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Nicolai Tangens Vision Norways Wealth Fund Leverages AI for Growth

The largest sovereign wealth fund in the world, worth $1.4 trillion, is utilising artificial intelligence AI to improve its investment management. CEO

The largest sovereign wealth fund in the world, worth $1.4 trillion, is utilising artificial intelligence AI to improve its investment management. CEO Nicolai Tangen has established an internal target to increase productivity by 10% during the next year through decreased trading and more effective use of AI for portfolio changes. The fund has also pushed for responsible AI use by the nearly 9,200 businesses it invests in, with an emphasis on the big tech, healthcare, and finance industries. The potential for AI to have a substantial influence on these sectors and the necessity of assuring responsible AI development—including human monitoring and accountability—are the driving forces behind this movement. Read More..

B2B Tech News | 2 years ago          

SiriusXMs GameChanger New App Aims to Outshine Spotify

With a new app and a redesigned logo, SiriusXM is hoping to attract more users and stay competitive amidst growing competition from Spotify, another s

With a new app and a redesigned logo, SiriusXM is hoping to attract more users and stay competitive amidst growing competition from Spotify, another streaming service. The apps allaccess package, which will launch in North America on December 14, will cost $9.99 per month. This is in contrast to the existing allinclusive, streamingonly plan, which costs $10.99 per month following a threemonth introductory period. A personalised landing page and carefully chosen sections are a couple of the new features. Starting in early 2024, SiriusXM and Audible will collaborate to exchange content. Read More..

B2B Tech News | 2 years ago          

EUs AI Act Blueprint for Global AI Regulations, Says Benifei

Lawmaker for the European Union Brando Benifei, who played a significant role in creating the artificial intelligence AI rules of the EU, anticipates

Lawmaker for the European Union Brando Benifei, who played a significant role in creating the artificial intelligence AI rules of the EU, anticipates that the EU AI Act will act as a "blueprint" for international AI laws. The EUs preliminary AI regulations, which are anticipated to be passed soon, aim to establish international standards for the regulation of AI technology. Benifei stated that other areas might create their own AI rules with less stringent standards by using the risk framework established in the EU AI Act as a model. Establishing AI regulations, in the opinion of many politicians and business professionals, is essential to averting dangers to democracy and society. Read More..

B2B Tech News | 2 years ago          

Imec CEO Van den Hove Impressed by Japans Chip Revival

Luc Van den Hove, CEO of Belgian chip research group Imec, says Japans attempts to become a major chip maker again are noteworthy. Japan is backing pr

Luc Van den Hove, CEO of Belgian chip research group Imec, says Japans attempts to become a major chip maker again are noteworthy. Japan is backing projects like the chip foundry company Rapidus and is providing subsidies to both local and international chipmakers to increase capacity. With the help of IBM and Imec and under the direction of seasoned chip executives, Rapidus hopes to take on wellestablished industry heavyweights like TSMC and Samsung by producing innovative chips. Van den Hove is upbeat about Rapiduss chances since the Japanese government and crew are determined to see it through to completion. Read More..

B2B Tech News | 2 years ago          

Meet Olympus Amazons Bid to Outshine AI Models like GPT4

According to reports, Amazon is spending millions creating a Large Language Model LLM dubbed "Olympus." With an estimated 2 trillion parameters, this

According to reports, Amazon is spending millions creating a Large Language Model LLM dubbed "Olympus." With an estimated 2 trillion parameters, this LLM may be among the biggest models under training. In contrast, the very capable GPT4 models from OpenAI have almost a trillion parameters. Amazon wants to compete with elite models from businesses like Alphabet and OpenAI. The team is focusing on training models to increase Amazons AI products, especially for Amazon Web Services AWS users, and is overseen by Rohit Prasad, the former head of Alexa. The increasing need for AI models across a range of sectors is reflected in Amazons investment in LLMs. Read More..

B2B Tech News | 2 years ago          

Occidental Petroleums Q3 Earnings Beat Expectations at $1.18 Per Share

Occidental Petroleum exceeded Wall Streets projected profit of $0.84 per share by reporting a thirdquarter profit of $1.18 per share. Although the res

Occidental Petroleum exceeded Wall Streets projected profit of $0.84 per share by reporting a thirdquarter profit of $1.18 per share. Although the results were lower than the previous years due to lower energy prices and worse chemical and pipeline outcomes, they nevertheless show a solid level of oil production in the United States. Comparing the companys adjusted earnings for the same period last year to $1.13 billion, they fell by more than half. Pretax profits of $142 million from asset sales helped Occidental achieve its objectives. The business also disclosed that BlackRock had contributed $550 million to a Texas direct air capture carbon project. Read More..

B2B Tech News | 2 years ago          

Commerzbank Shines in Q3 Profits Soar to $730 Million

Almost three times as much profit as in the same period last year, Commerzbank, a wellknown bank in Germany, posted a betterthanexpected net profit of

Almost three times as much profit as in the same period last year, Commerzbank, a wellknown bank in Germany, posted a betterthanexpected net profit of €684 million $730.72 million in the third quarter. Higher interest rates helped the bank perform better. Over the past several years, Commerzbank has undergone extensive restructuring in an effort to increase profitability. In addition, the bank provided an update on its strategy, stating that it intended to achieve a net profit of around €3.4 billion in 2027 and to lower its costtoincome ratio to 55% by that time. Read More..

B2B Tech News | 2 years ago          

Consumer Financial Protection Bureau CFPB Targets Tech Giants in Payment Oversight

To protect consumers, the U.S. Consumer Financial Protection Bureau CFPB has suggested regulating big internet companies smartphone wallets and digita

To protect consumers, the U.S. Consumer Financial Protection Bureau CFPB has suggested regulating big internet companies smartphone wallets and digital payment systems. Businesses like Alphabet, Apple, PayPal, and Blocks CashApp would be subject to oversight like to that of a bank, including investigations into their executive behaviour, privacy policies, and adherence to laws against unfair and misleading business practices. Since entering office in 2021, CFPB Director Rohit Chopra has been putting more and more pressure on Big Tech, asking questions about their payment platforms and requesting details on how they handle consumer data. The new regulation would apply to businesses that process more than five million transactions a year. The regulation is now available for notice and comment, and it should be finalised in the first half of 2024. Read More..

B2B Tech News | 2 years ago          



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Refresh Your Facts

1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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