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Bridgewest Group celebrates grand opening of Global Capability Center, Bridgewest India

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Global private investment firm, Bridgewest Group, recognized for developing innovative companies in life sciences, software, and deep tech, announce the grand opening of new operational Center of Excellence in Hyderabad, India. The Global Capability Center (GCC), Bridgewest India will bring vast operational resources and economies of scale to the growing suite of portfolio companies for worldwide private equity firm Bridgewest Group.
Laxman Settipalli, General Manager and Head of Bridgewest India is the driving force behind the new Center. “The celebrations today are just the tip of the excitement and energy we have. In just a few months, we have structured our offering, put systems in place, hired our initial team, and moved into our new office in Gowra Palladium in Hyderabad. We’re seeing lots of engagement from companies and lots of interest from great local talent,” said Laxman. “Hyderabad India is recognized as India’s premier pharma, IT and innovation hub,” added Laxman.
Bridgewest India is recruiting top-level talent, spanning a multitude of expertise across technology, operations, and corporate functions. “HR, legal, R & D, marketing, sales, program management, engineering, finance, and local governance teams are customized to the business needs at hand. Performance, agility and value gives us the edge in high-growth technology and pharma sectors,” added Laxman.
Australia-based sterile injectable drug manufacturing company and Bridgewest Group life sciences company, NovaCina, is already seeing the value in partnering with Bridgewest India. “The sales and marketing talent has the right experience and mindset for NovaCina. The high-productivity is enabling NovaCina to reach more customers and achieve top-line growth at a speed and scale that otherwise would be difficult and costly,” said Tommy Broudy, Operating Partner, Bridgewest Group, life sciences portfolio.
“This is a significant milestone for our group. We are thrilled to be in Hyderabad today to inaugurate our new GCC. The demand for operational resources continues to rise across our portfolio. Bridgewest India’s suite of talent and services will be a powerful growth enabler for all of Bridgewest Group’s global portfolio companies,” said Adam Gickling, COO, Bridgewest Group.
Bridgewest Group has long been recognized for creating and growing businesses across the globe. “Our ability to empower good ideas and good people to bring forth solutions that improve our work, our health and our world, is our life’s work. The expertise, flexibility and cost efficiencies provided by Bridgewest India enable the founders and their teams to focus on their life’s passion – to transform their remarkable ideas into business success,” says Dr. Massih Tayebi, Founding Partner and Chairman of Bridgewest Group.
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EU’s new AI rules: Industry opposed to revealing guarded trade secrets

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New regulations in the European Union (EU) are set to compel companies to increase transparency regarding the data they use to train artificial intelligence (AI) systems, potentially unveiling closely guarded industry practices, reports the Times of India.
Since OpenAI, supported by Microsoft, introduced ChatGPT to the public 18 months ago, there has been a surge in public interest and investment in generative AI. This technology enables rapid generation of text, images, and audio content.
As the AI industry expands, concerns have emerged regarding how companies source data for training their models, particularly whether using content from popular books and movies without creators’ consent constitutes a breach of copyright.
The EU’s new AI Act, phased in over the next two years, mandates stricter regulations while allowing time for businesses to adjust to new requirements. Nevertheless, the practical implementation of these rules remains uncertain, notes the report.
Mandating “detailed summaries”
A contentious provision of the AI Act requires organizations deploying general-purpose AI models like ChatGPT to provide “detailed summaries” of the training data. The newly established AI Office plans to release a template for these summaries by early 2025 after consulting stakeholders. However, AI companies oppose disclosing their training data, arguing it as a trade secret that could unfairly benefit competitors if made public, the report reveals.
In the past year, major tech firms including Google, OpenAI, and Stability AI have faced lawsuits alleging unauthorized use of content for AI training. Despite US President Joe Biden’s executive orders addressing AI security risks, legal challenges regarding copyright remain largely untested, the report adds.
Backlash against OpenAI
Amid heightened scrutiny, tech companies have struck content-licensing deals with media outlets and websites. OpenAI, for instance, has partnered with the Financial Times and The Atlantic, while Google has collaborated with NewsCorp and Reddit.
Despite these efforts, OpenAI drew criticism in March when Chief Technology Officer Mira Murati declined to confirm whether YouTube videos were used to train its video-generating tool, Sora, citing potential violations of company terms and conditions.
Source: business-standard.com
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Picsart teams up with Getty to take on Adobe’s ‘commercially-safe’ AI

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Picsart and Getty Images are joining forces to develop an AI image generator exclusively trained on Getty’s licensed stock content.
According to Picsart, their AI lab is constructing a bespoke model from the ground up to power this tool. It aims to provide the platform’s paying subscribers with the ability to generate images that come with full commercial rights. This initiative seeks to address persistent concerns about potential copyright violations associated with AI-generated content. The Picsart / Getty Images generator is slated for launch later this year and will be accessible through Picsart’s API services.
This collaboration bears similarities to Adobe’s Firefly AI model, initially introduced as a prompt-based image generation tool within Photoshop last year. Adobe has since expanded its integration across various Creative Cloud applications. Adobe’s model also emphasizes commercial safety by training on stock images from Adobe’s own library, along with openly licensed or out-of-copyright content. However, questions remain about the integrity of the training data and user trust in Adobe’s approach.
Getty Images has previously ventured into commercially-focused AI products through partnerships with Bria AI and Runway, and by teaming up with Nvidia to introduce “Generative AI by Getty Images,” leveraging its extensive catalog of licensed images. Adobe’s widespread integration of the Firefly model into popular applications like Photoshop, Illustrator, Lightroom, and Express may pose a challenge for Picsart’s new offering in terms of attracting creatives away from Adobe’s established ecosystem.
Source: theverge.com
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Microsoft to delay release of Recall AI feature on security concerns

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On June 13, Microsoft announced that it will postpone the rollout of its AI-powered feature “Recall” with new computers next week due to privacy concerns. Instead, the tech giant plans to offer Recall for preview to a smaller group later, following feedback and additional testing.
Recall is designed to track various activities from web browsing to voice chats, compiling a searchable history stored on the user’s computer. This allows users to easily retrieve past actions, even months later.
Originally slated for broad availability on June 18 for Copilot+ PC users, Recall will now undergo a preview phase exclusively within Microsoft’s Windows Insider Program (WIP) in the coming weeks. This decision, as stated in a blog post by the Redmond, Washington-based company, underscores their commitment to ensuring a trusted, secure, and reliable experience for all customers.
Copilot+ PCs, introduced in May, feature advanced AI capabilities aimed at enhancing user interactions and productivity. The WIP, a platform for software testing, enables enthusiasts to preview upcoming Windows operating system features.
Microsoft intends to incorporate feedback from the WIP community before extending the Recall preview to all Copilot+ PC users in the near future.
Following the feature’s announcement, concerns over privacy were swiftly voiced on social media, with some users fearing potential surveillance implications. Elon Musk, prominent technologist and billionaire, likened Recall to a scenario from the dystopian series “Black Mirror,” highlighting societal apprehensions about the impact of advanced technologies.
Source: reuters.com

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