Good morning. We hope your 4th was bursting with as much excitement as the fireworks, and that you didn’t party so hard that you’re seeing stars in the daytime. Let’s gently nurse that post-July 4th hangover with some refreshing news and insights in this edition - no loud noises, we promise!

In today’s newsletter:

• 🏥 Iodine & OpenAI Team Up: Transforming Healthcare with AI-Enhanced Documentation

• 🖥️ Hive Blockchain's Shift: Crypto Miners Turn to Powering AI

• 🗽 NYC Takes the Lead: AI Hiring Laws in Action

• 🌌 Celestial AI's $100M Boost: Breaking Memory Walls with Photonics

• 🔍 Google’s AI Fuel: Public Data for Next-Gen AI Products

• 🎓 ZuAI's AI in Education: Personalized Learning for India’s Students

 NEWS

Iodine Software and OpenAI: Revolutionizing Healthcare with AI-Powered Documentation

Iodine Software, a company based in Austin known for its tech designed to boost clinical documentation, coding accuracy, and revenue cycle management, is taking a big step forward. It's expanding its partnership with OpenAI with plans to weave the latest GPT-4 language model into its existing AI technologies and datasets. The focus is on its AwareCDI product suite, which is designed to ramp up the performance of clinical documentation improvement (CDI) teams and drive mid-cycle revenue, says Iodine CEO William Chan.

To grasp the importance of this move, you need to know what CDI is. Clinical Documentation Improvement is a process healthcare providers use to make sure medical records are accurate and complete. It's vital because it affects both the quality of patient care and the financial health of the institution. Clinicians often spend a big chunk of their day on administrative tasks, including hours of clinical documentation. This can lead to gaps or inaccuracies in the records, which can affect clinical quality and reimbursement, potentially causing providers to lose out on crucial revenue.

Iodine's software aims to tackle this issue by spotting inconsistencies between clinical evidence and documentation, tracking post-discharge and pre-bill records, and promoting better collaboration between clinicians and CDI teams. The integration of GPT-4 into the AwareCDI suite is expected to boost the software's capabilities, especially in areas like predictive analytics, clinical automation, and streamlining the physician query process. This is a big deal because the efficiency of AI generally depends on the data it's trained on. Advanced AI models like GPT-4 can increase their predictive power by training on robust datasets, like Iodine's, which includes more than 27% of all U.S. inpatient data.

The potential impact of this development is huge. By harnessing the power of AI, healthcare providers can streamline administrative tasks, improve the accuracy of clinical documentation, and optimize revenue management. This could not only help reduce clinician burnout but also improve patient care and the overall efficiency of healthcare institutions. Plus, the integration of advanced AI models into healthcare tech sets a precedent for future innovations, opening up a world of possibilities for the use of AI in healthcare. As we keep dreaming and innovating, we can look forward to a future where AI plays a bigger and bigger role in improving healthcare outcomes.

NEWS

Hive Blockchain's Pivot: From Crypto Mining to Powering AI Workloads

In the ever-evolving world of technology, adaptation is a survival strategy. Hive Blockchain, once a major player in Ethereum mining with its 38,000 graphics cards, exemplifies this adaptability. As the crypto market's tides shifted, Hive embarked on a transformative journey, pivoting from cryptocurrency to the burgeoning field of artificial intelligence. This shift represents a fundamental change in computational tasks, from the parallel processing required for Ethereum mining to the more diverse computational demands of AI workloads.

Ethereum mining and AI workloads, while both computationally intensive, demand different types of processing power. GPUs, with their ability to handle multiple tasks simultaneously, are ideal for the parallel processing required by Ethereum mining. AI workloads, on the other hand, require a mix of parallel and sequential processing. While GPUs are still used in AI, especially in deep learning, other hardware types like Tensor Processing Units (TPUs) and Application-Specific Integrated Circuits (ASICs) are also commonly used. Hive's pivot, therefore, is not just a shift in business model, but a reorientation of its computational resources.

The journey of transformation is not without its challenges. Hive reported a net loss of $236.4 million in fiscal 2023, a significant downturn from the net income of $79.6 million in the previous fiscal year. However, this is a snapshot of a journey still in progress. Hive's shift in focus could potentially open up new opportunities, offering AI services to a wide range of customers. Unlike OpenAI, which creates large language models (LLMs), Hive is offering its GPU resources for rent, providing computational power to those who need it.

Hive's transformation could be a harbinger for other firms in the crypto sphere. As the crypto market continues to fluctuate and the demand for AI resources grows, other companies may also consider pivoting towards AI. This shift could lead to a new landscape where former crypto mining firms become key players in providing the computational power needed for AI workloads. This transformation, while challenging, underscores the vast potential of AI and its growing influence across various industries.

RAPID-FIRE AI NEWS

🗽 New York City Enforces First City-Based AI Hiring Laws

Starting this week, New York City will enforce Local Law 144, a first-of-its-kind city-based regulation on the use of artificial intelligence in hiring decisions. The law mandates that employers using automated employment decision tools must conduct annual audits for bias and inform applicants about the use of such tools. This law, which applies to workers and applicants both within and outside New York City for jobs to be performed in the city, could potentially set a precedent for AI regulations in other cities and states.

🌌 Celestial AI Secures $100M to Advance Photonic Fabric Tech

Celestial AI has raised $100 million in a series B funding round for its Photonic Fabric technology platform, a significant advancement in optical connectivity performance. The platform is designed to address the "memory-wall" challenge faced by cloud service providers and hyperscale data centers due to the interdependence of memory scaling and computing. Celestial AI's proprietary Optical Compute Interconnect (OCI) technology enables the disaggregation of scalable data center memory and accelerated computing, aiming to improve system efficiency and reduce costs.

🔍 Google's New Privacy Policy: Public Data Fuels AI Development

Google has updated its privacy policy to allow the use of publicly available information in the creation and training of AI products. This change, effective from July 1, signifies the tech giant's increased focus on AI, with public search behavior potentially playing a key role in its development. While this update does not directly affect user experience or Google products at present, it does hint at Google's future AI plans, including AI shopping experiences, Google Lens features, and a text-to-music generator.

🎓 ZuAI: Revolutionizing Education with Personalized AI Learning

ZuAI, a Bengaluru-based generative AI startup, has secured INR 4 Cr (~500k USD) in seed funding led by Prime Venture Partners, aiming to provide personalized learning experiences to Indian students. The platform, which is accessed by over 4,500 students daily, primarily from grades 7 to 10, plans to expand its services to more than 100 million students in the next three years. In addition to offering adaptive learning experiences across various subjects, ZuAI is developing tools to generate study lectures within five minutes on any topic and adaptive test series to track student progress.

DV DISCOVER AI TOOLS

• Prompt Genie: AI tool to help you write better prompts (link)

• Cassette AI: Tool for creating royalty-free music based on your thoughts (link)

• Superusappr: AI copilot for visual idea mapping and expanding ideas (link)

Our database of all the best AI tools mentioned in our newsletter:

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