• PhonePe has called off its deal to acquire ZestMoney due to due diligence concerns.
• According to sources privy to the developments, issues such as lapses in due diligence, disagreements over valuation, sustainability of the business, and shareholding structure of ZestMoney were some of the reasons for the talks not fructifying.

• Google has denied that it copied ChatGPT to create its own AI chatbot Bard.
• Google is offering early access to Bard as an experiment for users to collaborate with generative AI.

• Fintech unicorn Slice has grown its revenue four-fold in FY22.
• This was due to a strong lending play and a massive $220 million funding round.
• Slice’s operating scale increased 4.18X to Rs 283.08 crore during FY22 from Rs 67.7 crore in FY21.
• Slice’s marketing costs have increased 34X.

1/The call for a 6 month moratorium on making AI progress beyond GPT-4 is a terrible idea.

I'm seeing many new applications in education, healthcare, food, … that'll help many people. Improving GPT-4 will help. Lets balance the huge value AI is creating vs. realistic risks.

2/There is no realistic way to implement a moratorium and stop all teams from scaling up LLMs, unless governments step in. Having governments pause emerging technologies they don’t understand is anti-competitive, sets a terrible precedent, and is awful innovation policy.

3/Responsible AI is important, and AI has risks. The popular press narrative that AI companies are running amok shipping unsafe code is just not true. The vast majority (sadly, not all) of AI teams take responsible AI and safety seriously.

4/A 6 month moratorium is not a practical proposal. To advance AI safety, regulations around transparency and auditing would be more practical and make a bigger difference. Let's also invest more in safety while we advance the technology, rather than stifle progress.

Originally tweeted by Andrew Ng (@AndrewYNg) on March 29, 2023.