AI roundup, April 25: Meta CEO Mark Zuckerberg announced the expansion in AI investment to stay ahead of competitors such as Google, Microsoft, and other tech giants. The company also assured investors of monetisation opportunities. In other news, Duolingo highlighted that one of the reasons for their layoffs was AI adoption. Know more about what happened in the world of AI.
Meta CEO Mark Zuckerberg revealed that the company will spend billions of dollars to join the AI race with tech giants Microsoft, Google, and OpenAI. Chief Financial Officer Susan Li said in a statement, “We expect capital expenditures will continue to increase next year as we invest aggressively to support our ambitious AI research and product development efforts,” according to a Bloomberg report.
Duolingo, the language learning platform recently announced the layoff of 10 percent of its contractor workforce. However, in a recent Forbes report, the company shared that one of its reasons for layoffs was AI. The company said, “AI is a tool we’re using to accelerate our product development and make learning with Duolingo more engaging and effective. There are some jobs like translation work where AI is a powerful substitute.”
Tata Consultancy Services chief executive, K Krithivasan highlighted that with the growing use of AI, there will be less need for call centres. It was further highlighted that the technology could revamp requirements for how customer help centres function. Krithivasan said, “In an ideal phase, if you ask me, there should be very minimal incoming call centres having incoming calls at all,” according to a Financial Times report.
Chief information officers by Lenovo Group Ltd. conducted a survey which revealed that IT leaders and businesses worldwide are not ready for AI technology. Several companies do not have corporate policies on ethical use and 42 percent said that they do not expect to earn returns on AI investments. Ken Wong, president of Lenovo’s Solutions and Services Group said, “This is driven by the clear promise of AI adoption combined with the pressure that IT leaders face to prove the value of these investments,” according to a Bloomberg report.
XPeng, a Chinese electric vehicle (EV) maker revealed that it will significantly improve and update the software and AI features for a "super fast cycle" of upgrades starting in May. It was highlighted that the software will be upgraded every 2 months to provide fresh features. He Xiaopeng, founder and CEO of the automaker backed by Germany's Volkswagen, said, “This year, I believe XPeng will far surpass all of China's autonomous driving technology rivals,” according to a Reuters report.
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