BIZ

Elon Musk announces new AI startup

Published

1 year ago

July 13, 2023

editor

Tesla boss Elon Musk has announced the formation of an artificial intelligence startup.

The new company is called xAI, and includes several engineers that have worked at companies like OpenAI and Google.

Mr Musk has previously stated he believes developments in AI should be paused and that the sector needs regulation.

He said the start-up was created to “understand reality”.

It is unclear how much funding the entity has, what its specific objectives are or what kind artificial intelligence the company wants to focus on.

The company’s website says the goal of xAI is to “understand the true nature of the universe.”

The new firm will host a Twitter Spaces chat on Friday, which may reveal further details about its aims.

Elon Musk was the one of the original backers of OpenAI, which went on to create the popular large language model ChatGPT, which has – often controversially – become popular for uses such as assisting students with writing homework.

However, the billionaire’s relationship with the company has soured. He has criticised ChatGPT for having a liberal bias.

“What we need is TruthGPT”, Mr Musk tweeted in February.

He also disagrees with how ChatGPT has been run – and its close relationship with Microsoft.

“It does seem weird that something can be a nonprofit, open source and somehow transform itself into a for-profit, closed source,” Musk said in a CNBC interview.

In March Mr Musk signed an open letter calling for a pause to “Giant AI Experiments”, which to date has around 33,000 signatures.

In an interview with the BBC in April Mr Musk said he had been worrying about AI safety for over a decade.

“I think there should be a regulatory body established for overseeing AI to make sure that it does not present a danger to the public”, he said.

Mr Musk has also pitted himself against AI companies due to the data they use to train chatbots – the software that learns how humans interacts by scraping masses of data from various sources to fuel its knowledge and interaction styles.

The billionaire believes vast amounts of Twitter’s data is scraped from the platform, and that the company should be adequately compensated.

Mr Musk purchased the microblogging platform in a deal worth billions, before making sweeping changes which led to many leaving the platform in protest, including the producer of shows such as Grey’s Anatomy and Bridgerton, Shonda Rhimes, as well as model Gigi Hadid and comedian and actor Stephen Fry.

(BBC News)

BIZ

Sri Lankan start-ups ace at SolarX Startup Challenge

Published

17 hours ago

December 11, 2024

editor

Sri Lanka has emerged as the country with the highest number of winners at the SolarX Startup Challenge (Asia-Pacific Chapter).

The Challenge launched at COP 28 by the International Solar Alliance in collaboration with Invest India is committed to identifying and fostering innovative solutions in the solar energy sector.
This year, the Challenge has identified top 20 startups from across Asia-Pacific, including Sri Lanka, Australia, Papua New Guinea, UAE, Saudi Arabia, and other countries. Four of the twenty selected start-ups are from Sri Lanka. These start-ups were introduced to the Challenge in a workshop organised by High Commission of India earlier this year, in partnership with Invest India and the International Solar Alliance.

The following winners from Sri Lanka have been awarded grants of USD 15,000 each, alongside acceleration support encompassing mentorship, investor connections, and market access opportunities.

Bio Lanka Exports (Pvt) Ltd : Bio Lanka Exports offers eco-friendly, solar-powered container homes, minimizing material use and construction waste for residential and commercial needs.
Magicbit Pvt. Ltd. : Magicbit provides an open-source, real-time monitoring and analytics platform for solar energy, integrating IoT, cloud, and AI technologies for high scalability and real-time visibility.
Syntax Genie (Pvt) Ltd : Syntax Genie’s AI-driven platform optimizes solar mini-grid management, addressing energy poverty in remote Asia-Pacific areas with scalable and sustainable solutions.
Bluechip Technologies Asia : Bluechip Technologies leverages AI, IoT, GPS, and drone technology to optimize solar project deployment across the entire lifecycle, ensuring efficient site selection and planning.

Invest India is organising the second round of the SolarX Startup Challenge workshop in Colombo on 12 December 2024. This Physical Acceleration Workshop will be a capacity-building event to further empower startups in the renewable energy sector with mentorship sessions, interactive discussions, and pitching opportunities. It will also feature field visits to solar and renewable energy facilities in Sri Lanka, providing startups with hands-on exposure to the local ecosystem.

BIZ

ASPI hits record high

Published

1 week ago

December 5, 2024

editor

The All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) has reached an all-time high of 13,511.73 points, marking an increase of 171.69 points.

The S&P SL20 stood at 4,016.60 points.

The CSE reported a trading turnover of Rs. 5.2 billion at the close of the session.

The previous record was achieved on January 19,2022. Amidst multiple off-board transactions, the turnover surged past Rs.5.2Bn, marking a 48.8% increase from the monthly average.

BIZ

DSI obtains enjoining order against infringement of ‘Fun Souls’ brand

Published

1 week ago

December 5, 2024

editor

Action was filed in the Commercial High Court of Colombo by DSI through their Attorneys Sudath Perera Associates against the entity Lakpa Footwear Ltd., with its headquarters based in Horana. The action was filed for the infringement of DSI’s ‘Fun Souls’ trademark and brand and the shoe design on the basis of trademark infringement, unfair competition, and passing-off.

D. Samson & Sons Ltd., widely known as DSI, is a leading homegrown brand and manufacturer of footwear, apparel, and bicycle tyres across the country and has established a strong reputation for quality products in Sri Lanka since its inception. In 2016, DSI introduced and developed the brand ‘Fun Souls’ with a youth identity, to offer a range of unique shoes and bags, including infant shoes, toddler shoes, boys’ and girls’ footwear, and accessories. This ‘Fun Souls’ shoe design was an original concept presented by the DSI brand family.

On 1 November, Commercial High Court Judge Jagath A. Kahandagamage issued an enjoining order against the Defendant for engaging in the sale of kids’ footwear with a brand name/design identical or confusingly similar to the ‘Fun Souls’ trademark and the shoe design.

The Plaintiff, DSI, pleaded that the Defendant has copied the mark ‘Fun Souls’ and the design of the shoe belonging to the Plaintiff in a similar manner with the deliberate intention of passing off its products as those of the Plaintiff.

The Plaintiff further pleaded that the slight, insignificant changes in the impugned mark and the design used by the Defendant are unnoticeable to the average consumer and deliberately adopted with the mala fide intention of the Defendant to usurp the goodwill and reputation of the Plaintiff’s ‘Fun Souls’ trademark and the shoe design.

The Commercial High Court, after hearing the submissions of the Lead Counsel for the Plaintiff, issued an enjoining order as requested by the Plaintiff. The order restrains the Defendant from continuing to use or carrying out business using its infringing shoe design, under the name, sign, or mark ‘Fun Shoe,’ which is misleadingly similar to the Plaintiff’s trademark ‘Fun Souls’ and its associated shoe design.

It also prohibits the Defendant from using any other variation of the name, sign, mark, or shoe design that is confusingly similar to the Plaintiff’s trademark or trade name, and from adopting any trade name or trademark that could cause confusion with the Plaintiff’s trademark or trade name.

(ft.lk)

(This story, originally published by ft.lk1st has not been edited by SLM staff)