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TechCheck

AI Deal Making Heats Up, Plus AI Election Impact 6/27/23

TechCheck

CNBC

Disruptors, Cnbc, Investing, Tech, Management, Business, Technology, Faang

4.566 Ratings

🗓️ 27 June 2023

⏱️ 7 minutes

🧾️ Download transcript

Summary

Data is the new gold in the generative AI race - and companies want to harness the power of their own data instead of giving it to ChatGPT or another software application. That idea may be behind a flurry of recent deals in the AI space. Plus, a panel of AI experts at the Aspen Ideas Festival, including Google DeepMind COO Lila Ibrahim, weigh in on whether they’re worried about how AI will impact misinformation in upcoming elections.

Transcript

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0:00.0

Amid all these warnings about a big tech pullback, AI

0:05.0

Deals and acquisitions are heating up.

0:07.7

That's the focus of today's Tech

0:09.0

with Dear Durbosa with an amazing live shot in Aspen, Haiti.

0:14.0

It is.

0:15.0

And there's no let down here, at least in terms of that conversation.

0:17.6

One of the themes this year at the Aspen Ideas Festival is Edge of Intelligence.

0:21.7

So discussions around harnessing generative AI's power as a

0:25.4

net benefit to societies. Plenty of talk about the downsides and risks as well.

0:29.2

But this is all taking place against a backdrop of continued dealmaking in the space.

0:34.2

Yesterday the Databrics 1.3 billion dollar acquisition of Mosaic

0:38.0

M.L. there's also the Snowflake Invidia Partnership that was announced

0:41.1

last night and there's Thompson Reuters purchase

0:43.6

of case text that is a Y-combinator-backed startup that it's CEO the

0:47.5

Thompson Reuters CEO called another step in our build partner and buy strategy to

0:51.9

bring generative AI solutions to our customers.

0:55.2

Now, NVIDIA CEO Jensen Huang, he framed the Snowflake partnership as a shift in

1:00.5

how companies are starting to think about their own data in the generative

1:04.4

AIH. He said that in the old days you moved data to the computer but when you have

1:09.1

giant amounts of data like Snowflake does and it is proprietary that is so valuable to a company

1:15.6

then you move the compute to the data. Frank Slutman put it this way.

1:20.0

He said they used to say software is eating the world, well now data is eating software.

...

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