Five Top Tech Takeaways: SBF Gets Convicted, Elon Releases Grok, OpenAI's AppStore, Samsung's AI Plunge and Neuralink's Human Trials

SBF goes to Jail.

Sam Bankman-Fried Convicted: Jury Delivers Guilty Verdict in 5 Hours!

Sam Bankman-Fried (SBF), the founder of FTX, has been found guilty on all seven criminal fraud counts, potentially facing up to 115 years in prison. The jury arrived at the verdict within 7 hours. As predicted in a previous post, SBF's ill-advised media tour contributed to his downfall. The swift verdict also served as a stinging rebuke to Michael Lewis's portrayal of the SBF-FTX saga, which painted a sympathetic picture of the now-convicted fraudster. For Coffeezilla's take on Lewis's account, see below. For a video summary of the whole affair, check out ColdFusion's video. 

• Takeaway 1: Bankman-Fried was convicted of a range of fraud charges, including wire fraud and conspiracy against FTX customers and lenders, securities and commodities fraud against investors, and money laundering.
• Takeaway 2: The case underscores the importance of ethical conduct and transparency in business operations, especially in new and complex industries like cryptocurrency.
• Takeaway 3: The swift verdict, delivered after a month-long trial featuring testimony from former close associates, highlights the severity with which the justice system treats financial fraud.

(Source: CNBC)

Elon Musk's Grok: Pushing the Boundaries of AI Conversations

Elon Musk's new venture, xAI, has announced the creation of Grok, an AI language model that boasts a unique blend of humor and rebelliousness, designed to respond to queries that other AIs typically avoid. This development raises intriguing questions about the balance between AI freedom and ethical guardrails.

• Takeaway 1: Grok is positioned as an unconventional AI that can engage with "spicy" content, a departure from the cautious approach of mainstream AI models.
• Takeaway 2: The absence of standard content filters in Grok could lead to ethical and legal challenges, especially if it generates biased or harmful content.
• Takeaway 3: Despite its controversial nature, Grok's creation in just two months and its integration with real-time information from platforms like Twitter could represent a significant advancement in AI responsiveness and relevance.

(Source: WIRED)

ChatGPT Goes Custom: OpenAI's Latest Innovation

OpenAI is set to revolutionize the AI industry with the launch of its GPT Store, a platform akin to Apple's App Store, which will allow developers to create and share custom versions of ChatGPT. This initiative not only opens up new possibilities for personalized AI applications but also promises to share revenue with AI bot creators, fostering a new ecosystem of AI-driven services. OpenAI's GPT4 LLM now goes up to April 2023 (instead of September 2021). 

• Takeaway 1: The GPT Store will enable the creation and discovery of specialized ChatGPT bots, potentially leading to a surge in personalized AI services.
• Takeaway 2: OpenAI's move mirrors the App Store's strategy, aiming to become a central hub for AI tools and applications.
• Takeaway 3: The platform is designed to be collaborative, with revenue-sharing to incentivize developers, which could democratize AI development and usage.

(Source: The Verge)

Breaking Language Barriers: Samsung's Galaxy AI Initiative

Samsung is set to enhance its Galaxy S24 series with advanced AI capabilities, as confirmed by a recent blog post from the company. The new Galaxy AI feature will include AI Live Translate Call, allowing Galaxy phones to act as real-time personal translators during calls and texts, akin to live closed captions. This feature, part of the on-device and cloud-based AI experience, is expected to debut early next year, presumably with the Galaxy S24, which is rumored to be unveiled on January 18th.

• Takeaway 1: Samsung's Galaxy S24 series will introduce Galaxy AI, emphasizing real-time translation during calls and texts.
• Takeaway 2: The AI Live Translate Call feature signifies a leap in communication technology, potentially eliminating language barriers.
• Takeaway 3: The Galaxy S24 is rumored to feature a titanium frame and a 6.8-inch flat display, indicating significant hardware upgrades alongside the AI enhancements.

(Source: MobileSyrup)

Neuralink's Human Trials: A Step into the Future of Neurotechnology

Elon Musk's Neuralink has garnered significant interest for its upcoming human trials, with thousands of people reportedly eager to participate. The company, which received FDA approval earlier this year, aims to implant devices that could act as a "Fitbit in your skull," targeting individuals with paralysis from spinal cord injuries or amyotrophic lateral sclerosis (ALS). Neuralink's ambitions don't stop there; they envision a future where humans can communicate with machines and control digital interfaces using only their thoughts. However, the invasive nature of the procedure, which involves removing a portion of the skull to insert electrodes into the brain, necessitates a cautious approach, as emphasized by Neuralink's director, Shivon Zilis.

