Qualcomm Unveils 18-Core AI Chip; Emergent AI Secures $23 Million

Qualcomm has announced the launch of an innovative 18-core processor that promises to deliver up to 80 TOPS (trillions of operations per second) in AI performance. This advanced chip aims to meet the demands of next-generation computing, positioning Qualcomm as a leader in high-performance AI hardware. The new processor is engineered to accelerate AI workloads, which will significantly enhance on-device intelligence across diverse applications, including augmented reality (AR), virtual reality (VR), and autonomous systems.

Emergent AI, a startup focused on simplifying app development through natural language processing, has successfully raised $23 million in its latest funding round. The investment was led by Lightspeed and Together Fund, with participation from Y Combinator and various angel investors. With this new capital, Emergent AI’s total funding has reached $30 million. The company plans to utilize the funds for hiring, enhancing its product offerings, and scaling its operations.

Global Tech Developments: Employment and AI Innovations

In other news, India has witnessed significant employment growth, adding 2.1 million formal jobs in July 2023. Data from the Employees’ Provident Fund Organisation (EPFO) indicates a robust recovery and increasing engagement in the formal sector, suggesting a strengthening labor market. This trend signals a positive shift for wage-earning segments in the country.

Meanwhile, financial services giants PayPal and Venmo have formed a partnership with Perplexity AI to provide select users with a complimentary $200 subscription to Perplexity Pro, available until December 31, 2025. This collaboration includes early access to Perplexity’s new AI browser, named ‘Comet,’ and aims to broaden the reach of Perplexity’s research-oriented, citation-based AI model.

In Australia, the government has introduced draft legislation that requires cryptocurrency exchanges to obtain Australian Financial Services Licenses and register with the corporate regulator. The proposed bill seeks to create new legal categories for platforms managing digital assets and custody services. While lower-risk operators may qualify for exemptions, those found in violation of the regulations could face significant penalties. The government is currently soliciting feedback on the draft legislation.

These developments highlight the ongoing evolution in the technology landscape, with significant investments and regulatory changes shaping the future of AI and digital finance.