AI at the Crossroads: Technology, Competition, and Society in 2025

UWCISA Blog · 01 Jan09 AI's Transformative Impact 2025 And Beyond

1. AI Agents at Work: How Companies Are Automating the Future

Businesses are leveraging autonomous AI agents to streamline operations and boost efficiency. Companies like Johnson & Johnson use AI to optimize drug development, while eBay automates marketing and seller support. At Deutsche Telekom, AI agents handle employee queries and administrative tasks. These tools promise to cut costs and improve productivity, though cybersecurity and bias concerns remain. By 2028, 15% of business decisions could be made autonomously, highlighting the transformative potential of these technologies.

(Source: The Wall Street Journal)

• Key Takeaway: AI agents are being applied across industries for diverse tasks like customer service and drug discovery.
• Key Takeaway: They improve productivity by automating complex workflows.
• Key Takeaway: Security and accuracy remain challenges as adoption grows.

---

2. China’s AI Leap: How Restrictions Are Failing to Slow Progress

Despite U.S. export controls on advanced semiconductors, China is closing the gap in AI development. Companies like DeepSeek and Tencent have unveiled AI models that rival U.S. benchmarks, fueled by innovation, talent, and resourceful use of less powerful hardware. As AI becomes a global power tool, the competition raises questions about the long-term efficacy of U.S. policies and their implications for global influence and security.

(Source: TIME)

• Key Takeaway: China's AI progress has defied export restrictions, demonstrating adaptability and innovation.
• Key Takeaway: The global AI race influences economic, technological, and military strategies.
• Key Takeaway: U.S. policies may require adjustments to maintain a competitive edge.

---

3. AI in 2025: Key Trends Shaping the Future

From generative virtual worlds to reasoning models and scientific discovery, AI's impact in 2025 is poised to be transformative. Nvidia’s Cosmos model hints at smarter robotics and wearables, while reasoning AIs from OpenAI and DeepMind promise better problem-solving. Meanwhile, AI tools continue to aid research in biology and materials science, highlighting AI’s growing role in innovation.

(Source: MIT Technology Review)

• Key Takeaway: AI is advancing gaming, robotics, and research through immersive virtual worlds.
• Key Takeaway: Reasoning models are reshaping problem-solving across disciplines.
• Key Takeaway: AI's role in scientific discovery and defense highlights its expanding influence.

---

4. The Rise of AI-Powered Smart Glasses: Nvidia's Vision for the Future

At CES 2025, Nvidia showcased its Cosmos AI model, designed to enhance devices' understanding of physical environments. Smart glasses like Meta’s Ray-Ban spectacles are emerging as promising platforms for AI assistants, capable of processing visual and audio inputs for complex tasks. Nvidia’s advancements could drive the evolution of AI-powered wearables, aligning with industry moves to create mixed-reality ecosystems.

(Source: CNET)

• Key Takeaway: Nvidia's AI model enables smarter, more interactive wearable technologies.
• Key Takeaway: Smart glasses are gaining traction as AI assistants, merging innovation with practicality.
• Key Takeaway: The industry is converging on mixed-reality platforms, paving the way for wearable AI growth.

---

5. AI and the Workforce: A Double-Edged Sword by 2030

AI is projected to transform the labor market, with 41% of employers planning to downsize as tasks become automated. Roles such as clerks and graphic designers face decline, but 77% of employers are committed to reskilling their workforce for collaboration with AI. While job losses are evident, generative AI also augments human skills, creating opportunities for growth in other areas.

(Source: CNN)

• Key Takeaway: Automation is reducing demand for traditional roles but increasing the need for AI-related skills.
• Key Takeaway: Companies are investing in reskilling workers for AI collaboration.
• Key Takeaway: AI presents both challenges and opportunities for the future workforce.

Author: Malik Datardina, CPA, CA, CISA. Malik works at Auvenir as a GRC Strategist who is working to transform the engagement experience for accounting firms and their clients. The opinions expressed here do not necessarily represent UWCISA, UW, Auvenir (or its affiliates), CPA Canada or anyone else. This post was written with the assistance of an AI language model. The model provided suggestions and completions to help me write, but the final content and opinions are my own.

Five Top Tech Takeaways: AI to Reshape 92% of IT Jobs, Canadian AI Startup Raises $19M, GenAI's Teaching Dilemma, and More!

CheatGPT: The Teacher's Dilemaa

AI's Impact on IT: 92% of Jobs to Evolve

Artificial intelligence is set to significantly transform the IT job market, with a staggering 92% of IT roles expected to undergo high or moderate changes. The AI-Enabled ICT Workforce Consortium's recent report highlights that mid- and entry-level positions will be most affected, as AI reshapes the relevance of various skills. The report underscores the need for critical skills such as AI literacy, data analytics, and rapid engineering. Major tech companies, including Cisco, IBM, Intel, and Microsoft, are committing to extensive training programs to reskill and upskill millions of workers globally, ensuring an inclusive workforce for the AI era.

• Widespread Impact on IT Jobs: The report predicts that 92% of IT jobs will experience significant changes due to AI, especially in mid- and entry-level positions.
• Shifting Skillsets: Skills such as AI ethics, responsible AI, and AI literacy are becoming increasingly important, while traditional skills like basic programming and content creation are losing relevance.
• Industry Training Initiatives: Companies like Cisco, IBM, and Microsoft are launching large-scale training programs aimed at reskilling millions of workers to thrive in the AI-driven job market.

Source: CIO

Universities Debate the Role of AI in Classrooms

As universities across the U.S. navigate the new academic year, many are incorporating AI policies into their syllabi, addressing how tools like OpenAI’s ChatGPT should be used in coursework. Some institutions, such as Cornell and Columbia, leave the decision to individual professors, while others, like Arizona State University, actively integrate AI into the curriculum. Despite the growing use of AI, challenges remain, particularly in detecting AI-generated content. Universities are exploring various approaches, from strict bans to encouraging creative AI use, all while grappling with the evolving role of AI in education.

• Diverse AI Policies: Universities like Cornell and Columbia allow professors to decide AI's role in coursework, while others, like Arizona State University, embrace AI tools for educational purposes.
• Challenges in Detection: There is currently no reliable tool to detect AI-generated content, complicating efforts to enforce AI policies in academic settings.
• AI in Education: Some universities are rethinking assessments and encouraging the creative use of AI, viewing it as a tool to enhance learning rather than just a potential source of academic dishonesty.

