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Today:

🚗 AI-powered parking platform raises $1.7B to progress legacy infrastructure

Read Time: 4 minutes

🚗 AI-powered parking platform raises $1.7B

Our Report: AI-powered parking platform Metropolis secured $1.7B to acquire SP Plus, and revolutionize parking. Monumental acquisitions such as this one highlight the growing influence of AI—especially in transforming conventional, legacy industries.

🔑 Key Points:

• The substantial funding round marks a significant leap towards infusing AI with parking management and has been pivotal in expanding Metropolis's footprint across North America—where they now boast over 2M parking spaces, and manage over 3,300 facilities.

• This transaction isn't merely a business expansion; it's a testament to the potential of AI in redefining the customer experience in mundane tasks like parking. Their propriety platform enables a “drive in and drive out” where users are automatically charged to their account based on computer-vision recognition systems.

• Furthermore, a collaborative venture with Uber, called Uber Park, where users pay within the app rather than city meters—highlights the growing influence of AI in parking.

• The potential expansion into other transaction domains like EV charging stations, drive-thrus, and retail, underscores Metropolis's vision to transcend the parking niche and create a ubiquitous transaction platform through AI.

🤨 Why you should care: This acquisition highlights the escalating influence of AI in modernizing/streamlining conventional industries. We’ve already seen huge advancements/adoption in warehousing, med-tech, transport & logistics, and we’ll likely see mass automation on an even grander scale in the coming decade…

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MidJourney Prompt

🎨 Artist Highlight: Tatiana Tsiguleva

🇺🇸 X/Meta scrutinized for political deep fakes

Following Google's move to label deceptive AI-generated political ads, US lawmakers have scrutinized Meta and X for lacking similar rules against AI-generated political deepfakes.

Deepfakes are becoming more commonplace and troublesome—highlighted by the Mr. Beast & Tom Hanks ads that imitated the influencers for alternative purposes without consent. How big tech and US lawmakers respond to this will literally shape the future for billions worldwide.

🎙️ An exclusive interview with OpenAI’s CTO

In an exclusive interview with Forbes, Mira Murati (OpenAI's CTO) reflects on her pivotal role in developing ChatGPT and DALL-E, significantly contributing to OpenAI's evolution from a nonprofit research lab to a booming AI product company (over $1B in revenue this year).

Her efforts have led to monumental growth, with ChatGPT amassing over 100M users within two months post-launch (the fastest-growing app in history).

🇯🇵 Japan develops their 2nd quantum supercomputer

Fujitsu and Riken have successfully developed Japan's second quantum computer, featuring 64 qubits (quantum bits), to improve quantum computing technology by minimizing errors.

This initiative is part of a global race to advance quantum computing, where companies like IBM & Google pour billions into advancing the technology (because it’s 158 million times faster than the fastest supercomputer ever).

⚡ Feature in the world’s fastest-growing AI newsletter

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🇪🇺 UN launches AI supervision protocols; collaborating with nations

📹 Google Deepmind unites researchers to monitor robot actions

🧠 An AI-powered app for reflection and human connection

💰 Amazon made over $1B with an illegal algorithm

🚗 Generating realistic driving videos with prompts

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Until next time, Martin & Arturo.