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 & Britain Announce AI Investment of Over $1.5bn
- 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.
US Senators Propose New Agency to Regulate Big Tech & AI
- 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.
New UN Initiative Aims to Step Up AI’s Contribution to Health
- 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.
Gen AI is Coming to Samsung Galaxy Phones, Tablets and Watches
- 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.