Axios AI+ NY Summit: AI's rapid rise outpaces guardrails
Why it matters: AI is transforming industries and society faster than it can be regulated, creating sweeping, serious security risks, according to several speakers.
The June 4 summit hosted multiple conversations and was sponsored by BCG, Booking Holdings, Snyk, Varonis, and Workato.
Here are some key takeawayes:
WndrCo founding partner Jeffrey Katzenberg said kids' unsupervised use of the internet is "destroying a generation."
Lumen Technologies president and CEO Kate Johnson said telcos aren't innovative enough and have ceded too much ground to Big Tech.
The Weather Company CEO Rohit Agarwal said AI could help forecasters be as specific as giving guidance on what time of day to walk your dog.
Gov. Kathy Hochul (D-N.Y.) made a dig at Rep. Marjorie Taylor Greene (R-Ga.) for saying she didn't know the GOP's "big, beautiful" tax bill included a provision that would ban states and municipalities from regulating the tech for 10 years.
Lux Capital co-founder Josh Wolfe said the best way to beat China in the AI race is to "make sure every single young" person is super well-versed in AI.
Actor and entrepreneur Joseph Gordon-Levitt said there needs to be an incentive to keep creatives paid and employed as AI disrupts the entertainment business.
Content from the sponsored View from the Top conversations:
Vlad Lukić, BCG managing director and senior partner, and global leader for its tech & digital advantage practice discussed the disconnect between corporate AI investment and tangible outcomes.
According to a recent study of 1,000 companies, "Over 75% of them are with budgets in this year deploying AI at scale, but only 25% of them have a line of sight to value creation from those activities," he added.
Danny Allan, chief technology officer at Snyk, said visibility, false expectations, and proper policies are lacking behind the pace of AI-powered software development.
"The speed and velocity that software is coming through the pipelines is like nothing I have ever seen in my career right now. It's so, so fast. And the trouble that CISOs have is they don't have the trust that what is coming through that pipeline is actually secure."
Bhaskar Roy, Workato chief of AI products and solutions, said businesses will experience real transformation when AI agents tackle the "messy middle."
"There are a few companies that are targeting the core and looking at how they can transform the core with … agentic AI and that's what excites us."
Rob Sobers, chief marketing officer at Varonis, warned that security risks, like "AI model poisoning" where attackers inject malicious data into AI models, could impact people's lives.
While working with an organization researching Alzheimer's, they noticed a hacker feeding the organization's custom AI model new data out of nowhere, Sobers said. And, "that could change subtly the dosage of a medication that you're giving somebody. … It's super important to get the trust and security layer right."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
36 minutes ago
- Yahoo
While institutions invested in MA Financial Group Limited (ASX:MAF) benefited from last week's 7.1% gain, retail investors stood to gain the most
Explore MA Financial Group's Fair Values from the Community and select yours Key Insights The considerable ownership by retail investors in MA Financial Group indicates that they collectively have a greater say in management and business strategy A total of 8 investors have a majority stake in the company with 52% ownership Recent sales by insiders AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. Every investor in MA Financial Group Limited (ASX:MAF) should be aware of the most powerful shareholder groups. The group holding the most number of shares in the company, around 39% to be precise, is retail investors. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn). Following a 7.1% increase in the stock price last week, retail investors profited the most, but institutions who own 27% stock also stood to gain from the increase. In the chart below, we zoom in on the different ownership groups of MA Financial Group. See our latest analysis for MA Financial Group What Does The Institutional Ownership Tell Us About MA Financial Group? Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing. As you can see, institutional investors have a fair amount of stake in MA Financial Group. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at MA Financial Group's earnings history below. Of course, the future is what really matters. Hedge funds don't have many shares in MA Financial Group. Because actions speak louder than words, we consider it a good sign when insiders own a significant stake in a company. In MA Financial Group's case, its Top Key Executive, Andrew Pridham, is the largest shareholder, holding 19% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 11% and 8.0%, of the shares outstanding, respectively. In addition, we found that Julian Biggins, the CEO has 3.1% of the shares allocated to their name. On further inspection, we found that more than half the company's shares are owned by the top 8 shareholders, suggesting that the interests of the larger shareholders are balanced out to an extent by the smaller ones. While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future. Insider Ownership Of MA Financial Group The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group. Our most recent data indicates that insiders own a reasonable proportion of MA Financial Group Limited. It has a market capitalization of just AU$1.4b, and insiders have AU$374m worth of shares in their own names. We would say this shows alignment with shareholders, but it is worth noting that the company is still quite small; some insiders may have founded the business. You can click here to see if those insiders have been buying or selling. General Public Ownership With a 39% ownership, the general public, mostly comprising of individual investors, have some degree of sway over MA Financial Group. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run. Public Company Ownership It appears to us that public companies own 4.0% of MA Financial Group. It's hard to say for sure but this suggests they have entwined business interests. This might be a strategic stake, so it's worth watching this space for changes in ownership. Next Steps: It's always worth thinking about the different groups who own shares in a company. But to understand MA Financial Group better, we need to consider many other factors. For example, we've discovered 2 warning signs for MA Financial Group (1 is potentially serious!) that you should be aware of before investing here. If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Yahoo
HIVE Digital Technologies Ltd (HIVE) Q1 2026 Earnings Call Highlights: Record Revenue and ...