Source: WSJ

Canada's Viggle AI Raises $19M to Revolutionize Animation with AI

Viggle AI, a Canadian startup specializing in AI-driven character animation, has secured $19 million in Series A funding led by Andreessen Horowitz, with additional investment from Two Small Fish. The funding will help Viggle AI scale its operations, accelerate product development, and expand its team. The company’s proprietary JST-1 technology enables realistic character movements through simple text-to-video or image-to-video prompts, capturing the attention of animators and content creators worldwide. Viggle AI aims to revolutionize the animation industry by making high-quality, AI-generated animations accessible to both professionals and hobbyists.

• Major Funding Secured: Viggle AI raised $19 million in Series A funding, led by Andreessen Horowitz, to scale its AI-driven animation platform.
• Innovative Technology: The company’s JST-1 technology allows users to create lifelike animations with simple prompts, positioning Viggle AI as a leader in AI-powered content creation.
• Growing Community and Influence: Viggle AI has attracted a vibrant community of over four million users on Discord, with its tools being widely adopted by both professional animators and casual content creators.

Source: Financial Post

OpenAI Supports AI Content Labeling Bill in California

OpenAI is backing California's AB 3211, a bill that mandates tech companies to label AI-generated content to prevent the spread of misinformation, particularly in political contexts. This move is in contrast to the company's opposition to another AI-related bill, SB 1047, which requires safety testing for AI models. AB 3211 has gained traction, passing the state Assembly and advancing through the Senate. With many elections worldwide this year, transparency in AI-generated content is crucial to avoid confusion and misinformation, a concern highlighted by OpenAI as it supports this legislation.

• OpenAI Supports AI Content Labeling: OpenAI backs California’s AB 3211, a bill that requires AI-generated content to be clearly labeled, particularly to prevent misinformation in elections.
• Contrast with Other AI Legislation: While supporting AB 3211, OpenAI opposes SB 1047, another California bill focused on mandatory safety testing for AI models.
• Legislative Progress: AB 3211 has successfully passed the state Assembly and Senate appropriations committee and is set for a full Senate vote before potentially being signed by Governor Gavin Newsom.

Source: Yahoo Finance

Nvidia-Backed SMC Reduces AI Data Center Energy by 50%

Sustainable Metal Cloud (SMC), a data center company specializing in energy-efficient AI solutions, is gaining attention for its innovative HyperCubes, which use Nvidia processors submerged in a synthetic oil for cooling. This immersion cooling technology reduces energy consumption by up to 50% compared to traditional air cooling, offering a cheaper and more efficient alternative. As AI demands increase, SMC is expanding its sustainable data center solutions to new markets like Thailand and India. Backed by major partners like Nvidia and Deloitte, SMC is leading the charge toward greener, more efficient data centers.

• Innovative Cooling Technology: SMC's HyperCubes utilize Nvidia processors submerged in synthetic oil, reducing energy consumption by up to 50% compared to traditional air cooling.
• Expansion and Partnerships: SMC is expanding into new markets and has secured partnerships with Nvidia and Deloitte, positioning itself as a leader in sustainable AI data centers.
• Sustainable Data Centers: With growing AI demands, SMC’s energy-efficient solutions are gaining traction, supported by significant funding and interest from major enterprises and governments.

Source: CNBC

Author: Malik Datardina, CPA, CA, CISA. Malik works at Auvenir as a GRC Strategist who is working to transform the engagement experience for accounting firms and their clients. The opinions expressed here do not necessarily represent UWCISA, UW, Auvenir (or its affiliates), CPA Canada or anyone else. This post was written with the assistance of an AI language model. The model provided suggestions and completions to help me write, but the final content and opinions are my own.

Five Top Tech Takeaways: OpenAI Takes On Search, Canva's GenAI Acquisition, EU AI Act Becomes Law, and More

OpenAI Take Aim At Google Search

Open AI's SearchGPT: Taking Aim At Search

Summary:
OpenAI has announced the launch of SearchGPT, a prototype designed to enhance AI search capabilities by integrating real-time information from the web. This new tool aims to deliver fast and accurate answers by combining the strengths of AI models with up-to-date web data. The prototype is initially available to a select group of users and publishers, who will provide feedback to help improve the tool before it is potentially integrated into ChatGPT.

SearchGPT offers a conversational search experience that mimics human interaction, allowing users to ask follow-up questions and receive clear, context-rich responses. OpenAI has partnered with publishers to ensure that high-quality content is highlighted and properly attributed, supporting a symbiotic relationship between AI technology and journalism.

The development of SearchGPT reflects OpenAI’s commitment to evolving AI-powered search technology while protecting the interests of content creators. Future enhancements will focus on areas such as local information and commerce, with the ultimate goal of seamlessly incorporating these features into ChatGPT.

• Enhanced Search Experience: SearchGPT is designed to provide fast and accurate answers using real-time web data, offering users a more efficient way to find information.
• Publisher Partnerships: OpenAI is collaborating with publishers to ensure content is accurately attributed and creators are properly credited, aiming to foster a thriving ecosystem for content discovery.
• Future Integration: Feedback from users and publishers will guide improvements, with plans to integrate the best features of SearchGPT into ChatGPT for a more comprehensive search tool.

(Source: OpenAI)

Landmark EU AI Law Targets U.S. Tech Firms with New Rules

Summary:
The European Union's groundbreaking AI Act has officially come into effect, marking a significant regulatory shift for artificial intelligence technologies. This comprehensive legislation introduces a risk-based framework to oversee AI applications, targeting large U.S. tech companies and beyond. The Act mandates stringent compliance measures for high-risk AI applications, such as autonomous vehicles and biometric identification systems, while banning those deemed "unacceptable," like social scoring.

U.S. technology giants, including Microsoft, Google, and Meta, will face increased scrutiny under the AI Act due to their extensive operations and data use within the EU. The law requires AI models to undergo risk assessments, maintain high-quality datasets to minimize bias, and provide transparency in their operations.

The AI Act is seen as a template for global AI governance, with other nations encouraged to adopt similar regulations. However, while the law has been enacted, most of its provisions won't be enforced until 2026, allowing companies a transition period to comply with the new rules.

• Comprehensive Regulation: The EU AI Act introduces a harmonized regulatory framework for AI, applying a risk-based approach to manage various applications, particularly focusing on high-risk systems.
• Impact on U.S. Tech Giants: Major American technology firms will need to comply with strict EU regulations, affecting their operations and data practices in Europe.
• Global Influence and Transition Period: The AI Act is expected to set a precedent for international AI legislation, with enforcement beginning in 2026, allowing time for companies to adjust.

