Mira Murati launches new AI startup, Perplexity enables internal document search, and Nvidia’s new model surpasses GPT-4 in benchmarks
Mira Murati launches new AI startup, Perplexity enables internal document search, and Nvidia’s new model surpasses GPT-4 in benchmarks
Artificial Intelligence news, week 43/2024
Happy Thursday everyone!
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News 🗞️📰
Meta releases new AI research and models for open science Meta FAIR has released a series of new research tools to support open science and reproducibility, aiming at achieving advanced machine intelligence (AMI). Key releases include Meta Segment Anything 2.1 (SAM 2.1) for image and video segmentation, Meta Spirit LM for integrating speech and text, and Layer Skip, which enhances large language models by reducing generation time. Other releases include a post-quantum cryptography tool (SALSA), a new model training codebase (Meta Lingua), and datasets to facilitate AI-assisted materials discovery (Meta Open Materials 2024).
Perplexity Enables Enterprise Users to Search Internal Files and the Web
Perplexity has introduced an Internal Knowledge Search feature, allowing enterprises to search across both their internal files and the web using a unified platform. Users can upload specific files, such as PDFs and Excel sheets, to search alongside internet sources. The platform also introduced "Spaces" for sharing research within teams. The tool integrates with services like Crunchbase and FactSet, enhancing its data capabilities
Nvidia unveils AI model surpassing GPT-4 Nvidia quietly launched Llama-3.1-Nemotron-70B-Instruct, an AI model that outperforms OpenAI's GPT-4 across multiple benchmarks. This new model excels in key areas like language understanding and generation, demonstrating Nvidia's shift from a hardware-focused company to a major player in AI software development. With powerful performance and customizable features, it offers businesses a cost-efficient AI solution. Nvidia’s move intensifies competition in the AI space, pushing innovation and challenging industry leaders like OpenAI.
Microsoft introduces AI employees to handle client queries Microsoft has unveiled autonomous AI agents that can handle tasks such as client queries and sales lead generation. Customers can build custom agents or use pre-built ones for roles like supply chain management. Early adopters include McKinsey and Pets at Home. The AI agents, powered by Microsoft's in-house models and OpenAI, aim to boost productivity by automating routine tasks. CEO Satya Nadella emphasized how these agents will reduce "drudgery" and improve workplace efficiency.
Former OpenAI CTO Mira Murati fundraising for new AI startup Mira Murati, who recently stepped down as CTO of OpenAI, is reportedly raising over $100 million in venture capital for her new AI startup. The company aims to develop AI products based on proprietary models. Murati, who previously worked at Tesla and Leap Motion, stated she left OpenAI to explore her own projects. Several other OpenAI executives have also departed recently, following OpenAI’s historic $6.6 billion funding round.
Midjourney to launch AI-powered image editing tool for the web Midjourney is set to release an upgraded web tool allowing users to edit any uploaded images using its generative AI. The tool will enable users to retexture objects and modify colors and details based on captions. Initially available to a select group, it will include human and AI moderation to prevent abuse. This release raises concerns about the potential for deepfakes and copyright issues, especially as deepfake creation has surged by 900% this year.
Funding 💼💸
Move AI Raises $1.4 Million to Ease Moving Move AI, founded by former Apple executive Phil Salesses, has raised $1.4 million in a pre-seed round to simplify the moving process with artificial intelligence. The company's mobile app automates inventory listing by scanning homes, offering customers tailored options and accurate cost estimates. Move AI aims to streamline the traditionally chaotic moving experience by automating repetitive tasks. The round was led by MIT machine learning expert Anmol Madan
Vultron secures $4.85M Seed Round for AI Proposal Platform Vultron, an AI-driven proposal development company, has raised $4.85 million in a seed round led by Craft Ventures and Long Journey Ventures. The startup, founded by CEO Mac Liu, focuses on automating proposal workflows for government contractors, achieving up to 86% efficiency and a 54% reduction in costs. The round also included South Park Commons, Conviction Embed, and angel investors like Gokul Rajaram
DataCrunch.io Raises €12 Million to Scale AI Infrastructure in Europe Helsinki-based DataCrunch.io has raised €12 million in a seed round led by byFounders, with participation from J12 Ventures and other prominent angels. Founded by CEO Ruben Bryon, the company offers AI-focused cloud infrastructure, providing cost-effective, on-demand access to compute clusters. The funding will help DataCrunch expand its team, scale services, and integrate Nvidia H200 servers, positioning it as Europe’s first AI hyperscaler. Customers include OpenAI, Sony, and Freepik.
Antiverse raises $10M to boost AI-driven antibody discovery
Wales-based biotech startup Antiverse has secured $10 million in a seed round to accelerate its AI-driven drug discovery platform, focusing on antibody design. Led by i&i Biotech Fund I, the investment aims to expand Antiverse's machine learning and lab teams. The company’s platform speeds up the antibody discovery process to six months, revolutionizing therapeutic development.
