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☆ Jamie Dimon joined other top business leaders at the glitzy White House dinner. See who joined him on the guest list.
▼ + stars: | 2024-04-12 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +1 min

Leaders from JPMorgan, Microsoft, and Apple attended a White House state dinner on Wednesday. The dinner was hosted by Biden for the Prime Minister of Japan, Fumio Kishida. Take a look at the business leaders and tech moguls who attended the lavish event. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementOn Wednesday top business and tech figures mingled with celebrities and lawmakers at the White House for a state dinner hosted by President Joe Biden.

Persons: Apple, Biden, Fumio, —, Joe Biden Organizations: JPMorgan, Microsoft, White House, Japan, Service, White Locations: Japan

☆ Tim Cook, Robert De Niro, and Hillary Clinton rubbed shoulders at the White House state dinner for Japan — see the night's best photos
▼ + stars: | 2024-04-11 | by ( Talia Lakritz | ) www.businessinsider.com time to read: +1 min

President Joe Biden and first lady Jill Biden hosted a state dinner for the prime minister of Japan. Cherry blossoms appeared in the White House decor and menu as well as in guests' outfits. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The event, featuring cherry blossom-themed decor and high-profile guests, was more than just an excuse to dress up and decorate the White House. Take a look at some of the highlights from the state dinner.

Persons: Joe Biden, Jill Biden, Cherry, Jeff Bezos, Tim Cook, Robert De Niro, —, Fumio Kishida, Yuko Kishida Organizations: Japan, Service, Japanese, White Locations: Japan

☆ Five moves Walmart is making to overhaul its business for the future
▼ + stars: | 2024-02-19 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +7 min

New York CNN —Walmart, the global mega-retailer that began in Arkansas in 1962, is making huge moves in 2024. It’s making investments in technology and inventory that move it into new businesses and which will alter the Walmart experience of many customers. Stock splitThe mega-retailer announced a 3-for-1 stock split that takes effect this week. A stock split means a single share gets split into multiple shares. Under the plan Walmart announced, people who own shares by close of business on February 22 will get two additional new shares of Walmart for every share they own.

Persons: Doug McMillon, Jeffries, “, ”, McMillon, Burt Flickinger, Blake Droesch, CNN’s Parija Kavilanz, Nathaniel Meyersohn, Elisabeth Buchwald, Alicia Wallace Organizations: New, New York CNN, Walmart, ”, Labor, Consumer, Microsoft, Strategic Resource, CNN, Costco, Telsey Group, Target, Intelligence, FactSet Locations: New York, Arkansas, Las Vegas

☆ What Wall Street bosses from Goldman Sachs to JPMorgan are saying about the jobs outlook for 2024 in investment banking, wealth management, and more
▼ + stars: | 2024-01-16 | by ( Emmalyse Brownstein | Alex Morrell | Reed Alexander | ) www.businessinsider.com time to read: +11 min

Last year, banks opened 2023 by forecasting layoffs, including for the investment bankers who suddenly had nothing to do following the pandemic-era M&A and IPO boom. Citigroup kicked off 2024 ominously, warning that it will lay off as many as 20,000 employees by 2026. The bank expects 2024 expenses to increase further to total $90 billion, up $2.8 billion from 2023, and much of that will be focused on hiring. CFO Barnum on Friday said the bank is gearing up for a "rebound in the investment banking wallet." Headcount declined 3% to 80,006 from 82,427, while compensation expenses rose to $24.5 billion from $23 billion.

Persons: It's, it's, Jane Fraser, Jeremy Barnum, JPMorgan Chase Jamie Dimon, JPMorgan Chase, Alex Wroblewski, JPMorgan's headcount, Barnum, Friday, Patrick T, Fallon, —, Fraser, Q, Goldman Sachs Goldman Sachs, David Solomon, BRENDAN MCDERMID, Goldman Sachs, Denis Coleman, Coleman, Goldman, Bank of America Brian Moynihan, Robert Galbraith, headcount, BofA, Alastair Borthwick, execs, they've, Brian Moynihan, Wells Fargo Charles Scharf, Lucy Nicholson Wells Fargo, Michael Santomassimo, Charlie Scharf, Santomassimo, BlackRock Larry Fink, Fink, Kapito, Morgan Stanley Ted Pick, Morgan Stanley, Jeenah, Headcount, Morgan, Ted Pick, Sharon Yeshaya, Blackstone Steven Schwarzman, Blackstone, Gonzalo Fuentes Organizations: Business, Citigroup, JPMorgan, Citi, BlackRock, Blackstone, Getty, AlphaSense, Citigroup Citigroup, Bank of America, REUTERS, Robert, Robert Galbraith Bank of America's, Reuters, AP BlackRock, Global Infrastructure Partners Locations: Wall, headcount, Wells Fargo

☆ Microsoft, OpenAI-backed AI safety forum names first director, plans advisory board
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

The Frontier Model Forum also said it created a fund to back research into the technology, with initial funding commitments of more than $10 million from its backers and partners. It said its first-ever director would be Chris Meserole, who most recently served as director of AI and emerging technology initiative at the Brookings Institution, a Washington-based think tank. He joins a forum launched in July with a focus on "frontier AI models" that exceed the capabilities present in the most advanced existing models. Industry leaders have warned that such models could have dangerous capabilities sufficient to pose severe risks to public safety. The Frontier Model Forum is backed by ChatGPT-owner OpenAI, Microsoft (MSFT.O), Google's parent Alphabet (GOOGL.O) and AI startup Anthropic.