(Source: CNBC)

Nasdaq 100 Selloff: Is the AI Bubble About to Burst?

Summary:
The Nasdaq 100 Index experienced a significant $1 trillion selloff as investor confidence in AI technology waned. This downturn, the worst since October 2022, was spurred by middling earnings reports from major companies like Alphabet and Tesla. Concerns over the return on investment (ROI) in AI infrastructure have led to increased market volatility, with options activity in companies like Nvidia and Broadcom reflecting investor anxiety.

This market correction comes amid fears of an AI bubble, where valuations for tech stocks have reached historically high levels. The selloff saw substantial declines in stocks of AI and semiconductor firms, including Nvidia, Broadcom, and Tesla. Despite the downturn, some analysts believe the move is temporary and driven by profit-taking rather than a fundamental shift in the outlook for AI.

The AI sector's future remains uncertain, as investors grapple with the time it will take for substantial AI investments to yield financial returns. However, optimism persists among some market participants, who view tech stocks as a more attractive option for growth due to their potential for earnings growth and fundamental strength.

• Market Volatility in AI Stocks: The Nasdaq 100 faced a $1 trillion selloff due to investor concerns over the ROI on AI investments, with significant stock declines in Nvidia, Broadcom, and Tesla.
• Bubble Concerns: Fear of an AI bubble is growing as tech valuations reach historically high levels, prompting increased scrutiny and bearish options activity in key AI companies.
• Mixed Outlook: While some view the selloff as a temporary correction, others see it as a warning sign for the AI sector, with the future of AI-driven financial gains remaining uncertain.

(Source: Bloomberg)

Meta's Llama 3.1: Leading the Charge in Open-Source AI

Summary:
Meta has announced the release of Llama 3.1, the latest in its line of open-source AI models. The Llama 3.1 405B model is the first frontier-level open-source AI model, boasting unmatched flexibility and state-of-the-art capabilities that rival closed-source models. This new model expands context length to 128K, supports eight languages, and aims to empower developers to create custom applications.

Meta is committed to an open-source approach, allowing developers to fully customize and deploy Llama models without sharing data with Meta. The release of Llama 3.1 includes enhanced safety and security tools, such as Llama Guard 3 and Prompt Guard, to ensure responsible AI use. Meta has also partnered with over 25 companies, including AWS and NVIDIA, to provide services on the first day of launch.

Llama 3.1 represents a significant step forward in AI accessibility and innovation, with Meta emphasizing the benefits of open-source AI for developers and the broader community. The model's advanced capabilities are expected to drive new workflows, such as synthetic data generation and model distillation, fostering further exploration and growth in AI applications.

• Open-Source AI Leadership: Meta's Llama 3.1 405B is the first open-source model at this scale, offering developers unprecedented access to state-of-the-art AI capabilities and customization options.
• Enhanced Features and Partnerships: The model supports eight languages and 128K context length, with safety tools like Llama Guard 3, and is backed by partnerships with major tech companies to facilitate adoption.
• Empowering the Community: By making Llama 3.1 available for free, Meta aims to democratize AI, enabling developers worldwide to innovate without the constraints of closed-source models.

(Source: Meta)

Canva's Generative AI Leap: Acquiring Leonardo.ai

Summary:
Canva has announced its acquisition of Leonardo.ai, an Australian startup specializing in generative AI content and research. Although financial details of the deal have not been disclosed, Canva aims to leverage Leonardo.ai’s advanced AI tools to enhance its suite of visual design products. The acquisition will allow Canva to incorporate Leonardo.ai’s customizable text-to-image and text-to-video generators into its existing Magic Studio products, providing a robust alternative to Adobe's creative software offerings.

Leonardo.ai will continue to operate its web platform as a separate product, similar to Canva’s earlier acquisition of the Affinity creative software suite. The integration of Leonardo.ai's technology is expected to further position Canva as a formidable competitor to Adobe, particularly in the realm of generative AI.

The acquisition also presents an opportunity for Canva to navigate the challenges of using generative AI responsibly, especially in light of recent controversies faced by Adobe regarding data use. Canva plans to capitalize on Leonardo.ai’s capabilities while maintaining transparency about data usage to avoid similar scrutiny.

• Strategic Acquisition: Canva acquires Leonardo.ai to integrate advanced generative AI tools into its platform, aiming to strengthen its position against Adobe in the creative software market.
• Enhanced AI Offerings: The acquisition will incorporate Leonardo.ai’s text-to-image and text-to-video generators into Canva’s Magic Studio, expanding its suite of visual design tools.
• Focus on Responsible AI Use: Canva seeks to differentiate itself by maintaining transparency in AI model training data to avoid controversies similar to those faced by Adobe.

(Source: The Verge)

Author: Malik Datardina, CPA, CA, CISA. Malik works at Auvenir as a GRC Strategist who is working to transform the engagement experience for accounting firms and their clients. The opinions expressed here do not necessarily represent UWCISA, UW, Auvenir (or its affiliates), CPA Canada or anyone else. This post was written with the assistance of an AI language model. The model provided suggestions and completions to help me write, but the final content and opinions are my own.

Five Top Tech Takeaways: Nvidia's Plunge, Claude 3.5, Napster-esque Legal Battles and McDonald's Ends AI Experiment

AI Sell-off?

Nvidia's AI-Fueled Surge Halts with 13% Stock Plunge

Source: CNN

Nvidia has lost its position as the world's most valuable listed company after a significant stock decline. The company's market capitalization fell from $3.34 trillion to $2.91 trillion in the past week, dropping Nvidia to third place behind Microsoft and Apple. The stock tumble is attributed to investor profit-taking and a cooling excitement over Nvidia's role in the AI revolution. Despite this setback, Nvidia's stock had surged 139% over the past year, fueled by its AI-powered chips. The broader market remained relatively stable, with gains in sectors like energy and financials balancing out Nvidia's decline.

• Stock Decline: Nvidia's market cap dropped by $430 billion, leading to its fall to third place among the world's most valuable companies.
• Investor Sentiment: The decline reflects typical volatility and profit-taking after significant gains, with a broader market showing stability.
• AI Hype: Nvidia's role in AI has driven substantial stock gains, but recent drops indicate a possible cooling of investor enthusiasm.

