Meta Platforms has hit a significant roadblock in its push to launch a chatbot in Europe. Regulators in the region have asked the US tech giant to pause its plan to train its AI-powered chatbot with data from users in the region. The tech giant planned to train Llama using posts generated in the region.
Llama Europe Woes
Over the years, the company has been embroiled in a fierce battle with European regulators over how it accesses people’s data on its flagship apps, Facebook and Instagram. There have always been concerns that the company uses the data in contravention of privacy laws and against antitrust laws.
Following the block by the Irish Data Protection Commission, the social networking giant insists the move will only hinder artificial intelligence development in the region. Meta insists that being barred from using European Users’ data on Llama will only further delay the delivery of the benefits of AI to the area. Without accessing local information, the company won’t be able to offer the best experience with its AI products.
The company launched the AI-powered LLM Llama in April. It also offers Meta AI assistance to users across the US. Expansion into Europe was the next cause of action, given that Facebook has over 308 million daily active users across the region. Meta has invested billions of dollars into developing artificial intelligence technology to keep up with other tech giants, including Google and Microsoft.
Apple AI Boost
Apple providing a roadmap of how it plans to integrate artificial intelligence features into its products is the catalyst driving its stock higher in the market. Investors have reacted by pushing the stock higher, having become clear that the next set of iPhones will come with AI features much needed to give people a reason to upgrade their phones.
Some of the most awaited AI-powered features include enhanced search, enhanced photo editing, and text generation. The pool of iPhone users that could be upgraded is massive, especially with the integration of AI features. Currently, there are more than 800 million smartphone devices that are iPhone 12 or older that cannot be upgraded to AI software. Therefore, most will have to buy new iPhones to enjoy the latest features.
Investors are increasingly betting on the new features, including the proposed plan to integrate OpenAI chatbot ChatGPT into iPhones. There is growing optimism that AI is the innovation that will fuel the next cycle of iPhone sales after they fell by 2% last year. Amid the growing optimism about AI’s impact on Apple products, the stock has usurped Microsoft as the most prominent company by market cap.
Tempus Rallies on AI
Meanwhile, technology Platform Company Tempus, which uses artificial intelligence to process medical data, had a successful first day as a public company. The company’s stock jumped by more than 19%, signaling the growing interest and demand for AI plays in the market. The Chicago-based company went public at the top of its proposed share range of $35 to $37.
Tempus has caught the attention of investors by describing its business model as a company that leverages artificial intelligence for precision medicine while focusing on oncology, cardiology, and radiology. The company has developed a technology that connects laboratory results to patient’s clinical data and has already been used by more than 7,000 physicians.
