AI News roundup: Google and EU to set up voluntary AI act, Eric Schmidt voices concerns on AI and more
Your daily TLDR of important AI stories you must know about.
Google CEO Sundar Pichai meets with EU to set up voluntary AI pactGoogle and the European Commission will collaborate on a voluntary AI pact that will serve as a guideline till the proposed European Artificial Intelligence Act is passed.- As reported by Reuters, Google and Alphabet CEO, Sundar Pichai, met with EU's industry chief Theirry Breton to discuss the pact.
- Breton said that Pichai was in agreement that they, "cannot afford to wait until AI regulation actually becomes applicable, and to work together with all AI developers to already develop an AI pact on a voluntary basis ahead of the legal deadline".
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- Stocks related to artificial intelligence surged in extended trade on Wednesday, adding almost $300 billion in market capitalization after chipmaker Nvidia Corp (NVDA.O) forecast strong revenue growth and said it was boosting production of its AI chips to meet surging demand.
- "With all the enthusiasm around AI and the fact Nvidia delivered a huge beat for first-quarter results and second-quarter estimates, this gives some actual evidence AI is for real," said Daniel Morgan, senior portfolio manager at Synovus Trust in Atlanta. Morgan said Synovus owns Nvidia shares.
Microsoft's Fabric is a new integrated platform for data analytics, management and machine learningThe software can also integrate Azure Data Factory, Azure Synapse Analytics and Power BI into a single unit, particularly to aid business professionals with relevant data.- Arun Ulagaratchagan, Microsoft corporate VP of Azure Data, described Microsoft Fabric as an “end-to-end, unified analytics platform that brings together all the data and analytics tools that organizations need” in a blog post.
- This platform is constructed upon OneLake, a cutting-edge data lake currently available for preview, enabling users to seamlessly retrieve data from both Amazon S3 and Google Cloud.
Former Google CEO Eric Schmidt says AI poses an 'existential risk'Schmidt, speaking at The Wall Street Journal's CEO Council Summit, said that AI was an "existential risk" and has the potential to get "many people harmed or killed".- The former Google executive said that AI could potentially help detect "zero-day exploits" or even discover "new forms of biology", and while this was, "fiction today, but its reasoning is likely to be true. And when that happens, we want to be ready to know how to make sure these things are not misused by evil people.”
- Speaking on regulation, Schmidt admitted he did not have a solution for effective regulation of AI systems but said that it was a, "broader question for society". He also said that it would be unlikely that a regulatory system would be set-up in the United States.
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