Microsoft Invests $1.5b in G42, Google to outpace Microsoft in AI investment

This week: 

• AI in Business: Inclusive AI practices are required for the successful integration of employees. 

• Big Tech ramps up AI investment: Google predicted to outpace Microsoft. 

• AI for Good: New York City-based Hatch secures $3 million in seed funding for its AI-based fundraising portal 

💼 AI in Business

 For Success with AI, Bring Everyone On Board 

An article for Harvard Business Review discusses employee alienation as AI advances. Prioritizing their input in tech adoption is crucial for successful integration. 

• AI adoption is intimidating employees as machines take over intellectually demanding tasks previously done by humans. 

• 80% of organizations aim for hyperautomation, but often exclude employee feedback in the adoption process. 

• Exclusion leads to aversion to AI, lack of trust, and resistance, hindering its effective use. 

• Human-AI collaboration is promising but requires inclusive leadership and practices. 

• AI cannot replace human thinking and creativity; it lacks the ability to infer meaning, draw analogies, or understand context. 

• Three reasons for employee alienation: loss of autonomy, lack of understanding, and creation of business silos. 

• Inclusive AI practices involve creating social connections, facilitating collaboration between tech and non-tech teams, developing leadership skills, and rewarding human contributions. 

• Successful AI adoption requires managers to learn enough about AI, foster human-to-human connections, and reward employees for their contributions. 

Microsoft Invests $1.5 Billion in AI Firm G42 

• Microsoft invests $1.5 billion in Abu Dhabi-based AI firm G42, strengthening their partnership. 

• G42 will run AI applications on Microsoft Azure, providing advanced solutions to global clients. 

• Collaboration aims to bring AI and digital infrastructure to the Middle East, Central Asia, and Africa. 

• Microsoft President Brad Smith joins G42 board; $1 billion fund created for AI developers. 

• UAE could serve as a "regulatory sandbox" for AI experimentation, says OpenAI CEO. 

• G42 reduces presence in China amid concerns; focuses on partnership with Microsoft. 

• AI's potential to reshape industries and drive economic growth in the Middle East highlighted. 

• By 2030, the Middle East could capture 2% of AI's global benefits, amounting to $320 billion. 

• Successful AI development could spur innovation, startups, and knowledge economy growth in the region. 

DeepMind CEO - Google will outpace Microsoft in AI investment  

• DeepMind CEO Demis Hassabis confirmed Google's ongoing investment in AI at the TED 40th anniversary conference. 

• Google is set to surpass $100 billion investment in AI, outpacing Microsoft and OpenAI's Stargate supercomputer project. 

• DeepMind, acquired by Google, has been a key player in AI advancements. 

• Demis emphasized the importance of avoiding an AI arms race and focusing on safe AGI development. 

• Safe AGI architectures are crucial for avoiding potential risks as AI approaches human cognitive abilities. Collaboration between AI scientists is essential for ensuring safe AGI development. 

• Hassabis envisions a future of radical abundance and maximal human flourishing if AI development is managed responsibly. 

🌐 From the Web 

AI Index: State of AI in 13 Charts 

Stanford HAI's AI Index 2024 report highlights dominance of foundation models, rising investments in generative AI, shifting benchmarks, global trends, and regulations. 

Former OpenAI Board Member Says AI Needs Reporting Mechanism 

Former OpenAI board member Helen Toner calls for AI incident reporting akin to airplane crashes, emphasizing public disclosure and independent auditing to manage risks effectively. 

NSA Publishes Guidance for Strengthening AI System Security 

NSA releases guidance on secure AI deployment, aiming to mitigate cybersecurity risks. Developed in collaboration with international agencies, it's relevant beyond national security contexts, emphasizing confidentiality, integrity, and availability. 

Booming AI demand threatens global electricity supply 

Booming AI demand strains global electricity grids, hindering growth. Tech giants like Amazon, Microsoft, and Google invest in data centers, facing power supply challenges.

 🏳️ AI for Good 

Hatch, AI Fundraising Platform Raises $3m 

• New York City-based company Hatch secured $3 million in seed funding from Differential Ventures and other investors. 

• Hatch offers AI-based fundraising portal for nonprofits, using Altruistic Intelligence to personalize donor engagement. 

• The company previously raised $2 million in total funding, including $1.5 million in pre-seed funding from various investors. 

• The funding will support user growth and development of new tools, including the upcoming Hatch certification program. 

• Hatch is led by Founder and CEO Moshe Hecht, formerly of charidy.com, and CTO Eyal Beigman. 

• Hatch's approach focuses on democratizing philanthropy, moving away from exclusive reliance on wealthy donors. 

• Current and past users of Hatch include various nonprofit organizations such as the American Committee for Shaare Zedek Medical Center and Volunteers of America. 

🤖 Prompt of the week 

Act as a data generator and create a synthetic dataset with [number of features] features and [number of instances] instances. 

See you next week, 

Mukundan 

The Data Talent Pulse is brought to you by TeamEpic, a trusted global AI Talent provider. Learn more about us here.