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AI & Crypto Weekly Insights (19/05): Sam Altman urges congress to adopt AI regulations, OpenAI releases ChatGPT mobile app and web browsing functionality

7 min read  ·  19 May 2023

Sam Altman Testifying before congress. Image Courtesy of Bloomberg

Sam Altman Testifying before congress. Image Courtesy of Bloomberg

⚖️ Regulation

OpenAI’s Sam Altman calls on Congress to adopt AI regulations. The ChatGPT CEO called on the US to help mitigate safety, privacy, and copyright concerns while giving tech companies the freedom to continue developing new products. (WSJ)

Markets in Crypto Assets (MiCA) regulation signed by EU Finance Ministers. The landmark regulation was given final approval by the EU’s Council, which also agreed a new law for sharing data on crypto tax holdings. (CoinDesk)

Cryptocurrency has no intrinsic value and trading should be regualted like gambling, UK ministers say. The UK Treasury's select committee published a report on Wednesday in which members said crypto should be treated like gambling, given it had “no intrinsic value, huge price volatility and no discernible social good”. MPs on the committee said the government proposals would create a “halo effect”, giving consumers the impression that assets were safe and protected. (FT)

🔗 Crypto

After Pepe token’s FOMO-led boom and bust, Bitcoin tumbles The Pepe token was obsessively promoted on Twitter before and after its launch, peaking at a market value of more than $1.6 billion on May 5 before reversing course and plummeting as much as 70%. The ill-fated frog took Bitcoin and Ether down with it. Both coins have dropped about 10% since May 5, a notable step-down after four straight months of gains. (Bloomberg)

Crypto murder in Seoul’s Beverly Hills spurs tighter digital-asset regulation. The homicide, which stemmed from a dispute over crypto investment losses and an attempt to steal the victim's digital tokens, adds to a string of South Korean scandals linked to digital assets. The latest incident injects fresh urgency into efforts to get the nation’s first standalone crypto bill passed in a parliamentary vote as early as May. (Bloomberg)

US fund groups race to launch first US ether futures ETF. Five ETF issuers filed to launch ether futures ETFs last week, in what could become a “winner-take-most” scenario, analysts say. (FT).

🤖 A.I.

OpenAI launches free ChatGPT app for iOS and enables web browsing and plugins for Plus subscribers. (The Verge)

Google is blocking access to its Bard chatbot in the EU and Canada. The move is likely due to data privacy and other regulatory concerns. (Wired)

OpenAI is developing a text-to-model platform that can generate 3D images. Shap-E could be a game-changer for industries including interior design and architecture. (Artnet)

A study finds that co-writing using a biased generative AI chatbot resulted in participants more often agreeing with the bot’s suggested opinions without realizing they were being influenced. AI assistants may be able to change our views without our realizing it. (WSJ)

Influencer Caryn Marjorie launched a GPT-4-powered chatbot called CarynAI that replicates her voice and personality and costs $1 a minute. After making $100,000 in the its first week, Majorie estimates the product will come to generate as much as $5 million a month. (Washington Post)

Is the AI open source community able to compete with big tech? The open source community is so far keeping pace with generative AI developments from Big Tech companies. But with access to code and research becoming more restrictive as competition heats up, will they remain competitive? (MIT Technology Review)

TikTok creators are using generative AI to produce elaborate alternative histories. AI generated TikTok videos imagine a world without Western Imperialism, featuring faux documentary images and narration. (Rest of world)