Hey everyone!

Welcome back to a bunch of incredible AI updates that have happened in the past few days!

Here’s what we’ll learn about today:

• Google's new and improved AI model

• The music industry is about change completely 🎶

• AI Act, an attempt by the EU to control AI

• Wondertune - Save hours of reading time 📖

Reading time: 4 minutes 21 seconds

News Reel:

Highlight 1: Google deploys a tremendous AI update that will boost your productivity.

Google has announced the development of Palm 2, a large language model that leverages the latest advances in AI to improve language understanding and natural language processing.

The power of Palm 2 lies also in Google integrations with its current product for example Google Docs 📄, Gmail 📩 and its Pixel phones 📱.

Why Palm 2 is different:

• Palm 2 is built on a larger dataset than previous language models, allowing it to develop a more comprehensive understanding of language and context.

• The model is designed to be more efficient and scalable, enabling it to perform complex language tasks with greater speed and accuracy ⏩.

• Palm 2 is trained on a diverse range of languages and dialects 💬🗨️, making it more adaptable and versatile than previous models.

How Palm 2 is impactful:

• The development of Palm 2 represents a significant advancement in AI and natural language processing, paving the way for more inclusive future developments in the field🤝.

• Google has already begun to incorporate Palm 2 into its suite of products and services, including Google Search and Google Assistant, indicating the potential for widespread adoption of the technology.

If you want to watch the insane integration of Palm 2 into Google Docs, Sheets, etc watch these highlights below from the Google event. Or find an article from CNN here.

Highlight 2: Grimes allows anyone to use her voice for 50% of the profit

It's been a whirlwind few weeks for musician and artist Grimes. After making headlines for her involvement in AI-generated music, she's now taken a bold step to address the issue of profit sharing in the industry🎤.

She recently made headlines for offering 50% of her royalties on AI-generated music using her voice 💸. Her move has sparked debate around the role of AI in music production, the potential for "fake" music, the misuse of the artists’ voice and creativity and the devaluation of human creativity.

At the same time, however, this has opened another channel for artists to earn revenue by simply lending their style and voice and others will make their music for them, while earning 50% profits.

Here are some of the concerns and issues that her decision sparked:

• Grimes' decision to offer 50% of her royalties on AI-generated music using her voice highlights the need for greater equity and transparency in the music industry. This has been a longstanding issue in the industry, with artists often receiving a small fraction of the profits 💷 generated by their work.

• Concerns around copyright and intellectual property 🔐 in the music industry are increasingly important as AI continues to evolve. The lines between original work and derivative work may become increasingly blurred, with possible implications for copyright law and intellectual property rights.

• Lastly, as AI becomes more prevalent in the music industry, it's important to ask difficult questions about what it means for the future of creativity and artistic expression 🧠.

Any musicians among our readers that want to act on Grimes’ offer?

Read an article from The Verge here.

Highlight 3: The EU AI act to set the example for regulators

The European Union (EU) is set to introduce the AI Act, a new set of regulations aimed at governing the use and development of artificial intelligence within its member states 🌍.

The AI Act is designed to promote ethical and responsible AI practices while ensuring the protection of fundamental rights and values. This groundbreaking legislation represents a significant milestone in the regulation of AI and has the potential to shape the development of AI globally.

Here are some salient facts about the AI Act:

• The regulations will be enforced by a European Artificial Intelligence Board, and noncompliance may result in fines 🛑 of up to 6% of a company's global annual revenue.

• High-risk AI systems will be subject to mandatory conformity assessments, which will evaluate their compliance with ethical and technical requirements 👮.

• The AI Act prohibits certain AI practices, such as those that manipulate human behavior or facial recognition🗣️.

• Critics have argued that the restrictions on facial recognition could be too broad and that the technology has potential benefits, such as in law enforcement.

• While the AI Act has been met with some criticism, particularly around its potential impact on innovation and competitiveness, it represents a significant step towards creating a transparent and accountable framework for the development and use of AI✅.

This act is the first step in regulating AI and there is a lot of mixed feelings about it. What do you think?

Read more about it here.

A.I. Showcase: Wordtune Read

This super simple tool will save you hours!

It is both a Chrome extension as well as a website and it works extremely smoothly. Find the piece of content you want to summarize. Copy the link or the content on the Wordtune website and let the AI summarize it for you 🤯

In case of an interesting Youtube Video such as this talk from Bill Gates on AI, you can just click on the WordTune extension icon in your toolbar and the key points will appear! 📺

You can then send these highlights and the transcripted video to the online editor!

From here you can even export to Word or save to the clipboard!

This tool offers a freebie of 3 summaries per month and a 30% student discount with your .edu email!

Think about all the time you will save not having to read long and tedious articles or reports✍️! Get your free summaries here!

AI Art of the Week

Here’s what we think the Apple Headquarters would look like if they were actually the Google Headquarters.

See you soon!

-AI Bits