Author: TechBrunch
We live in a very different world since Russia’s invasion of Ukraine in 2022 and Hamas’ attack on Israel on Oct. 7. Global military spending hit $2.4 trillion last year, startups want a share of it, and previously reluctant investors are eager to back them. The U.S. budget is by far the largest, awarding $53 billion worth of contracts to major tech companies between 2019 and 2022. But the rise of defense tech as an investment trend is truly global. Germany-based AI startup Helsing is a prime example of the unprecedented scale of capital available to technology companies with military…
One of the selling points of Google's flagship generative AI models, Gemini 1.5 Pro and 1.5 Flash, is the amount of data they can allegedly process and analyze. During press conferences and demos, Google has repeatedly claimed that these models can achieve previously impossible tasks, like summarizing multiple documents spanning hundreds of pages or searching for scenes in movies, thanks to “long context.” But new research suggests that the model isn't actually very good at those things. Two separate studies looked at how well Google's Gemini model and other models could interpret huge amounts of data (think works the length…
We're halfway through 2024, but this year has already seen some of the largest and most damaging data breaches in recent history. And just when you thought these hacks couldn't get any worse, they do. From untold amounts of personal customer information being scraped, stolen and posted online to the mass theft of medical data for most people in the United States, the worst data breaches to date in 2024 have already seen at least a billion records stolen and counting. These breaches not only impact the individuals whose data has been irretrievably compromised, but they also embolden criminals who…
There's a trend when it comes to established software companies and their skyrocketing valuations: Companies founded in the age of the dinosaurs are booming, as evidenced by SAP's stock price surpassing $200 for the first time this week. Founded in 1972, SAP is now valued at an all-time high of $234 billion. The Germany-based enterprise software provider was valued at $92 billion two years ago and $156 billion 12 months ago, meaning its market cap has increased by more than 50% in the past year alone. SAP shares surged on June 27, 2024. Image courtesy of Ycharts While market valuation…
To shine a well-deserved and long-overdue spotlight on women academics and others focused on AI, TechCrunch is launching an interview series highlighting notable women who have contributed to the AI revolution. Sarah Bitamazile is Chief Policy Officer at boutique consulting firm Lumiera and writes for the Lumiera Loop, a newsletter focused on AI literacy and responsible AI adoption. She previously worked as a policy advisor in Sweden, focusing on gender equality, foreign policy and security and defence policy. Just to briefly ask, how did you get started working in AI? What attracted you to this field? AI found me! AI…
Cryptocurrency platforms will have to report transactions to the US Internal Revenue Service starting in 2026, although decentralized platforms that don't hold assets will be exempt. These were the main points of the new regulations finalized by the IRS and the U.S. Treasury Department on Friday, which essentially implement provisions of the Biden administration's Infrastructure Investment and Jobs Act passed in 2021. While gains from the sale of cryptocurrencies and other digital assets are taxable even without these new regulations, there has been no real standardization on how those holdings should be reported to governments and private investors. Starting in…
As part of a legal settlement, the Detroit Police Department agreed to new guidelines limiting how it can use facial recognition technology. The new policy prohibits police from arresting someone based solely on the results of a facial recognition test or on the results of a mugshot scan conducted immediately following a facial recognition test, and specifies that mugshot scans cannot be conducted based solely on facial recognition, but instead require additional evidence linking a suspect to a crime. The policy, which could be enforced by the courts over the next four years, also mandates police training on the risks…
When Rodney Brooks talks about robotics and artificial intelligence, you should listen. Currently the Panasonic Professor Emeritus of Robotics at MIT, Brooks has also co-founded three major companies, including Rethink Robotics, iRobot, and his current endeavor, Robust.ai. Brooks ran the MIT Computer Science and Artificial Intelligence Laboratory (CSAIL) for a decade, starting in 1997. In fact, he likes to make predictions about the future of AI, and then keeps a scorecard on his blog about how well his predictions are coming along. He knows what he's talking about and thinks it may be time to put the brakes on the…
Matrix has rebranded its affiliates in India and China, becoming the latest venture to distance itself from international franchises. The US-based venture capital firms will retain their names, but Matrix Partners India will change its name to Z47 and Matrix Partners China will change its name to MPC. Matrix began managing its India-linked fund in 2006 and its China fund in 2008. The unexpected rebranding will take effect from July 1. Notably, Matrix's announcement refers to its India and China operations as “entities operating under the Matrix name” rather than as divisions of the company. Matrix Partners India said the…
Adept, a startup that develops AI-powered “agents” that perform a variety of software-based tasks, has agreed to license its technology to Amazon, with its co-founders and part of its team joining the e-commerce giant. The news was first reported by Geekwire's Taylor Soper, who said that Adept co-founder and CEO David Ruan would be joining Amazon, along with Adept co-founders Augustus Odena, Maxwell Nye, Eric Elsen, and Kelsey Szodt, as well as other Adept employees. Adept is not going out of business, however: Zach Block, head of engineering, will take over as CEO and Adept will focus on “solutions that…