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In Today's Article:
Meta stock soared after integrating AI
Apple to Announce AI Features
European union closer to an AI agreement
Read time: 2 minutes
Apple to announce AI features
Tim Cook
In a recent earnings call, Apple CEO Tim Cook revealed AI features will be available later this year.
Tim Cook also said Apple had spent a “tremendous amount of time and effort” on generative AI. Although Cook did not provide details about the features, that may lead to the announcement getting more anticipated hype.
While no specific date for the AI reveal was provided, Apple's WWDC in June is highlighted as a potential venue for major announcements.
Today’s News in AI
Meta's fourth-quarter earnings soared with a 15% increase in after-hours trading, announcing a $0.50-per-share dividend and a $50bn share buyback program. Revenue hit $40.1bn, up 25% year-over-year, beating the $39.18bn forecast. The growth is attributed to integrating AI into products, with a significant $9bn investment in Nvidia chips. Despite laying off over 20,000 workers for efficiency, operating margins doubled to 41%. Regulatory challenges persist, especially concerning young users' online safety. Reality Labs reported a $4.65bn loss, with overall losses reaching $16.12bn. Competition from TikTok and decreasing popularity among teens in the US pose additional challenges.
On Friday, European countries endorsed a political deal for adopting regulations on artificial intelligence (AI) use, including models like Microsoft-backed ChatGPT, proposed by the European Commission three years ago. The rules aim to establish a global standard for AI across various industries, addressing concerns about AI's military and security applications. EU industry chief Thierry Breton called it a historic milestone. The spread of deepfake incidents, exemplified by fake images of Taylor Swift on social media, highlights the necessity for these rules, according to EU digital chief Margrethe Vestager. The AI Act is set to go into effect by 2026 after parliamentary votes.
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