OWITH.ai: Your Daily Briefing on AI, Tech, and Cybersecurity Trends

OWITH.ai - Only What's Important to Hear around AI and Tech

Good morning from OWITH.ai: the podcast that gives you only what's important to hear in AI and tech world. The global cybersecurity workforce is experiencing a shortage of 4 million professionals despite a record high of 5.5 million currently in the field. AI tools are not expected to lead to job layoffs in cybersecurity, according to Amazon's security chief Steve Schmidt, who believes there is more than enough work given the talent gap. While AI can enhance security measures and efficiency, concerns remain about potential impacts on entry-level jobs and the industry as a whole. Tensions within Google's DeepMind unit have been reported following a merger with Google Brain, and the marketplace for AI training data is rapidly expanding. The Broadsheet newsletter provides updates on powerful women in business, AI research, and upcoming events in the industry.Senate Democrats have not yet decided on whether to make Bytedance divest from TikTok or ban it in the US. Senate Republican leader Mitch McConnell supports the push to force Bytedance to choose between divesting or facing a ban, citing China's influence and control over TikTok. The House passed a bill on the subject, but its fate in the Senate is uncertain. Commerce Committee Chair Maria Cantwell is working with Senate Democratic Leader Chuck Schumer and others to develop a plan. Cantwell is also preparing a federal privacy bill that could impact TikTok's data practices. Uncertainty about TikTok's future in the US is causing issues for Bytedance's US employees. Additionally, TikTok is making strategic moves in Europe with new offerings. In other news, Samsung is set to receive a chipmaking subsidy, Google has unveiled a new AI chip, and Microsoft is investing in Japanese data centers. Elon Musk predicts artificial general intelligence could be achieved within the next year or two.A mathematician named Avraham Eisenberg made $100 million by manipulating a decentralized finance platform called Mango Markets. He traded with himself using futures accounts to drive up the price of a token, borrowed $110 million against his illusory gains, cashed out, and left other users in the lurch. Eisenberg defended his actions as being within the rules of the platform and the norms of degen culture but is facing fraud charges for his actions. His case will set a precedent for how the legal system handles decentralized finance. The crypto industry continues to attract investments, with startups receiving $2.5 billion in the first quarter of the year. Ethereum's price surged due to rumors of an ETF approval while hackers have targeted over 2,000 WordPress sites with fake NFT promotions that drain users' crypto wallets.Alleycorp, a firm led by serial entrepreneur Kevin Ryan, has raised a $250 million fund, taking on external investors for the first time. The firm has a track record of incubating successful companies such as MongoDB, Gilt Groupe, and Business Insider. Ryan aims to transition Alleycorp into a more sustainable and long-term venture capital firm, similar to established firms like Venrock or Bessemer. The new fund will allow Alleycorp to continue its strategy of investing in early-stage companies. Ryan's reputation for providing direct feedback to help people grow is reflected in his approach towards founders. Moving forward, Alleycorp intends to maintain its current strategy but aims to achieve the longevity of firms like Venrock or Bessemer. The firm remains committed to investing in New York City's tech scene while also expanding its reach nationally and internationally. The fund structure transition marks a significant milestone for Alleycorp as it seeks to build a sustainable and enduring venture capital firm.

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