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News on Medial
Apple is quietly stockpiling startups and hunting for talent as it fights for a slice of the AI boom
Business Insider
·
1y ago
Medial
According to a report by the Financial Times, Apple is intensifying its AI efforts by acquiring 21 AI startups since 2017, more than any other tech giant. The company is said to be focused on running AI directly on iPhones rather than relying on cloud services. Additionally, Apple is reportedly working on an enhanced, AI-powered version of Siri that could launch alongside iOS 18 in June. The company is also hiring AI talent to improve Siri's capabilities and is ramping up its AI-focused job listings in various areas.
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Artificial intelligence will augment human ingenuity, not replace it, says Adobe CEO
Economic Times
·
1y ago
Medial
Shantanu Narayen, CEO of Adobe Inc., believes that artificial intelligence (AI) will enhance human creativity rather than replace it. He warns against rushing to regulate AI and limiting its advancements. Narayen also discusses the role of Adobe India in developing AI-led products and the potential monetization opportunities arising from the AI boom. He expresses optimism about India's future, citing demographics, talent, technology, and the government's efforts in digital public goods.
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Startup employees look for exits amid crises; outside talent reluctant to join
Economic Times
·
1y ago
Medial
The attractiveness of the startup sector in India has further diminished due to the ongoing crises at Byju's and Paytm. Recruiters are finding it difficult to attract talent from other sectors, particularly at senior levels. Many employees who joined startups from traditional sectors during the boom are now looking to return, even accepting pay cuts. The troubles faced by decacorns and issues related to compliance are making it challenging to fill CXO roles in startups. Professionals are seeking opportunities in MNCs and conglomerates for stability and a safer work environment. However, it is believed that this is a temporary phase, and the startup sector will regain its appeal when funding increases.
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Tech Leaders Fled San Francisco During the Pandemic. Now, They’re Coming Back.
Livemint
·
1y ago
Medial
Venture capitalist, Keith Rabois, touted Miami as a better alternative to San Francisco due to safety, lower taxes, and a tech-friendly mayor. However, several startups he backed are now relocating or opening offices elsewhere to attract engineering talent. Despite an initial trend of Silicon Valley executives moving to sunnier American cities during the pandemic, San Francisco is witnessing a tech revival. Investment in Bay Area startups dropped less than other tech hubs like Austin and Los Angeles. Tech leaders are returning to San Francisco, recognizing its AI boom and maintaining a presence for its ecosystem and brainpower.
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Apple to Bring Generative AI to Siri
Startup News FYI
·
1y ago
Medial
Apple is finally entering the generative AI landscape, aiming to develop generative AI features across its devices. CEO Tim Cook acknowledges that the company has been working on this technology for years, but it was caught off guard by the AI boom. Apple's generative AI initiative will be led by senior VPs John Giannandrea and Craig Federighi, with a budget of $1 billion per year. They are focusing on enhancing Siri and integrating generative AI into iOS and various Apple apps. The deployment method (on-device, cloud-based, or hybrid) is still under debate.
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It seems some tech leaders are coming back to San Francisco
Business Insider
·
1y ago
Medial
San Francisco is seeing some tech bosses return to the city following the pandemic-induced exodus. Founders and investors, including Keith Rabois, Henrique Dubugras, Pedro Franceschi, and Howie Liu, who had previously left for other cities, are now being drawn back by the AI boom and the search for new talent. The commercial real estate market in San Francisco is also experiencing growth due to the rise of AI startups, with companies like OpenAI leasing significant office space. Despite challenges such as homelessness and crime, the tech industry's presence in the city is expected to increase.
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Metalab goes from quietly building the internet to investing in it
TechCrunch
·
1y ago
Medial
Canadian design firm Metalab has launched Metalab Ventures to invest in startups it has previously helped build products for. Metalab, which counts Slack, Coinbase, Uber, and Tumblr among its clients, will act as a co-founder, helping startups get their products off the ground before "letting them loose" to grow. Metalab Ventures has raised $15m for its first fund, which will invest in 25-35 startups at pre-seed, seed, and Series A stages. Its focus will be on product-led startups where strategy, design, and technology are key differentiators.
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AI talent war heats up in Europe
Economic Times
·
1y ago
Medial
The battle for AI talent in Europe is intensifying as a growing number of AI startups attract investors and set up offices in the region. Google DeepMind, once a dominant player, is now facing competition from well-funded rivals and losing some of its own employees. To retain talent, DeepMind has reportedly offered restricted stock to senior researchers. Other AI companies in the region, such as Cohere and Anthropic, are also aggressively hiring talent, resulting in a significant increase in pay for executives. Startups are attracting talent from larger tech companies by offering more influence and a stake in the company's success.
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Beta Boom Closes $14.5M Fund II
Finsmes
·
1y ago
Medial
Beta Boom, a Salt Lake City-based venture capital firm, has successfully closed a $14.5 million Fund II. The funding round received support from various limited partners including Ally Bank, Pivotal Ventures, Bank of America, and Atento Capital. This marks another milestone for Beta Boom as it continues to support pre-seed and seed stage startups. For more information, visit VCWire.tech, a dedicated website for the tech venture capital industry.
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Apple bought 30+ AI startups last year, more than other tech giants
Startup News FYI
·
1y ago
Medial
According to a report, Apple acquired up to 32 AI startups in 2023, surpassing other tech giants in AI acquisitions. Apple has a strategic approach of acquiring early-stage startups, indicating its proactive investment in emerging AI trends. The exact number of acquisitions is estimated, as Apple often keeps its purchases quiet. The company's focus is on technology and team acquisition, but it rarely discloses specific reasons behind its purchases.
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India played pivotal role in shaping Paris AI summit leaders' statement: Union Minister Ashwini Vaishnaw
Economic Times
·
5m ago
Medial
India played a crucial role in the AI Action Summit in Paris, co-chaired by PM Narendra Modi. Union IT Minister Ashwini Vaishnaw highlighted India's strategic advantages in IT, talent, and innovation, positioning it uniquely in the global AI sphere. The summit's leaders' statement emphasized AI infrastructure access, responsible use, diversity, and governance. India is enabling access to AI infrastructure for startups and academia, and is set to host the next AI Summit, asserting its leadership in AI governance.
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