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OpenAI gets sued again
Spotlight: Robinhood acquires AI-powered investment platform
Jack Shields
July 02, 2024
Welcome back!
We’re back with some major developments across the AI sector. Get ready to dive into everything from copyright law to the stock market. Let’s go.
In today’s Daily Update:
🗞️ The Center for Investigative Reporting sues OpenAI and Microsoft
🤖 Runway launches Gen-3 Alpha video generator
📸 Robinhood acquires AI-powered investment platform
🚨 AI Roundup: Four quick hits
Read time: 2 minutes
TOP STORY
🗞️ The Center for Investigative Reporting sues OpenAI and Microsoft
DALL-E 3
The Center for Investigative Reporting (CIR) is suing Microsoft and OpenAI for copyright infringement.
What you should know:
CIR joins The New York Times and several other media outlets in a growing legal battle against the two companies.
The country’s oldest nonprofit newsroom says OpenAI and Microsoft used its content to train AI products without asking for permission or offering compensation.
CIR’s lawyers argue that the companies deprived the news organization of revenue and undermined its relationships with readers.
Microsoft and OpenAI are now facing copyright lawsuits from at least 10 different newspapers.
Why it matters: AI products like ChatGPT are threatening to put thousands of newsrooms out of business. This shift may be inevitable if consumers prefer the convenience of AI-generated content, but media organizations still deserve to be fairly compensated for their valuable content.
AI TOOL OF THE DAY
🤖 Runway launches Gen-3 Alpha video generator
Source: Runway
Runway just launched its most advanced AI video generator to date, Gen-3 Alpha. The new text-to-video model is available to everyone starting at $15 a month.
Gen-3 Alpha marks an early step toward General World Models that understand the visual world and dynamics like physics and motion. Runway has also started partnering with entertainment and media companies, so we’re starting to see practical applications for AI video generators in the real world.
Check out last month’s article about Gen-3 Alpha for more.
BUSINESS SPOTLIGHT
📸 Robinhood acquires AI-powered investment platform
DALL-E 3
Trading app Robinhood has acquired AI-powered investment platform Pluto to bring highly-customized investment strategies to its customers.
The details:
Pluto utilizes large language models (LLMs) with real-time access to global financial data to process and interpret the stock market.
Robinhood will integrate Pluto’s algorithms into its platform to help investors quickly identify emerging trends and investment opportunities.
AI-generated strategies will be highly personalized, considering each user’s risk tolerance, investment goals and historical behavior.
Pluto Founder and CEO Jacob Sansbury says his company will help Robinhood “democratize access to financial services.”
Why it matters: Robinhood’s acquisition of Pluto will bring intelligent, data-driven investing to millions of users. Personalized investing advice has historically been available mainly to wealthy investors. This move could level the playing field between private and professional investors to some extent.
MORE TRENDING NEWS
🚨 AI Roundup: Four quick hits
DALL-E 3
California lawmakers consider unique regulations for AI companies despite firm tech opposition.
Korean researchers find that stressed students are more likely to develop an excessive reliance on AI.
Apple reportedly plans to bring AI to its Vision Pro headsets.
YouTube updates policy to allow users to request the removal of AI-generated content.
MORE TRENDING NEWS