🖥️ Tech Futures #3

Happy Monday 👋

The technology landscape is marked by rapid advancements and strategic shifts. Open-source AI continues to evolve, with LG being the latest tech firm to release a new model. Meanwhile, AI integration into business operations is gaining traction, as evidenced by Kolon Benite's CoiBot and IBM's Watsonx. Geopolitical factors and economic conditions influence the broader tech ecosystem. China's expansion in networking and semiconductor manufacturing, coupled with collaborations like the 5.5G network launch with Huawei, positions the country as a key player. The AI and quantum computing frontier sees advancements in both commercial and government applications. Google DeepMind's Gemma Scope improves AI model interpretability, while Terra Quantum secures a US Air Force contract for secure communications. Conversely, Intel's job cuts are the latest round of layoffs among tech firms, a persistent trend over the past year.

🤖 AI Advancements

🤖 LG Group launched its first open-source AI model, EXAONE 3.0, in Korea. Developed by the LG AI Research Institute, the model outperforms competitors like Meta's Rama 3.1 and Google's Gemma 2, and is expected to be integrated into various fields and with partnerships with academia and startups.

🤝 Kolon Benite launched CoiBot, a Generative AI service for in-house executives and employees. CoiBot, a business tool, offers detailed information on regulations, welfare, and personnel systems, reducing misinformation and enhancing efficiency in HR and other business functions. It is set to expand across Kolon Group after a successful beta test.

🔧 IBM added Meta's Rama 3.1 and Mistral AI's Mistral Large 2 to its Watsonx platform. This would offer powerful, open-source AI options for diverse needs, with Watsonx allowing flexible deployment across infrastructures for fine-tuning and optimization. However, Intel plans to cut 15,000 jobs. They also plan to halt non-essential projects to boost profits and compete with Nvidia and AMD, following a $1.6 billion Q2 loss and a 20% share price drop.

💡 China’s Tech Advancements

🌐 China Unicom Beijing and Huawei deployed a commercial 5.5G network. This covers 70% of Beijing's 4th Ring Road, supporting services like immersive video and cloud gaming and ensuring compatibility with current 5G applications and devices.

💾 Malaysia and China pursue closer cooperation on semiconductors. They aimed to develop Malaysia's chip industry at a joint industry event in Kuala Lumpur as Beijing strengthened its own supply network.

🔋 FutureTech

🧠 Google DeepMind introduced Gemma Scope. This new toolkit enhances interpretability of its Gemma 2 models. Built on JumpReLU sparse autoencoders, it aids researchers in understanding decision-making processes of large language models.

✈️ Swiss startup Terra Quantum has been awarded a US Air Force contract. They will develop an ultra-secure communication network using post-quantum cryptography, quantum key distribution, and quantum random number generators.

🤝 NASA and UC Berkeley partnered for a three-year agreement. NASA will host Berkeley's supercomputing resources at NASA's Ames Research Center, aiming to develop new algorithms and software across various scientific fields and facilitate knowledge exchange.

💰 Deals of the Week

🔒 Abnormal Security, a CA-based company closed its Series D funding at $250M, at $5.1 Billion valuation. The company is planning initiate the use of the funding  to continue to expand operations and its development efforts.

💰 Contextual AI, a CA-based startup, raised $80M Series A funding round. The company is to expand its development efforts through the funds.

📈 Octane, a NYC-based company raised $50M in Series E funding. Octane is to use to  to use the funds to accelerate its expansion into new markets and expand its growth in existing markets.

🤖 Seeq, a WA-based company specializing in industrial analytic raised $50M in Series D funding intended to use the funds to expand operations and its development efforts.

💵 Salesforce acquired PredictSpring, a cloud-based PoS software vendor, for an undisclosed amount to increase the current Customer 360 capabilities, aiming to get a stronger hold in the retail industry.

Thank you for reading. Have a great week ahead!
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