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☆ Wall Street is loving AI while Big Tech is warning employees about how they use it
  + stars: | 2024-02-23 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +7 min
In today's big story, we're looking at Wall Street's love affair with Nvidia (and AI) while Big Tech still grapples with how to use the tools . Since Nvidia's GPUs sit at the center of the AI revolution, the company's success suggests the hype around the tech is warranted. One issue is bias showing up in AI tools . AdvertisementInternal documents show that Amazon is warning its employees not to use third-party generative AI tools for work , BI's Ashley Stewart and Eugene Kim report. It's an interesting acknowledgement of the risks involved with using AI tools — especially when Amazon is pitching its own chatbot to customers .
Persons: —, It's, Michael M, Tyler Le, it's, Matthew Fox, Wall, Jensen, Kathleen Brooks, XTB, BI's George Glover, Chelsea Jia Feng, — ChatGPT, Monica Melton, BI's Ashley Stewart, Eugene Kim, Paul Morigi, Jenny Chang, Rodriguez, Goldman, Joe Duran, Jensen Huang, Huang, Reddit, Sam Altman, Elon Musk, Gemini, isn't, RJ Scaringe, Rivian, Scaringe, Steve Conine, Niraj Shah, Lucas Jackson, Wayfair, Bruce Dixon, they'd, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, Nvidia, Big Tech, Getty, Nasdaq, Nikkei, GameStop, SEC, CNBC, EV, Warner Bros Discovery Inc, Hyatt Hotels Locations: Paul, New York, London, Chicago
☆ Wayfair CEO says laying off workers has turned out great
  + stars: | 2024-02-22 | by ( Grace Eliza Goodwin | ) www.businessinsider.com   time to read: 1 min
AdvertisementLaying off workers over and over is working out great for Wayfair, according to the company's leaders. On Thursday, Wayfair CEO Niraj Shah wrote in a letter to shareholders — co-signed by co-founder and co-chairman Steve Conine — that several rounds of layoffs over the last year-and-a-half have helped the company become leaner and meaner. "While it is early, it does seem like we are getting more done, and faster, and at a lower cost," Shah and Conine wrote in the letter. "It also feels like we have the right level leaders in charge of the right things." This story is available exclusively to Business Insider subscribers.
Persons: Niraj Shah, Steve Conine —, Shah, Conine Organizations: —, Business
☆ Kanye West and Sam Bankman-Fried lose billionaire titles on Forbes' annual rich list
  + stars: | 2023-04-05 | by ( Beatrice Nolan | ) www.businessinsider.com   time to read: +2 min
Sam Bankman-Fried and Ye, formerly known as Kanye West, have dropped off Forbes' billionaire list. Bankman-Fried's net worth tumbled from $24 billion in 2022 to less than $10 million, per Forbes. Bankman-Fried's net worth tumbled from $24 billion in 2022 to less than $10 million, according to Forbes wealth reporter Richard J. Chang. Bernard Arnault and his family topped the list with a net worth of $211 billion, according to Forbes. Forbes estimated the billionaire had around $39 billion knocked off his total net worth last year.
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