The Download: AI can run your admin department now

From accounting to design, market research, and product development, running a business requires a staggering breadth of skills. While large companies can afford to hire experts to handle these tasks, small businesses often don't have that luxury. That's where AI comes in.

Today's models can already take on a range of basic administrative work, from organizing notes and summarizing meetings to invoicing, goal-setting, and social media planning. For small-business owners looking to streamline their operations, AI can be a game-changer. In other news, Anthropic has confidentially filed for an initial public offering (IPO), potentially beating rival OpenAI to the public markets.

According to reports, Anthropic aims to go public as early as this fall, although the company did not disclose its target valuation. This move could have significant implications for the AI industry, with the WSJ noting that beating OpenAI in the IPO race could have a big impact. The European Union may also be taking steps to reduce its dependence on US tech, potentially excluding giants like Amazon, Microsoft, and Google from critical contracts.

This move comes as the EU aims to boost its own tech sovereignty, a push that was supercharged during the Trump administration. In regulatory news, Florida has become the first state to sue OpenAI, citing alleged child safety risks associated with ChatGPT. The lawsuit claims that OpenAI prioritized profit over safety, highlighting growing concerns about the potential risks of AI.

Finally, hackers have demonstrated the vulnerability of AI-powered support systems, stealing Instagram accounts by simply asking Meta AI for them. This exploit shows the risks of offloading support to AI and highlights the need for robust security measures in AI-powered systems.