AI and the Role of the Board of Directors

Welcome,

In recent developments, the intersection of AI and corporate governance has been spotlighted, emphasizing the pivotal role of board oversight in steering AI-centric corporate strategies and ensuring legal adherence. This is mirrored in a broader societal framework at the UN forum in Kyoto, delving into AI's global governance and anti-disinformation measures. Meanwhile, the surge of Generative AI, propelled by models like GPT-4, marks a significant stride, promising transformative applications across various sectors, although a majority of US executives anticipate a 1-2 year timeline before deploying their first generative AI application. On a cautionary note, the BBC joins other content providers in ring-fencing its material from AI's grasp, addressing copyright qualms. In the commercial sphere, Meta ventures into offering generative AI tools for advertisers, heralding new horizons in content creation. Additionally, the financial ecosystem witnessed EdgeCortix, a Japanese AI semiconductor firm, securing $20 million in funding, aiming to drive forward low-latency AI acceleration and foster generative AI innovations, underlining the persistent financial backing and faith in AI's transformative potential.

Sliced:

• 🧑🏽‍💼 AI and the Role of the Board of Directors

• 🏢 Generative AI Unleashed: Charting The Enterprise Future

• 🏯 U.N. forum on internet governance begins in Kyoto, focus on AI

• 🪛 BBC Will Block ChatGPT AI From Scraping Its Content

🧑🏽‍💼 AI and the Role of the Board of Directors

The article discusses the disruptive potential of AI on industries, emphasizing the importance of board oversight in managing AI-related corporate strategies, risks, and compliance. It suggests a three-fold approach for boards: understanding AI's strategic and risky facets, assessing its impact on various stakeholders and the environment, and ensuring legal and regulatory compliance through developed policies and controls. The piece also highlights the utility of the NIST AI Risk Management Framework in addressing AI risks, and underscores the ongoing efforts to mitigate AI-associated risks, thereby stressing the crucial role of boards in navigating the AI landscape.

🏢 Generative AI Unleashed: Charting The Enterprise Future

The rapid emergence of Generative AI, capable of producing novel, high-quality data from prompts, signifies a turning point for businesses across sectors. The article highlights its transformative use cases in life sciences for drug discovery, and in the oil & gas industry for optimizing drilling paths and generating reservoir insights. The advancement is powered by Large Language Models like GPT-4, benefiting from reduced computing costs and substantial investments from leading AI labs. While 65% of US executives foresee a significant impact of generative AI in the near future, 60% believe they're 1-2 years away from deploying their first generative AI application.

🏯 U.N. forum on internet governance begins in Kyoto, focus on AI

The UN forum on Internet governance commenced in Kyoto, focusing on AI and anti-disinformation measures. The discussions' outcomes will contribute to the Hiroshima AI Process by the G7 nations to formulate AI-related regulations. Digital Minister Taro Kono emphasized international collaboration in a session titled "Understanding 'Data Free Flow with Trust (DFFT)'," amid an attendance of around 6,000 individuals from various sectors. The forum also includes a session on combating fake AI-generated media on social platforms.

🪛 BBC Will Block ChatGPT AI From Scraping Its Content

In a move to safeguard its content, the BBC has restricted the AI software powering ChatGPT from accessing or utilizing its material due to copyright and privacy concerns. This decision emerged from apprehensions about AI tools potentially violating copyright laws. The public broadcaster's action aligns with similar steps taken by Reuters and Getty Images, demonstrating a growing trend among content providers to shield their work from being repurposed by AI technologies.

🛠️ AI tools updates

Meta starts rolling out generative AI tools for all advertisers

Meta has begun deploying generative AI tools for advertisers, enabling the creation of content such as image backgrounds and text variations. Initially tested in May with a select group, these tools will be fully rolled out via Meta's Ads Manager by next year. This move, marking Meta's initial venture into integrating generative AI for creating new content from historical data, is part of a broader initiative, including the recent enablement of AI for business messaging on platforms like Messenger and WhatsApp.

💵 Venture Capital updates

Japanese AI semiconductor firm EdgeCortix closes $20M in additional funding round

Japanese AI semiconductor firm EdgeCortix secured $20 million in a funding round led by SBI Investment Co. Ltd. and Global Hands-On VC, with participation from Renesas Electronics Corporation, among others. The funds will advance the next-gen SAKURA hardware products, expand global sales, and enhance engineering capacities in Japan and a new development center in India. This investment aims to accelerate EdgeCortix's mission of delivering low-cost, low-latency AI acceleration with industry-leading energy efficiency to complex computing systems, further fostering innovations like low-power multi-modal generative AI and efficient language model capabilities for edge devices.

🫡 Meme of the day

⭐️ Generative AI image of the day

Before you go, check out could future AI crave a favorite food?