the standout features of GigaChat is its ability to communicate more intelligently in Russian compared to other foreign neural networks.

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