The single most important news this week is the massive global IT outage caused by a faulty update from CrowdStrike, underscoring the critical importance of robust cybersecurity measures for IT professionals and businesses.
TL;DR
🚀 Massive global IT outage caused by faulty CrowdStrike update.
🔐 AI advancements with Google, OpenAI, and others forming the Coalition for Secure AI.
💡 DeepL launches a new LLM, claiming superiority over Google Translate and ChatGPT.
📈 IBM’s AI consulting and software bookings more than double.
💰 Cybersecurity startup funding surged by 144% YoY in Q2 2024.
Change Summary
The technology sector is witnessing a swift evolution driven by advancements in AI and cybersecurity, contrasted starkly by significant disruptions such as the global IT outage caused by a faulty CrowdStrike update. The rapid growth in AI technologies, exemplified by the formation of the Coalition for Secure AI and the launch of DeepL’s new LLM, underscores the relentless push for innovation. This focus on AI is complemented by a burgeoning interest in cybersecurity, as seen in the substantial increase in venture funding for startups in this sector. These developments suggest a future where technological advancements will be increasingly interwoven with robust security measures.
This shift is likely to compel businesses to invest heavily in both technological innovation and security infrastructure. As AI becomes more integrated into various industries, developers and entrepreneurs must prioritize security alongside innovation to mitigate risks associated with emerging technologies. This environment will foster a landscape where constant learning, adaptation, and the implementation of advanced security protocols will be essential for businesses to stay ahead.
Change Patterns
In the recent weeks, a few prominent trends have emerged in the technology sector. The rise in AI advancements, shown through initiatives like the Coalition for Secure AI and DeepL’s new LLM, indicates a significant focus on improving AI capabilities and safety. Concurrently, the cybersecurity landscape is growing rapidly with increased funding and the addressing of significant threats, as evidenced by the CrowdStrike outage.
This trend suggests a dual approach in the industry, balancing rapid technological advancements with robust security measures. Additionally, the consistent focus on compliance and regulation indicates that upcoming changes in the technology sector will be heavily influenced by both innovation and the need for stringent security protocols.
Topic Clusters
CrowdStrike and Global IT Outage
Faulty CrowdStrike update causes one of the largest-ever IT outages A recent faulty software update from CrowdStrike has led to significant disruptions affecting hospitals, financial institutions, and various organizations globally, marking it one of the largest IT outages in history.
Outage caused by CrowdStrike’s disastrous update affected 8.5 million devices A faulty update from cybersecurity provider CrowdStrike caused a significant outage affecting 8.5 million Windows devices, impacting critical services such as hospitals and airlines.
AI Innovations and Advancements
Google, OpenAI, Microsoft, Nvidia, and others form the Coalition for Secure AI Google, OpenAI, Microsoft, Nvidia, and others have formed the Coalition for Secure AI to share best practices and open-source methodologies for secure AI deployment.
DeepL launches new LLM that ‘outperforms’ Google Translate, ChatGPT DeepL launches new Large Language Model (LLM) for translation and editing, aiming to raise industry standards by producing more human-like translations and reducing the risk of hallucinations.
IBM reports Q2 revenue up 2% YoY to $15.8B, vs. $15.6B est., and says bookings for AI consulting and software have exceeded $2B since mid-2023, vs. $1B in Q1 IBM’s Q2 revenue increased by 2% year-over-year to $15.8 billion, surpassing estimates of $15.6 billion. The company reported that bookings for its AI consulting and software have exceeded $2 billion since mid-2023.
Cybersecurity and Funding
Venture funding to cybersecurity startups grew to $4.4B in Q2 2024, up 144% YoY Venture funding for cybersecurity startups reached $4.4 billion in Q2 2024, marking a 144% year-over-year increase. Total funding for the first half of 2024 amounted to $7.1 billion, up from $4.7 billion during the same period in 2023.
OpenAI researchers reveal an algorithm by which LLMs can learn to better explain themselves to their users OpenAI researchers reveal an algorithm to improve the explanation and legibility of AI outputs.
You may also be interested in our latest edition of the EdTech industry summary of the week, which is available on the EdTech Digest website.