Welcome to Daily Zaps, your regularly-scheduled dose of AI news ⚡️ 

Here’s what we got for ya today:

• 🍎 Apple Intelligence and AI hallucinations

• 🔎 FTC will scrutinize AI

• 🧑‍🎓 AWS debuts 2 AI certifications

• 📈 OpenAI revenue doubles to $3.4B

Let’s get right into it!

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BIG TECH

Apple Intelligence and AI hallucinations

Apple CEO Tim Cook acknowledges that the company's new AI system, Apple Intelligence, might produce false or misleading information, and it's unlikely to be 100% accurate. Despite thorough preparation, Cook admits the system's quality isn't guaranteed to be perfect. Unveiled at the Worldwide Developers Conference, Apple Intelligence introduces AI features for the iPhone, iPad, and Mac, such as generating email responses and summarizing text.

AI hallucinations remain a risk, as seen with other AI systems like Google’s Gemini. Apple is partnering with OpenAI to integrate ChatGPT into Siri, which will ask users for permission before using the chatbot. Cook praises OpenAI for its privacy focus but hints at potential future collaborations with other AI developers, including Google Gemini.

GOVERNMENT

FTC will scrutinize AI

FTC Chair Lina Khan announced that the agency will scrutinize AI technology comprehensively, ensuring fair competition for startups without stifling them with excessive regulation. The FTC aims to maintain open pathways for commerce, allowing businesses to succeed based on their ideas and talent rather than their threat to large companies.

While the agency is attentive to potential harms, like voice-cloning fraud, it also encourages market solutions to detect and prevent AI-related fraud. Despite challenges in policing AI, the FTC is leveraging innovative tactics and increasing its technological expertise. Additionally, the FTC is vigilant about ensuring genuine openness in AI and preventing deceptive advertising and exaggerated claims about AI products.

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CAREER DEVELOPMENT

AWS debuts 2 AI certifications

AWS is introducing two new certifications in AI, machine learning (ML), and generative AI, alongside a range of free and low-cost training programs. These certifications aim to help professionals boost their salaries by up to 47% and prepare for in-demand jobs in the cloud technology space. The AWS Certified AI Practitioner is a foundational certification for those from various backgrounds, while the AWS Certified Machine Learning Engineer – Associate targets individuals with at least one year of AI/ML experience on AWS.

AWS’s initiative includes digital training resources and interactive, game-based learning to help learners acquire these valuable skills. Registration for the beta exams of the new certifications opens on August 13, and AWS aims to provide AI skills training to 2 million people globally by 2025.

STARTUPS

OpenAI revenue doubles to $3.4B

OpenAI's annualized revenue has surged to $3.4 billion, doubling in the past six months, highlighting rapid business growth despite increasing competition. This growth is mainly driven by subscriptions and API access fees, with a smaller portion from Microsoft Azure sales.

OpenAI was valued at about $86 billion in a recent share sale, and its revenue rate far exceeds rivals like Anthropic and Cohere. Upcoming product launches, including a search engine and AI-powered software, could further enhance OpenAI's revenue. Apple's integration of ChatGPT may also contribute to future growth.