UBS & Microsoft Team Up on AI, OpenAI's $40B Ambition, Google Tests 'Ask for Me'

Hi there,

Welcome to the latest edition of the Enterprise AI Brief. This week, we're diving into some exciting developments in the world of artificial intelligence. UBS and Microsoft are teaming up to create an AI platform aimed at enhancing wealth management services. Meanwhile, Google is testing a new feature called 'Ask for Me' to streamline service inquiries, potentially transforming customer service interactions.

In other news, OpenAI is seeking a substantial $40 billion in funding, led by SoftBank, to further its AI initiatives. Additionally, Intel has decided to halt the development of its Falcon Shores AI chip, marking a significant shift in its strategy. Stay tuned as we explore these stories and more in this edition.

UBS has partnered with Microsoft to enhance wealth management services using an AI-powered platform on Microsoft Azure. GetWhys has secured $2.75 million in seed funding to enhance its AI-powered customer insights platform. Raintree Systems has unveiled ScribeIQ™, an AI-driven scribe solution designed for rehabilitation therapy.

OpenAI is in discussions to raise up to $40 billion, valuing the company at $340 billion, with SoftBank potentially investing $15 billion to $25 billion. AIBotics plans to acquire DigiTrax, a startup with seven AI-music patents, for $40 million. Medical technology startup REEV has raised $9.2 million to develop wearable robotic systems for individuals with mobility impairments.

Backline AI, Inc. has launched its autonomous security remediation platform with $9 million in Seed funding. The platform uses AI agents to address security vulnerabilities and misconfigurations, aiming to help enterprises manage security backlogs. e& has partnered with IBM to develop an AI governance solution using IBM's watsonx.governance platform, focusing on compliance and ethical oversight. Robotic Assistance Devices, Inc. is deploying AI-driven security solutions in hospitals, with a major healthcare provider ordering 16 RIO 360 security towers for 12 sites. Microsoft is creating the Advanced Planning Unit to research the societal, health, and work impacts of AI technologies.

Intel has decided to halt the market release of its Falcon Shores AI chip, choosing to use it internally instead. Vantage Data Centers has secured over $13 billion in funding to expand its global operations in 2024, driven by the demand for AI and cloud technologies. OpenAI has announced Texas as the flagship location for its Stargate project, which involves building data centers across the U.S. to bolster AI infrastructure.

Hirundo has reduced bias in the DeepSeek-R1-Distill-Llama-8B model by 76% and released the debiased version on Hugging Face, enhancing responsible AI development. Apple CEO Tim Cook discussed the efficiency potential of DeepSeek's AI models and addressed IP theft claims by OpenAI during an earnings call. Google introduced the Gemini 2.0 Pro Experimental AI model via a changelog for its Gemini chatbot app, targeting improvements in factuality and performance in coding and mathematics. The Allen Institute for AI launched Tülu 3, a 405 billion-parameter model that is fully open-source, surpassing DeepSeek v3 and matching GPT-4o. OpenAI launched a new feature called Deep Research in ChatGPT, enabling advanced online research by synthesizing information from multiple sources. Initially available to Pro users, it will soon be accessible to Plus and Team users. Onc.AI received breakthrough device designation from the FDA for its Serial CT Response Score AI model, which helps assess mortality risk in lung cancer patients.