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Artificial Intelligence

AI Startup Aims to Bridge Divides in Climate Negotiations and Beyond

Complex Chaos, a startup founded by Tommy Lorsch and Maya Ben Dror, is developing AI-powered tools to foster cooperation and accelerate consensus-building among groups. Their initial focus involves climate negotiations, where they aim to help delegates reach agreements more efficiently.

The startup's tool, incorporating Google's Habermas Machine and OpenAI's ChatGPT, was trialed with young delegates from nine African nations preparing for climate negotiations. Results indicated a 60% reduction in coordination time and a 91% agreement among participants that the AI tool helped them consider different perspectives.

Complex Chaos envisions applications beyond climate talks, pitching their tool to companies for strategic planning and other collaborative processes. Their goal is to streamline negotiations and decision-making, ultimately addressing significant global challenges.

Business & Finance

UK Government Backs Jaguar Land Rover with £1.5 Billion Loan Following Cyberattack

The U.K. government is providing a £1.5 billion loan guarantee to Jaguar Land Rover (JLR) after a cyberattack forced the company to halt production. The loan aims to support JLR's supply chain, which has been heavily affected by the shutdown.

The cyberattack, carried out by a financially motivated hacking group, led to data theft and significant disruption. JLR reportedly lost £50 million due to the production halts. The government's decision to bail out JLR has sparked debate, with some experts warning it could encourage future cyberattacks on U.K. organizations.

JLR's cybersecurity practices, including outsourcing to Tata Consulting Services, have also faced scrutiny. The company plans to resume car production soon.

AI & Startups

Marissa Mayer Shuts Down Sunshine, Shifts Focus to New AI Venture Dazzle

Marissa Mayer, former Yahoo CEO, is shutting down her consumer software startup, Sunshine, and selling its assets to her new AI startup, Dazzle. The decision follows limited success with Sunshine's contact management app and later additions of event management and photo sharing features.

Dazzle aims to develop an AI personal assistant, with all Sunshine employees transitioning to the new company. The deal has been approved by most of Sunshine's investors, including Norwest Venture Partners, Felicis Partners, and SV Angel. Sunshine, founded in 2018, struggled to gain traction despite raising $20 million and being largely self-funded.

Data Science & Open Source

Polars Secures $21M to Scale Open-Source Data Processing

Polars, an Amsterdam-based company known for its open-source data processing tool, has raised $21 million in a Series A round led by Accel, with participation from Bain Capital Partners. The funding will support the development of Polars Distributed, a distributed engine aimed at handling petabyte-scale datasets and challenging Apache Spark.

Founded by Ritchie Vink as a pet project during Covid, Polars gained popularity for its ability to process data faster than Pandas. The company launched Polars Cloud, a managed data platform, in February and aims to bridge the gap between Pandas and Spark with its products.

Accel partner Zhenya Loginov highlighted Polars' success in addressing a significant problem in data processing. Polars is currently used in finance, life sciences, and logistics, with Polars Cloud and Polars Distributed marking a new phase for the company.

Artificial Intelligence & Venture Capital

AI-Powered Roll-Ups: Venture Capital's Ambitious, Yet Challenging, Transformation of Services Businesses

Venture capitalists, led by firms like General Catalyst, are investing heavily in AI to transform traditional services businesses. The strategy involves acquiring mature firms, implementing AI to automate tasks, and then using the improved cash flow to acquire more companies. General Catalyst has dedicated $1.5 billion to this "creation" strategy, targeting industries from legal services to IT management. However, early warning signs, such as the phenomenon of "workslop" (AI-generated work lacking substance), suggest that this transformation may be more complicated than VCs anticipate, potentially undermining the expected margin gains and slowing down scaling plans.

Business & Technology

Oura Health's Potential IPO and Stance on Data Privacy

Oura Health CEO Tom Hale discussed the possibility of an IPO for the company, acknowledging that they have reached the necessary size and scale. While not explicitly in their current plans, it remains an option for the future. Oura is projected to generate $1 billion in revenue this year, doubling its 2024 figures. Hale also addressed the company's involvement in data-sharing programs and emphasized their commitment to data privacy, stating that it is "nonnegotiable," particularly concerning potential misuse. He clarified that user data is not shared directly with government administrations without user consent.

Autonomous Vehicles and Electric Mobility

Autonomous Vehicle Industry Developments: Gatik Expands with Loblaw, Kodiak AI Goes Public

The autonomous vehicle industry is showing progress with key developments:

Gatik & Loblaw Partnership: Gatik is expanding its partnership with Loblaw to deploy 20 autonomous trucks by 2025 for driverless deliveries in the Toronto area, with plans to add 30 more by 2026. These trucks will handle the full regional network, picking up products from distribution centers and delivering to over 300 retail stores.
Kodiak AI Goes Public: Kodiak Robotics, now Kodiak AI, began trading on Nasdaq after merging with Ares Acquisition Corporation II, valuing the company at $2.5 billion. They raised $275 million in financing, with founder Don Burnette emphasizing the importance of public markets for scaling autonomous driving technology and the company's focus on defense applications.
Supernal's Reorganization: Hyundai's electric air taxi startup, Supernal, is undergoing a C-suite reorganization with the departure of key executives, including Jaeyong Song and Tracy Lamb.
Anode Technology Company's New Venture: The founders of bankrupt Moxion Power have launched Anode Technology Company, which raised $9 million in seed funding for mobile batteries and inverters.
Other Notable Deals: Rapido's valuation doubled to $2.3 billion, and Telo raised $20 million to build tiny electric trucks.
Hacks and Investigations: Stellantis confirmed a data breach, and the NHTSA is investigating Rivian over seat belt issues.
EV Production Adjustments: Automakers are adjusting EV production plans, with Honda ending U.S. production of the Acura ZDX and Stellantis canceling plans for an electrified Jeep Gladiator.

Cybersecurity

AI's Dual Role: Transforming Cyberattacks and Security Measures

Ami Luttwak, chief technologist at Wiz, highlights the growing importance of cybersecurity as AI integrates into enterprise workflows. AI is expanding the attack surface with vulnerabilities stemming from rapid code development.

Attackers are leveraging AI for exploits, including using prompts to extract secrets and compromising AI tools for supply chain attacks.

Wiz has expanded its capabilities to address AI-related threats, launching Wiz Code and Wiz Defend to secure the software development lifecycle and offer runtime protection.

Luttwak emphasizes the need for startups to prioritize security from day one, including compliance and architecture that keeps customer data within their environment.

He sees innovation opportunities across all security domains, particularly in using AI for defense, urging a rethinking of security strategies.