Google is increasing its investment in Anthropic, the creators of Claude AI, with a $2 billion commitment. The investment will be made in two payments of $500 million and another of $1.5 billion. This is a significant increase from the $400 million Google invested in Anthropic in February. Amazon has also committed to investing $4 billion in Anthropic. The investment is part of the ongoing AI arms race between Google, Microsoft, and Amazon.

Shutterstock has integrated a new generative AI tool called Creative AI into its library of over 700 million images, allowing users to create customized AI-generated works that are appropriately licensed. The tool leverages technology developed by OpenAI, allowing users to generate new images and edit and change images already in the Shutterstock library. New features in Creative AI include Magic Brush, variations, and image expansion. While Creative AI is free to use, users will need a subscription plan to purchase the final image.

Fashion enthusiast Colby Mugrabi is set to launch a new clothing line called Mmerch next year, which will incorporate AI and blockchain technologies to create unique, tech-savvy hoodies. The line will feature 960 limited-edition hoodies with six key components, ten contrasting prints, and two materials, all crafted through the use of generative algorithms. Each hoodie will be connected to a non-fungible collectible, granting access to a physical version for everyday wear, and will come equipped with a QR code that acts as a gateway to an NFC chip. The line aims to offer fashion items with extra value that extends beyond the point of purchase, setting a high standard during a time when economies of scale confine conventional manufacturing workflows.

Qualcomm is preparing to launch its third-generation Snapdragon 8 chip, which boasts improved performance and a significant advancement in on-device AI capabilities. The chip's powerful AI engine can support high precision in local AI models and run local large-language models of over 10 billion parameters.

A team of researchers from the Australian National University, the University of Oxford, and the Beijing Academy of Artificial Intelligence have created a new AI system called "3D-GPT" that can generate 3D models from text-based descriptions. The system uses multiple AI agents that each focus on a different part of understanding the text prompt and executing modeling functions.

Microsoft's CEO Satya Nadella has announced plans to integrate artificial intelligence (AI) into all of the company's customer solutions and every layer of its tech stacks. In his annual letter to shareholders, Nadella emphasized that the next generation of AI will reshape every software category and every business, including Microsoft's own.

Universal Music Group (UMG) has filed a lawsuit against artificial intelligence developer Claude Anthropic, marking the first major lawsuit in the music industry against an AI developer. UMG is seeking $75 million in compensation. Concord Music Group, ABKCO, Worship Together Music, Plaintiff Capital CMG, and other companies listed as publishers have also filed lawsuits against Anthropic, accusing the AI developer of using songs from artists they represent in their AI model dataset without permission.

On October 18th, Cerebrum Tech, a solution provider for generative AI, gaming, and Web3, announced that it has completed a $1.8 million funding round at a valuation of $15 million. Boğaziçi Ventures led the round with participation from Inveo Ventures Coinvestment.

Baidu, a major search engine company in China, has released an upgraded version of its AI chatbot, Ernie 4.0, which competes with OpenAI's ChatGPT. Baidu's CEO, Robin Li, announced at the company's annual technology conference in Beijing on October 17, 2023 that the launch of the new version of Ernie 4.0 could lead to a new round of economic growth. Although the general public cannot yet access the latest version of Ernie 4, Li claims that it is as good as OpenAI's ChatGPT 4. Baidu has been gradually transitioning into an internet service company specializing in AI-related services since the launch of its generative AI chatbot, Ernie, in August 2023.

According to the Mercer CFA Institute global pension report, pension funds could benefit from using artificial intelligence (AI) to reduce costs, increase investment returns, and identify potential risks. AI could help fund managers analyze large amounts of data to uncover opportunities and create custom investment portfolios. It could also be used to personalize marketing and outreach efforts based on members' communication patterns. However, there are still challenges to overcome, and AI tools may generate fake or misleading information. The report also emphasized the need for strong defenses against cyberattacks and other security breaches.