AI Revolution: Free Doctors in 10 Years and Tech Giants Invest in Congress!
Concerns have been raised over allegations that tech giants are providing funding for Congressional AI fellows, potentially leading to undue industry influence. In other news, AstraZeneca has signed a $247 million agreement with AI firm Absci to aid in the discovery of cancer drugs. MediaTek’s on-device AI technology aims to enhance personalized phone experiences. Additionally, EY’s AI system has successfully detected instances of fraud in UK audits. These are just a few highlights from our daily roundup.
1. Tech giants fund AI fellows in Congress
Tech giants including Google, Microsoft, IBM and Nvidia are funneling funds through the American Association for the Advancement of Science to support a “rapid response cohort” of Congressional AI fellows. These fellows, including Ph.D.s and former tech professionals, are influencing AI policy in Senate offices, including Sens. Offices of Schumer, Heinrich, Rounds, Wyden, Cassidy and Kelly. According to a Politico.com report, the move raises concerns about the industry’s potential influence over AI regulation.
2. AstraZeneca Inks signs $247m deal with AI firm Absc to find cancer drugs
AstraZeneca has signed a $247 million deal with Absci Corporation to use artificial intelligence technology in the discovery of cancer drugs. Absc’s AI performs large-scale protein analysis, helping AstraZeneca focus on oncology treatments. The collaboration is an example of large pharmaceutical companies using artificial intelligence to treat new diseases. Absc’s generative AI model, trained on proprietary protein interaction data, advances antibody design. The undisclosed cancer target is in line with AstraZeneca’s aim to promote targeted drugs over traditional chemotherapy, highlighting the role of artificial intelligence in enhancing the discovery of biologics, the Financial Times reported.
3. MediaTek’s in-device artificial intelligence promises a personalized phone experience
MediaTek aims to revolutionize phones with on-device artificial intelligence, promising personalized responses and faster suggestions. The generative AI technology highlighted at the company’s Executive Summit enables features like Vivo’s upcoming phone that can record, transcribe and summarize meetings on the device, ensuring confidentiality. While Qualcomm has included similar AI capabilities in high-end Android phone chips, both companies envision improved personalization with behavioral patterns and image processing, according to a CNET report.
4. EY AI detects fraud in UK audits, indicating opportunities to improve quality
EY, the Big Four accountancy firm, reports the success of artificial intelligence in detecting fraud in UK client audits. Using the AI system, the company detected suspicious activity in two of the first ten companies investigated, both of which were later confirmed as fraud. This early achievement highlights the potential of artificial intelligence to improve audit quality and streamline processes. However, there is still industry skepticism about the reliability of artificial intelligence in detecting various types of fraud and data protection concerns when confidential customer data is used to develop artificial intelligence, the Financial Times reports.
5. OpenAI investor predicts free doctors, lawyers and bipedal robots within ten years
OpenAI investor Vinod Khosla predicts that AI could provide free access for everyone to doctors, counselors and lawyers within ten years. In the podcast episode, the venture capitalist envisions human-like robots and expects a billion bipedal robots to be born in 25 years, creating an industry bigger than today’s automobile industry. Khosla believes in the significant, untapped potential of AI capabilities, suggesting that we haven’t seen its full potential, Business Insider reported.
