Global IT Havoc, AI Policy Overhauls, and Innovative AI Models

Happy Friday, AI Enthusiasts!

In today’s edition: 

• World Faced "Biggest IT Fail Ever” this Week

• AI Policy Revolution: Trump Allies’ Plans for U.S. Tech and Military Advances

• Advanced AI Develops Unique 'Fingerprints' for Material Identification

• GPT-4o Mini: OpenAI's New AI Model Enhances Efficiency and Affordability

- Naseema Perveen

WHAT CAUGHT OUR ATTENTION MOST

World Faced "Biggest IT Fail Ever,” Says Musk; Microsoft Issues Guidance, July 19

Tesla and X boss Elon Musk claims the world faced the “biggest IT failure ever.”

Microsoft outage creates worldwide havoc. CrowdStrike has confirmed that the faulty software update has been addressed, but it might take "some time" before all systems are fully operational, again. According to reports, the repair process could extend over several days, with Microsoft advising users to reboot their devices up to 15 times to help resolve issues. 

The disruption has been extensive: over 1,300 flights have been canceled, and many others are facing delays. Sky News was off-air for most of the morning due to technical problems, and Australia's ABC experienced six hours of operational difficulties. In the UK, essential services including trains, payment systems in shops, pharmacies, and GP surgeries have been affected, although Morrisons has reported that its earlier issues have been resolved. 

CrowdStrike CEO George Kurtz has issued a heartfelt apology for the widespread disruption caused by this glitch. Shares of CrowdStrike have dropped nearly 15% on the Nasdaq stock exchange in New York, erasing approximately $12.5 billion from the company's market value. A few examples of where this outage has caused issues:

• Travel: Airlines worldwide faced delays and cancellations as booking and check-in systems failed, leading to long queues and missed flights.

• FSI: Financial institutions struggled with transaction processing and online banking, causing frustration and temporary disruptions for customers.

• Consumer Goods: Retailers and service providers saw point-of-sale and back-end system outages, impacting sales and internal operations.

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KEEP YOUR EYE ON IT

Advanced AI Develops Unique 'Fingerprints' for Material Identification

AI researchers have developed an innovative method to create material 'fingerprints' using artificial intelligence, allowing precise identification and characterization of materials at a molecular level. This technique leverages advanced algorithms to analyze unique properties and behaviors, leading to more accurate and efficient material analysis. 

The advancement is expected to revolutionize fields like materials science, chemistry, and engineering by enabling better understanding and tailoring of materials for specific applications. 

AI Policy Revolution: Trump Allies’ Plans for U.S. Tech and Military Advances

Allies of former U.S. President Donald Trump are reportedly drafting sweeping executive orders to establish the U.S. as a leader in artificial intelligence. These proposed orders could reshape AI regulation by introducing new standards for data privacy and ethical considerations, while also enhancing military AI applications to maintain a competitive edge. 

If enacted, these changes could have a major impact on both the regulatory framework and the integration of AI in defense strategies.

GPT-4o Mini: OpenAI's New AI Model Enhances Efficiency and Affordability, July 19

OpenAI has released the GPT-4o mini model. This new model is designed to be more cost-efficient and targeted towards app developers. The GPT-4o mini offers significant improvements over previous models like GPT-3.5 Turbo, boasting better performance in textual and multimodal reasoning tasks.

It features a context window of 128,000 tokens and supports up to 16,000 output tokens per request, making it suitable for applications requiring extensive context handling and real-time interactions. The model is available to ChatGPT Plus, Team, and Free tier users, with enterprise access starting soon.

🎤 VOICE YOUR OPINION

ICYMI

• The data that powers A.I. is disappearing fast.

• This week, AIVR 2024 is taking place in Fukuoka, Japan, from July 19-21. 

• Google, OpenAI, Microsoft, and Amazon team up to develop ‘secure-by-design’ AI solutions.

• Meta Joins Apple in Limiting AI Products in EU Amid Regulatory Concerns.

MONEY MATTERS

• CrowdStrike shares have plunged nearly 15% on Nasdaq, wiping out about $12.5 billion in value.

• The AI market is expected to grow at a compound annual growth rate (CAGR) of 37.3% from 2023 to 2030.

• Netflix’s revenue +17% to $9.6B in Q2, subscribers +8M to 278M

HISTORIC TECH DISRUPTIONS

• Microsoft Exchange Server Outage (2021): A widespread issue affected email services globally due to vulnerabilities exploited by cybercriminals.

• Facebook/Meta Outage (2021): A major outage disrupted Facebook, Instagram, and WhatsApp services for several hours, highlighting the interconnected nature of modern communication platforms.

• JBS Ransomware Attack (2021): The ransomware attack on JBS disrupted meat processing operations worldwide, leading to supply chain issues and increased prices.

LINKS WE’RE LOVIN’

✅ Podcast: Lex Fridman and Aravind Srinivas, CEO of Perplexity discuss the Future of AI, Search, and the internet.

✅ Help guide: Find out if your online accounts have been hacked.

✅ Course: Machine Learning Specialization by Andrew Ng, Geoff Ladwig, Aarti Bagul, and Eddy Shyu.

✅ Whitepaper: Find out how AI Chatbots Improve Your Business processes.

✅ Watch: Samsung Galaxy Ring Review by Marquees Brown.