IBM Opens Generative AI Excellence Center, JPMorgan Creates AI for Personalized Investing and more

Stay Informed, Effortlessly: 5 AI Stories, 5-Minute Reads, 5 Days a Week.

1. IBM Consulting Unveils Generative AI Center of Excellence to Foster Business Transformation

IBM Consulting has launched a Center of Excellence (CoE) for generative AI, focused on augmenting AI capabilities and exploring generative AI's potential for enhancing business performance.

With over 21,000 proficient AI consultants, the CoE aims to improve customer experiences, transform core business procedures, and stimulate innovative business models. Leveraging IBM's robust AI expertise and cutting-edge technology, the CoE has already served more than 100 clients and demonstrated the versatility and significant potential of generative AI.

The CoE also emphasizes the ethical deployment of AI and respects the privacy of clients' data.

Read the full story here

2. JPMorgan Chase Develops AI Service, IndexGPT, for Personalized Investment Advice

JPMorgan Chase is developing a generative AI service, IndexGPT, to offer tailored investment advice to clients, as per a trademark application.

This AI product is part of JPMorgan's broader AI strategy, which includes delivering $1 billion in business value through AI in a single year. With increased use of AI and machine learning, more than 300 use cases in operation, and $220 million revenue impact last year, the firm aims to deliver $1.5 billion value by year-end.

Despite its successful AI utilization, JPMorgan has restricted certain AI tools due to compliance concerns.

Read the full story here

3. OpenAI Announces Global Contest to Develop Public-Involved AI Rule-Making Process

OpenAI has announced a global competition to design a democratic process allowing the public to influence the rules guiding AI models.

The contest invites individuals, teams, and organizations to propose concepts for a process that would help decide the norms AI systems should adhere to. Such a democratic process should involve a representative group discussing and deciding outcomes transparently. The application deadline is June 24, 2023, with results expected by October 20, 2023.

The winners will need to develop their concept with at least 500 participants and publish their findings.

Read the full story here

4. Microsoft Replaces Cortana with GPT-Powered Windows Copilot for Enhanced User Assistance

Microsoft is introducing Windows Copilot, a GPT-powered virtual assistant that will replace Cortana.

Windows Copilot will be capable of summarizing content, responding to queries, sending files, and adjusting Windows settings across various apps. Users will have access to Bing and ChatGPT plugins through Copilot, aiding in multitasking and collaborative projects. The AI assistant, distinct from GitHub's AI coding assistant also named Copilot, is slated for preview in Windows 11 in June.

Additionally, Microsoft announced the creation of an 'AI Hub' in the Microsoft Store and the Dev Home app for streamlined code development.

Read the full story here

5. NVIDIA Unveils Next-Gen AI Innovations: GH200, MGX, and Spectrum-X

NVIDIA's CEO, Jensen Huang, unveiled new products at Computex in Taipei, focusing on the company's commitment to generative AI.

Among the key announcements were the Grace Hopper-based 256-GPU GH200, the MGX platform for system builders, and Spectrum-X Ethernet networking. The DGX GH200, designed for large AI models, provides one exaflop of AI performance and 144 terabytes of shared memory, representing a significant upgrade from the previous DGX A100.

Huang also introduced the MGX, a reference architecture offering over 100 configurations of NVIDIA CPU, GPU, and DPU components, and Spectrum-X, delivering a lossless Ethernet with consistent performance.

Read the full story here