The Scottish GovTech Cluster’s Post

#meity - MeitY approval must for companies to roll out AI, generative AI models In a significant development, on 3rd March 24, the Ministry of Electronics and Information Technology (#MeitY) of India announced that companies deploying Artificial Intelligence (#AI) and Generative AI (#GenAI) models must now obtain prior approval from the ministry. Here are some clarifications : 1) Advisory is aimed only at significant platforms and permission seeking from MeitY is only for large platforms, not startups. 2) Advisory is aimed at untested AI platforms from deploying on the Indian internet

Good News from Finland published an interesting article about Finnish companies generating AI innovations: https://lnkd.in/dtBQrqN9 Such stories are great to read. And best of all, we've been able to join in by providing them with a world-class AI platform, LUMI supercomputer. If, after reading this article, you want to speed up the development of your AI innovation, feel free to contact us SupercomputingForBusiness@csc.fi #ai #supercomputing #LUMI #supercomputingforbusiness #artificialintelligence

Welcome back to another week of exciting AI updates! Our goal is to keep you informed with the latest in AI every week. If you haven’t subscribed yet, please do so to support us. Click the link below for this week's updates! https://lnkd.in/epmDd_TW #dshgsonic #newsletter #artificialintelligence #innovation #ai

AI is set to increase global GDP by 10% over the next decade. Ahead of #aiPULSE 2024, Frédéric Bardolle and Constance Morales explore why #AI is going Big, Efficient, and Open in this exclusive blogpost. Check it out 👉 https://ow.ly/E5WL50TB7Gb

Today I read a short but interesting article about GenAI:  https://lnkd.in/d4DUMSpn Two moments that shocked me the most are: 1/ Google Cloud’s director of AI/ML and generative AI, Miku Jha, estimated that in only about 15% of AI adoptions does he organizations have a clear idea of what it wants to accomplish using GenAI. 2/ Only in about 5% of cases, Jha suggested, will GenAI projects lead to significant monetization of new product offerings. This brings me to the conclusion that it's always a good idea to start not from solution side, but from problem one. Also often novelty solution is not the best one. #genai #monetization

Business spending on AI surged 500% this year to $13.8 billion, says Menlo Ventures Sopa Images | Lightrocket | Getty Images Business spending on generative AI surged 500% this year, from $2.3 billion in 2023 to $13.8 billion, according to data released by Menlo Ventures on Wednesday. The report also found that OpenAI ceded market share in enterprise AI, declining from 50% to 34%. Anthropic doubled its market share - https://lnkd.in/gEayjd2z

How are small and medium enterprises approaching artificial intelligence? 🤖 Nearly 63% of IT professionals we surveyed say that their organizations already have a policy around AI. Discover how real organizations like yours are planning to leverage this new technology: https://lnkd.in/eh-gwXdn

Big news and growth ahead for team MakinaRocks!! #Analytics #DeepLearning #DataMining #ArtificialIntelligence #NeuralNetworks #PredictiveAnalytics #DataDriven #DataInsights #DataVisualization #BusinessIntelligence #AIResearch #AIOptimization #MachineIntelligence #DataEngineering #DataStrategy #DataModeling #CloudComputing #IoT #DigitalTransformation #TechInnovation #DisruptiveTechnology #EmergingTech #FutureTech #TechTrends #Industry40 #SmartTech #TechNews #TechCommunity #Teamwork #Partnership #CoCreation #OpenInnovation #IdeaGeneration #ProblemSolving #Creativity #ChangeMakers #TechLeadership #mlops #machinelearning #manufacturing

"Only about 5% of GenAI projects lead to significant monetization" As stated by a recent Stackoverflow's blog post, most of GenAI initiatives never actually make it into production. According to a Harvard Business Review article there could be three main reasons for that: 1️⃣ Companies are still figuring out the previous generation of AI tools. Plenty of companies are still figuring out how to integrate “traditional AI” (that is, non-generative AI; tools like machine learning and rule-based algorithms) into their business operations. 2️⃣ GenAI is designed for very specific use cases. GenAI is not only much more complicated than traditional AI; it’s also designed for highly-specific use cases. Business cases for GenAI are not necessarily easy to find, and GenAI won’t always deliver benefits worth the cost. 3️⃣ We don’t know what we don’t know. The long-term implications of GenAI, including costs and the effects of regulation, are still unknown. Sources: https://lnkd.in/dgUt8Ds4 https://lnkd.in/ddPcg4Tv #GenAI #stackoverflow #AI

Canada is pioneering AI innovation with the Pan-Canadian AI Strategy! Discover why it’s an ideal destination for AI investments. Learn how its focus on research, industry collaboration, and ethical AI is shaping the future. #AICanada #TechInvestment #PanCanadianAIStrategy #InvestInAI https://buff.ly/3UItuEW #ArtificialIntelligence #Innovation #AICanada #TechInvestment #PanCanadianAIStrategy #CanadaAI #InvestInAI