Persons: Dado Ruvic, Chris Meserole, OpenAI, Juby Babu, Savio D'Souza Organizations: REUTERS, Microsoft, Google, Brookings Institution, Industry, Britain, ChatGPT, Thomson Locations: Washington, Bengaluru

☆ One rural Alabama school district figured out how to improve students' math scores: longer classes, group learning, and data diving
▼ + stars: | 2023-09-23 | by ( Trisha Powell Crain | Associated Press | ) www.businessinsider.com time to read: +8 min

Teachers got more time to dig into student test score data and lengthened classes to focus on specific skills. By spring 2022, the district ranked 12th in the state on math proficiency, with 57% of students reaching proficiency. There is less research on the use of targeted small group instruction in math and in middle grades. Math teacher Cheyenne Crider helps a seventh-grade student with a math problem at Piedmont Middle School in Piedmont, Alabama, on Thursday, Aug. 31, 2023. She oversees training for middle school math teachers through the Alabama Math Science and Technology Initiative.

Persons: Mike Hayes, Rebecca Dreyfus, TNTP, Dreyfus, Trisha Powell Crain, Hayes, " Hayes, Cassie Holbrooks, Lisa Hayes, Cheyenne Crider, Keri Richburg, Richburg, Holbrooks, Landon Pruitt, Pruitt Organizations: Teachers, Service, Piedmont City, Nationwide, AP Piedmont, Piedmont Middle, AP, Alabama Math Science, Technology Initiative, Research, Associated Press, Carnegie Corporation of New, Christian Science Monitor, Dallas Morning News, Idaho Education, Courier, The Seattle Times Locations: Alabama's, Wall, Silicon, Ala, Alabama, Piedmont , Alabama, Holbrooks, Piedmont, Carnegie Corporation of New York, Idaho, South Carolina

After months of acrimony, administration officials have recently begun visiting Beijing in a bid to reestablish regular communication. “The most intense, the most focus that I’ve ever seen President Biden is in advance of these engagements with President Xi,” the official said. And the extent to which their personal relationship will impact US-China relations overall has yet to be determined. “This summit is formalizing and institutionalizing a major strategic shift of the region,” explained a third senior administration official. “The Biden administration has always been clear that talking is best, they will keep showing up, and communication is necessary.

Persons: David, Joe Biden, –, Xi Jinping Biden, ” Biden, “, ”, Xi, Biden, CNN’s Arlette Saenz, “ You’re, Hikariko Ono, Barack Obama, Donald Trump, “ Xi, Narendra Modi, ’ Biden, “ I’ve, “ That’s, we’re, “ Biden, Obama, Danny Russel, Camp David, Fumio Kishida, Yoon Suk, Antony Blinken, Janet Yellen, John Kerry Organizations: CNN, Korean, Democratic, Foreign Ministry, White House, Biden, State Department, Camp, Japanese, South, ” Locations: China, Utah, Beijing, Bali, US, Tokyo, Seoul, mending, Asia, Sunnylands, Palm, Taiwan, India, San Francisco, Japan, South Korea

☆ Watch CNBC's full interview with Elliot Han of Cantor Fitzgerald at Digital Assets Week
▼ + stars: | 2023-05-08 | by ( Tanaya Macheel | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Elliot Han of Cantor Fitzgerald at Digital Assets WeekElliot Han of Cantor Fitzgerald discusses the firm's blockchain technology initiatives and investor sentiment around crypto.

☆ How A.I. could change the future of work
▼ + stars: | 2023-04-28 | by ( Brad Howard | In | ) www.cnbc.com time to read: +1 min

The recent rapid rise of accessible artificial intelligence tools has the potential to upend dozens of industries. A recent report by Goldman Sachs laid out some stark possibilities when it comes to AI and the economy. The report estimates two-thirds of jobs in the U.S. and Europe, and around 300 million positions worldwide could be exposed to automation from new AI advances. The report also notes that one-fourth of all work being done could be replaced by generative AI. Watch the video above to find out more about how AI could change the future of work

☆ Bandwidth Challenges Limit Grocery Chains’ Technology Initiatives
▼ + stars: | 2023-01-27 | by ( Isabelle Bousquette | ) www.wsj.com time to read: +5 min

Grocery chains looking to deploy new technologies are running into internet bandwidth limitations because of aging hardware and remote locations. “The more you put in the store, the more bandwidth it requires,” said Mr. Kosla. Further investment, however, might be required if the company decides to tap more cutting-edge, bandwidth-heavy tech in the future, Mr. Kosla said. There are a couple reasons grocery stores might struggle with bandwidth, one of the biggest being their locations. In other instances, Mr. Watkins said he might work with technology providers to find ways for processing data with less bandwidth.

