IBM Debuts Advanced Cold Storage for Cryptocurrencies

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IBM releases state-of-the-art cold storage solution for the security of cryptocurrency

The new AI Alliance was introduced by the two tech companies on Tuesday, working with over fifty founding members from various tech and academic institutions, including AMD, Cerebras, Anyscale, Cornell University, Dartmouth College, Dell, Stability AI, and Oracle. OpenAI, Microsoft, Google, and AWS are conspicuously absent from the alliance’s membership list.

The AI Alliance, however, according to IBM, seeks to establish an open community that will hasten responsible AI innovation while maintaining scientific rigor, trust, safety, security, and economic competitiveness.

A Partnership for Transparency

Launching the AI Alliance came after a year of increased innovation in AI, with the widespread consumerization of generative AI and rising interest in open-source tools like Meta’s Llama 2.

In an interview, IBM’s Director of AI Open Innovation Anthony Annunziata stated, “The history of AI is full of the importance of open innovation, open science, research, and open-source technologies.” “We think that openness is necessary for AI to be safe, trustworthy, and beneficial to society. We brought in people to help with resource building, focussing, and open building.”

According to Annunziata, the AI Alliance’s primary focus is on safety and trust to guarantee that its openness aim is achieved. The working group for the safety and trust alliance has already begun meeting. “We’re going to meet regularly, [and] we’re going to identify priorities and existing tools,” Annunziata told reporters.

He also mentioned that other working groups aimed at developing fundamental technologies and tools will be established shortly. To run the entire program, they will include a steering committee and a working group on advocacy and public policy. According to Mark Beccue, an analyst with Futurum Group, forming a working group is a wonderful method to make sure the AI Alliance is effective. “You will complete tasks if you work in working groups. If not, you’re merely staring at one another,” he remarked.

Benefits and Drawbacks of Open Source

There are benefits and drawbacks to supporting open source, Beccue added. “When open source is a viable option, it creates competition,” he stated. However, there are drawbacks to open source in the computer industry.

The fact that open source isn’t always safe is one of its weaknesses. Businesses that require technology that is highly guarded may decide to take a different approach. Furthermore, while solutions developed in the open-source community lack the backing of business software, they also lack the price tag.

“It assumes that a lot of enterprises are going to have experts that can look through all of the open-source stuff and be able to use it correctly,” Beccue stated. He went on to say that rather than using only open-source or closed-source technologies, many businesses are probably going to utilize a mix of the two.

Meta and generative AI

Professor Chirag Shah of the University of Washington Information School stated that although the AI Alliance would promote the supervision of open-source AI technologies, it might also provide Meta with an opportunity to highlight its distinctions from top generative AI firms like Microsoft, Google, and AWS.  “The cynical way to look at this is that Meta missed this opportunity to be at the forefront of AI,” Shah stated. “So, they’re kind of getting others to sign up with them collectively.”

Microsoft, AWS, and Google are linked to several coalitions or organizations that emphasize the responsible application of artificial intelligence. Microsoft, for instance, collaborates with OpenAI, a research vendor whose initial goal was the responsible use of open-source AI tools.  Google participates in the Partnership on AI, which seeks to answer issues related to artificial intelligence’s future. IBM, Microsoft, and Meta are also included in that group.

“I don’t see what benefit [Google, Microsoft, or AWS] will derive by signing up for AI Alliance,” Shah stated. “It’s yet another thing, and it’s heavily run by Meta.” Furthermore, he stated that Meta and IBM may rely on the AI Alliance to be relevant in the market, as the AI space is expected to be dominated by one or two companies that businesses currently employ.

“It would be great if we do have this kind of alliance which focuses on doing things that are responsible,” Shah stated. One of the suppliers who joined the collaboration is ServiceNow, a provider of digital workflow solutions. Jeremy Barnes, vice president of product AI at ServiceNow, claims that one of the main motivations for joining was the vendor’s ongoing efforts to listen to clients and provide them with a selection of large language models that suit their requirements.

Barnes stated, “It’s all about choice and transparency.” “GenAI is a game-changing technology that will significantly impact how businesses operate in the future. Our involvement demonstrates that we’re not going to handle these crucial generative AI features on our own.” Requests for response from Microsoft and Google were not immediately answered.

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