AI & Business Innovations Newsletter

Issue: August 2024

In This Issue

• JPMorgan Introduces AI Chatbot for Research Analysis

• Anthropic vs. Google: AI Hallucination Battle

• Amazon's New AI Chips

• Cost of AI Development for Tech Giants

• Mistral Large 2 vs. Big Tech

• Meta's Llama 3.1 Open Source AI

1. JPMorgan Introduces AI Chatbot for Research Analysis

In a move that underscores the growing influence of AI in the financial industry, JPMorgan Chase has unveiled a cutting-edge generative AI product. This new tool, LLM Suite, is being hailed as a game-changer and is capable of performing tasks traditionally assigned to research analysts.

2. Anthropic vs. Google: Who’s Winning Against AI Hallucinations?

29 July 2024 | Artificial Intelligence

Galileo, a leading developer of generative AI for enterprise applications, has released its latest Hallucination Index. The evaluation framework assessed 22 prominent Gen AI LLMs from major players including OpenAI.\

3. Amazon Strives to Outpace Nvidia with Cheaper, Faster AI Chips

29 July 2024 | Amazon

Amazon's chip lab is churning out a constant stream of innovation in Austin, Texas. A new server design was put through its paces by a group of devoted engineers on July 26th.

4. The Exponential Expenses of AI Development

29 July 2024 | AGI

Tech giants like Microsoft, Alphabet, and Meta are riding high on a wave of revenue from AI-driven cloud services, yet simultaneously drowning in the substantial costs of pushing AI's boundaries.

5. Mistral Large 2: The David to Big Tech’s Goliath(s)

25 July 2024 | Artificial Intelligence

Mistral AI’s latest model, Mistral Large 2 (ML2), allegedly competes with large models from industry leaders like OpenAI, Meta, and Anthropic, despite being a fraction of their sizes.

6. Meta Advances Open Source AI with ‘Frontier-Level’ Llama 3.1

24 July 2024 | Artificial Intelligence

Meta has unveiled Llama 3.1, marking a significant milestone in the company's commitment to open source AI. This release aims to challenge the dominance of closed AI systems and democratize access to advanced AI.

Recent Highlights

• AI-Powered WAFs vs Traditional Firewalls: Protecting your web applications (24 July 2024)

• Top 5 AI Tool Directories: Discover and showcase AI innovations (24 July 2024)

• Senators Probe OpenAI on Safety and Employment Practices (23 July 2024)

• AI in Sports Betting: Transforming the industry for better odds (22 July 2024)

• UK Hospitals Begin Live Trial of Prostate Cancer-Detecting AI (22 July 2024)

Upcoming Events

• AI in Business Conference 2024

  • Date: September 15, 2024

  • Location: New York, NY

  • Details: Join industry leaders to discuss the latest advancements and applications of AI in business.

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