AI @ Noon | August 7

Chuck Schumer eyes opportunities to pass deepfake and AI bills as 2024 elections near: In an interview with NBC News, Schumer suggested deepfake election bills could hitch a ride on a funding bill, while AI national security bills could be linked to a big defense policy package.

Sens. Rounds, Heinrich offer bicameral bill to test AI for financial services: Inside AI Policy reports Sens. Mike Rounds (R-SD) and Martin Heinrich (D-NM) have unveiled bicameral legislation that would set up testing “sandboxes” at financial regulatory agencies to allow banks and other institutions to safely explore how AI could benefit consumers and the financial services industry.

MITRE urges government ‘red teaming’ of high-risk AI systems: Inside AI Policy reports the federal government should implement requirements for artificial intelligence “red teaming” to ensure AI products procured by agencies are secure, according to a memo from MITRE’s Center for Data-Driven Policy outlining AI security recommendations and advice for implementation.

‘The Godmother of AI’ says California’s well-intended AI bill will harm the US ecosystem Fei-Fei Li

Fortune: Monday’s stock market crash shows that the AI revolution isn’t quite here yet

A history-lover’s guide to the market panic over AI: 
Past technologies offer clues to what comes next. Economist

10 reasons why AI may be overrated Planet Money

When the AI bubble bursts: The boom in AI investment since ChatGPT’s launch has been accompanied by constant claims that the technology will transform our world. Will it? Will Dunn

Tencent + Alibaba have reportedly led a new funding round for Moonshot, a Chinese generative AI start-up, at a $3.3 billion valuation.

Yup, AI is basically just a homework-cheating machine: Two new reports confirm what we all know deep down: Lots of people are using Sam Altman's ChatGPT to "help" with their homework. BI

Fortune: Nvidia chip delays risk eroding its AI edge

Bloomberg: Super Micro's weak profit fuels AI server margin anxieties


+ Quarterly revenue, earnings miss analysts’ estimates

+ Company says it’s well-positioned to gain from AI investments

Enjoy the ride + plan accordingly.

-Marc