Photonics startup Oriole Networks raises $22m to Reduce Data Center Power Use UK-based photonic networking startup Oriole Networks has secured $22 million in funding, led by Plural, with participation from UCL Technology Fund and others. Founded by CEO James Regan in 2023, Oriole Networks uses photonics technology to link AI chips, boosting AI model training efficiency and cutting data center power consumption. The company builds on research from University College London and aims to reshape AI infrastructure.
Fable Raises $25M to Enhance AI-Powered Digital Accessibility Fable, a Toronto-based platform focused on digital accessibility, has secured $25M in Series B funding led by Five Elms Capital. The funds will support Fable’s mission to help global brands create inclusive products through accessibility testing and training. With clients like Microsoft and Walmart, Fable aims to address challenges in AI by building inclusive datasets and promoting accessible design. CEO Alwar Pillai emphasizes the importance of embracing accessibility to prevent digital exclusion in the AI-driven era.
Infinera Signs Preliminary Agreement for CHIPS Act Funding Infinera has signed a non-binding memorandum with the U.S. Department of Commerce for up to $93 million in CHIPS Act funding. Combined with investment tax credits, this could provide over $200 million in incentives to boost semiconductor production in California and Pennsylvania. The expansion aims to strengthen U.S. infrastructure, create 1,700 jobs, and support AI-driven data demands. CEO David Heard highlights the importance of this funding for securing the supply chain and enhancing U.S. economic and national security.
M&A 💰
Cyera acquires Trail Security for $162M to expand AI-powered data security Cyera, a $1.4 billion cybersecurity company, acquired Trail Security for $162 million. This acquisition integrates Trail’s advanced Data Loss Prevention (DLP) technology with Cyera’s Data Security Posture Management (DSPM) platform. The combination aims to disrupt the $21 billion DLP market, providing real-time AI-driven data protection. Cyera’s CEO, Yotam Segev, emphasized the importance of this move in addressing AI and cloud security challenges. Trail, founded by CEO Zohar Vittenberg, will bring its 40-person team to Cyera.
Ashling Partners acquires Reveal Group to Expand Multimodal Automation Solutions Ashling Partners has acquired Reveal Group to enhance its Multimodal Automation™ capabilities, combining Reveal's proprietary tools like RoboSuite® with Ashling's automation services. This acquisition boosts Ashling’s offerings across industries like healthcare and finance, while expanding operations into Canada. CEO Marshall Sied emphasized the value of integrating Reveal's technology and expertise to deliver comprehensive digital transformation solutions.
Enlitic Acquires Laitek, Revolutionizing Medical Imaging Data Management
Enlitic has acquired LAITEK, combining its AI-powered data standardization with LAITEK's expertise in medical imaging data migration. This AU$22.5M deal strengthens Enlitic’s market position, improving how healthcare organizations manage patient data. The acquisition is expected to enhance clinical workflows, improve data quality, and accelerate AI-powered tools. Both companies aim to address challenges in data interoperability and support existing customers while enhancing competitive positioning.
Dialpad Enters WFM Space by Acquiring Surfboard Dialpad has acquired Surfboard, a contact center workforce management (WFM) provider, enhancing its platform with AI-powered solutions for workforce engagement management (WEM). This acquisition strengthens Dialpad’s capabilities in contact center forecasting, scheduling, and intraday management. With Surfboard’s cloud-native WFM technology, Dialpad aims to deliver more advanced features to its customers, integrating them into its AI Contact Center Platform.
Interesting Reads 💡🤔
How to use AI to build collective intelligence in your organization AI can enhance collective intelligence by improving three key areas: collective memory, attention, and reasoning. By helping teams retrieve and update knowledge, align focus, and collaborate on goals, AI fosters better decision-making and innovation. Examples include Nvidia's AI-driven knowledge systems and HubSpot's AI tools for testing. However, AI also risks reducing cognitive diversity and amplifying inequalities if not applied carefully. Managers should use AI to augment human capabilities while avoiding over-reliance on automation.
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3 Ways AI is Transforming Cybersecurity AI is reshaping cybersecurity by enhancing threat detection, streamlining operations, and providing real-time threat intelligence. It enables proactive defenses through predictive analytics, automates repetitive security tasks, and analyzes large datasets for emerging threats. This allows security teams to respond faster and more effectively while minimizing human error. However, challenges like data quality and the potential use of AI by cybercriminals must be addressed as AI's role in cybersecurity continues to grow.
You don't need an AI strategy, you need a business strategy for AI Microsoft's Colette Stallbaumer explains that businesses should focus on integrating AI into their broader business strategies rather than developing separate AI strategies. AI tools are enhancing creativity, productivity, and employee satisfaction by automating mundane tasks, freeing time for crucial work. Power users are leading this shift, inspiring colleagues and boosting workplace innovation. While AI augments work, human skills like communication and creativity remain irreplaceable. Microsoft's goal is to democratize AI, ensuring it benefits society while enhancing business value.