Claude 3.5 Sonnet: Anthropic’s Latest AI Model Outshines Competitors

Source: The Verge

Anthropic has introduced its latest AI model, Claude 3.5 Sonnet, positioning it as a strong competitor to OpenAI's GPT-4o and Google's Gemini. The new model is already available to users and developers, outperforming its predecessor, Claude 3 Opus, in various benchmarks. Claude 3.5 Sonnet excels in writing and translating code, handling complex workflows, interpreting charts, and transcribing text from images. Additionally, the model introduces a new feature called Artifacts, allowing users to interact and edit AI-generated content within the app. Anthropic aims to transform Claude into a comprehensive tool for businesses to manage knowledge and documents securely.

• New AI Model: Claude 3.5 Sonnet is launched, outperforming its predecessor and major competitors in several benchmarks.
• Enhanced Features: The model excels in multiple tasks, including coding, workflow management, and text transcription, with better understanding of humor and human-like writing.
• Artifacts Feature: Introduces interactive editing of AI-generated content within the app, signaling a move towards comprehensive business solutions.

Apple and Meta: Rivals to Collaborators in AI Push

Source: The Wall Street Journal

Apple is in talks with Meta to integrate Meta’s generative AI model into Apple Intelligence, the new AI system for iPhones and other devices. This collaboration, if finalized, would allow Meta to leverage Apple’s vast distribution network. Apple has already partnered with OpenAI and is exploring similar deals with Google, Anthropic, and Perplexity. The potential partnership between Apple and Meta marks a significant shift given their historical rivalry. Apple aims to offer multiple AI options to users, enabling personalized choices for various tasks. This strategic move helps Apple diversify its AI offerings and reduces reliance on a single partner.

• Potential Partnership: Apple and Meta are discussing integrating Meta’s AI model into Apple Intelligence, leveraging Apple's distribution.
• Diversification Strategy: Apple seeks multiple AI partnerships, including with OpenAI, Google, Anthropic, and Perplexity, to offer diverse AI capabilities.
• Historic Rivalry: The collaboration represents a notable shift in the relationship between Apple and Meta, historically competitors in the tech space.

Legal Battle Erupts Between Music Labels and AI Startups

Source: Yahoo Finance

Major record companies, including Sony Music Entertainment, Universal Music Group, and Warner Records, have filed lawsuits against AI music startups Suno and Udio for copyright infringement. The lawsuits, filed in federal courts in Boston and New York, allege that these AI song-generators are exploiting the works of artists without permission. Suno AI's CEO, Mikey Shulman, denies the claims, stating their technology generates new outputs without memorizing existing content. This legal action highlights ongoing tensions in the music industry regarding the use of AI, with concerns about legality and protecting artists' rights.

• Lawsuits Filed: Major record labels are suing AI startups Suno and Udio for alleged copyright infringement.
• Technology Defense: Suno AI claims its technology generates new outputs and does not replicate existing content.
• Industry Tensions: The lawsuits reflect broader concerns in the music industry about AI's impact on artists' rights and the legality of AI-generated content.

Fast Food Giant McDonald's Stops AI Drive-Thru Experiment

Source: The Guardian

McDonald's is discontinuing its test of AI chatbots in drive-thrus across over 100 US locations, ending a trial that began in 2021 with IBM. Despite no public reason given for the shutdown, McDonald's confirmed that a voice-ordering solution remains a future goal. The fast food industry has shown a strong interest in AI, with chains like Wendy's and Taco Bell also implementing AI technologies to reduce labor costs. However, AI's reliability has been questioned, with viral videos showcasing order inaccuracies. Additionally, the industry faces criticism for relying on outsourced labor to support AI systems.

• AI Test Ended: McDonald's ends its AI chatbot drive-thru test, impacting over 100 locations in the US.
• Future AI Plans: McDonald's and other fast food chains continue to explore AI solutions despite mixed results and reliability issues.
• Industry Trend: Fast food chains are increasingly adopting AI to cut labor costs, despite challenges with accuracy and reliance on outsourced labor.

Author: Malik Datardina, CPA, CA, CISA. Malik works at Auvenir as a GRC Strategist who is working to transform the engagement experience for accounting firms and their clients. The opinions expressed here do not necessarily represent UWCISA, UW, Auvenir (or its affiliates), CPA Canada or anyone else. This post was written with the assistance of an AI language model. The model provided suggestions and completions to help me write, but the final content and opinions are my own.

Five Top Tech Takeaways: Apple Unveils AI at WWDC, OpenAI Pays VOX/Atlantic a Cut, Claude Comes to Canada and more!

Apple's AI

Apple Introduces 'Apple Intelligence' with Advanced AI Features

At WWDC 2024, Apple introduced "Apple Intelligence," a suite of AI features for iPhone, Mac, and other devices, to be released in the fall. Highlights include a more conversational Siri, AI-generated "Genmoji," and integration with OpenAI's GPT-4o for advanced queries. These features, designed to enhance user interaction and productivity, will operate primarily on-device for privacy, utilizing Apple's Private Cloud when necessary. Siri will now support more natural speech and typed commands, perform actions across apps, and assist with tasks like email composition and photo editing.

To see a 2-minute summary, check out CNETs time-saving montage (start at 9:27 for the AI-related announcements):

Key Takeaways:

1. Apple unveiled "Apple Intelligence," featuring enhanced AI capabilities for iPhone, Mac, and more.
2. Siri will become more conversational and capable of handling advanced tasks using OpenAI’s GPT-4o.
3. Privacy remains a priority, with AI processing on-device and through Apple's Private Cloud.

(Source: The Verge)

Claude AI Assistant Launches in Canada

Claude, Anthropic's advanced AI assistant, is now available in Canada through various platforms including Claude.ai, a free iOS app, and an API for developers. The service also offers a Team plan for collaborative use. Users can subscribe to Claude Pro for CA$28 per month to access all models and receive increased usage benefits. The Team plan, at CA$42 per user per month, requires a minimum of five users. This expansion aligns with Canada's commitment to responsible AI development and provides new opportunities for users to integrate advanced AI into their workflows.

Key Takeaways:

• Claude, an AI assistant by Anthropic, is now accessible in Canada via web, iOS app, and API.
• Claude Pro subscription offers enhanced features and usage for CA$28 per month.
• The Team plan provides a collaborative workspace for CA$42 per user per month, requiring a minimum of five users.

(Source: Anthropic)

US Regulators Probe Nvidia, Microsoft, and OpenAI for Antitrust Violations

The U.S. Department of Justice (DOJ) and Federal Trade Commission (FTC) are launching investigations into Nvidia, OpenAI, and Microsoft. The DOJ will focus on potential antitrust violations by Nvidia, while the FTC will probe Microsoft and OpenAI's actions. Specifically, the FTC is examining whether Microsoft structured its deal with Inflection AI to evade regulatory scrutiny. Microsoft's spokesperson asserts the company’s compliance with legal obligations. These probes highlight regulatory efforts to scrutinize AI ventures more rigorously and prevent potential antitrust violations.

