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Sam Altman, CEO of OpenAI, has proposed a strategy to secure his company's leadership in artificial intelligence (AI) by calling for the construction of several 5 gigawatt power plants in the US. Altman argues that these power plants are necessary to meet the energy needs of AI companies, which are projected to use up to 9.1% of all electricity generated in the US by 2030. Altman's proposal aims to ensure that the US remains the global AI superpower and does not cede ground to China, which has already invested heavily in AI. However, there are concerns about how to pay for this infrastructure and how to ensure that the benefits extend beyond corporate interests to include civil society. Altman's proposal has sparked a debate about the role of government in supporting the AI industry and how to ensure that the AI boom benefits all Americans. [Extracted from the article]

The article explores whether software firm Adobe Inc. can compete with Midjourney and Dall-E artificial intelligence (AI) generators by launching its own AI product Firefly. Topics discussed include Adobe's aim for Firefly to be the tool for designers and businesses to use for their branding and other campaigns, the concern that Adobe will use AI to replace creatives which powered its business, and challenges facing Adobe's Firefly including copyright rules and demographic representation.

The article explores the ambiguities surrounding artificial intelligence (AI), highlighting the things that need to be sorted out about the technology, economics and power dynamics of the emerging industry. Cited are the lack of clarity on whether the rate of improvement that marked the 17 months since the release of ChatGPT will be sustained and how the enormous cost of training and running an AI model is having a significant impact on how the industry evolves.

The article discusses how generative artificial intelligence (AI) company ElevenLabs' audio technology is being used by bad actors for fraud or scam, celebrity impersonation and political manipulation. Topics discussed include ElevenLabs' tool which allows people to clone voices using audio clips, fraudsters' use of audio deepfakes to impersonate banking customers, and the concern that the technology will be used to manipulate voters in the 2024 presidential election in the U.S.

The article focuses on the market stigma carried by the green message bubble which indicates that the message was sent by non-iPhone users. Topics include common experience of people who use devices powered by Android software when communicating with iPhone users, complaint by many Android users about their dating lives and relationships with families and friends, and the pledge by Apple to make life easier for green bubblers.

ServiceNow Inc. reported strong third-quarter sales and bookings, with subscription sales increasing by 23% to $2.7 billion. The company's generative AI assistant product, Now Assist, is experiencing rapid growth, with an average contract premium of 30%. ServiceNow is also focusing on AI "agents" that can complete tasks without user supervision, with plans to release them broadly next month. The company's hiring of a leader from Google Cloud and its strong financial performance indicate its position in the enterprise software market. [Extracted from the article]

ServiceNow Inc. reported strong third-quarter sales and bookings, exceeding analysts' estimates, with subscription sales increasing by 23% to $2.7 billion. Despite this, the company's shares slid in late trading, as investors were disappointed by the lack of a bigger boost from artificial intelligence. ServiceNow is incorporating generative AI features into its products, with the fastest-growing product being Now Assist, which has seen a 30% average contract premium for users. The company also announced the hiring of a leader from Google Cloud for a prominent role, and reported profit of $3.72 per share, ahead of analyst estimates. [Extracted from the article]

ServiceNow Inc. reported strong third-quarter sales and bookings, exceeding analysts' estimates, with subscription sales increasing by 23% to $2.7 billion. Despite this, the company's stock slid slightly in late trading, as investors were expecting a larger boost from artificial intelligence features. ServiceNow is incorporating generative AI into its products, with its main AI assist product, Now Assist, experiencing significant growth. The company also announced the hiring of a leader from Google Cloud for a key role. [Extracted from the article]

IBM's stock declined by 8% after reporting underwhelming revenue in the third quarter, with sales increasing by 1% to $15 billion, slightly missing analyst estimates. The flat consulting business, generating $5.15 billion in revenue, was a significant factor in the results, as clients are cautious due to economic uncertainties. Despite this, IBM's software sales increased by 9.7% to $6.5 billion, with growth in Red Hat business, while infrastructure revenue saw a steeper decline than expected. IBM is focusing on high-growth software and services, with AI consulting and software bookings exceeding $3 billion since mid-2023. [Extracted from the article]

ServiceNow Inc. reported strong sales growth in the third quarter, with subscription sales increasing by 23% to $2.7 billion. The company's generative AI product, Now Assist, is experiencing rapid growth, but investors were disappointed by the financial impact of AI products, causing a 1% drop in share prices. ServiceNow is focusing on AI "agents" that can complete tasks without user supervision, with plans to release them more broadly next month. The company also announced the hiring of a leader from Google Cloud for a key role. [Extracted from the article]

