Latest AI Innovations: VISA, OpenAI, SnapChat, and More

Table of Contents

1. Visa's $100 Million AI Investment Fund
2. IBM's AI-Powered Security Platform
3. Domino's Partnership with Microsoft
4. Anthropics' $2 Billion Funding Round
5. IBM's Upgrade for Threat Detection and Response Services
6. Expansion of IBM's Collaboration with Microsoft
7. Domino's Generative AI Assistant
8. Open AI's Plans for AI Chips
9. Tab: The AI Smart Wearable
10. LinkedIn's AI Features for Job Hunting and Marketing
11. Snap Corp's Generative AI Chatbot Under Regulatory Scrutiny

Visa's $100 Million AI Investment Fund

Visa recently announced its plan to invest $100 million in companies developing generative AI technologies and applications. The company's Global Corporate Investment division, Visa Ventures, aims to support companies that are applying generative AI to solve real problems in commerce, payments, and fintech. The investments will have a profound impact on commerce when combined with B2B payment processes and infrastructure.

IBM's AI-Powered Security Platform

IBM has upgraded its Threat Detection and Response Services (TDR) by harnessing the power of AI. The platform now automates 85% of security alerts by utilizing multiple layers of AI and contextual threat intelligence from IBM's Global Security Network. This AI-powered security model offers 24/7 monitoring, investigation, and automated cyber security across various technology environments, including hybrid clouds.

Domino's Partnership with Microsoft

Domino's Pizza has partnered with Microsoft to enhance customer experience and store operations through generative AI and cloud computing. The companies will leverage Microsoft's Azure to develop a generative AI assistant that aids store managers with tasks like inventory ordering, scheduling, and pizza preparation. The partnership also includes the creation of an innovation lab to accelerate the development of innovative store and ordering solutions.

Anthropics' $2 Billion Funding Round

Generative AI startup Anthropics is seeking to Raise an additional $2 billion in funding. Google is expected to be a key player in this investment round. Anthropics aims to utilize generative AI to revolutionize various industries by solving complex problems. The company previously raised $450 million in a funding round where Google, Zoom, and Salesforce Ventures participated.

IBM's Upgrade for Threat Detection and Response Services

IBM's Threat Detection and Response Services (TDR) now leverages AI to automate 85% of security alerts. The platform utilizes multiple layers of AI and contextual threat intelligence from IBM's Global Security Network. This AI-powered security model offers 24/7 monitoring, investigation, and automated cyber security across various technology environments, including hybrid clouds.

Expansion of IBM's Collaboration with Microsoft

IBM and Microsoft have expanded their collaboration to boost the deployment of generative AI solutions for enterprise clients. This collaboration aims to harness the power of generative AI in solving complex business challenges. IBM and Microsoft will work together to develop and deploy innovative solutions that leverage AI and cloud technologies.

Domino's Generative AI Assistant

Domino's Pizza has partnered with Microsoft to develop a generative AI assistant that aids store managers with various tasks. The AI assistant helps with inventory ordering, scheduling, and pizza preparation through advanced predictive tools. This partnership aims to enhance customer experience and store operations through the power of generative AI and cloud computing.

Open AI's Plans for AI Chips

Open AI, the company behind chat GPT and other AI models, plans to develop its own AI chips. The company is considering various strategies, including acquiring an AI chip manufacturer or designing chips internally. This decision comes as there is a global shortage of chips to train AI models. The demand for AI chips has grown significantly due to the generative AI boom.

Tab: The AI Smart Wearable

Schiffman, the young tech visionary behind the Coid dashboard and an Airbnb-like platform for Ukrainian refugees, has unveiled Tab, an AI smart wearable set to debut in the winter or spring of 2024. Tab aims to serve as a wearable personal AI companion, integrating data from users' daily lives. The AI assistant actively monitors users' conversations and provides tailored responses, creating the feeling of a late-night conversation with a friend.

LinkedIn's AI Features for Job Hunting and Marketing

LinkedIn, the Microsoft-owned social platform for business networking and recruitment, has introduced multiple AI features for its job hunting, marketing, and sales products. The platform has updated its recruiter talent sourcing platform with a built-in AI assistant, launched an AI-powered LinkedIn Learning Coach, and an AI Tool for marketing campaigns. These AI features act as search functions to help find potential job candidates, improve marketing strategies, and facilitate conversations with leads.

Snap Corp's Generative AI Chatbot Under Regulatory Scrutiny

Snap Corp, the parent company of Snapchat, is under regulatory scrutiny due to concerns about privacy risks associated with its generative AI chatbot, My AI. The UK's Information Commissioner's Office (ICO) has sent an enforcement Notice to Snap, raising concerns about the proper assessment of AI data privacy implications, especially for children. My AI, leveraging Open AI's chat GPT technology, is the first major messaging platform with a generative AI tool available in the UK.

Visa's $100 Million AI Investment Fund

Visa recently unveiled its plan to invest $100 million in companies developing generative AI technologies and applications. Through its Global Corporate Investment division, Visa Ventures, the company aims to support innovators who use generative AI to solve real problems in commerce, payments, and fintech. The investments made by Visa will have a profound impact on the future of commerce, especially when combined with B2B payment processes and infrastructure.

Generative AI is a cutting-edge technology that uses machine learning algorithms to generate new content, ideas, and solutions. By investing in companies that are applying generative AI in innovative ways, Visa hopes to drive transformation in various industries, solving complex challenges and creating new opportunities.

One example of generative AI in action is Anthropics, a startup seeking to raise an additional $2 billion in funding. With notable participants like Google, Anthropics aims to revolutionize industries by leveraging generative AI to tackle complex problems. Google's involvement in this funding round highlights the significance of generative AI and its potential to reshape industries.

In addition to investing in startups like Anthropics, Visa also aims to support companies that have been pioneers in applying AI in the payments industry. Visa claims to have been at the forefront of AI use in payments since 1993 and recognizes the immense potential that generative AI holds for solving real-world problems in commerce and fintech.

This investment also aligns with Visa's goal of fostering innovation and supporting companies that are at the forefront of technological advancements. By actively investing in generative AI technologies and applications, Visa seeks to drive positive change in the industry and stay ahead of the curve.

However, it's essential to consider the potential downsides and challenges associated with generative AI. Privacy concerns and ethical implications need to be carefully addressed to ensure that AI technologies are developed and deployed responsibly. Visa, along with other industry players, should prioritize data security and privacy as they invest in generative AI technologies.

Overall, Visa's $100 million AI investment fund demonstrates the company's commitment to driving innovation and leveraging the potential of generative AI in commerce, payments, and fintech. By supporting companies at the forefront of AI development, Visa aims to Shape the future of the industry and Create positive change in the world of technology-enabled commerce.