AI tools boost productivity for professionals This article highlights how AI tools, such as Grammarly, Jasper, and ChatPDF, can significantly improve productivity by automating repetitive tasks and streamlining workflows. Tools like Jasper help with content creation, while Grammarly enhances writing accuracy. ChatPDF allows users to quickly summarize and extract key information from lengthy documents. Despite some limitations, these tools save time and allow workers to focus on higher-value tasks, showing how AI can complement rather than replace human expertise.
How to use AI in supply chain management AI can optimize supply chains through demand forecasting, inventory management, route optimization, warehouse automation, and fraud detection. By analyzing large datasets, AI helps predict demand, manage stock levels, and optimize delivery routes. Implementing AI in stages, using clean data, and partnering with AI experts ensures a smooth transition. Companies must define clear optimization goals and embrace change management to maximize AI's benefits, improving efficiency and reducing costs across logistics operations.
Tools 🧰🛠️
NotebookLM update: NotebookLM now allows users to customize Audio Overviews by guiding AI hosts on focus areas and expertise levels. You can also listen to the audio while continuing to work within the tool.
DeskSense: DeskSense is a multifunctional AI tool designed to enhance productivity. It offers solutions for tasks such as writing, coding, creating Excel formulas, and ideation for marketing content. Its Chrome extension provides real-time insights and responses, while users can save, regenerate, and share content through a personalized web app
LTX Studio is an AI-powered platform for visual storytelling, enabling users to turn scripts into detailed storyboards. It allows customization of style, setting, and characters while offering tools to refine shots, adjust camera motion, and insert or erase objects. The platform facilitates collaboration with live edits, commenting, and real-time feedback
Raycast: Raycast is a powerful productivity tool offering an extendable launcher to streamline workflows. It allows users to manage tasks, access favorite tools, and automate processes using extensions for apps like Slack, Notion, and Google Translate. With features like clipboard history, custom snippets, quick links, and an AI-powered assistant, Raycast enhances efficiency and reduces repetitive tasks
Concourse AI is designed for corporate finance teams, automating manual tasks like reporting, analysis, and forecasting. It allows users to generate custom reports from financial data using natural language instructions and provides real-time insights through interactive chat. Concourse integrates with your financial systems, improving productivity by surfacing key trends and streamlining data retrieval.
Any.do is a task management app that allows users to organize personal, family, and team tasks in one place. It offers features like shared lists, calendar integration, reminders, and customizable project boards with various views (Kanban, calendar, table). Users can break tasks into sub-tasks, assign tasks to others, and automate workflows. The platform integrates with over 6,000 apps, making it versatile for work and personal use. It's free with premium options for additional features.
AI Jobs 👩💻👨💻
Director, AI and ML (Spring Health) - Remote - The target base salary range for this position is $200,800 - $245,000 + stock options
Senior Sales Engineer - AI/ML (UiPath) - Texas, United States; Arizona, United States; Florida, United States; Georgia, United States; Illinois, United States; New Jersey, United States - or Remote
Director of Engineering, Machine Learning Platform (Reddit) - Remote, US - The base pay range for this position is: $260,800 - $365,100 USD
Staff Machine Learning Engineer - (Angi) - Denver, CO - Remote - The salary band for this position ranges from $200,000 - $280,000
NTV Highlights 🪩🎉
On October 28th, 29th, and 30th, we will also be in Milan for the 0100 Conference Mediterranean 2024. Zero One Hundred Conferences is organizing the second edition of its event for LPs and GPs from Southern Europe, the 0100 Conference Mediterranean 2024, which will feature the leading firms from the world of venture capital and private equity. The conference will take place on October 28th, 29th, and 30th
On October 29th and 30th, we will be attending the Waykup Forum in Murcia at the Víctor Villegas Conference Center.
Waykup Forum will hold its next edition on October 29th and 30th at the Víctor Villegas Conference Center. The event aims to be the nerve center connecting the most disruptive startups and emerging companies with private investors who are looking for original and groundbreaking business ideas in the Murcia region
Next Tier Ventures is organizing a special panel titled "Shaping a Robust Investment Ecosystem" at the Valencia Digital Summit 2024. The panel will feature Marta Cruz (NXTP Ventures), Andrea Martinelli (Diversity VC), Yolanda Tomás (WA4STEAM), Javier Villamizar (SoftBank), and Azahara García Espejo (Hearts Lab), moderated by Patricia Pastor (GP at Next Tier Ventures). Luis Tatay (Across Legal) will open the session with a presentation.
WeInvest is a community of women investors across Venture Capital, Private Equity, Family Offices, Accelerators, and Angel Investments, aiming to empower women to drive innovation while fostering growth, connection, and inspiration.
Register if you want to attend the session (limited spots available).