Categories
News

SEC Sues Two Firms for False Artificial Intelligence Claims; USPTO Issues Guidance on AI and Inventorship

Artificial intelligence (AI) is rapidly transforming various industries, and its impact is being felt in numerous ways. In recent news, AI has been used to predict the outcome of March Madness basketball games, outperform humans in creative potential tests, and even be at the center of legal battles over inventorship.

In sports, AI is being used by bracketologists to help predict the outcomes of March Madness basketball games. According to The Associated Press, AI can determine the probability that a team wins, but it cannot account for the randomness of closely matched games. Despite this, AI-powered models are still useful tools for bracketologists.

In the world of creativity, AI has been found to outperform humans in standardized tests for creative potential. A new study by researchers at the University of Helsinki and Aalto University in Finland found that an AI program called “The Painting Fool” was better than humans at generating creative outputs in a series of experiments. The researchers noted that while AI may not be able to fully replicate human creativity, it can still produce outputs that are deemed creative by human standards.

In the legal world, AI has been at the center of a dispute over inventorship. The US Patent and Trademark Office (USPTO) recently issued guidance on how AI impacts inventorship, including issues related to using AI in the invention process. According to Law.com, the USPTO’s guidance clarifies that an inventor must be a person, not an AI system. This is important because it affects who can own patents and receive royalties for their inventions.

In other news, the SEC has sued two money managers for making false claims about their use of AI. The SEC alleges that the firms misled investors by claiming to use AI in their investment strategies when they did not. This is the first time the SEC has taken action against firms for making false claims about their use of AI, and it highlights the importance of transparency and accuracy in marketing materials.

Finally, Jumptuit, a technology company specializing in AI-powered search, has been granted a notice of allowance from the USPTO for its AI Assisted Search system and method. The patent covers a system and method for using AI to expand search results beyond traditional keyword-based methods. This could have significant implications for how we conduct online searches and find information in the future.

In summary, AI is making waves in various industries, from sports and creativity to law and technology. While there are still many questions about the role of AI in society, one thing is clear: it is here to stay and will continue to shape our world in new and unexpected ways.

More information, please check below news source:

    Asteroids, wendigos, monsters, vampires: Artificial Intelligence conspiracies flood TikTok
    (Briefly on MSN.com)
    From asteroids, vampires and wendigos to killer asteroids, TikTok users are pumping out outlandish end-of-the-world conspiracy theories, researchers say, in yet another misinformation trend on a platform whose fate in the United States hangs in the balance.
    Read More
    News Image

    Breakpoint: The promises and perils of artificial intelligence
    (Chattanooga Times Free Press)
    Ray Kurzweil is a scientist and futurist who for years now has predicted potential advancements in higher tech, as not just a helpful set of tools for humans to use but also as essential to post-human evolution. By hitching our humanity to artificial intelligence, what he calls “the Singularity,” Kurzweil prophesies a new age:
    Read More
    News Image

    Forget Nvidia: Another “Magnificent Seven” Artificial Intelligence (AI) Powerhouse Is Cheaper
    (The Motley Fool on MSN.com)
    When you think about buying an artificial intelligence (AI) stock today, one of the first names to come to mind is probably Nvidia. And for good reason. Nvidia is the leading seller of AI chips, with more than 80% market share, and this has driven record earnings and tremendous share performance in recent times.
    Read More
    News Image

    Global Artificial Intelligence Market Expected to Grow to $1.3 Trillion by 2023
    (The Globe and Mail)
    The increased uptick in demand and emerging and unified use cases across OCI and Microsoft Azure demonstrate just how important the multicloud deployments are for our joint customers.” Alphabet Inc. (NASDAQ: GOOG) and VMware,
    Read More

    How bracketologists are using artificial intelligence this March Madness
    (The Associated Press – Sports on MSN.com)
    Artificial intelligence is likely very good at determining the probability that a team wins, Miller said. But even with the models, he added that the “random choice of who’s going to win a game that’s evenly matched” is still a random choice.
    Read More
    News Image

    Is artificial intelligence more creative than humans?
    (talker on MSN.com)
    In a new experiment AI outperformed humans in standardized tests for creative potential. The post Is artificial intelligence more creative than humans? appeared first on Talker.
    Read More
    News Image

    Jumptuit Expands Artificial Intelligence Intellectual Property Portfolio with Notice of Allowance from the USPTO for AI Assisted Search
    (TMCnet)
    “System and Method of AI Assisted Search” (Application No: 15/950,922) is a system and method for AI assisted expanded search. The inventor is Jumptuit Founder and CEO, Donald Lek
    Read More
    News Image

    SEC Sues Two Firms for Bogus Artificial Intelligence Claims
    (YAHOO!Finance)
    The US Securities and Exchange Commission penalized two money managers for what it says were bogus claims about their use of artificial intelligence, marking the beginning of a fresh crackdown by Wall Street’s main regulator.
    Read More

    USPTO Provides Guidance on How Inventorship Is Impacted When Artificial Intelligence Is Used
    (Law)
    The US Patent and Trademark Office (USPTO) issued guidance on Artificial Intelligence (AI) and inventorship, including issues related to using AI in
    Read More