Google-backed AI startup Runway has released Gen-2, an early entry among commercially available text-to-video models. Previously waitlisted in limited release, the commercial availability is impactful, since text-to-video is predicted as the next big bump in artificial intelligence, following the explosion of AI use generating text and images. While Runway’s solution may not be ready to serve as a professional video tool, this is the next step in development of tech expected to impact media and entertainment. Filmmaker Joe Russo recently predicted that within the next two years, AI may have the ability to create feature films. Read more

Sam Altman continues to call for coordinated international regulation of artificial intelligence. The OpenAI co-founder and CEO visited Seoul this past weekend to meet with South Korean President Yoon Suk Yeol, who issued a statement saying it is important to act “with a sense of speed” in establishing international standards or face unwanted “side effects.” Altman also virtually delivered a keynote address to Chinese AI researchers at an annual conference hosted by the Beijing Academy of Artificial Intelligence, calling on China to participate in global rulemaking. Read more

U.S. senators on June 8 introduced two new bipartisan bills with implications for AI, one focused on artificial intelligence, the other more generally on emerging technologies. The first is an accountability act that would require the U.S. and its agencies inform people when AI is used in government interactions. The second bill, the Global Technology Leadership Act, seeks to establish an Office of Global Competition Analysis (OGCA) that evaluates “competitiveness in technology and innovation sectors critical to national security and economic prosperity relative to other countries,” with emphasis on “strategic competitors.” Read more

Following nine months of difficult repositioning that included layoffs and consolidation as Meta Platforms segued to its “year of efficiency,” CEO Mark Zuckerberg recently shared his plans for the company’s future with employees at an all-hands meeting. In a discussion that has been reported as an effort to help bolster staff morale during this challenging period, Zuckerberg explained his strategy regarding job cuts, offered insight on the tech giant’s approach to artificial intelligence, and took a swipe at Apple’s upcoming Vision Pro mixed reality headset while talking about his goals for VR and the metaverse. Read more

Meta Platforms previewed its in-development Twitter rival, called Project 92, for staff last week. Chief product officer Chris Cox demoed the decentralized app, which the company plans to launch through Instagram. Meta received feedback from creators and high-profile figures indicating they want “a sanely run” platform. Project 92 — also referred to internally as “P92” or “Barcelona” — bears similarities to Twitter but unlike that closed system will interoperate with other decentralized social apps like Mastodon and Bluesky. Although a specific timeline wasn’t shared, Cox reportedly said Meta plans to launch P92 “as soon as we can.” Read more