5 things about AI you may have missed today: Bing AI gets election info wrong, AI risk to financial systems, more
Today, December 15, the artificial intelligence space was filled with twists and turns, and the familiar foe of emerging technology, AI hallucination, has made a comeback. In the first incident, Microsoft’s AI chatbot Bing AI made a major blunder while answering questions on elections in Germany and Switzerland. In other news, the US Financial Stability Oversight Council has found that the rapid adoption of AI can pose new risks for the financial system of the country. This and more in today’s AI roundup. Let us take a closer look.
Microsoft’s Bing AI wrongly answers election questions
Research from European nonprofits AI Forensics and AlgorithmWatch indicates that Microsoft’s Bing AI chatbot, now called Microsoft Copilot, provided inaccurate answers to 1 in 3 basic questions about elections in Germany, Switzerland, and the 2024 US elections, reported the Wall Street Journal. The findings suggest that AI chatbots may contribute to confusion and misinformation in elections. This is yet another instance of AI hallucinations which comes shortly after Bing AI gave an erroneous response about the war between Israel and Palestine.
US council warns of AI risks in the financial system
A U.S. regulatory panel, including Treasury Secretary Janet Yellen, warns that the widespread use of AI in finance could pose risks to the financial system if not closely monitored, reported Reuters. The Financial Stability Oversight Council, in its annual report, acknowledges the potential benefits of AI for efficiency but emphasizes the importance of careful supervision by both financial firms and regulators due to the fast-paced nature of AI advancements.
Appy Pie introduces no-code AI app
Appy Pie, a no-code AI app development platform, is simplifying AI-powered app development for businesses and individuals, according to a release. By leveraging AI, the platform offers an intuitive app builder that enables the creation of complex applications without extensive coding knowledge. The goal is to make AI capabilities accessible to a broader audience, allowing users to craft powerful and customized applications tailored to their needs.
“Our latest advancements in no-code AI app development reaffirm our commitment to democratizing cutting-edge technology and making it possible for anyone to create an app without the hassle of traditional coding. We believe in making technology accessible and affordable to all, and this innovation is a testament to that vision,? said Abhinav Girdhar, Founder, and CEO at Appy Pie.
Ola takes a ?made in India? approach with Krutrim Si Designs
Krutrim Si Designs, an AI venture by Ola cofounder Bhavish Aggarwal, has unveiled its first family of multilingual AI models called Krutrim, reported Moneycontrol. The models come in two sizes: a base model trained on 2 trillion tokens and a more complex Krutrim Pro for advanced problem-solving, launching next year. Aggarwal demonstrated an AI chatbot powered by Krutrim, capable of understanding 22 Indian languages and generating text in 10 Indian languages. The Krutrim team is based in India and the Bay Area (US).
Instabase Unveils AI Hub
Instabase, a firm in Applied AI, has unveiled its latest innovation, the Instabase AI Hub, reports ANI. The company, known for assisting major financial and insurance firms in extracting insights from complex unstructured data, aims to extend its capabilities to organizations of all sizes with the launch of Instabase AI Hub Commercial. This expansion is expected to benefit individual users, small and medium businesses (SMEs), and enterprises in India
