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Air Taxi coming to Abu Dhabi, FTC shifts focus to Microsoft, New AI Biotech startup, and Gen-Z fears replacement by AI [11-25-2024]

Converge Bio Raises $5.5M to Advance AI Solutions for Biotech and Pharma Research

Converge Bio has raised 5.5 million in a seed round to scale its product, which focuses on using AI to streamline and enhance biotech and pharmaceutical research. The company aims to address the challenge of making powerful foundational models more usable in specialized domains such as microbiology and immunology. Converge Bio's platform offers data enrichment, fine-tuning, and explainability features, aiming to be the 'everything store' for GenAI in biotech.

Source: https://techcrunch.com/2024/11/20/converge-bios-everything-store-for-biotech-llms-brings-in-5-5m-seed/


Gen Z's Fear of AI Job Displacement Clashes with CEO Confidence

A recent survey shows that 62% of Gen Z workers are worried about AI replacing their jobs within the next decade, while only 6% of CEOs share the same concern. The younger workers' anxiety stems from their vulnerability and lack of influence in decision-making processes, making them more susceptible to AI-driven layoffs. Despite this, seasoned executives and managers remain confident in their job security due to their experience and unique skills.

Source: https://fortune.com/2024/11/24/gen-z-ai-fear-employment/


FTC Investigation Raises Questions About Microsoft's Dealings with the US Government

The Federal Trade Commission is investigating Microsoft for potential anticompetitive practices, particularly in its deals with the US government. The investigation stems from a report that Microsoft's 150-billion dollar pledge to upgrade the government's digital security may have included licensing agreements that deterred customers from switching to competitors, potentially breaching antitrust laws. Legal experts and stakeholders are divided on the accountability, with some suggesting that the government could have pursued a competitive bidding process, while others see Microsoft's actions as venturing into murky antitrust territory. The investigation highlights the complexities of technology companies' relationships with government entities and raises questions about the balance between innovation and fair competition.

Source: https://www.businessinsider.com/microsoft-anti-competitive-practices-ftc-khan-biden-big-tech-2024-11


Archer Aviation Plans 2025 Launch of Air Taxi Operations in Abu Dhabi

US-based Archer Aviation plans to begin commercial air taxi operations in Abu Dhabi by the end of 2025. The aircraft has the potential to alleviate traffic congestions and reduce travel time, with plans to expand services to other emirates in the long term. The company is currently undergoing rigorous licensing approval processes to ensure safety and airworthiness. Another company, Joby Aviation, is also seeking approvals to launch air taxi operations in Dubai by 2026.

Source: https://www.thenationalnews.com/news/uae/2024/11/25/air-taxi-company-set-for-2025-abu-dhabi-launch-aims-to-be-uber-of-the-skies/


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