Artificial Intelligence

Apple Restricts Its Employees To Use ChatGPT. Here’s Why!

Apple has prohibited the company’s use of the hugely popular artificial intelligence (AI) chatbot ChatGPT due to concerns that sensitive data could be exposed.

According to The Wall Street Journal, an internal document distributed to Apple staff prohibited using Microsoft-backed ChatGPT and comparable AI tools while the company was building its own AI technology. According to the paper, the iPhone developer is concerned about employees utilizing the programs and disclosing confidential company information. 

It also cited a limitation on GitHub’s AI tool Copilot, which is owned by Microsoft and automates the creation of software code. This internal prohibition follows the release of the ChatGPT app for iOS in the Apple app store on May 18. 

The new software is now accessible for iPhone and iPad users in the United States, but it plans to spread to other countries “in the coming weeks,” with an Android version to follow “soon.”

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Rowan Cheung, the founder of The Rundown newsletter, also took his perspective to Twitter about Apple going opposite from other companies that are adopting AI. 

Other Companies Restricting ChatGPT Usage: 

Along with Apple, other significant corporations have banned internal ChatGPT usage. On May 2, Samsung issued an internal memo prohibiting the usage of generative AI technologies such as ChatGPT. 

Also Read: Microsoft planning to invest $10 billion in ChatGPT owner

In Samsung’s case, the policy was implemented in response to an event where Samsung employees uploaded “sensitive code” to the site.

Employees who use such apps on personal devices were warned not to upload any company information or face “disciplinary action up to and including termination of employment.”

Along with Samsung and Apple, other firms also restricted their employees from using ChatGPT due to the same concerns. While JPMorgan put restrictions on the tool in February as normal restrictions on third-party software, the Bank of America also put ChatGPT to a list of unapproved apps that already include WhatsApp in the same month, per Financial News

In internal meetings, the bank also reminded its workers that new technology must be reviewed before being used in communications.

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According to Financial News, Citigroup and Goldman Sachs are also limiting the usage of ChatGPT, an AI-powered bot, as Wall Street financial firms tread carefully on this platform that has become an online phenomenon.

Most of these organizations that have prohibited employee use of AI chatbots are also developing their applications, similar to how Apple is developing its AI products.  

The NonProfit OpenAI Turned For-Profit Business. But Is It Even Legal?

Elon Musk, the billionaire, has questioned whether it is permissible for OpenAI, the company behind ChatGPT, to become a for-profit entity after investing around $50 million.

During Tesla’s annual shareholder meeting on May 16, Musk told CNBC that he “came up with the name” OpenAI, intending for the business to be an open-source alternative to DeepMind after Google purchased the company in 2014.

OpenAI was founded as a nonprofit organization to ensure it could pursue its stated mission before becoming a for-profit corporation in 2019.

Musk compared OpenAI’s transformation from nonprofit to for-profit to a “save the Amazon” organization to a “lumber company” that logged and sold rainforest trees, adding:

“Is that legal? That doesn’t seem legal. In general, if it is legal to start a company as a non-profit and then take the IP and transfer it to a for-profit that then makes tons of money […] shouldn’t that be the default?”

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OpenAI’s Transition from Non-Profit to For-Profit: 

According to OpenAI, it started as a nonprofit to be “unconstrained by a need to generate financial return” and to focus on advancing “digital intelligence in the way that is most likely to benefit humanity as a whole.”

However, in 2019, OpenAI announced the formation of a new firm called OpenAI LP, which it described as a “hybrid of a for-profit and nonprofit,” or “capped-profit” company that is nonetheless overseen by the nonprofit entity.

According to OpenAI, this allows it to attract more cash and scale faster, laying the framework for Microsoft’s multiyear, multibillion-dollar commitment and other investments, such as the $100 million it is seeking to create a new cryptocurrency dubbed Worldcoin.

According to the company, OpenAI may also release an open-source AI model for the first time since it went for-profit in 2019.

Given that this is a significant source of money for the corporation, it appears likely that the open-source AI model will not be as competitive as the premium version available to consumers for $20 per month.

AI Updates in China: China Pushes the Development of Its Own AI Amidst US Chip Restrictions

What Role Can Artificial Intelligence (AI) Play in Preventing the Next Financial Crises? 

