Five AI Developments You May Have Missed: UPI Payments, UK AI Summit Expert Hire, and More
As regulations on artificial intelligence (AI) usage are being implemented by various countries, advancements in the field are still progressing quickly. The Reserve Bank of India (RBI) recently suggested a novel approach to conducting UPI transactions, involving interactions with AI. In a separate development, the United Kingdom has recruited a technology specialist to contribute to the generative AI summit.
All this and more in our AI review today.
1. Now make UPI payments through AI chat
UPI payments through AI chat may soon become a reality as the Reserve Bank of India on Thursday proposed to introduce this service. According to a report by ANI, Conversational Payments will allow users to make UPI payments by conversing with an AI-powered system. Addressing the Monetary Policy Committee (MPC) meeting, RBI Governor Shaktikanta Das said, “The inclusion of chat payments in UPI will allow users to interact with AI systems to make payments.”
2. Britain hires tech expert to lead AI summit
Amid growing debate over the regulation of artificial intelligence (AI) and its pros and cons, Britain hired a technology expert and a diplomat who are expected to lead its summit on artificial intelligence on Thursday. According to a Reuters report, Matt Clifford, CEO of Entrepreneur First, and Jonathan Black, a former diplomat, will co-chair the UK’s AI Summit when it takes place in the fall. Clifford said: “You can think of this as a real summit – where there are some really crunching discussions – trying to agree a common understanding of the risks and a forum to work together to mitigate them.”
3. CIE IIIT Hyderabad Hosts Summit on Generative Artificial Intelligence
The Center for Innovation and Entrepreneurship (CIE) at the International Institute of Information Technology Hyderabad (IIIT) organized a cutting-edge technology summit in association with THub and Nasscom DTC on August 9, on the topic of generative artificial intelligence. At the event, 20 curated startups showcased their generative AI solutions, while 10 CTOs from Goldman Sachs, Wells Fargo and others also discussed the use of this technology in the enterprise technology sector, according to a release.
4. Lookout introduces a generative AI assistant for cybersecurity operations
Cloud security company Lookout announced on Thursday its generative artificial intelligence assistant for combating cyber threats. According to the release, Lookout SAIL focuses on security training, platform navigation and security telemetry analysis. “This next-generation AI assistant acts as a valuable partner, providing insights and assistance to users, ultimately streamlining tasks such as governance, policy creation, incident response and threat detection.” Lookout claims this technology can help companies harness the power of artificial intelligence to combat evolving cyber threats.
5. Chinese chip makers are investing in old chip manufacturing technology
As the artificial intelligence industry continues to rise, Chinese chipmakers have begun buying up traditional manufacturing technology amid tightening US export restrictions. According to a Bloomberg report, Tokyo Electron Ltd is getting heavy investment in China. Although the increase in demand for AI training chips has not yet proven profitable for chipmakers, it may start to affect their annual earnings starting next year, said Hiroshi Kawamoto, director of Tokyo Electron’s finance unit.
