All about EU's AI Act

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In today’s edition of decoding the power of AI, We dive into:

🤓All about EU’s AI Act!

🤖AI Tools You cannot miss

🥵Hot Takes

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🤓ALL ABOUT EU’S AI ACT!

Have you heard about the big shakeup in the tech world? Europe's been busy setting new standards for AI regulation with the AI Act. Last week, the European Parliament cast a vote that's got everybody talking. This act is being hailed as a major game-changer that's set to shape global AI regulations for years to come. But don't expect immediate changes – there are still a lot of details to hash out among the European Parliament, the Council of the European Union, and the EU's executive arm, the European Commission. It could be two years before we see this in action.

So what's in this act?

The idea is to manage AI based on risk. AI applications that are deemed too risky could be banned, while those with 'high risk' labels will face new limitations and will need to be more transparent.

• They're looking to ban emotion-recognition AI. This tech is used in places like schools, workplaces, and policing, claiming to read emotions to understand if a student's confused or if a driver's nodding off. But the problem is, it's been criticized for inaccuracy and bias.

• Real-time biometrics and predictive policing in public spaces are on the chopping block too. But not everyone agrees – some police groups and countries like France are planning to ramp up their use of facial recognition.

• Social scoring's out. You know, when agencies use data about people's social behaviour to profile and make generalizations. Sounds like something out of a dystopian novel, right? But it's also used in less obvious ways, like determining mortgage and insurance rates, hiring decisions, and advertising.

• They're also laying down rules for generative AI. They want to ban the use of copyrighted material in the training sets of large language models, like OpenAI's GPT-4, and require AI-generated content to be labelled as such.

• Lastly, recommendation algorithms on social media are going to face more scrutiny. If this passes, tech companies could be more liable for user-generated content impacts.

The AI Act is stirring up the tech world because it's addressing some serious concerns around AI. Margrethe Vestager, the executive vice president of the EU Commission, has pointed out that without proper regulation, we risk damaging trust in information, increasing vulnerability to social manipulation, and enabling mass surveillance. The stakes are high – if we can't trust what we see and hear, we risk undermining society itself​. So, it's going to be interesting to see how these new regulations unfold and shape the future of AI.

🤖AI TOOLS YOU CANNOT-MISS

🥵HOT TAKES

📲 OpenAI Mulls Over Launching AI Software App Store

OpenAI, the firm behind ChatGPT, is reportedly planning to launch a marketplace for developers to sell AI models based on its technology. The platform could help customised models, developed for specific use-cases like financial fraud detection, reach a wider audience. The proposed move, which could compete with app stores of OpenAI's partners, was hinted at by CEO Sam Altman. Two of its customers, Aquant and Khan Academy, might be interested in offering their AI models on this platform.

⚡ Snapchat Unveils Research on Quickened Generative AI Speeds

Snapchat's new model, SnapFusion, expedites AI image generation to under two seconds from text prompts, a drastic improvement from the current 30 seconds average. According to Snapchat, "Snap Research achieved this breakthrough by optimizing the network architecture and denoising process". This faster processing, tested on an iPhone Pro 14, can improve user experience, privacy, and lower developers' costs, signifying a major step in real-time AI applications.

📈 Generative AI Tools Dominate Among Marketing Professionals

Generative AI tools are being employed by 67% of professionals, according to a LinkedIn poll of 1,300 respondents. Although these tools can produce distorted results, they offer significant benefits by creating complex visual & text outputs. Despite their advantages, these tools don't replace human expertise, as outputs need evaluation for accuracy. Increase in AI adoption emphasizes the importance of understanding its benefits & limitations for optimal application. "You still need to know whether the outputs are correct, and/or how to refine them."

🌐 Opera's AI-Powered Browser, Fusing GPT and Web Info, Hits the Market

Opera's AI-powered browser, Opera One, is now available, using GPT and live web data for quick user query responses and support. The integrated AI, Aria, also generates text/code and offers context-based prompts. The updated browser design adapts to user needs, as "the relevant modules within Opera One will adjust automatically based on context", promising a fluid browsing experience. Features like tab islands for related tabs and a multithreaded compositor for speed enhance user experience.

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