IBM reported a 1% increase in third-quarter sales to $15 billion, falling short of analyst expectations due to stagnant consulting revenue of $5.15 billion. The company attributes this slowdown to clients' cautious spending amid economic uncertainties, with some projects in generative AI displacing traditional consulting. Despite strong growth in AI consulting and software bookings, IBM's stock declined in extended trading, reflecting investor concerns about the company's transformation efforts and declining infrastructure revenue. [Extracted from the article]

Apple CEO Tim Cook met with China's Minister of Industry and Information Technology to discuss continued investments in China, emphasizing the country's importance to Apple's global operations. They talked about Apple's presence in China, cloud services, and data security. Cook also mentioned plans to offer AI services for Chinese customers, but regulatory processes need to be completed first. The Chinese government has tightened control over data flow, leading Apple to comply with local regulations by building a data center in China and shifting Chinese users' data storage to local server farms. Jin, the information technology minister, has outlined plans to strengthen China's supply chain in response to escalating US sanctions. [Extracted from the article]

Bank of America has significantly increased its number of patents related to AI and machine learning, nearly doubling them in two and a half years. The release of ChatGPT has prompted many financial firms to explore the use of generative AI for tasks like summarizing documents and writing emails. Bank of America's investment in new technology includes AI-based virtual assistant Erica, with a focus on enhancing productivity and cutting costs in the banking sector. [Extracted from the article]

The CFA Institute is exploring how artificial intelligence (AI) can enhance its financial analyst certification exams, aiming to make them more interactive and practical. The organization is also focusing on the ethical use of AI in investment decision-making. Changes to the exam structure, including the addition of Python and financial modeling, are being implemented to better assess candidates' knowledge and skills. The use of AI in testing is still in the research stage, with potential future integration into the curriculum. [Extracted from the article]

Microsoft has launched a new set of artificial intelligence tools called "autonomous agents" that can complete tasks such as sales, customer support, and accounting on behalf of business workers. These agents will be available in a public preview starting in December 2024. Microsoft's AI push intensifies competition with rivals like Salesforce, who also recently introduced their own AI tool called Agentforce for customer service tasks. Pricing for Microsoft's agents has not been announced, but they will be added to the Dynamics 365 software. [Extracted from the article]

Investor Ray Dalio expressed concerns about the orderly transition of power in the US and the acceptance of election results by both parties, particularly if it's a close Trump loss. He highlighted the uncertainty in the US and the risks associated with global debt creation and internal conflicts. Dalio also discussed China's challenges with debt restructuring and the need for greater policy clarity for the country's wealthy individuals and entrepreneurs. Additionally, he noted China's lag in generative artificial intelligence and his family office's investment strategy in the country. [Extracted from the article]

Investor Ray Dalio expressed concerns about the orderly transition of power in the US and the acceptance of election results by both parties, particularly if it's a close Trump loss. He highlighted the uncertainty in the US and the risks associated with global debt creation and internal conflicts. Dalio also discussed China's challenges with debt restructuring and the need for greater policy clarity for the country's entrepreneurs and ultra-rich. [Extracted from the article]

Google is transferring its Gemini AI assistant team to its DeepMind research lab as part of a broader effort to consolidate its artificial intelligence groups. This move aims to accelerate AI development and streamline the company's progress in the field. The reorganization comes as Google faces competition from other companies in the AI space and navigates antitrust scrutiny from federal officials. DeepMind, originally an academic-style research lab founded in London, has evolved into a more product-driven entity since its acquisition by Google in 2014. [Extracted from the article]

Infosys Ltd. has increased its annual sales forecast for the fiscal year through March 2025, indicating a potential revival in client spending on software services due to resilient growth and slowing inflation in major economies. The company expects revenue to grow by 3.75% to 4.5%, higher than the previous projection of 3% to 4%. Infosys' performance in the first six months of the fiscal year and the September quarter contributed to the improved sales projection, with a focus on smaller deals under $50 million showing strong double-digit growth. This development may be encouraging for IT companies globally, as they anticipate a rebound in tech spending. [Extracted from the article]

Ubitus K.K., a cloud services firm backed by Nvidia Corp., is planning to build a new data center in Japan, with a preference for locations near nuclear power sources in Kyoto, Shimane, or Kyushu. The company believes nuclear power offers a cost-effective and reliable energy source for AI applications, unlike solar and wind power. Despite challenges related to the Fukushima disaster, Ubitus aims to select a site for its data center by early next year to benefit from the stable electricity provided by nearby nuclear facilities. [Extracted from the article]

