Generation AI: Navigating Risks and Regulations in the Tech World

OWITH.ai - Only What's Important to Hear around AI and Tech

Good morning from OWITH.ai: the podcast that gives you only what's important to hear in the AI and tech world.Teens are more concerned about AI risks than climate change and social inequality, according to a survey. They are using AI tools regularly for various purposes, such as homework and entertainment. The majority of teens believe that government regulation is necessary to address AI risks, including concerns about misinformation, privacy violations, and AI taking over. The impact of AI on teenagers, also known as "Generation AI," is significant as they navigate a world that is rapidly changing due to technological advancements. The survey results highlight the need for understanding and regulation of AI to protect young people from potential negative consequences. Recent developments in the AI industry include openAI facing challenges in developing advanced general AI models and companies experimenting with AI-generated ads. Overall, the focus is on the importance of addressing AI risks and ensuring responsible use of technology to safeguard the well-being of teenagers in today's digital age.Moving on to the next news, Portal Ventures, a pre-seed crypto venture fund, has raised an oversubscribed $75 million fund with prominent investors such as Chris Dixon and Marc Andreessen. The fund focuses on early investments in blockchain and crypto companies. The success of their first fund during the crypto winter led to the raising of a second fund, continuing their focus on pre-seed investments. They are exploring opportunities in tokenizing dormant asset classes and staying ahead of trends in the rapidly changing crypto industry. Recent venture deals and acquisitions across various industries showcase continued interest in investing in startups and supporting growth and innovation. Funds like Bek Ventures and Founderful raised significant amounts for investing in early-stage technology companies. New hires at Planven and TDK Ventures indicate growth within their organizations. The newsletter provides a comprehensive overview of recent fundraising activities in both the venture capital and private equity sectors, highlighting ongoing interest in blockchain and crypto investments, as well as opportunities for growth and innovation across different industries.In other news, AMD is cutting 4% of its workers to focus more on AI chips, with CEO Lisa Su aiming to close the gap with industry leader Nvidia. Polymarket's CEO is under FBI investigation for allowing US-based users to place bets during the recent presidential election. Apple is set to release a wall display for smart homes and communication purposes. Volkswagen is increasing its investment in Rivian to $5.8 billion, reflecting the need for cash by Rivian and VW's desire for digital-first car designs. Chinese company CATL plans to expand into electric grid energy storage and power generation. Amazon's ultra-discount rival, Perplexity, brings ads to its platform, while OpenAI suggests US allies partner on AI to compete with China.Lastly, President-elect Donald Trump, with Republicans winning control of the house, will be focusing on reducing regulation and taxes as part of his business agenda. Extending consumer tax cuts could reduce revenue by $4 trillion over the next decade. Former economic advisor Gary Cohn believes it will stimulate investment and economic growth. CEOs will be pressured to invest in areas like manufacturing, requiring changes on the ground and help at the state and local level. Economist Abby Joseph Cohen raised concerns about Trump's executive order known as Schedule F, which could bring political appointees into government instead of domain experts. Stay tuned for Senate hearings on Trump's cabinet picks. In other news, Tapestry CEO

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