AI for landlords, Grok-2 unleashed, and the latest attempt at AI regulation
Aug 16, 2024
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Devin Coldeway, a resident AI expert at TechCrunch, dives into the fascinating world of AI innovations. The conversation highlights WeRide's ambitious IPO plans and EliseAI's leap to unicorn status, offering AI tools for landlords. They discuss AI's role in misinformation, particularly during elections, and the recent shutdown of fintech startups like Tally and the ill-fated Score. Additionally, they explore California's proactive AI regulation bill, SB 1047, which aims to prevent real-world crises before they unfold.
Elise AI's recent valuation as a unicorn reflects the growing reliance on AI for enhancing efficiency in property management and tenant relations.
California's SB 1047 bill emphasizes the urgent need for AI regulation while balancing innovation and ethical concerns in technology development.
Deep dives
Waymo's Hongkathon and Robotaxi Revelations
A live stream event in San Francisco highlighted an unusual problem with Waymo's RoboTaxis, where the cars would honk continuously while parking at 4 a.m., creating noise disturbances for nearby residents. This quirky situation, dubbed as the 'Great Waymo Hongkathon,' gained considerable attention, showing the unexpected challenges that accompany testing autonomous vehicles in urban environments. The anecdote illustrates the larger discourse around the growing presence of robotaxis and the implications for city life, bringing in both humor and nuance regarding the implementation of self-driving technology. The incident acts as a reminder that, while technology can offer many benefits, it can also inadvertently disrupt everyday life for residents.
Chinese autonomous vehicle startup WeRide aims to pursue an IPO in the US at a valuation of $5 billion, reflecting its desire to raise $96 million despite significant geopolitical challenges. Tariffs, export limitations, and US security concerns serve as notable risks, especially considering WeRide's operations in the US amidst ongoing tensions between China and the US. The move underscores the challenge that many international companies face in navigating roadblocks in their home markets while seeking opportunities abroad. Given the recent decline in IPOs in mainland China, WeRide’s decision marks a strategic attempt to tap into a more favorable funding environment in the US.
Elise AI's Rapid Growth and Controversies
Elise AI, which provides AI-powered property management tools for landlords, recently raised $75 million in funding, giving it a valuation of $1 billion. The chatbot-based service aims to improve communication between landlords and tenants, facilitating tasks like scheduling tours and managing maintenance requests. However, concerns about the chatbot's effectiveness and the potential for misuse in rental price fixing have raised eyebrows about the implications for tenants and the rental market. Despite these debates, the company's reach continues to expand, now targeting the healthcare sector, aiming to adapt its technology for use by health clinics.
AI Regulation: California's SB 1047 and Its Implications
California's proposed SB 1047 aims to regulate AI development at the model level, particularly focusing on large language models that are expensive to train. This bill has sparked debate, as proponents argue that preemptive regulation is necessary to prevent potential disasters associated with unregulated AI proliferation. Critics, particularly from larger companies involved in AI, express concerns that such regulations could stifle innovation and lead to companies relocating to areas with less stringent rules. The discussions surrounding this bill reflect a balancing act between encouraging innovation and ensuring responsible AI development, highlighting the complexities of government oversight in rapidly evolving technological landscapes.
This week on Equity Kirsten Korosec and Mary Ann Azevedo were joined by one of TechCrunch’s resident AI experts, Devin Coldewey. They broke down their deals of the week: WeRide, a Chinese autonomous vehicle startup, seeking an initial public offering in the United States at a $5 billion valuation, EliseAI, the company offering AI solutions to landlords, raised $75 million and became a unicorn, and Grok-2 is now available on X but it will cost you.
Then the team got into a couple recent startup shutdowns: Tally and Score. Tally was a nine-year-old fintech that helped consumers manage and pay off their credit card debt. Score was a dating app for people with good to excellent credit that was only around for a few months before it got sunsetted. And last but not least, we did a deeper dive into a California bill known as SB 1047 that is aimed at stopping real-world disasters caused by AI systems before they happen.
Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Monday, Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts.
You also can follow Equity on X and Threads, at @EquityPod. For the full episode transcript, for those who prefer reading over listening, check out our full archive of episodes over at Simplecast.
Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products.
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