Infosys Ltd. has increased its annual sales forecast due to a resurgence in client spending on software services, with revenue expected to grow by 3.75% to 4.5% in the fiscal year ending March 2025. This positive outlook may benefit IT companies globally, as Infosys' rival Tata Consultancy Services Ltd. also anticipates improved investment following a rate cut by the US Federal Reserve. The company's focus on technologies like artificial intelligence, machine learning, and cloud computing reflects a broader trend in the industry towards digital transformation and competition with agile startups. [Extracted from the article]

Toyota Motor Corp.'s research unit and Hyundai Motor Co.'s Boston Dynamics are collaborating to develop humanoid robots with artificial intelligence. The partnership combines Toyota Research Institute's expertise in machine learning with Boston Dynamics' humanoid Atlas robot to explore AI-trained robots' potential in human-robot interaction. The goal is to eventually deploy robots in factories and homes for elder care, leveraging generative AI to enable robots to learn new skills quickly. This collaboration aims to differentiate itself from other smart bot programs and startups, with a focus on fundamental research for future commercial use. [Extracted from the article]

Toyota Motor Corp.'s research unit and Hyundai Motor Co.'s Boston Dynamics are collaborating to develop humanoid robots with artificial intelligence. The partnership combines Toyota Research Institute's expertise in machine learning with Boston Dynamics' humanoid Atlas robot to explore AI-trained robots for human-robot interaction. The goal is to eventually deploy robots in factories and homes for elder care, leveraging generative AI to enable robots to learn multiple tasks simultaneously. This collaboration represents a significant advancement in the field of robotics and automation within the automotive industry. [Extracted from the article]

Adobe Inc. CEO Shantanu Narayen announced that the company's new video-generating AI product will have a different pricing structure compared to its other AI tools. Narayen stated that producing video is more expensive, and as the demand for video content increases, Adobe will likely introduce different pricing models. While Adobe currently offers AI features without additional charges, Narayen suggested that video AI may be subject to different pricing. The announcement caused a 2.9% increase in Adobe's stock, which had previously declined due to concerns about competition from other AI tool providers. [Extracted from the article]

Alibaba Group Holding Ltd. and Baidu Inc. are among the investors in the Hong Kong initial public offering (IPO) of Horizon Robotics, a Chinese company that provides software and hardware for autonomous driving systems. Other investors include French shipping billionaire Rodolphe Saade's CMA CGM and a Ningbo government fund. The four investors have agreed to subscribe for a total of $220 million in shares. Horizon Robotics is seeking to raise up to $800 million in the IPO, with a valuation of up to $6 billion. The company has high-profile backers such as BYD Co. and Contemporary Amperex Technology Co. Ltd. Alibaba, Baidu, and other Chinese tech firms have been investing in strategic industries like autonomous driving and artificial intelligence. Horizon Robotics, founded in 2015, is controlled by AI scientist Kai Yu and recorded a loss of 5.1 billion yuan ($721 million) in the first half of 2024. [Extracted from the article]

Adobe Inc. has introduced artificial intelligence (AI) tools that can create and modify videos, making it the first major software company to offer this technology to customers. The tools include a feature in Adobe's video-editing software, Premiere, that allows users to extend video clips using generative AI. Other online tools enable users to produce video from text prompts and existing images. Adobe has focused on adding generative AI features to its software over the past year, and its video models have been trained primarily on videos and photos from its stock media library. The company aims to differentiate its models as "commercially safe" by using cautious training data and restrictive moderation. Adobe is also exploring the development of AI models that can generate 3D graphics. [Extracted from the article]

Japan's largest business lobby, Keidanren, has urged the government to include nuclear power expansion in the country's national energy strategy. The lobby group argues that electrification, the use of generative artificial intelligence, and the establishment of new data centers and semiconductor chip factories will increase electricity demand from industries, which cannot be met by renewable energy alone. Keidanren is concerned that without nuclear power, companies will be forced to reduce domestic capital investment, leading to the hollowing out of industries. Japan is among several countries showing renewed interest in nuclear energy as governments seek to reduce reliance on fossil fuels and meet future power needs. Keidanren also called for clear plans for the construction of next-generation reactors and the expansion of LNG procurement from a broader range of countries. [Extracted from the article]

Japan's largest business lobby, Keidanren, has urged the government to include nuclear power expansion in the country's national energy strategy. The lobby group argues that electrification, the use of generative artificial intelligence, and the establishment of new data centers and semiconductor chip factories will increase electricity demand from industries, which cannot be met by renewable energy alone. Keidanren is concerned that without nuclear power, companies will be forced to reduce domestic capital investment, leading to the hollowing out of industries. Japan is among several countries showing renewed interest in nuclear energy as governments seek to reduce reliance on fossil fuels and meet future power needs. Keidanren also called for clear plans for the construction of next-generation reactors and the expansion of LNG procurement from a broader range of countries. [Extracted from the article]

