5 Things about AI you may have missed today: Cohere CEO on GenAI, AI to fix accountant shortage, more

AI roundup: Know what Cohere CEO said about the future of generative AI, how AI tools will fix accountant shortage, and more.

Catch all the AI news of today, March 26, 2024. (Pixabay)

AI roundup: An AI startup named Fieldguide plans to overcome the accountant shortage problem by developing AI tools for auditing, fraud detection, and more. The company has already raised  $30 million in funds. In other news, Cohere CEO, Aidan Gomez talks about the future of generative AI in an interview with The Associated Press. Know more about such AI news of today, March 26, 2024. 

1. Fieldguide raised $30 million for developing an AI-based tool for accounting tasks

Fieldguide is planning to build an AI tool which will fulfil the requirements of accounting and it will also deal with problems related to accountant shortage. So far, the company has raised $30 million for its AI tool which will be able to perform several tasks such as auditing, fraud detection, compliance and forensic services, and other repetitive tasks. Former Ernst & Young consultant Jin Chang said, “Endless hours and the tedium of work is accelerating burnout among CPAs and they're quitting, but the rate of new CPAs coming into the profession is declining.” Hence, the AI tool will fill the gap according to a Bloomberg report. 

2. Cohere CEO, Aidan Gomez on the future of generative AI

In an interview with  The Associated Press, Cohere CEO, Aidan Gomez was about  AI language models and whether the company is building AGI (Artificial generative intelligence). While he denied the question, saying “No, I don't see it as part of my mission. For me, AGI isn't the end goal. The end goal is profound positive impact for the world with this technology.” When asked about “biggest public misconceptions about generative AI” Gomez replied  that “Technology coming and taking over and displacing us.”  To back the statement, Gomez said that the technology is going to be beneficial for us and tech giants are doing their best to eliminate the emerging risk, according to an AP report. 

3. G7 CR Technologies launched an AI apps program

A cloud and AI service provider company named G7 CR Technologies introduced an AI Apps Program for businesses to take advantage of the advanced technology. The program will allow businesses to know how AI can be used in their everyday business. Jesintha Louis, CEO at G7 CR Technologies said, “We believe that AI has the potential to transform businesses across industries, and our AI Apps Program is designed to make this transformation accessible and achievable for all,” according to an ANI report. 

4. Evolve Funds Group Inc. launched an AI exchange-traded fund (ETF) 

A Canadian asset manager company announced its exchange-traded fund (ETF) tool which is built with Artificial Intelligence (AI). The Evolve Artificial Intelligence Fund is built on the technology developed by Boosted.ai and the tool will own mega-cap technology stocks like Nvidia or Microsoft for AI solutions. Raj Lala, president and CEO of Evolve Funds Group Inc. said, “We'd been looking at the AI space for two years or so, and had investors asking us to put together an AI-themed product. This, surprisingly, seemed to be a space in the market that hadn't been filled,” according to a Reuters report. 

5. Microsoft Bing Chief resigns after Mustafa Suleyman joined as AI leader

As Mustafa Suleyman joined Microsoft Bing to lead its AI initiatives, the head of the company's Bing search engine, Mikhail Parakhin exits from the role. Now, it is reported that Parakhin is in search of new roles and opportunities. Now, Microsoft's consumer artificial intelligence division will be entirely headed by Suleyman which led to a serious shuffle within the company, according to a Bloomberg report.

One more thing! We are now on WhatsApp Channels! Follow us there so you never miss any updates from the world of technology. ‎To follow the HT Tech channel on WhatsApp, click here to join now!