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🇬🇧 OpenAI’s Europe Expansion

PLUS: Biotech and AI - a match made in heaven?

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Happy Friday, fellow humans. 👋

Another AI-filled week in the books. I hope everyone has a great weekend!

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🧵 In today's edition:

  • 🇬🇧 OpenAI’s Europe Expansion

  • 💘 Biotech and AI - a match made in heaven?

  • 🥋 Welcome to Tesla's Dojo

  • 🤑 AI Fundraising News

🤖 Top AI News

🇬🇧 OpenAI’s Europe Expansion

OpenAI continues to make strategic moves in Europe, with plans to open its third office in Ireland, emphasizing its commitment to privacy and regulatory compliance.

Why Ireland?

  • It’s a strategic choice, offering closer ties with European lawmakers and customers.

  • Favorable tax rates = more money 🤑

And good news if you are in Europe - OpenAI is actively hiring for positions like associate general counsel for EMEA, policy and partnerships lead for global affairs, privacy program manager, software engineer focusing on privacy, and media relations lead.

This move makes a lot of sense for OpenAI, considering the upcoming EU AI Act that’s set to regulate AI applications based on risks.

OpenAI CEO Sam Altman has engaged with European regulators, expressing concerns about excessive AI regulation. This move to establish a presence in the EU reflects OpenAI's recognition of Europe's growing importance in AI regulation.

Overall: While OpenAI's hiring efforts may seem modest compared to industry giants like Meta, Alphabet, and Microsoft, it underscores the significance of Europe in the AI landscape. OpenAI is poised to expand its presence and engagement with European regulators as it navigates evolving AI regulations in the region.

Read more: TechCrunch

💘 Biotech and AI - a match made in heaven?

AI has the potential to revolutionize biotech completely.

Moderna's CEO, Stéphane Bancel, recently revealed that the company has been using AI for years, well before the ChatGPT hype, to revolutionize the field of biotech.

AI played a crucial role in Moderna's achievements, from creating its groundbreaking COVID-19 vaccine to developing new enzymes and lipids for drug manufacturing.

In addition to drug development, Moderna employs AI in contract review and regulatory interactions, enhancing productivity and efficiency.

Here’s how Moderna is taking advantage of AI:

  • Moderna initiated an AI Academy to train its employees, bridging the gap between seasoned professionals and tech-savvy newcomers.

  • Moderna also uses AI to develop personalized cancer vaccines by teaching the immune system to target specific mutations in a patient's cancer cells.

  • Regarding patenting AI-generated innovations, Bancel clarifies that practical implementation and physical validation remain essential, dispelling the notion that AI alone can replace traditional patent processes.

Overall: As the intersection of AI, software, and biotech gains momentum, Moderna exemplifies how AI can fuel innovation, transform industries, and ultimately lead to groundbreaking medical advancements.

Read more: Semafor

🥋 Welcome to Tesla's Dojo

In the ever-evolving landscape of AI, the recipe for success seems simple: computing power + data = advancements.

A recent report by Morgan Stanley speculates that Tesla's supercomputer, Dojo, designed to enhance autonomous driving, could add a whopping $500 billion to Tesla's value.

The report highlights the potential of Dojo, custom processors, and vast driving data collected by Tesla vehicles. It argues that these elements will give Tesla a significant edge in autonomous driving and open doors in other industries like healthcare, security, and aviation.

However, this optimism should be taken with a grain of caution. While more computing power and data have fueled breakthroughs, predicting specific advancements and timelines remains challenging.

For instance, Tesla's Full Self Driving (FSD) software relies on neural networks trained to mimic human driving, similar to how ChatGPT learns from vast text examples. Elon Musk has hinted at a "ChatGPT moment" for FSD, but his track record of over-promising raises doubts.

Overall: While some experts believe that self-driving capabilities can scale with data and computing power, the extent of this scalability remains uncertain. It will be interesting to see how they can utilize their supercomputer to deliver outsized advancements.

Read more: Wired

🤑 AI Fundraising News

LastMile AI closes $10M seed round to 'operationalize' AI models

Pixis raises $85M in Series C funding to identify, convert, and target audiences for a brand, product, or ad campaign and generate assets such as texts, images, and emails.

🗞️ AI Quick-Bytes

What else is going on?

  1. Anne Hathaway, Octavia Spencer, Tom Hanks Working on AI Likeness Rights With Metaphysic

  2. Why Japan is building its own version of ChatGPT

  3. German military plows millions into AI 'environment' for weapons tests that could change combat forever.

  4. Patronus AI conjures up an LLM evaluation tool for regulated industries

  5. Second-largest Thai bank creates $100-million AI fund

  6. Employees are feeling 'AI Anxious' — they're worried about falling behind on AI and even pretending to be 'in the know' to colleagues

  7. A Robotaxi Was Blamed for a San Francisco Man's Death, But He Was Actually Hit By a City Bus

🐦️ Tweet of the day

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