European banks, including BPER Banca SpA in Italy, are starting to use artificial intelligence (AI) tools to cut staff and improve efficiency. BPER Banca plans to reduce its workforce by about 2,000 employees, or 10%, by 2027 through AI-enabled process optimization and automation. Other European banks, such as UBS, Deutsche Bank, and ING, are also using AI for various purposes, including analyzing potential M&A deals and screening for potential defaulters. While AI is expected to lower costs and increase profitability in the banking industry, few banks have provided concrete numbers on expected savings. However, BPER Banca's announcement marks one of the first instances of a bank quantifying the impact of AI on its workforce. The adoption of AI also presents a hiring challenge as banks need to acquire the necessary skillset for AI deployment. BPER Banca plans to partially offset its workforce reduction by hiring 1,100 employees in strategic areas, including IT. [Extracted from the article]

Deutsche Telekom AG, Europe's largest telecommunications carrier, plans to propose a buyback program of up to €2 billion ($2.2 billion) in 2025 and will utilize artificial intelligence (AI) to improve efficiency over the next three years. The company also intends to propose a dividend of 90 cents per share for the 2024 financial year. Deutsche Telekom's strong performance is attributed to subscriber growth at T-Mobile US Inc., where the company holds a majority stake. The company aims to use extra cash to increase its stake in T-Mobile or repurchase shares. CEO Tim Höttges stated that the company plans to deploy AI tools internally, initially focusing on customer service. Deutsche Telekom expects annual service revenue growth of around 4% through 2027 and anticipates adjusted earnings before interest, taxes, depreciation, amortization, and after leases to grow by 4% to 6% per year during the same period. [Extracted from the article]

Sierra, a startup co-founded by OpenAI Chairman Bret Taylor and former Google executive Clay Bavor, is in talks to secure new funding at a valuation of over $4 billion. The company focuses on using AI to assist corporate clients in areas like customer service. This funding round, led by Greenoaks Capital, would more than triple Sierra's previous valuation. Despite concerns about the high costs of AI startups, this deal highlights sustained investor interest in the field. [Extracted from the article]

Liner, an AI search engine for students and researchers, has secured $29 million in funding from investors including Intervest, Atinum Investment, and Samsung Venture. The startup, based in Seoul, has found success in the US market, with 10 million users across universities such as UC Berkeley, Texas A&M, and the University of Southern California. Unlike general-use AI services, Liner focuses on credible sources like academic papers and government databases, providing users with valuable information across various academic disciplines. The company has raised a total of $33 million and plans to expand its team in San Francisco. [Extracted from the article]

The demand for power driven by the tech industry's focus on artificial intelligence (AI) is benefiting the utilities sector and impacting the S&P 500 index. Independent power producers, Vistra Corp. and Constellation Energy Corp., have experienced significant gains, with Vistra being the top performer in the S&P 500 this year. The utilities sector is seen as a cheaper way for investors to invest in AI compared to more expensive technology stocks. The growth in utilities is attributed to the need for electricity to support AI development. [Extracted from the article]

Vodafone Group has announced a partnership with Google to provide cloud services, artificial intelligence tools, and cybersecurity to its customers in Europe and Africa. As part of the 10-year expansion of their existing partnership, Vodafone will promote Google's cloud storage subscriptions and demonstrate how to use AI features on the latest Pixel devices in stores. This collaboration allows Vodafone to diversify its revenue streams and offer digital services, similar to big tech companies. Additionally, Vodafone will utilize Google's technology to enhance search, recommendations, and ad targeting for its TV box service and develop a new cloud cybersecurity product for business users. [Extracted from the article]

The demand for power driven by the tech industry's focus on artificial intelligence (AI) is benefiting the utilities sector and impacting the S&P 500 index. Independent power producers, Vistra Corp. and Constellation Energy Corp., have experienced significant gains, with Constellation securing a deal to supply nuclear power to Microsoft. These utilities companies are attractive to investors looking for cheaper ways to invest in AI. The utilities sector has outperformed the broader market, and analysts expect further growth and deals in the future. [Extracted from the article]

