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Abridge, Whose AI App Takes Notes for Doctors, Valued at $5.3 Billion at Funding
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What's up: U.S. tells companies to prepare for Iranian cyberattacks; Tesla's robotaxis are here; a U.S.-made phone for $1,999.
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Abridge co-founder and Chief Executive Dr. Shiv Rao Photo: Abridge
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Good morning. It's getting to where nearly every sector—from financial services and life sciences to the skilled trades—is starting to be transformed by generative AI.
Gaining traction in healthcare is a new crop of startups offering so-called ambient-listening tech, which tunes in to the exchanges between doctor and patient and then transcribes the conversations.
On Tuesday, one of those startups, Abridge, which automates doctors’ note-taking with artificial intelligence, announced that it had raised $300 million in funding.
The round, led by venture-capital firm Andreessen Horowitz with participation from Khosla Ventures, values the startup at $5.3 billion. In February, Abridge raised $250 million at a valuation of $2.75 billion.
Abridge’s technology is now used in over 150 large health systems nationwide, the startup said, expanding from just a handful a few years ago when the Pittsburgh- and San Francisco-based startup was still piloting its technology, said co-founder and Chief Executive Dr. Shiv Rao.
“Since then, we’ve seen healthcare take up generative AI-centered solutions faster than any other industry,” he said. Read the story.
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Content from our sponsor: Deloitte
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Effective Strategies for Turning Cyber Risk Data Into Business Insights
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Dashboards that slice and dice outcome-oriented cyber risk metrics in an easily digestible way can help effectively translate “cyber speak” to “business speak.” Read More
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Iran-linked hackers broke into systems at a water plant in Aliquippa, Pa., in 2023, defacing the screens of some equipment with anti-Israeli propaganda, according to U.S. officials. Photo: Municipal Water Authority of Aliquippa/Associated Press
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The U.S. government and state regulators warned companies to watch for cyberattacks linked to the conflict with Iran, urging them to bolster their defenses, WSJ Pro Cyber reports.
Iran’s cyber offensives are often geared more toward disinformation and psychological operations, and don’t display the advanced tradecraft of China or Russia, said Brandon Wales, former executive director of the Cybersecurity and Infrastructure Security Agency.
“They’re getting better, and they’ve demonstrated the ability to exploit vulnerabilities very quickly once they are identified. But their tactics tend to be more easily stopped by competent security programs,” said Wales, vice president of cybersecurity strategy at SentinelOne.
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A Tesla robotaxi in Austin, Texas, on Sunday. Photo: Tim Goessman/Bloomberg News
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Tesla rolled out its robotaxi service in Austin to a select group of invitees on Sunday, opening the electric-vehicle maker to the growing autonomous ride-hailing market, where its technology will be put to the test against market leader Waymo. But it might have to address some issues first. Already riders are posting videos of robotaxis appearing to violate traffic laws, Bloomberg reports.
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Ford Motor still faces difficulties obtaining magnets made with rare-earth elements, despite a deal the U.S. struck with China to ease export controls, a company executive said Monday. Ford in May stopped production at a vehicle factory in the Chicago area because of a magnet shortage, the WSJ reported.
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German car-parts company Continental said it has partnered with semiconductor company GlobalFoundries to design its own computer chips for vehicles, WSJ reports.
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DHL’s Stretch robot can unload around 580 cases an hour, almost twice the rate of a human unloader. Photo: Brian Kaiser for WSJ
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Long considered the holy grail of automation, robots built to unload trucks are becoming a reality thanks to improved sensors and algorithms, advancements in AI and faster image-processing technology, WSJ reports. DHL, FedEx and Walmart are among the companies either testing or putting the robots to work.
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Speaking of holy grails…a smartphone built in the U.S. actually exists. The Liberty Phone from Purism is powered by chips made in Texas and a motherboard built in house, WSJ reports. Phones are assembled in Carlsbad, Calif. Alas, screens and batteries come from China and the rear-facing camera comes from South Korea. Also, it doesn't run on Android, but its own PureOS. But still…progress!
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