Microsoft Deals Blow to OpenAI, Hires Ousted Co-Founders Altman and Brockman for AI Push
Microsoft Deals Blow to OpenAI, Hires Ousted Co-Founders Altman and Brockman. Spend Management Firms Ramp Up AI Integrations to Boost Customer Experience and Efficiency
Microsoft Deals Blow to OpenAI, Hires Ousted Co-Founders Altman and Brockman for AI Push
- Microsoft deals blow to OpenAI, hires ousted co-founders Altman and Brockman
- Will lead new advanced AI research team under Nadella
- Comes after dramatic weekend where Altman fired as OpenAI CEO
- Employees and investors pushed to reinstate Altman at OpenAI
- Talks broke down, Twitch co-founder named interim OpenAI CEO
- Microsoft gains respected leaders, could attract more OpenAI talent
- Remains committed to OpenAI partnership under new leadership
- But signals intent to control more AI talent and tech itself
- Makes big play to lead next wave of AI amid ChatGPT breakthrough
Spend Management Firms Ramp Up AI Integrations to Boost Customer Experience and Efficiency
- Ramp, Brex, Navan at forefront of leveraging AI in fintech spend management
- Integrations aim to transform workflows, improve customer experience via AI
- Also helps drive revenue growth and efficiency amid economic uncertainty
- Brex contests slower Q3 growth narrative, citing 80%+ profit growth
- Massive valuations as firms compete for share against legacy players
- But overreliance on imperfect generative AI poses risks
- Ambitious integrations charge ahead across products and operations
EU's AI Act at Risk as France, Germany, Italy Resist Rules for ChatGPT-style Models
- Landmark EU AI Act faces roadblocks over regulating foundation models
- France, Germany, Italy say rules should target risky AI apps, not core tech
- Want self-regulation for now via codes of conduct and model cards
- European Parliament insists on foundation model regulation
- Compromise being mediated by Council presidency
- But major countries show little room for concessions in proposal
- Oppose two-tier framework for high/lower-risk foundation models
- Standoff jeopardizes finalizing trailblazing legislation
Microsoft Deals Blow to OpenAI, Hires Ousted Co-Founders Altman and Brockman for AI Push
Microsoft has hired former OpenAI CEO Sam Altman and co-founder Greg Brockman just days after they were abruptly pushed out of the AI research company they started.
Microsoft CEO Satya Nadella announced Altman and Brockman will lead a new advanced AI research team at Microsoft. This comes after a dramatic weekend where Altman was suddenly fired by OpenAI's board over concerns about his commitment to AI safety.
Employees and investors rallied behind Altman to try to get him reinstated at OpenAI. But those talks broke down Sunday night. Instead, OpenAI named Twitch co-founder Emmett Shear as interim CEO.
Shear claims the board removed Altman for reasons unrelated to AI safety disputes. But some employees focused on safety issues supported the leadership change.
With Altman and Brockman's hiring, Microsoft gains two respected AI leaders with dedicated follower bases. This could give Microsoft an edge over rivals in recruiting top OpenAI talent.
Microsoft has invested over $10 billion in OpenAI and relied on it for key AI capabilities. Nadella said Microsoft remains committed to the OpenAI partnership under Shear.
But bringing Altman and Brockman on board signals Microsoft wants to control more of the AI talent and technology. It comes amid a breakthrough year for AI due to tools like ChatGPT developed at OpenAI.
By hiring away its co-founders, Microsoft is making a big play to lead the next wave of artificial intelligence research and innovation. It's a major blow to OpenAI just as it hits its stride.
OpenAI in Turmoil as Employees and Investors Push for Ousted CEO Sam Altman's Return
There is growing momentum for Sam Altman to return as CEO of OpenAI after he was unexpectedly fired by the company's board on Friday. Top executives like chief strategy officer Jason Kwon have expressed optimism that Altman and co-founder Greg Brockman, who quit in protest, will be back soon.
Microsoft and major OpenAI investors are exploring options to remove the current board members who ousted Altman and reinstate him as CEO. There is widespread employee and investor support for Altman's return, with hundreds of staffers publicly backing him on social media. Key venture backers also want to see him resume leadership.
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Altman has been the public face of OpenAI, meeting world leaders to discuss AI safety and speaking just before his firing at a major tech summit. His abrupt removal shocked Silicon Valley given his prominence. Investors could withdraw funding and employees may quit to pressure the board.
The board cited a lack of candor from Altman about internal issues. But the exact reasons remain unclear. Tensions apparently grew over the pace of deploying powerful AI systems like ChatGPT. The board wanted to move slower over safety concerns.
OpenAI has an unusual governance structure as a non-profit parent over a for-profit company. So the board is beholden to a charter on benefiting humanity, not shareholders. This may have influenced the controversial decision to remove Altman as CEO without typical fiduciary duties.
There is urgency around resolving the situation this weekend before it harms OpenAI further. The goal is for Altman to be reinstated, with interim CEO Mira Murati potentially staying on as well. But Altman has strong investor backing no matter what path he takes next.
Spend Management Firms Ramp Up AI Integrations to Boost Customer Experience and Efficiency
AI and generative technology are becoming ubiquitous in fintech, with spend management companies like Ramp, Brex, and Navan at the forefront of leveraging AI to improve customer experience and operations.
Ramp just launched an integration with Microsoft's Copilot to enable natural language access to its smart AI assistant. Brex rolled out Brex Assistant to automate expense workflows and answer employee questions. Navan claims to be using OpenAI to write and fix code, boosting efficiency.
The ambition is to rethink workflows and transform the user experience via AI. But the tech also helps the bottom line. Brex saw slower 1% revenue growth in Q3 versus Q2, per reports, though still up annually. It contests the narrative, citing 80%+ gross profit growth year-to-date.
Ramp raised $300 million in August at a $5.8 billion valuation with over $300 million in revenue. Navan generated $300 million revenue in 2022 and is valued at $9.2 billion. So AI gives them an edge over incumbents like Concur and Expensify.
The AI push isn't just about customer experience. It's about competing for market share against each other and legacy players. Efficiency gains also improve the bottom line amid economic uncertainty.
But questions remain about overreliance on generative AI, especially as it becomes ubiquitous. The technology remains imperfect. Yet spend management firms are charging ahead with ambitious AI integrations across products and operations.
EU's AI Act at Risk as France, Germany, Italy Resist Rules for ChatGPT-style Models
The EU's landmark AI Act is facing roadblocks in final negotiations due to disagreements over regulating powerful foundation models like ChatGPT. France, Germany, and Italy are pushing back against proposed rules for these AI systems.
In a new position paper, the three countries argue comprehensive regulation of foundation models goes against the AI Act's risk-based approach meant to balance innovation and safety. They say rules should target high-risk AI applications, not the core technology.
Instead, they want self-regulation for now via mandatory codes of conduct and disclosure requirements like model cards that detail an AI system's capabilities and limitations. Oversight would fall to an AI governance body without initial sanctions.
The European Parliament insists foundation models need regulation, walking out of recent talks in protest. The Council presidency is trying to mediate a compromise.
But the Franco-German-Italian paper shows limited room for concessions. The countries oppose a two-tier framework proposed earlier for high-risk versus other foundation models. They say European standards could adapt to future AI advances.
At stake is if and how the trailblazing AI Act will regulate the most powerful AI systems proliferating today. The foundation model standoff jeopardizes finalizing the legislation. Upcoming meetings this week will be crucial to hashing out a solution.
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