5 things about AI you may have missed today: UPI payments through AI, UK hires expert for AI summit and more

As countries establish regulations around the use of artificial intelligence (AI), developments in the field continue at a rapid pace. RBI on Thursday proposed a new way of carrying out UPI transactions - through conversations with AI. On the other hand, the UK hired a tech expert for the summit on generative AI.

All this, and more in our AI roundup today.

1. Now make UPI payments through AI conversation

UPI payments through AI conversation could soon become a reality as the Reserve Bank of India on Thursday proposed to introduce this service. According to a report by ANI, Conversational Payments would allow users to make UPI payments by engaging in a conversation with an AI-powered system. During the Monetary Policy Committee (MPC) meeting, RBI Governor Shaktikanta Das said, “Incorporating conversational payments into UPI will empower users to interact with AI systems for executing payments.”

2. Britain hires tech expert to spearhead AI summit

With growing debates about the regulation of artificial intelligence (AI) and its merits and demerits, Britain hired a tech expert and a diplomat who are expected to spearhead its summit on AI on Thursday. According to a Reuters report, CEO of Entrepreneur First Matt Clifford and former diplomat Jonathan Black will lead Britain’s AI summit when it takes place during the autumn. Clifford said, “You can think of this as a genuine summit - where there will be really crunchy discussions happening - to try to agree on a shared understanding of the risks, and as a platform for working together on mitigating them.”

3. CIE IIIT Hyderabad hosts summit on generative AI

The Centre for Innovation and Entrepreneurship (CIE) at the International Institute of Information Technology Hyderabad (IIIT) organized a high-tech summit jointly with THub and Nasscom DTC on August 9 with generative AI being the topic. The event saw 20 curated startups present their generative AI solutions while 10 tech leaders from Goldman Sachs, Wells Fargo, and more, also debated the uses of this technology in the enterprise tech sector, according to the release.

4. Lookout introduces generative AI assistant for cybersecurity operations

Cloud security company Lookout announced the launch of its generative AI assistant designed to combat cyber threats on Thursday. According to the release, Lookout SAIL focuses on security education, platform navigation, and security telemetry analysis. “This gen AI assistant serves as a valuable companion, offering insights and assistance to users, ultimately streamlining tasks such as administration, policy creation, incident response and threat hunting.” Lookout claims this technology can help companies leverage the power of artificial intelligence to combat evolving cyber threats.

5. Chinese chipmakers invest in legacy chip manufacturing tech

As the AI industry continues to rise, chipmakers in China have started buying legacy manufacturing tech amidst US tightening restrictions around exports. According to a Bloomberg report, Tokyo Electron Ltd is gaining strong investment in China. Although the growth in demand for AI training chips has not yet proven to be profitable for chip makers, it could start contributing to their annual earnings starting next year, said Hiroshi Kawamoto, head of Tokyo Electron’s finance unit.