Apple launches first AI-powered iPhone

Today’s Highlights:

📰 News: Apple debuts latest iPhone that heavily features gen-AI

💰 Funding: Finally raises $50M for AI-powered accounting for SMBs

⚡️ Top News Stories:

1. Apple introduces the iPhone 16 with gen-AI features, enhancing user experience with personalized suggestions and integrations.

• Apple unveiled the iPhone 16 with built-in Apple Intelligence, an AI system enhancing Siri and offering features like message sorting and photo identification.

• The AI enables writing suggestions, personalized notifications, and content search, with more features, such as ChatGPT integration, coming later.

• Visual search, a key new feature powered by Apple Intelligence, will enable text and event recognition directly from photos.

• Apple also introduced Apple Watch Series 10 and updates to its AirPods products.

2. Google DeepMind released AlphaProteo, a new AI system that designs novel protein binders to enhance biological and health research, which can accelerate drug development, diagnostics, and even agricultural applications.

3. Weave Robotics launches and is taking preorders for Isaac, the first personal home robot designed to autonomously perform tasks like tidying and folding laundry, with aims to ship in fall 2025.

4. OpenAI announced it now has over 1M paying users across its ChatGPT Enterprise, Team, and Education products, up from 600K in April, reflecting strong corporate adoption.

5. The U.S., Britain, and EU are set to sign the first legally binding international AI treaty, the AI Convention, which addresses AI’s impact on human rights and promotes responsible AI use, and is distinct from the EU AI Act.

6. X.com agrees to stop using EU data for AI training after facing legal action from Ireland’s privacy watchdog.

💰 Top Funding News:

1. Finally, which offers AI-powered bookkeeping, accounting, and financial services for SMBs, raised a $50M Series B, led by PeakSpan Capital.

2. Sedric AI, which has developed the first compliance-dedicated LLM for the financial services sector, raised a $18.5M Series A, led by Foundation Capital, w/ Amex Ventures, StageOne Ventures, and The Garage.

3. PIN AI, which is developing an open-source, on-device AI platform that transforms smartphones into privacy-focused personal AI assistants, raised a $10M Pre-Seed round, led by Hack VC, a16z CSX, w/ Solana, Polygon, NEAR, and others.

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