Release Date: August 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points HIVE Digital Technologies Ltd (NASDAQ:HIVE) reported a record quarter with over $45 million in total revenue, primarily driven by Bitcoin mining operations. The company achieved a significant growth in earnings per share, increasing by 206% year over year. HIVE's strategic expansion in Paraguay has been transformative, allowing the company to rapidly scale its Bitcoin mining operations. The company maintains a strong balance sheet with $24.6 million in cash and $47.3 million in digital currencies. HIVE's focus on renewable energy and sustainable practices positions it well for future growth, particularly in the AI and HPC sectors. Negative Points The volatility of Bitcoin prices poses a risk to HIVE's financial performance, as evidenced by the significant non-cash reevaluation of Bitcoin on their balance sheet. High depreciation charges due to the purchase of new GPU and ASIC chips for AI and Bitcoin buildout could impact profitability. The company's expansion and scaling efforts require significant capital investment, which could strain financial resources if not managed carefully. HIVE's growth strategy involves complex operations across multiple countries, which may present logistical and regulatory challenges. The competitive landscape in the Bitcoin mining and AI sectors is intensifying, which could pressure HIVE's market position and margins. Q & A Highlights Warning! GuruFocus has detected 7 Warning Signs with HIVE. Q: Can you provide an overview of HIVE's financial performance for Q1 2026? A: Aiden Killick, President and CEO, highlighted that HIVE had a record quarter with over $45 million in total revenue, 90% of which came from Bitcoin mining operations and 10% from their HPC AI business. The company achieved a gross operating margin of 38%, yielding about $15.8 million in cash flow from operations, and reported a net income of $35 million with $44.6 million in adjusted EBITDA. Q: How is HIVE managing its Bitcoin holdings and what strategies are in place for future growth? A: Aiden Killick explained that HIVE ended the quarter with 435 Bitcoin on the balance sheet and has a Bitcoin pledge strategy allowing them to purchase Bitcoin back at zero interest. This strategy has enabled HIVE to scale its Bitcoin mining business without dilution or taking on debt, effectively using $200 million worth of CapEx. Q: What are the key developments in HIVE's expansion efforts, particularly in Paraguay? A: Aiden Killick noted that HIVE has significantly expanded its operations in Paraguay, completing phase one of their expansion ahead of schedule. They are currently operating at over 15 exahash and are fully funded to reach 25 exahash by American Thanksgiving. This expansion is part of their strategy to maintain a 440 megawatt green energy footprint for Bitcoin mining. Q: How does HIVE's AI and HPC business contribute to its overall strategy? A: Craig Tavares, President of Buzz HPC, explained that HIVE's AI and HPC business is rapidly scaling, with a target of reaching $100 million ARR. The company operates over 5,000 GPUs and is focused on providing a full suite of infrastructure services for AI, leveraging their existing data centers and renewable energy sources. Q: What are HIVE's future plans for data center expansion and AI infrastructure? A: Craig Tavares mentioned that HIVE is expanding its data center footprint with recent acquisitions in Toronto and Sweden. These facilities will support their sovereign AI strategy and are expected to go live next year. The Toronto data center, in particular, will be a tier 3 facility leveraging liquid cooling infrastructure to support high-density GPU clusters. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
3 hours ago
- Yahoo
White House AI czar David Sacks says 'AI psychosis' is similar to the 'moral panic' of social media's early days
The White House AI advisor discussed "AI psychosis" on a recent podcast. David Sacks said he doubted the validity of the concept. He compared it to the "moral panic" that surrounded earlier tech leaps, like social media. AI can create a diet plan, organize a calendar, and provide answers to an endless variety of burning questions. Can it also cause a psychiatric breakdown? David Sacks, the White House official spearheading America's AI policies, doesn't think so. President Donald Trump's AI and crypto czar discussed "AI psychosis" during an episode of the "All-In Podcast" published Friday. While most people engage with chatbots without a problem, a small number of users say the bots have encouraged delusions and other concerning behavior. For some, ChatGPT serves as an alternative to professional therapists. A psychiatrist earlier told Business Insider that some of his patients exhibiting what's been described as "AI psychosis," a nonclinical term, used the technology before experiencing mental health issues, "but they turned to it in the wrong place at the wrong time, and it supercharged some of their vulnerabilities." During the podcast, Sacks doubted the whole concept of "AI psychosis." "I mean, what are we talking about here? People doing too much research?" he asked. "This feels like the moral panic that was created over social media, but updated for AI." Sacks then referred to a recent article featuring a psychiatrist, who said they didn't believe using a chatbot inherently induced "AI psychosis" if there aren't other risk factors — including social and genetic — involved. "In other words, this is just a manifestation or outlet for pre-existing problems," Sacks said. "I think it's fair to say we're in the midst of a mental health crisis in this country." Sacks attributed the crisis instead to the COVID-19 pandemic and related lockdowns. "That's what seems to have triggered a lot of these mental health declines," he said. After several reports of users suffering mental breaks while using ChatGPT, OpenAI CEO Sam Altman addressed the issue on X after the company rolled out the highly anticipated GPT-5. "People have used technology, including AI, in self-destructive ways; if a user is in a mentally fragile state and prone to delusion, we do not want the AI to reinforce that," Altman wrote. "Most users can keep a clear line between reality and fiction or role-play, but a small percentage cannot." Earlier this month, OpenAI introduced safeguards in ChatGPT, including a prompt encouraging users to take breaks after long conversations with the chatbot. The update will also change how the chatbot responds to users asking about personal challenges. Read the original article on Business Insider Solve the daily Crossword
