In a surprising turn of events, US technology companies are now competing with bitcoin miners for control over scarce energy resources. As AI and cloud computing data centers expand rapidly, the demand for electricity is soaring, leaving tech giants like Amazon and Microsoft in a race to secure power supplies. This scramble for energy is shaking the foundations of the cryptocurrency mining industry, forcing miners to rethink their strategies or face the risk of being pushed out of business.

Generative AI, once a high-priced innovation accessible only to a select few, is rapidly becoming a commodity. Recent price cuts by tech giants Google and OpenAI signal a shift towards more affordable AI, but this trend raises questions about the long-term sustainability of these price reductions. In early August, Google slashed the input cost for its Gemini 1.5 Flash model by a staggering 78% and the output cost by 71%. Not to be outdone, OpenAI also lowered the input cost for GPT-4o by 50% and the output cost by a third. These reductions are part of a broader trend that’s reshaping the landscape of AI.

Commonwealth Bank has introduced a groundbreaking tool in its arsenal of employee support mechanisms — ChatIT, an AI-enabled IT support chatbot. This innovative solution, detailed in the bank's annual report, is designed to streamline IT troubleshooting, enhance productivity, and ensure a smoother workflow for its staff.

Artificial Intelligence is not just a trend — it's a revolution. With the global AI market already valued at a staggering $196 billion, the momentum shows no signs of slowing down. Experts predict that the industry’s value will increase more than 13 times over the next six years, a growth trajectory that’s as ambitious as it is achievable. This expansion signals a transformative shift in how businesses and industries operate, pushing AI to the forefront of technological advancement.

In the rapidly evolving world of job hunting, a new trend is reshaping the recruitment landscape: the widespread use of artificial intelligence tools by job seekers to craft their applications. As more candidates turn to generative AI technologies like ChatGPT to write CVs, cover letters, and complete assessments, recruiters are facing an unprecedented influx of applications—many of which are of questionable quality. Today we try to explore the implications of this shift, highlighting both the opportunities and challenges it presents for job seekers and employers alike.

Artificial Intelligence has rapidly permeated every facet of the creative industry, including animation. Major studios like Netflix and Disney are increasingly experimenting with AI, leveraging vast stores of data to automate aspects of animation production. However, for animators, this shift represents an existential threat, as AI could potentially replace human creativity at every step. The rise of AI in animation is considered by some as a significant disruption that could reshape the entire industry. The concerns are not hypothetical — AI is already being used in areas like background generation, raising alarm bells among professionals.

Recently, Cosmos, a popular Australian science magazine, has ignited debate by introducing AI-generated articles, sparking reactions from contributors, former editors, and co-founders. The magazine, under the auspices of the CSIRO since its financial struggles, embarked on this experimental project to explore AI's potential in journalism. Funded by a grant from the Meta Australian News Fund, managed by the Walkley Foundation, this initiative aims to assess both the opportunities and risks associated with AI in journalistic practices, scheduled to run until February 2025.

In June, Australian software engineer Nikhil Suresh's blog post went viral for its bold and uncensored critique of the AI industry. Suresh's frustration was palpable, humorously threatening a "chiropractic adjustment" to anyone overly hyping AI. His post resonated deeply, garnering over a million views and causing at least one reader to choke on their coffee. It highlighted the growing sentiment that much of the AI industry is filled with "grifters" using hype to inflate their roles and gain promotions. Suresh called out businesses for rushing to implement AI without understanding its basic applications, leading to potential disasters.

Dell Technologies is making significant changes to adapt to the AI-driven market, streamlining its operations and workforce to enhance efficiency and focus on growth sectors such as AI and cloud solutions. As part of this strategic shift, the company is both reducing its workforce and creating new opportunities in these burgeoning areas.

Intel, a long-standing giant in the semiconductor industry, has announced a significant downturn in its financial performance for the third quarter. The company's projected revenue of $12.5 billion to $13.5 billion falls short of analysts' expectations of $14.38 billion. This disappointing forecast comes alongside the announcement of over 15,000 job cuts. The news sent Intel's shares plummeting by more than 18 percent in late trading. This marks a critical moment in Intel's history as it grapples with intense competition and internal challenges.

