New US Congress bills + UNESCO policy paper on AI

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📝 2 new US Congress bills + UNESCO policy paper on AI

🛡️Improbable lets go of its defense metaverse

🤔 A16z co-founder condemns false AI claims

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2 new US Congress bills + UNESCO policy paper on AI

Two powerful forces assert their right to scrutinize and gatekeep AI safety amid growing interest and usage of the new technology.

• US senators last Thursday introduced two different bipartisan AI bills: one requiring the US government to be transparent in AI usage whenever people interact with them (and to enable people to appeal decisions made by AI), and another establishing an office to determine if the country remains tech-competitive, through an Office of Global Competition Analysis.

• Amid “growing political, public, and industry concern over the rapid proliferation of AI foundation models and calls for regulation, UNESCO published a policy paper to help identify and clarify key ethical concerns related to AI, guiding policy responses.

World leaders and field experts barely shy away from raising concerns around the use of AI by malicious parties, including deepfakes (which increased by 26 times since 2012), the exacerbation of existing biases, and the spread of disinformation and misinformation.

In the US, briefings include a general overview on AI risk and safety, with the White House hosting tech leaders as well as renowned researchers and personalities calling for AI pause amid the rise of ChatGPT and generative AI across industries.

Improbable lets go of its defense metaverse [Link]

The London-based metaverse startup Improbable has announced on 5 June that it’s selling its defense business to a group of investors led by Luxembourg-based asset manager NOIA Capital.

An inside look into the deal:

• The company’s defense platform Skyral is based on the same technology as its metaverse tech M2.

• The transaction will include the transfer of some 70 engineers and modelers, as well as ongoing contracts with the UK’s Ministry of Defence (MoD), among other business interests.

• Improbable has won a series of lucrative gov’t contracts over the past few years, having been handpicked to provide a next-gen digital twin network in 2021 and a Single Synthetic Environment tech (metaverse) in 2020.

Improbable’s defense segment is deemed the only part of the business that’s yet to become profitable. The deal follows a series of layoffs in December last year, when 95 people were made redundant from its defense sector team, in the company’s quest for profitability.

A16z co-founder condemns false AI claims [Link]

Marc Andreessen, general partner and co-founder of Andreessen Horowitz (a16z), has taken to Twitter to share his views on AI and address common risks associated with the AI boom.

Some of the key highlights of his thread:

• Emphasized the importance of rapid AI innovation without regulatory capture or cartel hindering competition

• Advocated for optimizing the tech and societal benefits of modern capitalist companies

• Dismissed the notion that AI would develop sentience and pose a threat to humanity

• Clarified that AI is mathematically created, owned, and operated by people and does not have the ability to harm humans

• Argued that AI can increase productivity, leading to job creation and economic growth

In closing Andreessen recognized the contributions of AI scientists and engineers, rejecting fear-mongering and calling them heroes rather than reckless villains.

Metaverse Beauty Week set in full gear

Online virtual worlds such as Decentraland hub, Spatial metaverse and Roblox, along with a physical location at Flannels London are coming together to host Metaverse Beauty Week on June 12 to 17.

Here's what to expect from this inaugural event:

• The event is backed by over 200 influencers from the participating brands and creative digital communities.

• Major luxury players such as L'Oréal and Estée Lauder Group are absent, and instead the focus is on mid-market brands Neutrogena, Lush, emerging labels like Lottie London and Essence, and eco-responsible brands like Valdé Beauty.

• Metaverse Beauty Week is open to all, allowing avatars to be customized and self-expression through "emotes." Creating a guest account is optional, though wallet connection is recommended for free items.

Cat Turner, CCO of Cult and Metaverse Beauty Week Co-Founder, harps on the event's goals of self-expression, escapism, and challenging traditional beauty standards.