Poor lending rules and stock market crashes caused most previous financial crises. However, with AI on its rise, organizations can now employ artificial intelligence (AI) in finance to improve lending standards and investments to avoid the next financial catastrophe. 

Artificial intelligence is a revolutionary technology that, once fully implemented in the finance sector, will change functionality and assist the business in operating at peak efficiency. This blog will look at how artificial intelligence can assist in foreseeing and preventing the next financial catastrophe. 

Also Read: Google Announces Major Generative AI Power Updates On It’s Search Engine

What Are Financial Crisis?

A financial crisis occurs when asset prices fall precipitously, firms and individuals cannot pay their debts, and financial institutions face liquidity shortages. Financial crises have existed since the first century. The earliest known financial crisis occurred in AD33, dubbed “the financial crisis of 33AD.” 

Since then, the world has seen several financial catastrophes. Some lasted only a few years, while others lasted over a decade. Most of these financial crises were caused by lax credit lending regulations and stock market crashes. 

But with AI evolving on a global scale, it is now capable of preventing these financial crises in the future. The advanced AI algorithms can help detect lending rule flaws and forecast market disasters. Thus, AI in finance may aid in preventing future financial crises.

Using AI to Prevent Financial Crises in Future: 

By improving risk management and decision-making processes, AI has the potential to play a key role in averting the next financial crisis. 

AI can investigate sophisticated linkages between multiple economic indicators, financial markets, and global events in real-time to identify critical hazards and provide early warnings of impending financial crises. This can help financial institutions and regulators take proactive measures to decrease risks and avert calamities.

AI may also be used to develop predictive models capable of predicting market patterns and identifying potential risks before they materialize. This can help financial institutions manage risk exposure and adapt their investment strategy. AI can also detect and prevent financial crimes, a major source of financial system instability.

How Does AI Predictive Model Works? 

Predictive models are statistical or machine learning algorithms that use historical data to forecast future occurrences or actions. Assume a bank wishes to identify the customers most likely to default on their debts. 

Also Read: China Pushes the Development of Its Own AI Amidst US Chip Restrictions

Using prior data on customer credit ratings, income levels, work status, and other relevant variables, the bank can train a machine learning system to detect trends related to defaults. The technique can then be used to build a prediction model that assigns a risk score to each client and predicts their likelihood of default.

Using this prediction model, the bank can target clients most likely to default and allocate resources appropriately. It can offer them alternative payment choices or work with them to fix the underlying issues generating their financial difficulties. Using a predictive model, the bank may manage its loan portfolio more effectively and reduce default losses.

AI’s Solutions for Business Recovery From Financial Crises: 

Certainly, it can. AI can help businesses recover in a variety of ways. For example, it can help businesses decrease costs and optimize operations, allowing them to weather the economic storm. 

AI can also assist firms in identifying new markets and commercial prospects, leading to new revenue streams. Furthermore, AI can improve risk management and prevent future financial instability by providing real-time monitoring and early warning systems.

Furthermore, artificial intelligence can contribute to future economic development by spurring innovation and creating new jobs. AI-powered robotics and automation systems can increase output and efficiency, which benefits the economy.

So if you’re a business stepping in or thriving in the financial industry, keeping up with AI advancements and solutions is the smart way to prevent and/or cope with unavoidable financial crises in the future. 

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Google Announces Major Generative AI Power Updates On It’s Search Engine

Did you hear? The new AI-powered Google search engine we’ve been hearing about under the code name Magi, is finally here!

Google revealed big generative AI-powered upgrades to its omnipresent search engine on Wednesday. This new generative search feature will be called “Search Generative Experience.” The new features, which Google is currently testing, allow you to search by simply inputting questions as phrases and receiving conversational responses.

As per the official announcement, this update will create new experiences for Google users. Users can now search for things like “best budget-friendly ebike to bring camping.” Search will then take the user to the generative AI website, which will give you a list of items to look for while looking for bikes to bring camping.

Users can find suggested follow-up questions to ask at the bottom of Google’s generative AI website. 

While these queries will have a similar page layout to Google’s search engine with the most frequently requested questions, the answers will be different. Instead of displaying a snippet of an answer beneath the inquiry, the AI generative page will drive the searcher to a dialogue panel that will link directly to bike merchant websites.

