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☆ In Tesla Autopilot probe, U.S. prosecutors focus on securities, wire fraud, Reuters reports
▼ + stars: | 2024-05-08 | by ( ) www.cnbc.com time to read: +3 min

U.S. prosecutors are examining whether Tesla committed securities or wire fraud by misleading investors and consumers about its electric vehicles' self-driving capabilities, three people familiar with the matter told Reuters. Tesla's Autopilot and Full Self-Driving systems assist with steering, braking and lane changes — but are not fully autonomous. Investigators are exploring whether Tesla committed wire fraud, which involves deception in interstate communications, by misleading consumers about its driver-assistance systems, the sources said. They are also examining whether Tesla committed securities fraud by deceiving investors, two of the sources said. The Securities and Exchange Commission is also investigating Tesla's representations about driver-assistance systems to investors, one of the people said.

Persons: Tesla, Elon, Musk Organizations: Reuters, Justice Department, The Securities, Exchange Commission, SEC, Prosecutors Locations: U.S, Teslas

☆ Warren Buffett says one question posed by AI has stumped economists for a century
▼ + stars: | 2024-05-07 | by ( Michelle Castillo | ) www.cnbc.com time to read: +8 min

Calling AI profound, Buffet said that the technology is like a "genie" — once it gets let out of the bottle, it could have disastrous effects. It's a question, he said, that has riddled the best economists for a century. Warren Buffett is the first to admit he doesn't know much about artificial intelligence. This rebound has led to questions from corporate executives about factors that could be at play, from AI to return-to-office mandates. "Every company is looking at AI and deciding where it will help them," he said during a recent interview on CNBC's "Money Movers."

Persons: Buffett, Buffet, Warren Buffett, it's, couldn't, John Maynard Keynes, Keynes, Gary Cohn, Cohn, Dev Ittycheria, Elon Musk, Mark Zuckerberg, Sam Altman, Robert Solow, Berkshire Hathaway Organizations: Apple, Berkshire Hathaway, Berkshire, IBM, National Economic, CNBC, Nvidia, McKinsey, Harvard Business Locations: Omaha, Berkshire

☆ Warren Buffett says AI scamming will be the next big 'growth industry'
▼ + stars: | 2024-05-04 | by ( Pia Singh | ) www.cnbc.com time to read: +1 min

Warren Buffett isn't jumping on the artificial intelligence bandwagon just yet, warning about the technology's potential for harm. "When you think about the potential for scamming people ... if I was interested in investing in scamming, it's gonna be the growth industry of all time and it's enabled, in a way" by AI, Buffett said at Berkshire Hathaway's annual shareholder meeting on Saturday. Buffett pointed to the technology's ability to reproduce realistic and misleading content in an effort to send money to bad actors. "Obviously, AI has potential for good things too, but ... I do think, as someone who doesn't understand a damn thing about it, it has enormous potential for good and enormous potential for harm — and I just don't know how that plays out," Buffett added.

Persons: Warren Buffett, it's, Buffett, — Organizations: Berkshire Locations: scamming

☆ Amazon-backed Anthropic launches iPhone app and business tier to compete with OpenAI's ChatGPT
▼ + stars: | 2024-05-01 | by ( Hayden Field | ) www.cnbc.com time to read: +5 min

The generative artificial intelligence startup is the company behind Claude, one of the chatbots that, like OpenAI's ChatGPT and Google 's Gemini, has exploded in popularity in the past year. Anthropic's first iOS app is free for users across all plans and also available starting Wednesday. In a release Wednesday, Anthropic confirmed that other current clients using Claude include Pfizer, Asana, Zoom, Perplexity AI, Bridgewater Associates and more currently. Now, it's one of the hottest AI startups, with a product that directly competes with ChatGPT in both the enterprise and consumer worlds. Anthropic's stance on the military use of Claude is similar to OpenAI's updated policy.

Persons: Anthropic's, Claude, Amodei, Anthropic, Daniela Amodei, it's, Opus, OpenAI's, Asana, It's, Moby Dick, Harry Potter, OpenAI Organizations: CNBC, Google, Team, Pfizer, Asana, Bridgewater Associates, ChatGPT

☆ AI is making managers nervous
▼ + stars: | 2024-04-28 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Read previewManagers are worried that using powerful generative AI tools like OpenAI's ChatGPT in the workplace might cut their salaries. Of those surveyed, 48% of managers reported that AI tools are a "threat to their pay" and will "fuel wage declines" across the country in 2024. In early March, Cognition unveiled Devin, the 'first AI software engineer' the startup claims could fix bugs and train AI models. Sixty-two percent of managers surveyed, according to Beautiful.ai, said their employees feel like AI could eventually put them out of their jobs. "There's no doubt that the implementation of AI tools has employees questioning their value to a company," according to the survey.