Quick Hits

🎮 Gaming

• Crypto firm Ava Labs introduces Avalanche Arcad3 to introduce gaming outfits into the web3 ecosystem. (Link)

• The metaverse “is all about leveraging technologies, many of which were already in existence, to allow brands to create immersive experiences”: Super League Gaming CEO Ann Hand in a new podcast. (Link)

• Star Wars: Outlaws, coming in 2024, is a new open-world game from Ubisoft. (Link)

• Decentraland kicks off June by pulling its powerful SDK 7 out of its beta phase and completely revamping its homepage. (Link)

• A game journo wonders: what is metaverse gaming, will it actually be a thing, and will it have less talking penises than Second Life? (Link)

• South Korean game companies are on an all-out offensive to recruit AI talent. (Link)

🕶 Fashion

• How Zara’s metaverse fashion is bridging reality and digital fantasy. (Link)

• Could the rise of metaverse fashion see the acceleration of style’s constant evolution? (Link)

• Gucci Town forges a new kind of retail community in the metaverse. (Link)

• In Italy, Uster Technologies introduces a solution suite combining instruments, data-enabled software, and textile expertise to lift quality and profitability. (Link)

• In India, menswear brand Celio ventures into the metaverse with Mumbai-based rapper Emiway Bantai. (Link)

🏀 Sports

• David Beckham quietly ditches a multimillion “global brand ambassador” deal with disgraced crypto firm DigitalBits. (Link)

• AI in the NFL: Helping prevent injuries and scouring draft class for future superstars. (Link)

• Virtual stadiums, powered by the metaverse, can be accessed through VR headsets or other devices for optimum sports viewing. (Link)

• Web3 and sustainability-savvy Adidas creates Move For The Planet, which will donate 1 Euro for every 10 minutes of movement between 1 June and 12 June. (Link)

• Here’s how AI in sports psychology can unlock athletic success. (Link)

🎥 Media & Entertainment

• Elon Musk's SpaceX hires 14-year-old Bangladeshi-American Kairan Quazi as a software engineer after university graduation. (Link)

• A film poster exhibition uses GPT tech to explore the possibilities of AI and film content creation. (Link)

• In web3, these Black musicians are changing the game and making their mark. (Link)

• TikTok launches a Script Generator tool in its Creative Center to generate video scripts based on user-provided AI prompts. (Link)

• NFTs meet cinema: Neo and Degenz.wtf partner with COZ to create an auction of NFTs linked to the film Shadow Brother Sunday. (Link)

• Short-form video app Tiki is set to cease operations in India. (Link)

🖼 Art

• Moment3! and AliExpress, the online retail platform of Alibaba Group, team up to launch NFTs. (Link)

• A historical dream team of five master sculptors trains AI to design a sculpture dubbed the Impossible Statue, now on show in a Swedish museum. (Link)

• Americana.io simplifies buying and selling authentic assets on the blockchain. (Link)

• Bloxies is a new NFT collection of 10K AI robots, fostering unity in the blockchain community. (Link)

• Journalist and former HELLO! Magazine exec editor Sangeeta Waddhwani presents Stories in Circles: A captivating art exhibition in Mumbai. (Link)

• Crypto exchange Binance's Nigerian unit was ordered to immediately halt operations in the country by the local SEC. (Link)

🤖 AI

• AI meets VR to keep the Holocaust memory alive. (Link)

• World-leading electronics manufacturers adopt NVIDIA generative AI and Omniverse to digitize their factories. (Link)

• AI identifies 3 more Nazca Lines figures in Peru, working 21 times faster than humans. (Link)

• Which jobs and industries will AI replace first? (Link)

• Google AI introduces the Secure AI Framework (SAIF) for ensuring secure AI systems. (Link)

• A Microsoft update for Bing AI chat enables voice chat on desktop, previously available only on Bing phone app. (Link)

💸 Funding & Partnerships

• UK-based Gensyn AI raises $43M in series A funding to create a decentralized ML compute protocol. (Link)

• Blankos Block Party partners with Amazon Prime and Prime Gaming for web3. (Link)

• The EU announces $8.7B (€8.1B) public funding for building microelectronics and communication tech. (Link)

• Enhancing metaverse integration: My Neighbor Alice joins the board of directors of OMA3. (Link)

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All content on this newsletter is for informational purposes only and does not aim to serve as or replace expert investment advice.

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