Daily Digest: The wrong path ahead

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Daily Digest #285

Hello folks, here’s what we have today;

PICKS

  1. Responsible Innovation Lab - One more AI protocol. Investor Hemant Taneja (General Catalyst) has founded Responsible Innovation Labs with support from 35 VC firms with a protocol for responsible AI development. Though, Hemant and the firms on the list are now getting roasted left and right.🍿Our Nuanced Summary (also below)

  2. Airbnb has acquired an AI startup called Gameplanner AI for just under $200 million in its first acquisition as a public company. Gameplanner AI was founded in 2020 by Adam Cheyer, a Siri co-founder, and has been operating in stealth mode.🍿Our Summary (also below)

  3. oh! And new ChatGPT plus subs are paused for a while. Open AI is suffering from success.

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WHO’S HIRING IN AI
NEWS
QUICK BITES

Investor Hemant Taneja (General Catalyst) has founded Responsible Innovation Labs with support from 35 VC firms with a protocol for responsible AI development. Though, Hemant and the firms on the list are now getting roasted left and right.

What is going on here?

A new non-profit has popped up to create the “framework for regulating AI”.

What does this mean?

The introductory protocol put forward by RIL has 5 key action steps:

  • Secure organizational buy-in on responsible AI

  • Foster trust through transparency

  • Forecast AI risks & benefits

  • Audit and test to ensure product safety

  • Make regular and ongoing improvements

Why should I care?

Let’s get away from the X drama about “Oh! the list of VCs to not raise from has dropped” or “It’s a play to get in the good graces of old geezers”. That might be true, but as Balaji points the firms and Hemant are all respected, doing great work across different things. The primary problem is with the same limiting approach to testing and auditing, vague definitions and the general lack of tech-optimism.

QUICK BITES

Airbnb has acquired an AI startup called Gameplanner AI for just under $200 million in its first acquisition as a public company.

What is going on here?

Airbnb's acquisition of Gameplanner AI signals the company's increased focus on leveraging AI to enhance the user experience.

What does this mean?

Gameplanner AI was founded in 2020 by Adam Cheyer, a Siri co-founder, and has been operating in stealth mode. The deal valued the startup at close to $200 million. The acquisition will accelerate some of Airbnb's AI projects, likely around using AI as a personalized travel concierge that learns users' preferences.

This acquisition aligns with CEO Brian Chesky's vision to incorporate AI that acts as a virtual assistant enhancing Airbnb experiences. The deal is Airbnb's first acquisition since 2019 and may generate interest on Wall Street regarding potential shifts in the company's M&A strategy.

Why should I care?

Generative AI is creeping into (for good) every big company. Chesky is extremely bullish on the future of the tech, saying AI could better match customers with their perfect rentals. AirBnB recently launched an AI-powered photo tour tool that helps hosts sort their listing images. Expect more such tools to come to the platform soon.

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