In the Financial Times, Delphine Strauss suggests that artificial intelligence (AI) could need more time before it really boosts productivity. She writes: “Very little of this stuff is plug and play . . . companies have to invest a lot of resources to reconfigure their business model for this new thing,” Syverson said. “New software, regulatory issues, all that stuff has to be figured out. There is a period where the technology is around and you can see the benefits but for lots of reasons . . . productivity goes down.” John Haltiwanger, professor at the University of Maryland, agreed that … [Read more...]
Delivery Robots Coming to More Cities with Uber Eats
Uber Eats is partnering with Serve Robotics to expand its use of delivery robots from 100 in Los Angeles to 2,000 in cities throughout the U.S. and Canada. SupplyChainDive's Max Garland reports: The expansion of Uber and Serve’s partnership is a big step towards mass commercialization of autonomous delivery via robots, according to Kashani. Scale will be critical to the long-term success of companies in the space, helping them boost their volumes while tapping into efficiencies. Delivery bot executives say funding has been harder to come by than in years past, which has complicated … [Read more...]
The Mania in AI Stocks Has Arrived
Nvidia’s sales of chips used for generative AI are booming. The company delivered an impressive boost to its outlook for the next quarter. The street loves it. Shares are up 28% in pre-market trading, adding over $250 billion to the company’s market value (more than the total market value of its chief competitor AMD). If the gains hold, it would be the largest single-day increase in market capitalization for a company in history. Whether the gains are deserved or not is another question. Nvidia is the street’s preferred play in AI today, so there is a lot of hype and premium built into the … [Read more...]
Is AI Experiencing an “iPhone” Moment?
In 2007, Steve Jobs announced the iPhone, and the revolutionary device changed not only the smartphone industry but many others as well. Now, analysts are wondering if the emergence of ChatGPT signals an "iPhone" moment for artificial intelligence. The rise of artificial intelligence is taking the tech world by storm. The technology is also making waves on Wall Street. It is early days for so-called generative AI, a form of artificial intelligence that can conjure original ideas in the form of text, video or other media. But the tool has caused a stir in companies, schools, governments and … [Read more...]
The First Victim of the AI Revolution?
Chegg, an online education company run by former Yahoo! executive Dan Rosensweig announced that its performance has been hampered by students using Chat GPT instead of Chegg's services. Richard Waters reports in the Financial Times: Dan Rosensweig has been around the tech industry long enough to recognise an important platform shift when he sees one. As chief operating officer of Yahoo, he held one of the top posts in the consumer internet when the iPhone launched the mobile computing revolution. This week, Rosensweig found himself in the middle of another tech upheaval. Online education … [Read more...]
Sega Sammy Offers $776M for Rovio
The company that gave you Sonic the Hedgehog, Sega Sammy, has made a $776 million bid for Rovio, the company best known for its Angry Birds franchise of games and movies. Leo Lewis and Tim Bradshaw report in the Financial Times: Sega Sammy, the Japanese gamesmaker behind the Sonic the Hedgehog franchise has launched a €706mn ($776mn) offer for Rovio Entertainment, the Finnish group that gave the world Angry Birds. The €9.25 a share offer values the mobile games pioneer at almost 20 per cent below the price at which Rovio went public five and a half years ago, when it debuted with a market … [Read more...]
Is the Metaverse Dead Already? Here’s Its Most Serious Problem
At the Financial Times, Jemima Kelly analyzes what has gone wrong with the "metaverse," and enthusiasm for the concept has drained away. She asks, "Where did it all go wrong?" Here is the answer she supplies, including identifying the metaverse's most serious problem: The metaverse has a couple of major problems. The first is that nobody seems to be able to agree on what it is — even the people setting themselves up as the leaders of our new fantastical future can’t seem to come up with a common definition. The likes of Zuckerberg appear to think it’s basically a VR world, offering the thrill … [Read more...]
The Cloud Slowdown Is Hurting Amazon the Most
As growth in sales of cloud services slow down, Amazon is being hurt the most by the situation. Dan Gallagher reports for The Wall Street Journal: The tech slowdown is finally hitting the cloud. The largest player might be paying the biggest price. Amazon AMZN -1.86%decrease; red down pointing triangle.com, Microsoft Corp. MSFT 0.68%increase; green up pointing triangle and Google all reported disappointing news for their respective cloud services businesses in their December quarter reports. For Amazon and Google-parent Alphabet Inc., GOOG -7.49%decrease; red down pointing triangle revenue … [Read more...]
AI SEARCH WAR BEGINS: Google and Microsoft Join AI Battle
The battle for AI-powered internet search has begun. ChatGPT's success has ignited a hostile response from the current search powerhouse, Google, and Microsoft, which owns the Bing search engine. Richard Waters reports for the Financial Times: The internet search wars are back. The emergence of AI systems capable of generating direct textual answers to questions — most notably the ChatGPT chatbot created by San Francisco-based OpenAI — has opened the first new front in the battle for search dominance since Google fended off a concerted challenge from Microsoft’s Bing more than a decade … [Read more...]
Tim Cook Tied Apple Tightly to China
In his previous role as Chief Operating Officer, current Apple CEO Tim Cook tied the company's fate to China by developing a complex supply chain within the country. Patrick McGee reports in the Financial Times: Over the past decade and a half, Apple has been sending its top product designers and manufacturing design engineers to China, embedding them into suppliers’ facilities for months at a time. These Apple employees have played integral roles co-designing new production processes, overseeing the minutiae of manufacturing until things were up and running, and keeping close tabs on … [Read more...]
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