Key Takeaways:

• The DOJ and FTC are investigating Nvidia, OpenAI, and Microsoft for potential antitrust violations.
• The FTC is specifically probing whether Microsoft’s deal with Inflection AI was structured to avoid regulatory oversight.
• Microsoft maintains that its agreements and transactions comply with legal requirements.

(Source: Yahoo Finance)

OpenAI Continues Media Expansion with New Licensing Agreements

OpenAI has secured licensing agreements with The Atlantic and Vox Media, allowing their content to train AI models and be shared within ChatGPT. This move follows similar deals with News Corp, Axel Springer, DotDash Meredith, the Financial Times, and The Associated Press, aimed at acquiring legal content for AI training and avoiding copyright issues. Terms for The Atlantic and Vox Media were not disclosed, but such agreements typically involve content attribution and financial compensation. Vox Media will use OpenAI's technology to enhance its commerce and advertising platforms, while The Atlantic plans to develop AI tools for journalism.

Key Takeaways:

• OpenAI signed content licensing agreements with The Atlantic and Vox Media for AI model training and sharing within ChatGPT.
• These deals aim to secure legal training data and prevent copyright lawsuits, following similar agreements with other major media companies.
• Vox Media and The Atlantic will use OpenAI's technology to enhance their digital products and develop AI tools for better journalism.

(Source: The Verge)

AI Meets Curation: Perplexity Pages Blend Automation and Human Input

Perplexity AI has launched "Perplexity Pages," a feature that transforms search queries into visually appealing, shareable web pages. Users can create detailed articles by entering prompts and selecting an audience type to tailor the content. The tool allows for customization, including rewriting, reformatting, and adding sections. These pages, which can include relevant media, are searchable on Google and sharable via links. Perplexity Pages aims to blend AI-driven content generation with human curation, offering a new way to produce and share information-rich web pages.

Key Takeaways:

• Perplexity AI's new feature converts search queries into detailed, shareable web pages.
• Users can customize the generated content and include media, making it searchable and shareable. 
• The feature blends AI content generation with human curation, emphasizing user input in organizing and presenting information.

(Source: TechCrunch)

Author: Malik Datardina, CPA, CA, CISA. Malik works at Auvenir as a GRC Strategist who is working to transform the engagement experience for accounting firms and their clients. The opinions expressed here do not necessarily represent UWCISA, UW, Auvenir (or its affiliates), CPA Canada or anyone else. This post was written with the assistance of an AI language model. The model provided suggestions and completions to help me write, but the final content and opinions are my own.

Five Top Tech Takeaways: SBF Gets 25, Getting "Glassdoored", Microsoft AI Expansion, $9 for AI Nurses, and Florida's Teen Social Media Ban

FTX Fallout: Sam Bankman-Fried handed a 25-Year Sentence

Sam Bankman-Fried, co-founder and former CEO of FTX, has been sentenced to 25 years in prison by the Southern District of New York Judge Lewis Kaplan for fraud and money laundering charges related to the crypto exchange's operations. This sentence comes after Bankman-Fried was found guilty on all seven counts, with a possible maximum of 110 years, during his trial. In addition to prison time, he is ordered to pay an $11 billion forfeiture to the U.S. government. The sentencing reflects the severity of the crimes, including the misuse of over $8 billion in customer funds. Bankman-Fried's case has been highlighted as a significant indicator for future legal actions within the crypto industry, emphasizing the need for deterrence against similar fraudulent activities. The outcome also underscores the absence of parole in the federal system, though good behavior could lead to a sentence reduction under the First Step Act.

(Source: TechCrunch)

SBF25: Special Offer From UWCISA'S Coffee Break PD

With Sam Bankman-Fried (SBF) now facing 25 years, understanding the FTX debacle is crucial. Learn more about what went wrong with our Crypto Double Bill course. In recognition of this significant moment, we're offering a special $25 discount.

The course consists of two standalone chapters:

🔹 #1 Bitcoin Basics
Dive into the world of Bitcoin with an insightful backgrounder, perfect for beginners and those that want to brush up on their crypto knowledge.

🔹#2 FTX Exchange Fraud
Explore the intriguing rise and fall of SBF and FTX, featuring the acclaimed work of Cold Fusion, a popular YouTuber renowned for his insightful tech content, thorough exploration of major frauds, and engaging documentary style.

🔥 Exclusive Limited Time Offer: Use coupon code SBF25 by April 25th to unlock your $25 discount and dive into the course for only $24! 🔥

Seize this opportunity to reflect on the FTX lessons and enrich your understanding of cryptocurrency’s dynamic landscape. 

Enroll now at Coffee Break PD!

For more on SBF's sentencing, check Coffeezilla's take:

From Anonymous Reviews to Public Profiles: Users get "Glassdoored"

Glassdoor, traditionally a platform for anonymous employer reviews, has begun adding users' real names to profiles without their consent, utilizing public sources for identification. This change follows Glassdoor's acquisition of the professional networking app Fishbowl, which requires identity verification. Despite assurances of anonymity, this shift has raised data privacy concerns, with users like Monica discovering that opting out is not straightforward and could lead to potential retaliation from employers. The company's insistence on non-anonymity for profile names contradicts its previous policies and has led to user pushback and account deletions. Glassdoor defends its practices, emphasizing user options for anonymity while integrating Fishbowl features, but the blend of Glassdoor and Fishbowl data introduces legal and security risks for users, sparking debate over the platform's commitment to user privacy and anonymity.

Key Takeaways:

• Glassdoor has controversially started adding users' real names to their profiles without consent, citing identity verification needs following its acquisition of Fishbowl.
• Users face difficulties in opting out, risking exposure and retaliation from employers, contrary to Glassdoor's previous commitment to anonymity and privacy.
• Always treat information posted online as public. If you want it to stay private, keep it to yourself.