☆ Vanguard's head of tech details the asset manager's move to the public cloud that's already helped it cut costs by 30%
▼ + stars: | 2022-11-07 | by ( Bianca Chan | Carter Johnson | ) www.businessinsider.com time to read: +5 min

Vanguard's tech chief is ready to play the field when it comes to the public cloud. Since Vanguard's first big push into public cloud in 2019, the firm has primarily relied on Amazon Web Services for much of its cloud tools. Similarly, he referenced the potential of Google Cloud Platform's "analytics capabilities" as another potential selling point. The public cloud is one of five main pillars of Vanguard's broader modernization of its application portfolio that began around 2019. In 2021, AWS detailed how the tech giant meets with Vanguard's Cloud Business Office monthly to review costs, and in one instance reduced its serverless compute expenses by 50%.

☆ FEMSA's fintech arm eyes 10 million users in Mexico by 2023
▼ + stars: | 2022-10-20 | by ( Valentine Hilaire | ) www.reuters.com time to read: +2 min

REUTERS/Daniel Becerril/MEXICO CITY, Oct 20 (Reuters) - Spin by Oxxo, the financial technology initiative launched by Mexican bottler and retailer Femsa, is set to reach 10 million users by 2023, up from four million currently, Spin's Director General Asensio Carrion told Reuters. Spin by Oxxo, which has been financed with internal funds, has quickly become a major player in Mexican fintech. For comparison, Latin America's largest fintech Nubank has about 2.1 million customers in the country, while local player Stori aims to hit the two million client mark by 2023. Mexico's Grupo Financiero Banorte, in its second-quarter results, said it had 6.7 million digital clients. The company has more than 20,600 Oxxo stores across Latin America, and has plans to increase the number by 50% over the next decade.

☆ A merger with Albertsons could bring Kroger's tech initiatives, like automated warehouses and smart carts, to over 5,000 locations
▼ + stars: | 2022-10-17 | by ( Alex Bitter | Nancy Luna | ) www.businessinsider.com time to read: +13 min

Kroger is building its own tech infrastructure, including automated warehouses for delivery orders. Here are Kroger's biggest e-commerce and technology initiatives:A ClusterTruck ghost kitchen inside a Kroger in the Midwest. The delivery-focused ghost kitchen touts a Cheesecake Factory-inspired menu of 80 to 100 food items. Over the last few years, ClusterTruck opened locations inside Kroger stores in Indiana and Ohio. Another partnership, this one with the autonomous-car startup Nuro, has stationed self-driving vehicles to deliver grocery orders in certain cities since 2018.

☆ BofA's clients use virtual assistant over 1 billion times
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +1 min

Oct 12 (Reuters) - Bank of America (BAC.N) on Wednesday said 32 million customers had used its virtual assistant, which allows them to check bill payments, account balances and track spending on the mobile banking app, more than 1 billion times since its launch in 2018. "Bank of America has invested $3 billion or more on new technology initiatives each year for over a decade, including significant investments in AI," said Aditya Bhasin, chief technology and information officer, in a statement. Register now for FREE unlimited access to Reuters.com RegisterBofA said Erica, the virtual assistant of the second largest U.S. bank, has been averaging 1.5 million client interactions a day. Customers use Erica to locate past transactions across accounts, get notifications on merchant refund and duplicate charges, among others. Register now for FREE unlimited access to Reuters.com RegisterReporting by Manya Saini in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Kroger is doubling down on its subscription delivery business as it weans itself off of Instacart. Here's a rundown of its other initiatives, from ghost kitchens to smart carts
▼ + stars: | 2022-09-26 | by ( Alex Bitter | Nancy Luna | ) www.businessinsider.com time to read: +12 min

Here are Kroger's biggest e-commerce and technology initiatives:A ClusterTruck ghost kitchen inside a Kroger in the Midwest. ClusterTruckGhost kitchensIn December 2019, Kroger began improving its prepared meals offering by partnering with ghost kitchen startup ClusterTruck. The delivery-focused ghost kitchen touts a Cheesecake Factory-inspired menu of 80 to 100 food items. Over the last few years, ClusterTruck opened locations inside Kroger stores in Indiana and Ohio. But the firm, which tracks where consumers shop, said Kroger stores with the ghost kitchens are seeing an uptick in visits compared to neighboring Kroger branches.

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