Meta’s AI Strategy: Open Source or Profit Play?

What we’ll cover today:

• 🤖 Clara Shih Joins Meta’s AI Team.

• ⚖️ Why AI Alone Won’t Solve Biased Underwriting.

• 🧠 Uni Of Toronto Experts Tackle Questions About AI Safety And Ethics.

• 🔗 The Event Roundup.

Clara Shih Joins Meta’s AI Team.

Meta just hired Clara Shih, former CEO of Salesforce AI, to lead its new "Business AI" group.

Shih brings an impressive track record, including:

• Founding Hearsay Systems, which bridged social media and CRM.

• Launching Salesforce’s Agentforce platform, an AI-driven customer service tool.

Her mission? To make Meta’s AI tools, like the Llama models, essential for businesses worldwide.

But Meta’s “open source” approach isn’t as open as it sounds:

• National security use requires explicit approval.

• Competitors with over 700M users need special licenses to access the tools.

• Meta retains the right to lower thresholds or add fees in future versions.

Shih calls this a "generational opportunity" to scale Meta’s AI business.

This strategy positions Meta as a major player in enterprise AI.

Here’s the whole article

1.  Why AI Alone Won’t Solve Biased Underwriting.

   

   Source: Jin Han (Linkedin)

The article is written by Jin Han. 

Jin Han is the chief legal officer for Pipe Technologies, a San Francisco, California-based fintech that provides a capital platform for small and medium-sized businesses. 

He discusses how traditional underwriting methods, which rely heavily on credit scores, often disadvantage women, minorities, and immigrant-owned businesses. 

It argues that while AI can enhance data analysis, it isn't a standalone solution to bias. Combining AI with thoughtful, human-driven policy adjustments is essential for fairer underwriting practices. Jin Han says.

Here’s The Article

2.  Uni Of Toronto Experts Tackle Questions About AI Safety And Ethics.

   

   photo by Duane Cole

University of Toronto experts recently convened to discuss AI safety and ethics, emphasizing the need for AI systems that promote human dignity and purpose. 

Professor Sheila McIlraith highlighted the importance of building AI that fosters human flourishing, stating, "We should be building AI systems that promote human flourishing – that allow human beings to live with dignity and purpose, and to be valued contributors to society."

Here’s The Article

1. Nvidia to report Q3 earnings as AI fever continues to power Wall Street.

The world’s largest publicly traded company by market cap, Nvidia’s stock price has continued to rocket higher throughout 2024, thanks to the explosive growth in AI across the tech landscape and beyond. 

Shares of Nvidia were up 192% year to date as of Wednesday, easily outpacing any of the company’s chipmaker rivals.

2. Indian news agency ANI sues OpenAI for unsanctioned content use in AI training.

Indian news agency ANI has sued OpenAI in a New Delhi court, accusing the ChatGPT creator of using its published content without permission to help train the artificial intelligence chatbot, something that OpenAI says it has stopped doing.

3. ‘AI Jesus’ For Confessions Stuns Churchgoers In This Country..

According to the media reports, St Peter’s Church in Lucerne has installed an ultra-wide monitor projecting an image of Jesus Christ, inside its confession booth. 

The AI hologram of Jesus takes confessions from worshippers, engages thoughtfully, and then offers spiritual insights, advice and counselling based on the questions posed.