Persons: —, Devin, Beautiful.ai, didn't Organizations: Service, Business

☆ Cramer's Lighting Round: Don't buy NuScale Power
▼ + stars: | 2024-04-25 | by ( Julie Coleman | ) www.cnbc.com time to read: 1 min

Stock Chart Icon Stock chart icon Movado Group's year-to-date stock performance. Stock Chart Icon Stock chart icon GigaCloud Technology's year-to-date stock performance. GigaCloud Technology : "It's an ecommerce play that I just don't know enough about...I've got to do work on that one." Stock Chart Icon Stock chart icon NuScale Power's year-to-date stock performance. NuScale Power : "Just go buy GEV...I don't want you to lose any money."

Persons: Movado, GigaCloud, I've, NuScale Organizations: Movado, GigaCloud

☆ Billionaire investor Howard Marks says AI's impact doesn't make it immune to a crash
▼ + stars: | 2024-04-24 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

AI is transformative, but it's hard to determine its stock winners, Howard Marks told CNBC. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementArtificial intelligence might end up changing the world, but that alone can't determine the success of its underlying assets, Howard Marks said. When it comes to AI, Marks acknowledged the technology's transformative potential, and he himself can't say whether its beneficiaries are already under or overvalued. "So to say well, I think that AI will be very important, that's the easy part," the billionaire investor said.

Persons: Howard Marks, —, it's, Marks, Goldman Sachs, Wall, Steve Eisman, they're Organizations: CNBC, Service, Bank of America

☆ AI has racist tendencies. Scientists and founders are trying to fix it.
▼ + stars: | 2024-04-20 | by ( Monica Melton | ) www.businessinsider.com time to read: +11 min

The police had used a facial-recognition AI program that identified her as the suspect based on an old mugshot. AdvertisementThe Detroit Police Department said that it restricts the use of the facial-recognition AI program to violent crimes and that matches it makes are just investigation leads. AdvertisementThe study also found that in a hypothetical murder trial, the AI models were more likely to propose the death penalty for an AAE speaker. A novel proposalOne reason for these failings is that the people and companies building AI aren't representative of the world that AI models are supposed to encapsulate. Bardlavens leads a team that aims to ensure equity is considered and baked into Adobe AI tools.

Persons: —, Woodruff, who's, Ivan Land, Joy Buolamwini, Timnit Gebru, Valentin Hofmann, OpenAI's, AAE, Geoffrey Hinton, Christopher Lafayette, Udezue, OpenAI, Google's, John Pasmore, Latimer, Buolamwini, Timothy Bardlavens, Microsoft Bing, Microsoft Bardlavens, Bardlavens, Esther Dyson, Dyson, Arturo Villanueva, I'd, Villanueva, Alza, We're, Andrew Mahon, Alza's Organizations: Service, Detroit, Business, Court of Michigan, Detroit Police Department, Microsoft, IBM, Allen Institute, AI, Dartmouth College, Center for Education Statistics, Big Tech, Udezue, Meta, Google, Tech, Companies, Adobe Locations: That's, American, Africa, Southeast Asia, North America, Europe, Spanish

☆ Cramer's Lighting Round: Sell Aspen Aerogels
▼ + stars: | 2024-04-18 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon ConocoPhillips' year-to-date stock performance. Stock Chart Icon Stock chart icon Marvell Technology's year-to-date stock performance. Stock Chart Icon Stock chart icon Enovix's year-to-date stock performance. Stock Chart Icon Stock chart icon Aspen Aerogels' year-to-date stock performance. Stock Chart Icon Stock chart icon Vale's year-to-date stock performance.

Persons: I'm, Marvell, Lam, Let's, you've Organizations: ConocoPhillips, Pharmaceuticals, Marvell Technology, Lam Research, Aspen, PNC

☆ Trump's stock free fall has lost him $3.3 billion
▼ + stars: | 2024-04-16 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +2 min

At its height, Donald Trump's stake in Trump Media was worth a staggering $5.11 billion. As of Tuesday, the former president's shares have lost roughly $3.33 billion in value. AdvertisementAs Trump Media & Technology's stock has tumbled, so has Donald Trump's wealth. That meant the former president, who owns a roughly 57% stake in the media startup, had shares worth a whopping $5.11 billion. On Tuesday, Trump Media closed with a market capitalization of about $3.12 billion — a 65% drop from its peak.

Persons: Donald Trump's, —, Trump, Trump's, Stormy Daniels — Organizations: Trump Media, Trump, Service, Truth

☆ These 4 stocks can help investors play defense as inflation rattles the market
▼ + stars: | 2024-04-12 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Recent inflation reports spooked investors, sparking a sell-off on Wednesday, but defensive stocks could provide some stability the next time markets get rocky. Those fears have contributed to a pullback in the market, with the S & P 500 slipping around 1% since the start of April. Investors could consider rotating into more defensively focused names to prepare for market volatility. Roper, on the other hand, has struggled this year, with the software stock's shares falling slightly in 2024. He said this week that Coterra was the firm's only buy-rated name in the natural gas exploration and production space.

