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  • 🚀 New Groundbreaking Voice AI, Figma Stops AI, Cohere Raises $500M

🚀 New Groundbreaking Voice AI, Figma Stops AI, Cohere Raises $500M

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Michael Beer & Himanshu Maggu
July 23, 2024

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Welcome back! This is The AI Takeover, read this daily so you don’t get left behind by AI! In todays newsletter:

- 🚨 🚀 Cohere's Value Rockets to $5.5B After Fresh Funding
- 🚨 🗣️ ElevenLabs Turbo 2.5: Global AI Voice
- 🚨 🎨 Figma Pauses AI: Originality Concerns

NEWS
🚀 Cohere's Value Rockets to $5.5B After Fresh Funding

Cohere, the Toronto-based artificial intelligence startup specializing in advanced large language models, has achieved a remarkable $5.5 billion valuation after securing $500 million in a Series D funding round. This substantial investment will bolster Cohere's development of sophisticated, enterprise-grade AI technologies designed to revolutionize business operations worldwide. Notable participants in this funding round include PSP Investments, Cisco, Fujitsu, AMD Ventures, and Export Development Canada (EDC).

NEWS
🗣️ ElevenLabs Turbo 2.5: Global AI Voice

ElevenLabs' groundbreaking Turbo 2.5 model revolutionizes conversational AI, offering high-quality, low-latency text-to-speech for an unprecedented 31 languages. This expansion covers 80% of the global population, including major languages like Hindi, French, Spanish, and Mandarin. Notably, it introduces support for Vietnamese, Hungarian, and Norwegian. The model also enhances English processing speed by 25% compared to its predecessor, Turbo v2, marking a significant leap in multilingual AI technology. 

NEWS
🎨 Figma Pauses AI: Originality Concerns

Figma temporarily suspended its 'Make Designs' AI feature from its limited beta program after discovering it produced UI designs that excessively mimicked existing applications. The feature, which utilizes off-the-shelf AI models such as GPT-4 and Amazon's Titan, requires further development to guarantee originality. Figma plans to reintroduce the feature with enhanced quality assurance protocols, aiming to better support designers in harnessing AI for streamlined, innovative design processes while maintaining ethical standards and respecting intellectual property. 

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