A New Era for AI and Google: 

Google considers generative AI to be the future of search. And, as the company’s most important product — and largest income source — it’s no surprise that the platform is being updated quickly.

During a live stage demonstration, Google’s Search Generative Experience returned responses to the question “Why do whales like to sing?” The program rapidly gave a list of possible reasons why whales sing, photographs of whales, and the ability to ask follow-up questions.

Microsoft (MSFT) introduced its own generative AI-powered search via its Bing engine in February, before Google disclosed this functionality. This immediately put Microsoft in the lead in the AI debate, with Google in the hot seat. 

Also Read: Microsoft Accepts the Challenge to Employ ChatGPT to Teach Robotics and Drones

Even still, Google remains the undisputed leader in search. According to StatCounter, the corporation holds 93% of the global market share, with Microsoft’s Bing accounting for the remaining 3%. It’s not about stealing the lead for Microsoft. Rather, it is about stealing small amounts of Google’s market share.

Google Photos, another Google product, is also poised to deliver Magic Editor for its users. This is a new feature that uses generative AI to rethink photographs and make complicated adjustments directly from your phone.

When it comes to Google’s competitor Microsoft’s Ai feature potential, the initiative claims that a 1% market share in search is worth $2 billion in revenue. In other words, even a modest slice of the pie is worthwhile.

Now it’s time to see if Google manages to stay at the top of other search engines with its Search Generative Experience or requires further upgrades and testing till it becomes users’ ideal AI-powered search engine. 

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China Pushes the Development of Its Own AI Amidst US Chip Restrictions

China can’t get the latest chip technology from the U.S. because of sanctions, but it is still working on making its own AI. 

The race to develop artificial intelligence (AI) continues as China accelerates the development of home-grown AI while avoiding the use of cutting-edge US technology due to current restrictions. 

The US sanctions put on China in October 2022 have denied Chinese companies access to the most modern processors on the market. This includes Nvidia’s A100 and H100 CPUs, the most popular AI development options. As a result, the Chinese market has access to Nvidia A800 and H800 CPUs, which can only handle small-scale AI models.

According to a Wall Street Journal report, Chinese corporations are researching ways to develop AI using weaker semiconductors and chip combinations to avoid dependency on a particular type of hardware. 

According to the study, academics and analysts believe that developing alternatives to such chips will be tough for Chinese technology companies, but certain attempts have shown “promise.”

China’s Plans for AI: 

OpenAI, based in the United States, created ChatGPT. However, even among domestic American corporations, competition to develop the finest and most powerful AI system is ongoing.

Microsoft recently unveiled several new AI-powered features for its current chatbot and web browser Edge that are said to compete with ChatGPT. DeepMind, Google’s AI branch, is also revamping to provide the most recent AI advancements.

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Conversely, China is continuing to create plans to maintain pace with US companies in the battle to develop Artificial Intelligence (AI). Alibaba, the Chinese e-commerce behemoth, stated in April that it would launch a ChatGPT competitor dubbed Tongyi Qianwen in the “near future.” The chatbot will be integrated into Alibaba’s products, including its office messenger DingTalk. 

Chinese authorities have announced that all generative AI services published nationwide would be subject to an obligatory evaluation before being publicly used. 

Is China Edging Ahead of the US In The Race of AI? 

Due to competing interests, artificial intelligence may be an exception, at least in China.

At a recent dean’s conference on social science insights into the emergent global power, Harvard Economics Professor David Yang spoke about China’s AI sector’s outsized success. He highlighted a recent US government list of companies generating the highest accurate facial recognition technology as evidence. The top five corporations were all Chinese.

According to Yang, “Autocratic governments would like to be able to predict citizens’ whereabouts, thoughts, and behaviors, and AI is fundamentally a technology for prediction.” Yang also shared that this generates a purpose alignment between AI technology and autocratic dictators.

Because AI primarily relies on data, and autocratic governments are notorious for amassing vast amounts, Yang believes this benefits local companies with Chinese government contracts, who can use official data to enhance commercial ventures. 

Having said that, China’s actions have the potential to shift the competitive dynamics in the AI market, lowering worldwide dependency on US chips and offering alternative AI development alternatives. 

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