๐Ÿ’ฅ Billion-Dollar Bets on AI: Big Tech’s Money Frenzy Sparks New Era in Machine Learning! ๐Ÿ’ฐ๐Ÿš€

  1. Big tech companies are investing billions in machine learning tools, with Dropbox, AWS, Salesforce Ventures, Workday, Accenture, and PwC leading the way.

  2. While there’s a lot of money being poured into AI, the issue lies in the opaqueness of the tech behind AI applications, as highlighted by Meredith Whittaker, president of Signal. The lack of transparency can lead to situations where individuals are denied loans without understanding the underlying AI systems used in the decision-making process.

  3. The European Consumer Organisation (BEUC) called for urgent investigations into the risks of generative AI, emphasizing the need for regulation and careful use of AI technologies.

Supplemental Information โ„น๏ธ

The article highlights the significant investments made by big tech companies in machine learning tools, signaling the intense competition in the AI space. It also raises concerns about the lack of transparency and potential societal impact of AI systems, emphasizing the need for regulation and ethical considerations.

ELI45 ๐Ÿ’

Big tech companies are spending billions on machine learning tools. However, the tech behind AI applications can be secretive, leading to issues like loan rejections without explanation. European regulators are calling for investigations into the risks of AI, highlighting the need for rules and guidelines.

Source ๐Ÿ“š: https://techcrunch.com/2023/06/24/this-week-in-ai-big-tech-bets-billions-on-machine-learning-tools/amp/