This Week in Generative AI - 24 to 31 July

Australia To Gain US$1.15bn From Generative AI By 2030

According to a report by Microsoft and the Tech Council of Australia, Australia could see a boost of $45 billion to $1.15 billion annually in its economy by 2030 if it accelerates the responsible deployment of generative artificial intelligence (GAI).
The report highlights the potential of GAI to improve existing sectors and create new goods and services, contributing to economic growth.
The gains primarily come from increased employee productivity by automating repetitive tasks.

France and Britain are competing to become Europe’s capital for artificial intelligence (AI).
French President Emmanuel Macron announced 500 million euros in new funding for AI, while British Prime Minister Rishi Sunak pledged £1 billion for supercomputing and AI research.
Both countries aim to catch up with the US and China in the AI market.

Senators Elizabeth Warren and Lindsey Graham have proposed the creation of an independent agency to regulate and license Big Tech companies.
The Digital Consumer Protection Commission Act aims to protect consumer data, privacy, and competition while addressing cyberbullying and generative artificial intelligence.
The bill has no co-sponsors yet, and its future is uncertain.

The United Nations has launched the Global Initiative on AI for Health, a new initiative to scale up artificial intelligence (AI) solutions for healthcare.
Spearheaded by the ITU, WHO, and WIPO, the initiative aims to develop standards, facilitate knowledge sharing, and support evidence-based decisions on using AI in healthcare.

Samsung is working on integrating generative AI into its devices, including phones, tablets, watches, and earbuds.
The company sees wireless earbuds as a good platform for generative AI, and they are also exploring how to incorporate it into their S Pen and other products.
Samsung aims to bring the power of generative AI to portable tech.