5 things about AI you may have missed today: EU official warns against AI paranoia, Visa to invest in gen AI, more

tech.hindustantimes.com:

Today was an interesting day for artificial intelligence developments. A senior official of the European Union (EU), Vera Jourova, has warned that the bloc's upcoming legislation on AI should not be based on paranoia of the technology, as it can lead to too restrictive regulations and hamper the growth of AI. In other news, Visa has revealed its plans to invest $100 million in companies that are focused on generative AI. This and more in today's AI roundup. Let us take a closer look.

Vera Jourova, the European Commission's vice-president for values and transparency, told the Financial Times that the fear of a dystopian future and paranoia of the emerging tech should not be the basis for finalizing the regulations around AI. Jourova is also one of the two commissioners who are overseeing the enactment of the AI Act.

“There should not be paranoia in assessing the risks of AI. It always has to be a solid analysis of the possible risks. We should not mark as high-risk things which do not seem to be high-risk at the moment. There should be a dynamic process where, when we see technologies being used in a risky way we are able to add them to the list of high risk later on,” she said.

Visa has revealed its big plans of wanting to invest in companies that are actively working on generative AI, according to a report by Bloomberg. Visa is particularly interested in companies that are building tools for how commerce may be conducted in the future with the effect of AI.

“With generative AI's potential to be one of the most transformative technologies of our time, we are excited to expand our focus to invest in some of the most innovative and disruptive venture-backed startups building across generative AI, commerce and payments,” David