Tech leaders want balanced regulation

Welcome back to The Daily Update — The first AI Insight Forum took place in Washington yesterday, marking a significant milestone on the road to AI regulation.

🗞️ The Latest: Tech leaders call for ‘balanced’ AI regulation

🤖 AI Training: Brainstorm business names with ChatGPT

📸 Business Spotlight: Stability AI launches AI-powered music generator

🚨 AI Roundup: Four quick hits

🗞️ The Latest: Tech leaders call for ‘balanced’ AI regulation

Tech leaders called for regulation that balances innovation and safety at the first of many private “insight forums” hosted by the U.S. Senate.

What you need to know:

• Senate Majority Leader Chuck Schumer (D-NY) invited leaders in the AI space to a bipartisan AI Insight Forum. The meeting was closed to the public and media.

• Attendees included Meta CEO Mark Zuckerberg, OpenAI CEO Sam Altman, Microsoft CEO Satya Nadella, Google CEO Sundar Pichai and Elon Musk.

• Meta believes that powerful AI models will be drivers of opportunity in the future. Zuckerberg reiterated that striking the right balance between regulation and innovation is important so that the U.S. continues to lead the AI race.

• Musk told reporters that the government needs a federal AI oversight agency.

• Schumer previously called on peers to “pick up the pace” on AI regulation, but told reporters after the forum that the U.S. cannot rush legislation.

Why it matters: This forum is the first stop on a long road to enforceable AI regulation. Future discussions will hopefully lead to legislation that fosters rapid innovations in AI while ensuring that companies do not run new products unchecked.

🤖 AI Training: Brainstorm business names with ChatGPT

Need help naming your new company, product or service? ChatGPT can help by suggesting meaningful names to point you in the right direction.

The prompt:

“Brainstorm [number] business names for my [company/product/service] in the [industry]. The target audience is [audience]. Focus on names that are [key attributes].”

Ex. “Brainstorm five business names for my podcast in the tech sector. The target audience is AI enthusiasts and early adopters. Focus on names that are catchy and communicate a deep interest in AI advancements.”

If you aren’t satisfied with your initial shortlist, ask ChatGPT to generate new ideas or refine the ones you like.

📸 Business Spotlight: Stability AI launches AI-powered music generator

Under pressure from investors to translate over $100 million in capital into revenue-earning products, Stability AI released Stable Audio yesterday.

Key points:

• The company touts Stable Audio as the first tool capable of creating high-quality music for commercial use.

• The tool uses a technique called latent diffusion and was trained on a collection of roughly 800,000 songs.

• Stability AI says the platform’s underlying 1.2-billion-parameter model gives users greater control over the content and length of synthesized audio.

• Stable Audio’s training data doesn’t include music from major labels. This is likely a tactical decision that aims to avoid copyright complaints.

• The model is the successor to Dance Diffusion, Stability AI’s first attempt at generative audio.

My thoughts: I messed around with Stable Audio for a while and was pretty impressed by its outputs. It generates tracks that are surprisingly coherent compared to other generative audio platforms, and that quality remains consistent across a range of genres. This is an AI tool to look out for as debates surrounding AI-generated music linger.

🚨 AI Roundup: Four quick hits

• Access Granted: EU to let “responsible” AI startups train models on its supercomputers.

• Going Live: Adobe’s Firefly generative AI tools are now out of beta.

• Moving in Silence: Apple quietly reshapes iPhones and Watches with AI.

• Modern Marketplace: Amazon launches generative AI to help sellers write product descriptions.

Have questions or thoughts on today’s newsletter? Reply to this email and I’ll get back to you as soon as I can. Thanks for reading The Daily Update!

Jack

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