Daily AI NEWS - June 20, 2024
Nvidia, Adobe, and AI

Nvidia’s market cap closed on June 18th at $3.335 trillion, riding an AI boom powered by the company’s GPUs. This remarkable surge pushed it past Apple, Google, and Microsoft.

Explosive share price growth, driven by demand for its chips and an investor frenzy over artificial intelligence, has helped Nvidia leapfrog Microsoft and Apple to become the most valuable company in the world.

The company’s expansion into cloud services has given it leverage over its customers, like Amazon. This demonstrates Nvidia's growing influence in both computing hardware and cloud industries.

Ilya Sutskever has launched Safe Superintelligence Inc. after leaving OpenAI. The new venture aims to create a powerful AI system, prioritizing AI safety. Sutskever is joined by former OpenAI researcher Daniel Levy and Daniel Gross, co-founder of Cue and ex-AI lead at Apple.

In a separate initiative, OpenAI has partnered with Color Health to enhance cancer care. The collaboration focuses on accelerating the treatment process, highlighting OpenAI's expansion into healthcare applications.

Luma has showcased its AI tool with reels featuring a Pixar-like movie and even a familiar character, demonstrating the potential of their text-to-video generator.

Runway introduced their Gen-3 Alpha AI video generator, capable of producing detailed humans and surreal scenarios, including scenes with giant cotton candy monsters.

TikTok's Symphony suite has launched, bringing generative AI to its platform to enhance creative content creation, while Google's new tool converts video visuals into synced audio using on-screen action and textual prompts.

Adobe has updated its terms of service, explicitly stating that user-created content won't be used to train its Firefly AI, unless uploaded to Adobe Stock. Meanwhile, Adobe's competitors are seizing the opportunity to attract customers.

Adobe is under scrutiny as the US government has sued the company, accusing it of hiding expensive fees and complicating the subscription cancellation process. The FTC claims Adobe's cancellation system is a deliberate deterrent.

Further allegations suggest Adobe locked users into costly Creative Cloud plans with misleading information. This legal challenge poses a significant threat to Adobe's reputation and business practices.

A 43-page IMF report warns of 'profound concerns' about massive labor disruptions and inequality due to AI. The report finds AI presents "significant risks" and recommends policymakers remain flexible. Similarly, a new Citi report indicates more than half of banking jobs could be automated by AI, but banks will be slow to adopt these changes.

Despite these risks, businesses are rushing to use generative AI, with companies often being slow and careful when adopting new tech, according to a Bain survey. In another development, Stanford researchers have achieved an AI breakthrough in the treatment for depression, leading to new methods in categorizing the illness.

In the realm of SEO, AI growth has led to changes in Google search business, impacting SEO and reshaping the industry. The intersection of AI and SEO is expected to cause significant chaos as these technologies evolve.