A Swiss foundation has launched a $500 million programme to support AI platforms in Africa, focusing on agriculture and finance. This aligns with the African Union's recent AI strategy to drive digital development on the continent.
Intuit is launching an AI assistant called Intuit Assist across its software, including QuickBooks. It aims to improve workflow efficiency, with claims of 45% faster invoice generation. The AI features target specific workflow bottlenecks rather than being broadly implemented.
Microsoft has integrated Copilot Pro AI features into Microsoft 365 subscriptions, replacing the previous $20 monthly add-on. This brings AI capabilities to core Office applications. The decision came after user feedback on standalone pricing. Microsoft 365 subscription prices have slightly increased to accommodate this change. The new pricing is available in select Asia-Pacific countries, with plans for global expansion.
Datadog, a cloud monitoring firm, has increased its annual revenue forecast to £2.66 billion and raised its adjusted profit forecast to £1.75-1.77 per share. This improved outlook is due to growing demand for its AI-backed cybersecurity products. The company also reported quarterly revenue and profit exceeding analyst expectations.
Ant International has created an AI model for hourly currency exchange rate predictions, aiming to reduce cross-border payment costs for businesses. This technology is part of Ant's Alipay+ network, which supports over 30 global e-wallets and banking apps, connecting 88 million+ merchants worldwide. Alipay+ has also expanded its partnership with PayPay in Japan.
Saudi Arabia plans to invest up to $100 billion in 'Project Transcendence', an AI initiative to develop a technological hub in the kingdom. The project will focus on data centres, startups, and infrastructure to support AI development, as well as talent recruitment and encouraging tech investment. This effort aims to compete with the UAE as a regional technology centre.
Lumen Technologies has secured over £3.5 billion in new AI-related business, focusing on data-centre connectivity. The company partnered with Google Cloud and aims to reduce debt with these deals. Despite a Q3 net loss, Lumen increased its full-year free cash flow forecast. The company's stock value has surged by over 450% in the past year due to its AI initiatives.
OpenAI is discussing transitioning from nonprofit to for-profit status with California officials. Meta faces a lawsuit over alleged AI revenue projection inflation and whistleblower retaliation. Two San Francisco AI companies raised funding: Delos Insurance Solutions (£7.2M for wildfire insurance) and Endeavor (£5.6M for manufacturing AI).
Palantir Technologies reported strong Q3 earnings, with its stock rising over 16%. The AI company raised its full-year revenue guidance, citing high demand for AI services.
A New York AI company has secured £4 million in Series A funding to develop loan origination software for mid-tier US banks and credit unions. This investment is part of a growing market projected to reach £12.2 billion by 2032.
An $11 billion debt market has emerged for AI companies buying Nvidia chips, raising concerns about Nvidia's AI market dominance. This funding targets 'neocloud' groups, likely new AI-focused cloud computing companies, reflecting Wall Street's enthusiasm for AI technologies.
ChatGPT can assist with holiday travel savings in four ways: 1) Estimating trip costs to identify areas for reduction. 2) Comparing accommodations and recommending affordable options. 3) Suggesting efficient packing to avoid baggage fees. 4) Optimising travel rewards and credit card points for potential savings.
Amazon Bedrock has introduced application inference profiles, allowing organisations to tag on-demand models and monitor costs. This feature enables custom tagging for foundation models, improving cost tracking across AI applications. It integrates with AWS services for better cost visualisation and management. The profiles can be created using model ARNs or by copying existing ones, and can be dynamically retrieved using Resource Groups API. This feature is now available in all AWS Regions where Amazon Bedrock is offered, enhancing cost allocation for generative AI initiatives.
Troveo, a new platform for licensing content to AI companies, has launched with £4.5 million in seed funding. It aims to help content owners license their material whilst retaining ownership rights. Troveo has secured deals with AI companies to pay over £5 million to content owners by year-end. The platform allows content owners to upload material and receive licensing deals and revenue from AI companies for machine learning model training.