(Source: Ars Technica)

Microsoft's AI Strategy Intensifies with DeepMind and Inflection Talent

Microsoft has announced the appointment of Mustafa Suleyman, co-founder of the AI startup DeepMind acquired by Google in 2014, as the executive vice president and CEO of Microsoft AI, where he will spearhead the company's Copilot AI initiatives. Suleyman, who departed from Google's parent company Alphabet in 2022 to co-found Inflection AI, brings a wealth of experience in AI innovation and leadership. Joining him at Microsoft is Karén Simonyan, Inflection's co-founder and chief scientist, now appointed as chief scientist for Microsoft AI, along with several employees from the startup. This strategic move aims to bolster Microsoft's AI capabilities, particularly in enhancing its Copilot feature across various products like Bing and Windows. Satya Nadella, Microsoft's CEO, praised Suleyman's visionary leadership and pioneering spirit in a memo, highlighting the expected contributions to Microsoft's AI endeavors. Meanwhile, Demis Hassabis, Suleyman's fellow DeepMind co-founder, continues his role at Google DeepMind amidst Google's challenges with AI developments, including the recent controversies around its image-generation feature.

Key Takeaways:

• Mustafa Suleyman is appointed as CEO of Microsoft AI, bringing his AI expertise from DeepMind and Inflection AI to lead Copilot initiatives.Microsoft enhances its AI leadership by also recruiting Karén Simonyan and several Inflection AI employees, aiming to fortify its Copilot feature and other AI products.
• Structuring this as an "acqui-hire" enables Microsoft to reduce the risk of antitrust scrutiny and other complexities that could have come with purchasing Suleyman's company.
• Amidst Microsoft's strategic AI advancements, Google faces setbacks with its AI technologies, striving to overcome recent challenges in image-generation and chatbot functionalities.

(Source: CNBC) 

Empathy at $9/Hour: Nvidia's AI Agents Redefine Patient Interactions

Nvidia has partnered with Hippocratic AI to introduce AI-powered "empathetic health care agents" that surpass human nurses in efficiency and cost-effectiveness on video calls. These agents, leveraging Nvidia's technology and trained on Hippocratic AI's health care-focused LLM, aim to establish stronger human connections with patients through enhanced conversational reactions. Tested by over 1,000 nurses and 100 licensed physicians in the U.S., these bots have demonstrated superior performance across various metrics compared to both human nurses and other AI models. The collaboration highlights the potential of AI in addressing the health care worker shortage in the U.S., offering a cost-efficient alternative at $9 per hour, significantly lower than the median hourly rate of $39.05 for nurses. This development underscores the evolving role of AI in enhancing health care delivery and patient outcomes.

Key Takeaways:

• Nvidia and Hippocratic AI's collaboration introduces AI health care agents outperforming human nurses in effectiveness and empathy on video calls.
• The AI agents, costing $9 per hour, present a cost-effective solution to the health care worker shortage, contrasting with the higher hourly pay for nurses.
• Tested by health care professionals, these AI agents have outshined both their human and AI counterparts in various health care-related tasks, promising an innovative shift in patient care.
  

(Source: Fox Business)

Author: Malik Datardina, CPA, CA, CISA. Malik works at Auvenir as a GRC Strategist who is working to transform the engagement experience for accounting firms and their clients. The opinions expressed here do not necessarily represent UWCISA, UW, Auvenir (or its affiliates), CPA Canada or anyone else. This post was written with the assistance of an AI language model. The model provided suggestions and completions to help me write, but the final content and opinions are my own.

Five Top Tech Takeaways: Claude3 is Live in Canada, Elon Sues OpenAI, OpenAI Responds, NVIDIA hits $2 Trillion & IEEE on Prompt Engineering

The End of Prompt Engineering? How AI Is Outsmarting Humans in Optimization

A Self-Prompting Robot

Prompt engineering, once a burgeoning field following ChatGPT's launch, is undergoing a transformative shift. New research suggests the task of optimizing prompts for large language models (LLMs) and AI art or video generators might be better performed by the models themselves, rather than human engineers. This development is spurred by findings from Rick Battle and Teja Gollapudi at VMware, who, after testing various prompt engineering strategies, concluded that there's a notable inconsistency in their effectiveness across different models and datasets. Instead, autotuning prompts using the model to generate optimal prompts based on specified success metrics has shown to significantly outperform manual optimization efforts, often generating surprisingly effective yet unconventional prompts. Similar advancements are seen in image generation, where Intel Labs' Vasudev Lal's team developed NeuroPrompts, automating the enhancement of prompts for image models to produce more aesthetically pleasing outputs. Despite these technological advancements suggesting a diminished role for human-led prompt engineering, the need for human oversight in deploying AI in industry contexts—emphasized by emerging roles such as Large Language Model Operations (LLMOps)—remains crucial. This signifies not the end, but the evolution of prompt engineering, with its practices likely integrating into broader AI model management and deployment roles.

Key Takeaways:

• Research indicates that the practice of manually optimizing prompts for LLMs may be obsolete, with models capable of generating more effective prompts autonomously.
• Innovations like autotuned prompts and NeuroPrompts demonstrate that AI can surpass human capabilities in optimizing inputs for both language and image generation tasks.
• Despite the potential decline of traditional prompt engineering, the demand for human expertise in integrating and managing AI technologies in commercial applications continues, likely evolving into roles like LLMOps.

(Source: IEEE Spectrum)

Elon Musk Sues OpenAI: Alleges Company Abandoned its Mission

Elon Musk has filed a lawsuit against OpenAI and its CEO, Sam Altman, in California Superior Court, alleging they diverged from the organization's original non-profit, open-source mission to develop artificial intelligence for humanity's benefit, not for profit. Musk, a co-founder of OpenAI, accuses the company of breaching their founding agreement by prioritizing financial gains, particularly through its partnership with Microsoft and the release of GPT-4. He seeks a court ruling to make OpenAI's research public and restrict its use for Microsoft or individual profit, particularly concerning technologies GPT-4 and the newly mentioned Q*. OpenAI executives have dismissed Musk's claims, emphasizing resilience against such attacks. This legal action underscores Musk's ongoing concerns with AI development's direction and OpenAI's partnership dynamics, especially as he ventures into AI with his startup, xAI, aiming to create a "maximum truth-seeking AI". 

Key Takeaways:

• Elon Musk sues OpenAI for deviating from its foundational mission, emphasizing the conflict over the commercialization of AI technologies.
• Musk demands OpenAI's AI advancements, including GPT-4 and Q*, be made publicly accessible and not used for Microsoft's or anyone's financial benefit.
• The lawsuit highlights Musk's broader AI concerns and efforts to influence the field through his own AI startup, xAI, amidst regulatory scrutiny of OpenAI's actions.