• Takeaway 1: Neuralink is moving towards human trials with a high level of public interest, aiming to assist those with severe neurological conditions.
• Takeaway 2: The technology involves a significant surgical procedure, replacing part of the skull with a device connected to the brain via ultra-thin threads.
• Takeaway 3: Despite the potential benefits, the invasive nature of the implantation process raises important ethical and safety considerations.

(Source: Business Insider)

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.

Top Five Tech Takeaways: Llama2 joins the GenAI Fray, XRP Mixed Judgment, Co-pilot Pricing Announced, Tech Reacts to Bill C-18, and Code Interpreter Debuts

Robo Llama Joins the GenAI Battle

Llama2 Joins the GenAI Battle: Meta Offers it Free for Research and Commercial Use

Meta has recently announced the launch of Llama 2, the highly anticipated second generation of their open source large language model. Llama 2 has been released for both research and commercial purposes, free of charge, to promote innovation and development in the field. Microsoft, a longstanding partner of Meta, is deepening its involvement in this project and has become the preferred partner for Llama 2, making it available through Azure. The widespread endorsement from a variety of stakeholders across the technological landscape, academia, and policy, signifies the embracement of Meta's open innovation approach in AI. The model is free for both academic and commercial use - as long you have less than 700 million users. (Source: Meta, The AI Advantage)

Microsoft Unveils AI Copilot: A Pricier Path to Productivity?

Microsoft has unveiled its plans to integrate an AI engine, dubbed Microsoft 365 Copilot, across its productivity suite, with a proposed cost of $30 per user per month. Copilot, comparable to ChatGPT, can execute tasks across various Office applications, from editing Word documents and summarizing Excel data trends, to creating PowerPoint presentations and drafting emails in Outlook. Copilot is set to roll out for 365 E3, E5, Business Standard, and Business Premium customers, though an exact launch date has not been disclosed. Microsoft also plans to include a privacy-centric version of its Bing chatbot that will not store chat history, as an added measure to protect corporate data. (Source: Yahoo)

Bill C-18 Fallout: Tech Giants Google and Meta Block News in Canada

In a strong rebuke to Canada's Bill C-18, which mandates payments from tech giants for news links to support the Canadian news sector, Google and Meta have responded by blocking news links in Canada. Initially, Google had voiced concerns about the approach's uncapped liability and the risky business framework it presented, while Meta had regarded news contribution as highly substitutable. However, the companies' decisions to cut off news links could lead to dramatic consequences: a potential decline in news outlets due to reduced traffic and revenue, decreased reliability of Google's search services, increased reliance on foreign news sources, and a surge in misinformation. (Source: Michael Geist)

Ripple vs SEC: A Mixed Verdict over XRP Sales

In the lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC), the verdict delivered was a mixed bag. The court ruled that Ripple's sales of its cryptocurrency, XRP, on public exchanges did not constitute offers of securities, hence rejecting part of the SEC's claim. However, the SEC scored a partial victory as the court found Ripple's $728.9 million sales of XRP to institutional investors were unregistered securities sales. Additionally, it was determined that Ripple's executives couldn't argue a lack of "fair notice" that XRP was a security at the trial. (Source: Reuters)

OpenAI's Code Interpreter: Your New Companion for Data Analysis, Visualizations, and More

OpenAI has recently added a new plug-in to ChatGPT Plus called the Code Interpreter, turning the AI into a personal data analyst. This plug-in utilizes Python to generate responses and allows users to both upload and download files. Here is Business Insider's summary of the key capabilities:

1. Data Analysis: Users can provide large datasets to the chatbot and request detailed analyses to identify trends, making it capable of handling data in various formats including CSV, XSLT, and JSON.
2. Data Visualizations: Code Interpreter can generate graphs based on provided datasets, useful for data exploration and visualizations.
3. Data Cleanup: Instead of manually processing data, Code Interpreter can clean up datasets in seconds, making it a valuable tool for data hygiene.
4. Game Generation: Users can instruct Code Interpreter to create games from scratch, offering a unique application in recreational coding.
5. Video and GIF Creation: The plug-in can also generate animated clips and GIFs from images and vice versa, providing users with more creative content creation options.
6. File Conversion: Code Interpreter can efficiently handle file conversions, such as transforming a PNG file into a JPEG, or an MP4 file into a GIF.
7. Code Writing and Debugging: Despite its focus on non-coders, Code Interpreter can write and debug code, demonstrating its ability to produce and improve coding output.
8. Playlist Analysis: The plug-in can be used to analyze Spotify playlists, offering new ways to interpret personal music trends.
9. QR Code Generation: Code Interpreter can also generate QR codes, simplifying this process for users and providing quick access to web links. 

Here is Andrew Stapleton's take on the OpenAI's latest:

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.

