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News on Medial
AI As Augmented Intelligence Has A Powerful Proposition As It Augments Human Intelligence, States Indian Angel Network’s Co-Founder Padmaja Ruparel
OutlookIndia
·
1y ago
Medial
Padmaja Ruparel, co-founder of the Indian Angel Network (IAN), believes that instead of job losses, AI and generative AI (gen AI) will lead to skill upgrade and productivity enhancement. Startups are expected to drive technological adoption, and Ruparel predicts that these startups will not only focus on niche-gen AI applications but also expand across sectors like healthcare and manufacturing. She also sees large IT and ITeS companies acquiring startups in order to scale up their business faster. However, she acknowledges that the investment community in India is not yet fully mature when it comes to backing gen AI startups. Ruparel looks for investment propositions that can deliver a different level of wisdom and profitability using AI and Gen AI technology.
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Febi.ai gets funding from Lumis Partners, angel investors
VCCircle
·
9m ago
Medial
Tech startup Febi.ai has secured $2 million in a pre-Series A funding round led by Lumis Partners, and joined by angel investors including Virender Rana, Amit Chaudhary, Padmaja Ruparel, Rohan Bhargava, and Rajat Jain. Febi.ai automates accounting and tax compliance processes using artificial intelligence, and plans to use the funding to enhance AI capabilities, acquire more customers, and expand its workforce. The company provides transaction management, automated file and tax management, smart invoicing and payments, and finance concierge services. It is based in Gurgaon, India.
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Corporate veterans build human capital marketplace for startups
Inshorts
·
8m ago
Medial
Mumbai-based Zyvka, a human capital marketplace founded by corporate veterans Amber Srivastava and Prasad Routray, combines augmented intelligence with human intelligence to provide a hybrid solution to HR needs of startups and high-growth companies. The company reported ₹1.1 crore in revenue in the last FY and aims to surpass ₹2 crore this year, driven by global expansion plans.
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Are we on the cusp of AGI, as Musk suggests? There's reason for doubt
Livemint
·
5m ago
Medial
Elon Musk claims we are nearing the AI singularity, where AI surpasses human intelligence, known as artificial general intelligence (AGI). Despite tech giants promoting advanced AI models, experts like Yann LeCun and Fei-Fei Li argue AI isn’t yet sentient. Concerns include AI misuse, job risks, and unethical actions. While models grow powerful, they lack human empathy. Policymakers are urged to regulate swiftly, as the AGI debate continues to polarize opinions.
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Correcto grabs $7M to build out its 'Grammarly for Spanish'
TechCrunch
·
1y ago
Medial
Madrid-based language writing tool startup, Correcto, has raised $7 million in a seed funding round led by Octopus Ventures. The company aims to build a Grammarly-style auto-editing tool for correcting written Spanish, targeting Spanish speakers. Correcto differentiates itself from other AI language models by offering real-time auto-editing and focusing on providing "augmented intelligence" rather than replacing human writers entirely. The startup plans to use the funding to improve its AI technology and expand its product's capabilities in Mexican, Colombian, and Argentinian Spanish.
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Accounting and tax management platform Febi.ai raises $2 Mn
Entrackr
·
9m ago
Medial
Accounting and tax management platform Febi.ai has raised $2 million in a pre-Series A funding round co-led by Lumis Partners, Virender Rana, Lenskart co-founder Amit Chaudhary, Padmaja Ruparel, Cashkaro co-founder Rohan Bhargava, Rajat Jain, and other investors. The proceeds will be utilized to further advance its artificial intelligence capabilities to automate accounting and tax compliance processes, ramp up customer acquisition, and expand its workforce, Febi.ai said in a press release. Co-founded in 2022 by Amit Jindal, Saurabh Jain, Ashu Goel, and Rahul Bansal, Febi.ai leverages AI technology to eliminate the hassles of manual data entry and errors in accounting and invoice verification. The platform automates documentation management and tax compliance while providing founders and entrepreneurs with real-time business insights to make informed decisions with greater confidence. The Gurugram-based company aims to solve real-time problems faced by teams and end users of existing accounting and tax compliance platforms. The platform claims to have been built by the chartered accountant community and will empower entrepreneurs and the CA community with real-time insights and effective ways to manage accounting and tax compliance functions. Febi uses a cutting-edge AI/ML platform, coupled with a team of seasoned domain experts, including CAs and personal accountants, to ensure seamless management of all accounting, tax compliance, and finance operations in real-time. It also leverages a dedicated personal accountant for strategic financial guidance and support.
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Sam Altman Says He Intends to Replace Normal People With AI
Futurism
·
1y ago
Medial
OpenAI CEO Sam Altman's frequent use of the term "median human" in discussing artificial general intelligence (AGI) raises concerns. Altman envisions AGI as having the intelligence of a "median human co-worker," leading to questions about replacing human workers with AGI. Critics find the terminology offensive and vague, highlighting the challenges of comparing AI performance to human intelligence. Altman's influential position in the industry makes his views significant, sparking debates about the role of AGI in society and its potential impact on jobs and humanity.
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OpenAI CEO Sam Altman says possible to get regulation wrong, but should not fear it
Economic Times
·
1y ago
Medial
OpenAI CEO, Sam Altman, expressed that while he is not overly concerned about government over-regulation, it is possible to get regulation wrong and it should not be feared. He emphasized the need for regulation of the most powerful AI systems, such as those that are significantly more powerful than GPT4 and as intelligent as human civilization. Altman also acknowledged that regulation has been beneficial in many industries, citing the example of air travel safety regulations.
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World’s first global AI resolution unanimously adopted by United Nations
Arstechnica
·
1y ago
Medial
The United Nations General Assembly has unanimously adopted what is considered the first global resolution on artificial intelligence (AI). The nonbinding resolution aims to protect personal data, improve privacy policies, monitor AI risks, and uphold human rights. It gained support from 121 countries, including China and the United States. The resolution, titled "Seizing the opportunities of safe, secure and trustworthy artificial intelligence systems for sustainable development," is seen as a significant step in establishing international guidelines for the ethical development of AI. It comes as governments worldwide are seeking to influence the trajectory of AI development amid concerns about its potential risks and impacts.
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EU agrees to landmark rules on artificial intelligence
Arstechnica
·
1y ago
Medial
The European Union has reached a historic agreement on legislation to regulate artificial intelligence (AI). The EU's AIAct aims to establish clear rules for the use of AI technology, positioning the continent as a global leader. After years of discussions, the deal was recently finalized after extensive deliberations between member states, European Parliament, and the European Commission. While some European companies have expressed concerns about overly restrictive rules hindering innovation, the EU aims to prioritize human interests in AI development.
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UN adopts first global artificial intelligence resolution
Reuters
·
1y ago
Medial
The United Nations General Assembly has adopted the first global resolution on artificial intelligence (AI). The nonbinding resolution, proposed by the United States and co-sponsored by China and 121 other nations, aims to protect personal data, monitor AI risks, and safeguard human rights. It took three months to negotiate and emphasizes the need to balance AI development with the protection of human rights. The resolution is part of a broader effort by governments to shape AI's development amid concerns over potential negative impacts. However, the resolution does not have any enforceable measures.
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