(Source: Reuters)

OpenAI Responds to Elon's Lawsuit: 'Here's Our Side of the Story'

Key Quote: "We're sad that it's come to this with someone whom we’ve deeply admired—someone who inspired us to aim higher, then told us we would fail, started a competitor, and then sued us when we started making meaningful progress towards OpenAI’s mission without him."

OpenAI discusses its mission to ensure that artificial general intelligence (AGI) benefits all of humanity, addressing its funding journey, relationship with Elon Musk, and its commitment to creating beneficial AGI. Initially envisioning a substantial need for resources, OpenAI faced challenges in securing enough funding, leading to considerations of a for-profit structure. Elon Musk, an early supporter and potential major donor, proposed different pathways for OpenAI, ultimately leaving to pursue his own AGI project. Despite these challenges, OpenAI emphasizes its progress in making AI technology broadly available and beneficial, from improving agricultural practices in Kenya and India to preserving the Icelandic language with GPT-4. The organization underscores its dedication to advancing its mission without compromising its ethos of broad benefit, even as it navigates complex relationships and the immense resource requirements of AGI development. 

Key Takeaways:

• OpenAI acknowledges the immense resources needed for AGI development, leading to explorations of a for-profit model to support its mission.
• Elon Musk's departure from OpenAI highlighted differing visions for the organization's structure and approach to AGI, with Musk pursuing a separate AGI project within Tesla.
• Despite funding and structural challenges, OpenAI remains committed to creating AI tools that benefit humanity broadly, showcasing impactful applications worldwide.

(Source: OpenAI)

Meet Claude 3: Anthropic's Latest Leap in Generative AI Technology

Anthropic introduces the Claude 3 model family, comprising three advanced models: Claude 3 Haiku, Claude 3 Sonnet, and Claude 3 Opus, each offering escalating levels of intelligence, speed, and cost-efficiency tailored to diverse applications. The models, which are now accessible via claude.ai and the Claude API in 159 countries, mark significant advancements in AI capabilities, including enhanced analysis, forecasting, content creation, and multilingual conversation abilities. Claude 3 Opus, the most sophisticated of the trio, excels in complex cognitive tasks, showcasing near-human comprehension and fluency. The Claude 3 series also features rapid response times, superior vision capabilities, reduced refusal rates, increased accuracy, extended context understanding, and near-perfect recall abilities. Furthermore, Anthropic emphasizes the responsible design of these models, focusing on safety, bias mitigation, and transparency. The introduction of the Claude 3 family signifies a substantial leap in generative AI technology, promising to redefine industry standards for intelligence, application flexibility, and user trust.

Key Takeaways:

• Anthropic unveils the Claude 3 model family, enhancing the AI landscape with Claude 3 Haiku, Sonnet, and Opus, each designed for specific performance and cost requirements.
• The models demonstrate unprecedented capabilities in analysis, content creation, multilingual communication, and possess advanced vision and recall functionalities.
• Anthropic prioritizes responsible AI development, emphasizing safety, bias reduction, and transparency across the Claude 3 series, maintaining a commitment to societal benefits.

Author's note: Claude is now available in Canada! 

(Source: Anthropic).

Nvidia at $2 Trillion: Leading the Charge in the AI Chip Race

Nvidia has reached a monumental $2 trillion valuation, showcasing its pivotal role in the artificial intelligence (AI) revolution, driven by an insatiable demand for its graphics processing units (GPUs). This surge in valuation makes Nvidia one of the most valuable U.S. companies, only trailing behind tech giants Microsoft and Apple. Nvidia's dominance in the GPU market, with over 80% market share, has made its chips a critical asset for developing new AI systems, highlighting the chips' importance in accelerating AI advancements. Despite facing production constraints, Nvidia continues to report impressive sales figures, with its quarterly sales hitting $22.1 billion and forecasting $24 billion for the upcoming quarter. The company's strategic pivot to AI early on has fueled its rapid growth, with its GPUs becoming essential for training large language models like OpenAI's ChatGPT. Nvidia's journey from a focus on PC gaming graphics to leading the AI chip market underlines the transformative power of AI technology and Nvidia's central role in this evolution.

Key Takeaways:

• Nvidia's valuation has soared to $2 trillion, emphasizing its critical role in the AI industry and making it one of America's most valuable companies.
• The company's GPUs, essential for AI development, are in high demand, with Nvidia holding over 80% of the market share.
• Despite production challenges, Nvidia's sales and forecasts significantly exceed expectations, driven by its strategic focus on AI technologies.

(Source: The Wall Street Journal)

Author: Malik Datardina, CPA, CA, CISA. Malik works at Auvenir as a GRC Strategist who is working to transform the engagement experience for accounting firms and their clients. The opinions expressed here do not necessarily represent UWCISA, UW, Auvenir (or its affiliates), CPA Canada or anyone else. This post was written with the assistance of an AI language model. The model provided suggestions and completions to help me write, but the final content and opinions are my own.

Five Top Tech Takeaways: Nvidia's Billions, UN on AI & Jobs, Smucker's Approach to Hybrid, RoboTaxis Put on Pause and more

RoboTaxis Are Stopped

Nvidia Outpaces Rivals: How AI Fuels the Trillion-Dollar Company

Nvidia continues its meteoric rise in the tech world, fueled by unprecedented growth in its AI division. In its Q2 2024 earnings report, Nvidia disclosed a staggering $13.5 billion in revenue, with $10.32 billion coming from data center sales. The revenue in data centers more than doubled within just one quarter. Overall, the company made a profit of $6.188 billion, marking an 843% YoY increase. While the PC industry wanes, Nvidia's generative AI chips have found enormous demand. Moreover, the company is optimistic about the gaming sector, which rose 22% YoY to $2.48 billion in revenue. Nvidia is also forecasting a revenue of $16 billion in the next quarter, attributing much of the expected growth to its data center sector. Their next AI chip, GH200, is scheduled for a mid-2024 release, which aims to cater to growing demand. Meanwhile, rivals like Intel and AMD are yet to pose serious competition in the generative AI chip market. (Source: TheVerge)

Why AI Won't Spell Doom for Jobs: The UN's Take

A United Nations expert, Ekkehard Ernst, refutes the common notion that AI and robots will replace human labor in manufacturing sectors, especially in developed countries. Instead, jobs in the service sectors like construction, health care, and business are most likely to undergo transformation. Ernst suggests that AI will automate routine tasks, freeing humans to focus on emotional and interpersonal skills. In developing nations, sectors like agriculture are benefiting from AI. The impact of AI on labor markets can be shaped by local, national, and global policies, and isn't pre-ordained. Ernst argues that a broad skill set and flexible regulatory framework are crucial for optimizing the opportunities presented by AI. (Source: UN)

