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This week in AI: Smarter work, wealthier elites, and Adobe’s AI assistant

Welcome to AI Weekly, where we delve into the cutting-edge and ever-evolving world of artificial intelligence and bring you concise yet comprehensive summaries of the most exciting AI developments. 

Employment Hero Introduces New Google and Microsoft Automations for ‘One-Click Hiring’

Employment Hero has rolled out new features enabling its customers to seamlessly set up or deactivate employees’ Google Workspace or Microsoft 365 accounts directly through the Employment Hero platform. This update significantly reduces the administrative workload on IT teams, particularly beneficial for SMEs with limited or no IT resources. These enhancements follow a previous integration with Slack, simplifying team management and enhancing employee engagement.

Adobe Unveils AI Assistant for Searching and Summarizing PDFs

Adobe has launched the AI Assistant in beta, an innovative generative AI-powered conversational engine integrated into Reader and Acrobat. This marks Adobe’s initial stride towards revolutionizing digital document experiences using generative AI for both consumption and creation. The AI Assistant swiftly generates summaries and insights from lengthy documents, answers inquiries, and formats information for easy sharing in emails, reports, and presentations. Reader and Acrobat users will gain access to the full spectrum of AI Assistant capabilities through a new add-on subscription plan upon its official release.

Microsoft Develops AI Server Gear to Enhance Performance

Microsoft is in the process of developing a new network card aimed at enhancing the performance of its Maia AI server chip, potentially reducing the company’s dependence on chip designer Nvidia. This move comes in response to Nvidia’s ConnectX-7 card, which is sold alongside its GPUs. The development of this equipment, expected to take over a year, could expedite OpenAI’s model training on Microsoft servers and reduce associated costs.

AI Contributions Drive Wealth Gains for World’s Richest

A significant portion of the wealth accumulated by the world’s wealthiest individuals this year is attributed to AI-related companies. Among the top 500 billionaires, 30 have seen their fortunes rise substantially due to investments in firms tracked by the Bloomberg Global Artificial Intelligence Index. These holdings have collectively increased their net worth by $124 billion, accounting for 96% of the total wealth growth on the Bloomberg Billionaires Index.

Ex-Salesforce Co-CEO and Google Executive Launch New AI Startup

Former Salesforce co-CEO Bret Taylor and seasoned Google executive Clay Bavor have joined forces to establish Sierra, a startup focused on developing conversational AI chatbots for businesses. Securing $110 million in funding ahead of its official launch, Sierra has quickly expanded into a team of 30 with an office in San Francisco’s SoMa neighborhood. Its AI agents are already engaged in hundreds of thousands of customer conversations each month for clients including Weight Watchers, SiriusXM, Sonos, and OluKai.

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Yajush Gupta

Yajush Gupta

Yajush is a journalist at Dynamic Business. He previously worked with Reuters as a business correspondent and holds a postgrad degree in print journalism.

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