Latest AI News

OpenAI has launched a $50 million fund to support nonprofits and community organizations using AI for social good, particularly in education and healthcare. The initiative aims to help these groups leverage advanced AI tools to improve access and outcomes for underserved populations. This effort builds on OpenAI's existing support for nonprofits, including discounted access to tools like ChatGPT Team and Enterprise. Guided by input from the independent OpenAI Nonprofit Commission, the fund reflects the company's commitment to democratizing AI and ensuring its benefits reach all communities.

JPMorgan is expanding its research coverage to include private firms, particularly those backed by private equity and venture capital. This strategic shift responds to growing investor demand for insights into private companies, which are increasingly important in the financial landscape, especially in technology and healthcare sectors. The initiative aims to provide more comprehensive analysis to clients and position JPMorgan at the forefront of private company research, leveraging its extensive network and expertise.

Citi and Ant International have developed an AI-powered foreign exchange tool designed to reduce corporate hedging costs amid increasing currency volatility. Using Ant's Falcon TST Model and Citi's FX expertise, the system analyzes large datasets to optimize hedging strategies. In a pilot with an Asian airline, the technology reduced hedging costs by approximately 30%. The solution combines AI forecasting with tailored execution plans for each client's specific risk profile. Following this success, the companies plan to expand the offering to additional sectors with high FX exposure, including e-commerce and global retail.

Meta has recruited key Apple AI experts Mark Lee and Tom Gunter for its Superintelligence Labs team. They follow their former boss Ruoming Pang who recently joined Meta. The company is offering substantial compensation packages, with Gunter reportedly receiving over $100 million. These moves highlight Meta's aggressive AI talent acquisition strategy and investment plans, while raising questions about Apple's AI direction as it considers integrating third-party solutions into Siri.