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In Latest Tech Last updated: June 30, 2023
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Billions Are Flowing Into AI Tech

The AI technology sector is currently experiencing significant growth. In the past week, notable companies such as Dropbox Ventures, Amazon, Salesforce Ventures, etc., have made substantial investments, amounting to billions of dollars, in the AI sector.

Image credit: analyticsinsight

Dropbox Ventures is particularly interested in supporting startups that focus on developing AI-powered products that shape the future of work, announced a $50 million venture fund. 

Amazon Web Services have initiated a program worth $100 million to fund generative AI initiatives led by its partners and customers.

Salesforce Ventures has outlined plans to invest $500 million in startups dedicated to developing generative AI technologies.

To support the growth of AI and machine learning startups, Workday has recently infused an additional $250 million into its existing venture capital fund.

Accenture and PwC have made significant announcements regarding their investment intentions in the AI field, with Accenture planning to invest $3 billion and PwC allocating $1 billion, respectively. 

Inflection Debuts Its Own Foundation AI Model to Rival Google and OpenAI LLMs

Inflection, a company backed by LinkedIn and DeepMind co-founders, has secured significant funding of $225M to revolutionize computer-human interactions.


The company has introduced its internally developed language model, called ‘Inflection-1.’ This powerful LLM is the driving force behind and will soon be accessible through a conversational API. Inflection-1 has undergone extensive training on large datasets using NVIDIA H100 GPUs.

Inflection has revealed its inaugural product, Pi, an AI personal assistant. Pi is designed to be a friendly and supportive companion, engaging in conversations, providing friendly advice, and delivering concise information in a natural manner.

Comparable in size and capacity to GPT-3.5, Inflection-1 competes with and potentially outperforms other models in its category. The company substantiates this claim with a technical memorandum that compares benchmarks of various models, including GPT-3.5, LLaMA, Chinchilla, and PaLM-540B.”

YouTube Integrates an AI-Powered Dubbing Tool

YouTube has introduced a feature for the incorporation of multi-language audio tracks, providing creators with the opportunity to include dubbing in their new and existing videos, thereby expanding their reach to a broader international audience.

Image credit: theverge

Currently, YouTube is testing a new tool that employs artificial intelligence to aid creators in automatically dubbing their videos into different languages.

In collaboration with Aloud, an AI-based dubbing service developed within Google’s internal incubator Area 120, YouTube is exploring this new functionality.

TechCrunch reports that over 10,000 videos in 70+ languages have been dubbed by creators using Aloud. It saves them time and money compared to engaging external dubbing providers.

  • Satish Shethi
    I have been in the IT industry for more than 20 years. I have served Fortune 100 company in a senior role looking after projects related to US Banking, BFS, Mortgage, Insurance, and FMCG. Apart from IT, I like to read books, especially spirituality… read more
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