Onit, a leading provider of AI-powered workflow solutions for the legal industry, has launched ReviewAI, a groundbreaking product that leverages generative AI to automate contract management processes. This latest release signifies Onit’s commitment to AI innovation, with three more AI-driven products planned for release in 2024.
Salesforce CEO Marc Benioff announced a major shift towards autonomous AI agents called Agentforce, aiming to automate customer service tasks and stay competitive in the rapidly evolving generative AI landscape. This move comes after pressure from industry players like Andreessen Horowitz, who questioned Salesforce’s ability to adapt to the AI revolution. Benioff emphasizes a ‘beginner’s mind’ approach and highlights Salesforce’s existing AI investments and strategic acquisitions as key to navigating this transformation.
Accenture and Unilever have announced a strategic partnership to revolutionize Unilever’s digital infrastructure and leverage the power of generative AI for enhanced efficiency and agility across its global operations. The multi-year program aims to set a new industry benchmark for productivity powered by generative AI, building upon Unilever’s successful initial AI implementations.
Singapore-based game developer Winking Studios has unveiled GenMotion.AI, a generative AI tool designed to simplify and enhance animation creation for game designers and animators. This innovative technology allows users to generate high-quality animations using natural language text prompts, streamlining the development process and making animation accessible to both professionals and amateurs. GenMotion.AI is powered by copyright-protected training data and has been audited by a renowned law firm to ensure its security and compliance with international laws.
Nvidia has made a significant investment in Sakana AI, a Japanese startup specializing in small-scale generative AI models. This strategic move signifies Nvidia’s commitment to advancing AI technology and fostering its adoption in Japan. The investment includes collaboration in research, development, and training of AI talent, aiming to democratize AI access in the country.
Broadcom (AVGO) is set to report its third-quarter fiscal 2024 results on September 5th, with analysts expecting strong revenue growth driven by AI and Generative AI (GenAI) offerings. However, concerns remain about potential weakness in enterprise and telecommunication markets, which could impact the company’s performance.
Tech giants like Amazon, Google, and Meta are expected to significantly increase their capital expenditures (capex) in the coming years, driven by the rapid advancements in generative AI (GenAI). This spending spree aims to secure a dominant position in the AI market, which is projected to generate substantial revenue for these companies.
SenseTime, a prominent Chinese AI company, is making strides in its transition to generative AI, with the segment now accounting for 60% of its revenue. However, the company faces challenges from price wars, GPU restrictions, and a shrinking market for its traditional computer vision products. Despite these obstacles, SenseTime’s losses have narrowed, and the company aims to establish a foothold in the growing generative AI market.
Zoomcar, a car-sharing marketplace based in India, has introduced a Generative AI (Gen AI) Assistant to help Hosts navigate the platform and maximize their earnings. This AI-powered tool aims to simplify onboarding, provide round-the-clock support, and personalize the Host experience.
Elastic N.V. (ESTC) exceeded earnings expectations in the first quarter but issued a weaker-than-expected revenue forecast for the second quarter. While the company reported strong adoption of its generative AI offerings, segmentation changes are impacting customer commitments and slowing revenue growth. Despite the revised forecast, analysts downgraded the stock, and shares closed slightly higher.