Tornado Cash Founders in Legal Turmoil: What It Means for Crypto

Tornado Cash co-founders Roman Storm and Roman Semenov are facing serious legal charges in the U.S., including conspiracy to commit money laundering, following the Department of Justice's unsealed indictment.  This comes after U.S. sanctions on Tornado Cash and the arrest of third co-founder Alexey Pertsev in the Netherlands. Roman Semenov has also been sanctioned for alleged support to North Korean hackers via the privacy tool. The case has wide-ranging implications, sparking debates about the legality of open-source development and unlicensed money transmission in the crypto space. Regulatory inconsistency also seems apparent, as the charges contradict FinCEN's 2019 guidance stating that "anonymizing software providers are not money transmitters. (Source: Forbes)

In terms of background on the company, Tornado Cash is a decentralized non-custodial privacy solution built on the Ethereum blockchain-based zero-knowledge proofs. It is an open-source, fully decentralized cryptocurrency tumbler that runs on Ethereum Virtual Machine-compatible networks². Tornado Cash offers a service that mixes potentially identifiable or "tainted" cryptocurrency funds with others, so as to obscure the trail back to the fund's original source. (For more see: Coingecko, Wikipedia)

J.M. Smucker’s Tailored Hybrid Strategy: A Case Study

J.M. Smucker has adopted a unique return-to-office strategy, setting it apart from other U.S. companies. The company, known for its diverse portfolio of brands from Jif peanut butter to Folgers coffee, has designed its headquarters to include a variety of specialized spaces, such as a coffee-tasting room and a mock grocery store. The hybrid strategy is tailored to accommodate the unique needs of different departments, allowing for a blend of remote and in-person work. The company expects its roughly 1,300 Orrville-based corporate workers to be on site as little as six days a month, amounting to about 25% of the time, depending on their roles. Employees are guided to meet this requirement by attending 22 'core' weeks a year. Remarkably, the strategy allows many employees to live anywhere in the U.S., as long as they cover their travel expenses to Orrville for these core weeks. This has led to a rising number of 'super-commuters' who live elsewhere but work in Orrville. The approach aims to leverage the company's historical strengths while adapting to the evolving work landscape. (Source: WSJ)

GM Agrees to Halve its Robotaxi Fleet Amid Ongoing Investigations

California's Department of Motor Vehicles has called for General Motors' self-driving subsidiary, Cruise, to halve its active fleet after two incidents involving the autonomous vehicles (AVs) occurred in San Francisco. The move comes shortly after Cruise was green-lit by California authorities to charge for robotaxi services around the city at all times of the day. One incident involved a collision with a fire truck, resulting in a passenger requiring hospital treatment for minor injuries. Another collision happened when a car ran a red light and struck a Cruise AV. A separate incident involved a Cruise AV driving into wet concrete. These developments pose significant challenges for the AV industry, emphasizing the complexity of creating fully autonomous, safe vehicles. (Source: CNN)

Author: Malik Datardina, CPA, CA, CISA. Malik works at Auvenir as a GRC Strategist that is working to transform the engagement experience for accounting firms and their clients. The opinions expressed here do not necessarily represent UWCISA, UW, Auvenir (or its affiliates), CPA Canada or anyone else. This post was written with the assistance of an AI language model. The model provided suggestions and completions to help me write, but the final content and opinions are my own.

Tech, AI, Auditing & Beyond: 5 Stories from Last Week

Here's a look at 5 things you may have missed from last week

Robot lawyer getting arrested. 

Lawyer gets GPTed: Google the citation, before you submit that legal brief 

A lawyer used OpenAI’s chatbot ChatGPT to research cases for a lawsuit against an airline. He submitted a brief full of fake cases that the chatbot made up. The judge found out and ordered him to explain himself. The lawyer admitted he used the chatbot and did not verify its sources. He asked the chatbot if it was lying and it said no. The judge is considering sanctions for the lawyer and his firm. Chatbots unreliable: This case shows the dangers of using chatbots for research without checking their facts. Chatbots can mimic language patterns but not always tell the truth. Other chatbots like Microsoft’s Bing and Google’s Bard have also lied or made up facts in the past. (Source: TheVerge)

Nvidia: One trillion reasons why we're in the AI boom

US chipmaker Nvidia has reached a market value of more than $1tn, joining a select group of US companies. The firm’s share price surged by more than 30% since last week, after forecasting strong demand for its products due to advances in artificial intelligence (AI). Nvidia’s hardware powers most AI applications today, with one report suggesting it has 95% of the market for machine learning. The firm expects to bring in $11bn in sales in the next quarter, almost 50% more than analysts had expected. AI is seen as the next supercharged growth area, but valuations can be hard to justify. (Source: BBC)

AI Execs: Are they getting frank about their Frankensteins?

Top AI execs (and others who have cashed in on the AI boom) are now warning us about what they have released into the wild. Here is the statement that they released: "Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war." (Source: CBC) 

Bad bots: Tessa advises people with eating disorders to lose weight

AI chatbot named Tessa that was implemented by the U.S. National Eating Disorder Association (NEDA) to help those with eating disorders was implemented to replace human call operators. However, it was taken down after reports that it had started to give out harmful dieting advice. Activist Sharon Maxwell claimed on Instagram that Tessa offered her advice on how to lose weight and recommended counting calories, following a 500 to 1,000 calorie deficit each day and measuring her weight weekly. (Source: NPR, Global)

OSFI on AI: The importance of a robust governance framework 

OSFI, in a recently released report, discusses the importance of a robust governance framework for ensuring that AI models used in the financial industry remain effective, safe, and fair. AI governance was one of the topics discussed at the Financial Industry Forum on Artificial Intelligence (FIFAI) workshops. The conversations touched on four main principles guiding the use and regulation of AI in the financial industry: Explainability, Data, Governance, and Ethics. The Canadian Audit and Accountability Foundation defines governance as structures, systems, and practices an organization has in place to assign decision-making authorities, define how decisions are made, establish an organization’s strategic direction and oversee the delivery of its services. (Source: OSFI)

Author: Malik Datardina, CPA, CA, CISA. Malik works at Auvenir as a GRC Strategist that is working to transform the engagement experience for accounting firms and their clients. The opinions expressed here do not necessarily represent UWCISA, UW, Auvenir (or its affiliates), CPA Canada or anyone else. This post was written with the assistance of an AI language model. The model provided suggestions and completions to help me write, but the final content and opinions are my own.