00:00As investors navigate an increasingly uncertain market, environment, corporate earnings and company updates remain key indicators of business, health and
00:09future prospects.
00:11Here's a round-up of the latest corporate developments from overnight that could help shape your investment decisions today.
00:18A new warning about artificial intelligence from Antropic caused a stir in cybersecurity circles on Tuesday,
00:25a day after the company warned that AI models could be months away from self-replicating across the internet.
00:32In a post late Monday, Antropic raised the possibility that rogue AI could spin up a boat net, spread quickly,
00:40fight takedown attempts and even break into data centre to turbocharge its growth.
00:45Some experts said Tuesday that they shared the company's concern, although at least one said the company's appeared to be
00:51engaging in vendor as a duration.
00:54Monday's post flashed out a warning last month from Antropic CEO Daryl Almoday,
00:59who flooded open-step the idea that within the next year or even sooner, AI might be able to hijack
01:05the entire internet with a persistent boat net.
01:09Cyber security expert, who pushed back on the doomsday scenario, argued that models would be too big to move around
01:15efficiently
01:15and could not draw on enough computer power to operate independently.
01:19The company said its experiment showed medium-sized AI models with 30 million parameters or less could already perform many
01:28of the individual tasks required of self-replicating,
01:31even if they struggled to complete the entire process reliably.
01:38OpenAI illegally profits from the personal information and data minor share with ChatGBT, a mother whose two children use the
01:46chat box,
01:47alleged in a proposed class action filed in San Francisco Federal Court on Tuesday.
01:52The lawsuit filed on behalf of minors who have used ChatGBT claims the chat box is designed to collect data
01:59and information from minors,
02:01which is then used to train OpenAI's AI models.
02:04The chat box elicits information about personal problems from minors in chats full of emojis and slang that kids use.
02:13Minors can't consent to the use of their data under California Law lawsuit claims.
02:18Lawsuit wants OpenAI equity awarded to minors who use ChatGBT and the declarations that the site's terms of use are
02:26void for minors.
02:28A representative for OpenAI did not immediately respond to a request for comment,
02:33but on its website, the company says that it gives users control over whether their data is available to train
02:40other AI models.
02:41The lawsuit comes after a series of cases against OpenAI that have been filed in U.S. state and federal
02:48courts in recent months
02:49over claims that ChatGBT facilitated violence.
02:55Bank of America has been fined $1.21 billion by U.S. regulators for widespread failures to detect potential money
03:04laundering
03:05and other illicit activity, a penalty the bank said will hurt third-quarter earnings.
03:11The Treasury Department said the fine, the third largest in department history,
03:15is due to the bank's failure to report more than $5 billion in suspicious activity to the government,
03:21including $1 billion that post-national security related and other priority illicit finance risks.
03:28Treasury Secretary Scott Benson, in a statement, said financial institutions are on the frontlines
03:34of protecting our economics and national security.
03:37When a bank of its size fails to meet its anti-money laundering and sanctions obligations,
03:43the consequences extend far beyond its own walls, exposing the entire U.S. financial system
03:49to significant illicit finance risks.
03:52The Treasury said the bank prioritized its revenue in building compliance programs
03:57and overly relied on inquiries from outside parties like law enforcement
04:02and other financial institutions instead of its own internal controls.
