How are banks responding to an era of massive tech disruption and the prospects of lower interest rate margins as global interest rates fall? The banking industry used to be a highly profitable business because interest rate margins – the difference between the lending rate and deposit costs – were high. In the 1960s, when…
Tesla is arguably one of the most advanced AI companies in the world, yet its stock is dictated by margins. Over the past three years, Tesla’s average gross profit per vehicle has declined by 60%, falling from more than $14,400 in Q3 2021 to less than $6,000 in Q2 2024, highlighting the difficulty Tesla has…
Aravind Srinivas, CEO of Perplexity, speaks during the Semafor 2024 World Economy Summit in … [+] Washington, DC in Washington, DC, on April 18, 2024. (Photo by SAUL LOEB / AFP) (Photo by SAUL LOEB/AFP via Getty Images) AFP via Getty Images Perplexity AI Raising $500M at $8 billion Valuation. Perplexity AI, a Jeff Bezos-backed…
SAN FRANCISCO, Cali. (Ivanhoe Newswire) – Each year, one in five Americans will experience some form of mental health illness. And while the need for help is clear, many don’t seek therapy either due to cost or stigma. As a result, AI chatbots have jumped into the mix offering to become a substitute Freud to…
China urgently needs to develop elite talent in the field of quantum computing, according to a leading academic, who has warned that the hi-tech sector must avoid internal trends that strangle innovation. Yu Dapeng, of the Chinese Academy of Sciences, said a lack of ingenuity was hindering China’s quantum computing development, despite the significant public…
China’s World Internet Conference (WIC), an annual event that promotes the Chinese model and concept of internet governance, will focus on artificial intelligence (AI) this year, as Beijing seeks a greater role in the global governance of AI. The event, also known as the Wuzhen Summit, will run from November 19-22 under the theme of…
Dow Jones & Co., parent of the Wall Street Journal, and the New York Post, both owned by News Corp., has sued the Jeff Bezos-backed generative AI startup Perplexity for copyright infringement, the latest in a stream of lawsuits around artificial intelligence that have met with varying degrees of success. Perplexity “claims to provide its…
For centuries, military observers have referred to it as “blood and treasure”. For most of the rest of us, it could be neatly distilled into “wealth and war”. History is littered with examples of nations battling for control of everything from spices to oil, gold and strategic superiority over technology. The latest battleground centres around…
HONG KONG/TAIPEI — Chinese artificial intelligence giant SenseTime Group is using “a lot” of domestic chips, including from Huawei Technologies, to train its large language models, as part of efforts to rapidly develop a homegrown AI computing ecosystem, a senior executive told Nikkei Asia. Alvin Zou, vice president of SenseTime’s Asia Pacific operations, said the…
China’s “little giants” are at the vanguard of its next technological leap. The number of these small and medium-sized enterprises, nurtured under the 14th five-year plan to lead in advanced tech sectors, has exceeded the government’s target. The government aims to accelerate their growth further with expanded capital access. But their leap from innovation to…