Google has hired the founders of Character.AI, Noam Shazeer and Daniel De Freitas, in a move that enhances its AI capabilities through a key licensing deal. This strategic acquisition aims to bolster Google’s AI division, while Character.AI continues independent operations, demonstrating the growing trend of Big Tech acquiring high-potential AI startups.

Civils.ai, a groundbreaking AI startup, is streamlining the construction industry by addressing inefficiencies in document handling. Construction projects often face delays due to the manual management of critical documents like PDFs and CAD files, leading to rework and human errors. Civils.ai’s innovative approach promises to save construction companies up to 20% in costs by automating complex documentation processes.

KFC is pioneering a significant change in its drive-thru services by introducing AI chatbots at five locations in Sydney. This trial aims to enhance the ordering process, offering customers a seamless and efficient experience. The AI chatbots are currently being tested at South Penrith, Frenchs Forest, Wetherill Park, Minto, and Mt Druitt. Customers still have the option to speak to a human employee if they prefer, ensuring flexibility and personal choice.

The UK-based multinational Informa announced a partnership with Microsoft, granting the tech giant access to advanced learning content and data. This collaboration, aimed at exploring AI applications, has raised eyebrows within the academic community. Informa, the parent company of Taylor & Francis, has a vast repository of academic and technical books and journals. However, the authors of these works were neither informed nor given the opportunity to opt-out of this arrangement, sparking a wave of discontent.

IBM's second-quarter revenue exceeded analysts' expectations, driven by a notable increase in AI-related spending from clients eager to adopt new technologies. The company's strategic focus on expanding its Watsonx platform, which facilitates the deployment of chatbots and enhances AI programs, has been a significant factor in this growth. Additionally, making its Granite family of AI models open-source has helped popularize IBM's AI services. This surge in AI investment has led IBM to raise its annual growth forecast for its software business, highlighting the growing demand for AI integration across industries.nd

The New Zealand government recently announced a significant step forward in integrating artificial intelligence into classrooms. Science Minister Judith Collins envisions a future where every student has access to their own AI tutor. This initiative aims to democratize access to personalized tutoring, helping students with subjects their parents may not be proficient in, such as math and science. While the ambition is clear, the implementation details and potential impacts on teachers and learners remain uncertain. The concept of AI in education is not new, but recent advancements have rekindled interest and promise.

Japanese supermarket chain AEON has made headlines by implementing an innovative AI system designed to measure the smiles and attitudes of its customer-facing employees. Unveiled on July 1, AEON claims to be the world’s first company to use such technology across its 240 stores nationwide. This new system, aptly named "Mr Smile", was developed by InstaVR, a Japanese tech firm, and aims to enhance customer service by standardizing employee attitudes. The company’s ambitious goal is to improve service quality and ensure consistent customer satisfaction throughout its extensive retail network.

As the buzz around artificial intelligence reaches new heights, many companies are eagerly showcasing their AI product roadmaps. This surge in interest is driven by the rapid advancement of generative AI technologies, which can create text, images, sounds, and video. However, with this excitement comes the challenge of distinguishing between genuinely lucrative AI investments and those that are merely riding the hype wave. Major players like Microsoft and Nvidia have already demonstrated revenue streams from generative AI, setting a high bar for emerging companies. Investors must navigate this landscape carefully to identify which AI stocks offer real value and sustainable growth.

Insiders in the creative industry have voiced concerns over a commercial from Toys 'R' Us, which was created using an AI tool named Sora. The commercial, featuring a young Charles Lazarus and the store's mascot Geoffrey the Giraffe, has been described as full of inconsistencies. Critics argue that while the ad aimed to narrate a story, it ended up feeling more like a disjointed shopping list. This has sparked a fierce debate on the effectiveness of AI in creating emotional connections through advertising.

Last month at Cannes Lions, Havas introduced its AI-powered operating system, Converged OS, aimed at optimizing the entire spectrum of advertising activities from media planning to creative rollout. Despite its subdued reception in Australia, leadership within Havas is confident that this new technology will provide a competitive edge, even amidst strong offerings from giants like Publicis and WPP.