The Furious Five for June 13: Tech and Business Stories You May Have Missed

The EV Charger to Rule them All

Apple Unveils is Vision Pro Headset: Are we Ready for Spatial Computing?

Apple has announced its much awaited VR headset. Last week, they unveiled the Vision Pro Headset, which is designed to seamlessly blend digital content with the physical world. This much awaited device allows users to interact with a three-dimensional user interface controlled by eye movements, hand gestures, and voice commands, and is powered by visionOS, the world's first spatial operating system. Careful to separate themselves from the competition, they classified the Vision Pro as their first spatial computer. The Vision Pro Headset is priced at $3,499 and is slated for release in early 2024. (Sources: Apple, Wired) 

For a great summary on Apple's latest, check out Cold Fusion's review:

Crypto Crackdown Continues: SEC Sues Binance and Coinbase

The Securities and Exchange Commission (SEC) has sued Binance and Changpeng Zhao (Binance’s Canadian founder and controlling shareholder) for operating an illegal trading platform in the U.S. and misusing customers’ funds. Binance is the world’s largest cryptocurrency exchange. The SEC said that Binance and Zhao misused customers’ funds and diverted them to a trading entity that Zhao controlled. That trading firm, Sigma Chain, engaged in manipulative trading (known as "wash trading") that made Binance’s volume appear larger than it actually was, the SEC said. Binance also concealed that it commingled billions of dollars in customer assets and sent them to a third-party, Merit Peak, which was owned by Zhao, the SEC alleged. The SEC filed the case in federal court in the District of Columbia and is asking a federal judge to freeze Binance’s assets and appoint a receiver. (Source: WSJ)

SEC then filed a lawsuit against Coinbase, for allegedly operating as an unregistered broker and exchange. Unlike Binance, Coinbase is listed on the NASDAQ and hence regulated by the SEC. The SEC claims that Coinbase violated rules that require it to register as an exchange and be overseen by the federal agency. Coinbase has denied the allegations and intends to defend itself in court. The SEC’s strategy has centered on using its enforcement division to subdue crypto companies and show why its regulations apply to crypto activities, with increasing focus on the biggest players rather than just the companies and currencies at the margins. Coinbase pushed back on Tuesday, accusing the SEC of taking an “enforcement-only approach” with the crypto industry in the absence of clear rules. Brian Armstrong, CEO of Coinbase, had the following take:  

“The solution is legislation that allows fair rules for the road to be developed transparently and applied equally, not litigation,” Paul Grewal, chief legal officer of Coinbase, said in a statement. “In the meantime, we’ll continue to operate our business as usual.” The lawsuits are part of a growing regulatory crackdown on the crypto industry in the post-FTX fallout. (Source: WSJ)

Global Tech Giants Bet Big on AI, Back Cohere with $270M Funding

AI startup Cohere has raised $270M in a Series C financing round, attracting investors from around the globe and notable tech firms like NVIDIA, Oracle, and Salesforce Ventures. This surge in investment underlines the growing recognition of AI as a critical driver of business success in the coming decade. The round was led by Inovia Capital and included participation from investors in the USA, Canada, Korea, the UK, and Germany. Cohere's CEO, Aidan Gomez, emphasized the company's readiness to lead in the next phase of AI products and services that will revolutionize business, while NVIDIA's CEO, Jensen Huang, hailed Cohere's contributions to generative AI as foundational. (Source: Cohere)

GM and Ford's EVs to Plug into Tesla's Charging Network

General Motors (GM) and Ford electric vehicles will gain access to Tesla’s vast U.S. charging network starting early next year. Both GM and Ford are aligning their electric vehicles to be compatible with approximately 12,000 out of Tesla's 17,000 chargers. The Detroit auto giants are advocating to establish Tesla's connector as the industry standard. At first, GM and Ford EV owners will need an adapter to hook into the Tesla stations, but both GM and Ford will switch to Tesla’s North American Charging Standard connector starting with new EVs produced in 2025. (Source: CBC, CNBC)

Data Management: An Inescapable Necessity in the World of Generative AI

As interest in Generative AI rises, the importance of robust data management in businesses comes to the fore. Efficient data storage, filtering, and protection are necessary for successful AI integration. A properly structured data management system is essential for companies to effectively utilize large language models. A key concern for these companies is the quality of data, which must be well-structured, relevant, and organized for effective AI training. Therefore, firms must carefully cleanse, categorize, and format their data to avoid retaining useless information. As highlighted in the Wall Street Journal, organizations such as Syneos Health are prioritizing such data cleansing efforts. Syneos spent roughly 18 months prepping this repository for AI model training and construction. This process involved a team of data scientists and business experts who created centralized, reusable machine-learning elements. (Source: WSJ)

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.