Welcome to another edition of AI Cohort! As we navigate an era defined by rapid technological progress, artificial intelligence is more than just a buzzword - it's a transformative force reshaping industries and driving innovation. Here’s a summary of the latest developments setting the stage for the future of AI.

Meta Launches Metamate: An Internal AI Powerhouse for Enterprise Productivity

Meta has introduced Metamate, an innovative internal AI tool designed to enhance employee productivity and explore the potential of AI in business applications. This development marks a significant step in Meta's strategy to expand its presence in the enterprise AI market.

Meta aims to create "the world's best enterprise assistant" while enhancing operational efficiency.

• Built on Meta's Llama model and integrated with OpenAI's GPT-4

• Assists with coding, research, and drafting communications

• Facilitates access to internal data and prepares employees for client interactions

• Streamlines workflows and summarises documents

Google Unveils Veo and Imagen 3: Next-Gen AI for Video and Image Creation

Google has launched two innovative generative AI models, Veo and Imagen 3, on its Vertex AI platform, aimed at enhancing content creation for businesses.

• Veo: This model allows users to generate high-definition videos (1080p) from text or image prompts. It supports various cinematic styles and can transform static images into dynamic videos. Veo is currently in private preview, making Google the first major cloud provider to offer an image-to-video model at this scale.

• Imagen 3: Set to be available to all Google Cloud customers next week, this model generates photorealistic images with improved detail and fewer artifacts compared to previous versions. It allows for customisation, enabling businesses to incorporate their branding elements into generated content.

Both models feature built-in safety measures, including digital watermarking and content filters, to mitigate risks associated with harmful content and copyright issues.

Meta Launches Llama 3.3 70B: High Performance at a Fraction of the Cost

Meta has introduced its latest AI model, Llama 3.3 70B, which offers performance comparable to the larger Llama 3.1 405B model but at a significantly reduced cost. Key Features include:

• Performance: With 70 billion parameters, Llama 3.3 matches the quality of its larger counterpart while being one-fifth of its size, making it a cost-effective choice for developers.

• Speed: The model processes up to 276 tokens per second, ensuring efficiency for real-time applications.

• Enhanced Functionality: It supports multilingual capabilities and excels in coding, instruction-following, and tool usage, with improved JSON outputs and error handling.

Llama 3.3 70B is now available on platforms like GroqCloud and IBM's watsonx.ai, making powerful AI tools more accessible for developers and businesses alike.

MHRA Launches AI Airlock Pilot to Transform Medical Device Regulation

The Medicines and Healthcare products Regulatory Agency (MHRA) has initiated the AI Airlock pilot scheme to test five innovative AI technologies aimed at enhancing regulatory approaches for medical devices. This initiative seeks to expedite the safe introduction of AI solutions into healthcare.

Selected Technologies for the pilot includes:

1. An AI device targeting patients at risk of COPD

2. An AI system to improve cancer care efficiency

3. An AI tool for summarising radiology reports

4. A federated AI monitoring service for real-time performance tracking

5. An AI-powered system for personalised cancer management plans

Chromia’s Asgard Upgrade: Ushering in a New Era for DeFi and AI

Chromia has launched its Asgard Mainnet Upgrade, a pivotal development that enhances its Layer-1 relational blockchain for Decentralised Finance (DeFi) and Artificial Intelligence (AI).

Key Features

• Chromia Extensions Framework: A modular system that allows developers to add specialised functions, improving the blockchain’s core capabilities and offering a gas-free experience for users.

• Oracle Extension: Provides real-time, on-chain price feeds updated every second, supporting advanced DeFi applications like decentralised exchanges and lending protocols.

That concludes this edition! Be sure to stay tuned for more updates and insights in the upcoming newsletters. Thank you for reading the AI Cohort Newsletter!