World’s first major AI law enters into force — here’s what it means for U.S. tech giants

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1. World’s first major AI law enters into force — here’s what it means for U.S. tech giants

The European Union's AI Act, a landmark regulation, is set to enter into force, primarily targeting large US technology companies. The law aims to address the negative impacts of AI and sets out a comprehensive regulatory framework for AI across the EU.

It applies a risk-based approach, regulating AI applications based on the level of risk they pose to society. High-risk AI systems include autonomous vehicles, medical devices, loan decisioning systems, educational scoring, and remote biometric identification systems. The AI Act will bring more scrutiny on tech giants when it comes to AI development and deployment.

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2. The next generation of Meta Segment Anything Model for videos and images

Meta Segment Anything Model (SAM 2) is a unified model for real-time promptable object segmentation in images and videos, achieving state-of-the-art performance. SAM 2 can segment any object in any video or image, even for objects and visual domains it has not seen previously.

It has potential real-world applications, such as creating new video effects and unlocking creative applications. The model has made a tremendous impact across disciplines, inspiring AI-enabled experiences in Meta's family of apps and catalyzing diverse applications in science, medicine, and marine science.

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3. Reddit Acquires Memorable AI to Improve Ad Performance

Reddit has acquired Memorable AI, a machine learning system that analyzes human reactions to create more effective ads. The acquisition will enhance Reddit's ad targeting process, enhancing campaign engagement and driving higher performance.

Memorable AI's deep understanding of ad creative and media impact will enable advertisers to plan and execute more effective marketing programs.

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4. Shutterstock releases generative 3D, Getty Images upgrades service powered by Nvidia

Shutterstock and Getty Images have launched generative 3D services powered by Nvidia's Edify AI technology. Shutterstock's service allows creators to quickly prototype 3D assets and generate 360 HDRi backgrounds using text or image prompts.

Getty Images upgraded its generative AI by Getty Images service to create images twice as fast, improve output quality, and enable fine-tuning. The services are built with Nvidia's visual AI foundry using Nvidia Edify, a multimodal generative AI architecture. The AI models are optimized and packaged for maximum performance.

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5. Meta's reality check: Inside the $45 billion cash burn at Reality Labs

Meta's Reality Labs division has lost nearly $50 billion in just four years, primarily due to a chaotic culture and mismanagement.

Former employees, mostly executives, cited discord within the division and structural layoffs as the main reasons for the financial pitfalls. The company's shares have tanked due to increased AI investment.

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