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Here are 5 things you missed today in the world of AI. Because we get it, life is busy & who has the time to sit around and keep up with the fastest moving industry right now - here are 5 things we think you need to know in the world of AI.

1 - 💰 Meta's AI Bet Pays Off: Stock Soars 11%

Meta's stock soared after reporting strong second-quarter earnings and lower-than-expected AI spending, defying the trend of tech giants struggling to justify hefty investments in artificial intelligence. The company's successful monetization of AI, coupled with its ambitious plans for its Llama model, has positioned Meta as a frontrunner in the AI race, boosting investor confidence.

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2 - 💥 Reddit CEO Blasts Microsoft, AI Startups Over Data Scraping

Reddit CEO Steve Huffman is cracking down on AI companies that are using the platform's content without permission to train their models. After striking a lucrative deal with Google, Reddit has blocked other tech giants like Microsoft from accessing its data. This move highlights the growing tensions over data ownership and usage in the AI industry, as companies scramble to secure valuable content for their models while facing backlash from creators and platforms alike.

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3 - 💸 TikTok is Microsoft's AI Cash Cow: Report

TikTok was a major customer for Microsoft's cloud AI business, shelling out nearly $20 million per month to access OpenAI's models. This lucrative partnership accounted for nearly a quarter of the division's revenue. However, TikTok's reliance on these models could be short-lived as the company is developing its own large language model, a move that could potentially impact Microsoft's bottom line.

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4 - 🗣️ ChatGPT's New Voice: Sings, Mimics, and Cracks Jokes

ChatGPT's new advanced voice mode is wowing early users with its impressive capabilities. From mimicking accents and telling captivating stories to even singing and understanding multiple languages, the AI is showcasing remarkable vocal dexterity. While the feature is currently exclusive to a select group of ChatGPT Plus subscribers, OpenAI has promised a wider rollout this fall, much to the anticipation of eager users everywhere.

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5 - 🚨 World's First Major AI Law Takes Effect: Big Tech on Alert

The European Union's groundbreaking AI Act is now in effect, marking a significant shift for tech giants like Microsoft, Google, and Meta. This landmark legislation imposes strict regulations on AI development and usage, with a particular focus on high-risk applications. While aiming to protect citizens, the law is set to reshape the global tech landscape, as companies grapple with new compliance challenges and potential hefty fines.

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Written by AI Bulletin team - Australia
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