Zerodha CEO outlines AI rules, Google co-founders win $18 billion as AI boosts equities, and more

  This weekend in AI: Zerodha CEO outlines AI rules, Google co-founders win $18 billion as AI boosts equities, and more

Google co-founders profit by $18 billion when the stock rises due to AI.

According to the Bloomberg Billionaires Index, Sergey Brin's net worth jumped by $8.9 billion to $102.1 billion this week, while Larry Page's increased by $9.4 billion to $106.9 billion. Since February 2021, that was their largest weekly increase.

Google said on Wednesday at its annual developer conference that it would begin testing a more conversational search engine and has expanded the availability of its AI-powered chatbot. This aids the business in establishing dominance in an industry that is becoming more competitive. Alphabet Inc.'s parent company's stock increased by roughly 1% in New York on Friday after rising by 8.6% over the previous two days through Thursday.

Google’s former chief executive officer, Eric Schmidt, is another beneficiary of the AI boom. He’s invested in many startups in the field and has rejected public calls to slow down the speed of research, citing concerns over China’s advances in tech.

Zerodha CEO Nithin Kamath clears the air on AI policies

The CEO of online brokerage startup Zerodha, Nithin Kamath, has posted a number of tweets detailing the company's position on AI and job loss.

Kamath started off by stating that Zerodha has developed an internal AI policy to provide its staff clarity. He reassured his colleagues that no one would be laid off because of a new technology that rendered their position unnecessary.

Kamath also shared his opinions on how AI would affect society. He admitted that AI had the potential to worsen wealth inequality and disrupt employment. He identified the existing economic and capitalistic systems as the main causes of this disparity.