OpenAI and Hearst Communications Inc. have reached an agreement to incorporate content from Hearst's magazines and newspapers into OpenAI's chatbot, ChatGPT. This partnership adds to OpenAI's growing list of collaborations with media companies. Hearst will license content from publications such as Esquire, Cosmopolitan, and Elle, as well as over 40 newspapers, to be used in OpenAI's products. The aim is to ensure that AI products like ChatGPT include reliable and curated content from professional journalists. OpenAI has previously formed similar partnerships with publishers like Condé Nast, News Corp., and Time magazine. However, not all outlets are working with OpenAI, as the New York Times has sued the startup for allegedly using its copyrighted articles without permission. OpenAI has disputed these claims. [Extracted from the article]

Meta Platforms Inc. is introducing new artificial intelligence tools to assist advertisers in creating and editing videos more easily. These tools will allow advertisers to use generative AI to transform static images into video ads and automatically adjust the size of video ads. Meta has been steadily releasing AI tools for advertisers, including text and image creation and targeting tools. The company is focusing on video content to increase user engagement and show more ads, and is adding a new video feed to its Facebook app. Facebook and Instagram users currently spend 60% of their time on the apps watching video content. [Extracted from the article]

Consumer-finance startup Stash has announced that its co-founders, Brandon Krieg and Ed Robinson, will serve as co-chief executive officers. They are taking over from Liza Landsman, who is leaving the company to volunteer for Kamala Harris' presidential campaign. Stash, which has 1.5 million active users and over $3.5 billion in assets under management, is launching an artificial intelligence-powered platform called Money Coach to provide personalized support to customers. The startup, valued at $1.4 billion, has investors including Eldridge Industries, LendingTree Inc., and T. Rowe Price Group Inc. Stash's Stock-Back Card offers rewards in the form of shares for purchases from various merchants. [Extracted from the article]

Vodafone Group Plc has partnered with Google to offer cloud services, artificial intelligence tools, and cybersecurity to its customers in Europe and Africa. The expanded 10-year partnership will involve Vodafone promoting Google's cloud storage subscriptions and demonstrating the AI features of Google's Pixel devices in stores. This collaboration allows Vodafone to diversify its revenue streams and improve its digital services, while also benefiting from Google's technology to enhance its TV box service and develop a new cloud cybersecurity product for business users. [Extracted from the article]

Google has announced that closer collaboration between its cloud computing unit and its AI research lab has resulted in faster progress in artificial intelligence. Google Cloud has partnered with companies like Snapchat and Pods to incorporate its latest AI models into popular consumer products. The collaboration between Google Cloud and Google DeepMind aims to accelerate product development and demonstrate how AI investments can translate into new business. Google's AI researchers are motivated to see their work in the hands of real products and users, and the company is working to bridge the gap between research labs and consumer products. [Extracted from the article]

Meta Platforms Inc., the parent company of Facebook, has unveiled a new artificial intelligence tool called Movie Gen that can generate or edit videos based on a text prompt. The tool can create videos up to 16 seconds long, generate audio for existing videos, and even create customized videos using a photo of a real person. Movie Gen is currently only available to internal employees and select partners, but Meta plans to integrate it into its existing apps next year. The company is working on addressing safety and responsibility concerns, including preventing the creation of inappropriate or unflattering videos without consent. Meta sees AI as a key driver of user and revenue growth, and CEO Mark Zuckerberg believes it will play a larger role in powering future products like smart glasses. [Extracted from the article]

OpenAI, an artificial intelligence company, has raised $6.6 billion in funding, giving it a valuation of $157 billion. The funding round was led by Thrive Capital and included investments from Microsoft, Khosla Ventures, Fidelity Management & Research Co., Nvidia, and others. OpenAI plans to use the funds to advance AI research and increase its computing capacity. The company's success highlights the tech industry's belief in the power of AI and its potential for significant advancements. [Extracted from the article]

SoftBank Group Corp. founder Masayoshi Son predicts that artificial intelligence (AI) will soon be able to run entire households, performing tasks such as monitoring health, calling doctors, grocery shopping, making reservations, and tutoring children. Son believes that artificial general intelligence, the long-term goal for developers, will arrive within the next two to three years. He emphasized the potential of AI to understand emotions and prioritize happiness. SoftBank plans to invest further in AI semiconductors, data centers, and robots, while also contributing $500 million to OpenAI's fundraising round. [Extracted from the article]

SoftBank Group Corp. founder Masayoshi Son predicts that artificial intelligence (AI) will soon be able to run entire households, performing tasks such as monitoring health, calling doctors, grocery shopping, making reservations, and tutoring children. Son believes that artificial general intelligence, the long-term goal for developers, will arrive within the next two to three years. He emphasizes the potential of AI to improve happiness and plans to continue investing billions of dollars in the field. SoftBank is contributing $500 million to OpenAI's fundraising round and plans to invest further in AI semiconductors, data centers, and robots. [Extracted from the article]