As the “AI arms race” continues to evolve, countries are increasingly beginning to realize the efforts they need to expend to stay relevant. One such country in the picture that’s stepping up its efforts is Britain. On Monday, November 25, British cabinet office minister Pat McFadden warned that Russian cyber criminals are increasingly targeting countries that support Ukraine, directing that Britain and its NATO allies must stay ahead in the AI arms race. He also stated that neither Britain nor its allies will be intimidated by Russian cyber threats to stop supporting Ukraine.
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The remarks, given at the NATO Cyber Defence Conference in London, also unveil Britain’s plans to set up a new Laboratory for AI (artificial intelligence) security to help create better cyber defense tools and organize intelligence on attacks. McFadden also emphasized businesses and institutions to do “everything they can to lock their digital doors” to protect themselves from what he called an increasingly aggressive Russia.
“While no one should underestimate the Russian aggressive and reckless cyber threat to NATO, we will not be intimidated by it and we will never allow it to dictate our decisions or policies. And we will do everything we can to defend our countries against it”.
McFadden will be sitting down with British businesses to discuss how they can boost their security in a few days.
In other AI news, lawyers for The New York Times and Daily News have revealed that OpenAI engineers accidentally deleted data potentially relevant to a case their company was being sued on. News publishers The New York Times and Daily News had filed a copyright infringement lawsuit against OpenAI. The legal proceedings required OpenAI to let the publishers look through its training datasets for any copyrighted content.
The search, which started on November 1st took a turn on November 14 when lawyers for the publishers alleged that search data stored on one of the virtual machines (after 150 hours of work) had vanished. While some data was recovered, it was without names and folder structure. The lawyers said it “cannot be used to determine where the news plaintiffs’ copied articles were used to build [OpenAI’s] models”.
“News plaintiffs have been forced to recreate their work from scratch using significant person-hours and computer processing time…The news plaintiffs learned only yesterday that the recovered data is unusable and that an entire week’s worth of its experts’ and lawyers’ work must be re-done, which is why this supplemental letter is being filed today”.
-Lawyers said in a letter filed in a US district court on Wednesday, November 20.
OpenAI has been facing multiple lawsuits from publishers related to copyright infringement, even though it stands firm that it only trains its AI models on publicly available data.
For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds.
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15. SoundHound AI (NASDAQ:SOUN)
Number of Hedge Fund Holders: 11
SoundHound AI (NASDAQ:SOUN) is a voice artificial intelligence company.
On November 21, SoundHound AI (NASDAQ:SOUN) and Apivia Courtage, an insurance company, announced that their collaboration to implement conservational AI agents has reached a significant milestone. SoundHound’s Amelia AI Agents have helped Apivia Courtage handle over 100,000 customer calls and reduce the number of inbound queries held directly by the company’s customer relations team by nearly 20%. The partnership, formed in 2023, has helped to field thousands of calls on areas such as medical expense reimbursement and information on insurance guarantee levels.
“Projects like this really show the incredible value AI and automation can deliver, not only to our customers, but also to their customers. With AI agents managing routine customer questions, Apivia Courtage’s employees are now able to focus on more rewarding and valuable aspects of their work. We’re thrilled to support them in delivering thousands of high-quality interactions.”
– Michael Anderson, EVP of Enterprise at SoundHound AI.
14. Bloom Energy Corporation (NYSE:BE)
Number of Hedge Fund Holders: 25
Bloom Energy Corporation (NYSE:BE) develops solid-oxide fuel cell systems for on-site power generation and is acting as a rising star in meeting the growing energy demands of AI data centers.
On November 22, Piper Sandler analyst Kashy Harrison raised the firm’s price target on Bloom Energy Corporation (NYSE:BE) to $30 from $20 and kept an “Overweight” rating on the shares. The firm finds the recent traction in gaining customers and less risk from changes in the Inflation Reduction Act “appealing”. Once things stabilize in the renewable energy market, companies like Bloom Energy could benefit from equity gains as it is one of the leaders in utility-scale equipment.