Welcome to Get The Gist, where every weekday we share an easy-to-read summary of the latest and greatest developments in AI—news, innovations, and trends—all delivered in under 5 minutes! ⏱

In today’s edition:

• Apple Unveils Its Latest AI-Powered iPhone 16

• Chai Discovery Secures $30 Million

• X Updates its Grok AI Chatbot

• OpenAI Releases Two New Showcase Videos of Sora AI Video Model

• And more AI news….

Top Developments

Apple

Apple Unveils Its Latest AI-Powered iPhone 16

The Gist: Apple has unveiled its latest iPhone 16, embedding advanced artificial intelligence features aimed at enhancing user experience and revitalizing sales. With updates to Siri and a competitive market landscape, the tech giant hopes these innovations will entice upgrades from existing customers.

Key Details:

• The iPhone 16 lineup features AI improvements, such as enhancements to Siri and the ability to recognize objects in photos.

• The starting prices remain consistent with previous models: iPhone 16 at $799 and iPhone 16 Plus at $899, while the Pro versions start at $999.

• Apple's new AI software, "Apple Intelligence," will roll out in test mode starting next month, with broader language support promised for 2025.

• In a competitive twist, Huawei is making headlines with over three million pre-orders for its new tri-fold phone, raising questions about Apple's market position in China.

HyperWrite

Reflection 70B: The Rise and Fall of an AI Model

The Gist: This past weekend saw the rapid rise and immediate scrutiny of Reflection 70B, a new AI model from HyperWrite that touted itself as the best open-source option out there—only to stumble under evaluation from independent testers questioning its true capabilities.

Key Details:

• HyperWrite’s CEO claimed Reflection 70B had an innovative training method that allowed it to generate more accurate responses.

• Shortly after its launch, evaluations suggested Reflection 70B performed similarly to older models, leading to skepticism about its actual effectiveness.

• The CEO admitted potential issues with the model's online version, indicating a mix-up in the uploaded files might have misrepresented its performance.

• Some users accused HyperWrite of fraud in the AI community based on comparisons and evidence suggesting Reflection 70B might not be as groundbreaking as claimed.

OpenAI

AI Meets Drug Discovery: Chai Discovery Secures $30 Million

The Gist: Chai Discovery, a startup that harnesses AI for revolutionary drug discovery, has raised $30 million to help reshape how medications are developed. By predicting molecular structures and interactions, they aim to transform biology into a more engineered science.

Key Details:

• Founded only six months ago, Chai has quickly attracted significant investment from Thrive Capital and OpenAI.

• The company uses innovative AI models to predict how biochemical molecules will behave and interact.

• Chai's latest funding round values the company at $150 million, indicating strong confidence from investors in its potential.

• Co-founder Joshua Meier emphasizes the goal of transitioning biology from a purely scientific field to an engineering discipline.

Quick Gist

X has updated its Grok AI chatbot to provide accurate election information after five US secretaries of state raised concerns about the chatbot disseminating misinformation regarding ballot deadlines (Read More).

At least 113 current and former employees of major AI companies have publicly endorsed California's SB 1047, an AI safety bill that would hold developers accountable for catastrophic failures (Read More).

Former OpenAI chief scientist Ilya Sutskever has raised $1 billion for his new company, Safe Superintelligence, which aims to develop safe artificial intelligence systems (Read More).

OpenAI released two new showcase videos demonstrating its forthcoming Sora AI video model, highlighting its potential for realistic character motion and visuals, amid increasing competition from other AI companies (Read More).

The Saudi Data and AI Authority (SDAIA) released a report in anticipation of the Global AI Summit in Riyadh (Read More).

At the 2024 Responsible AI in the Military Domain (REAIM) summit in Seoul, 61 countries adopted a comprehensive "Blueprint for Action" outlining ethical guidelines for the use of artificial intelligence in military operations (Read More).

THAT’S IT FOR TODAY!