Persons: technology's, ServiceNow, LSEG . Roper, LSEG, Roper, TJX, Coterra, Josh Silverstein, Silverstein Organizations: Federal Reserve, Investors, CNBC, Beta, CNBC Pro, Roper Technologies, Nasdaq, Coterra Energy

☆ More CEOs expect hybrid work is here to stay
▼ + stars: | 2024-04-11 | by ( Tim Paradis | ) www.businessinsider.com time to read: +5 min

"Hybrid is likely here to stay," Paul Knopp, chair and CEO at KPMG US, told Business Insider. AdvertisementThe survey of 100 CEOs of large US companies found that 46% of them expect what had been office roles will be hybrid, up from 34% in 2023. But corporate chiefs seem to be holding the line on remote work, with only 3% of top bosses backing fully remote work. AdvertisementSome seven in 10 CEOs said they expect to boost hiring during the next year, while only 4% expect to cut jobs during that time. AdvertisementNearly four in 10 CEOs expect their companies will move from AI pilots to broader use within their organizations during the next 12 to 18 months.

Persons: —, It's, Paul Knopp, Knopp Organizations: Service, KPMG US, Business, America, KPMG, —

☆ There's a thriving Russian black market for Elon Musk's Starlink terminals, with the tech being sent far beyond Ukraine
▼ + stars: | 2024-04-09 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +4 min

Starlink terminals are being widely used by Russian forces in Ukraine, The Wall Street Journal reported. AdvertisementThe Journal also reported that a similar black market is also thriving in Sudan, even though the terminals' use is not authorized there. AdvertisementIn early February, Musk pushed back on claims from Ukrainian military intelligence that the terminals were being systematically used by Russian forces in Ukraine. House Democrats have also pressured Musk to take action, saying Russian military use of the tech is "potentially in violation of US sanctions and export controls." Musk has long sought to limit Starlink's military use, stipulating in the technology's terms of service that it is intended for civilians only.

Persons: Elon Musk's, —, Vladimir Putin's, Musk, Mikhailo Fedorov, Starlink, Musk's Organizations: Street Journal, Service, Elon, Elon Musk's SpaceX, Rapid Support Forces, SpaceX, eBay, Democrats Locations: Ukraine, Russia, Sudan, Crimea, Russia's, Dubai, Chad, South Sudan, Russian, Starlink

☆ Oracle's Larry Ellison thinks every government will want to build a 'sovereign' AI cloud in the future
▼ + stars: | 2024-04-07 | by ( Michelle Castillo | ) www.cnbc.com time to read: +8 min

Oracle, which works with Nvidia and Microsoft on generative AI capabilities, has already helped use cloud tech to cut red tape for countries. For the first time, we're beginning to win business for countries," Ellison said. Countries including Serbia are standardizing on Oracle Cloud Infrastructure and using generative AI for processes like automating health care. Cloud and generative AI applications allowing countries to give rural areas internet access could increase educational opportunities and create more economic value. "There's the 'Black Mirror' bad side of it: Big Brother, data wars, AI warfare and all that stuff," Garder said.

Persons: Raimo Lenschow, Ellison, Oracle's Larry Ellison, it's, Elon Musk's, you've, we've, Dan Gardner, Tapan Parikh, Parikh, Garder, Gardner, Simone Bohnenberger, It's, Bohnenberger, there's Organizations: Oracle, Barclays, EU, Nvidia, Microsoft, European, Amazon, Department of Defense, Google, Infrastructure, Oracle Cloud Infrastructure, Cornell University, U.S Locations: Serbia, Albania, European Union, Kenya, Rwanda, U.S, China, TikTok

☆ Billie Eilish, Nicki Minaj, Jon Bon Jovi and over 200 artists call for protections against “predatory use of AI”
▼ + stars: | 2024-04-05 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +3 min

US singer songwriter Billie Eilish arrives for the 2024 People's Choice awards at the Barker Hangar in Santa Monica, California, February 18, 2024. More than 200 music artists including stars like Nicki Minaj, Katy Perry, Billie Eilish, Stevie Wonder, J Balvin and Jon Bon Jovi have signed an open letter warning against the "predatory use of AI" in the music industry. "We must protect against the predatory use of AI to steal professional artists' voices and likenesses, violate creators' rights, and destroy the music ecosystem," the letter states. Streaming platforms and tech companies "can't turn a blind eye to these types of concerns from the creative community," he tells CNBC Make It. The company noted the risks voice cloning technology presents and says the tool has not been released to the public at this time.

Persons: Billie Eilish, Nicki Minaj, Katy Perry, Stevie Wonder, J Balvin, Jon Bon Jovi, AI's, Michael Huppe, Huppe, ChatGPT, OpenAI Organizations: Barker, Georgetown University, CNBC Locations: Santa Monica , California, Tennessee

☆ 9 AI jobs you can get without being an expert coder, from product designer to sales engineer
▼ + stars: | 2024-04-03 | by ( Aaron Mok | ) www.businessinsider.com time to read: +8 min

Here are nine AI jobs that don't require programming skills, from policy analysts to sales engineers. AI product managerCompanies are looking to hire professionals who can bridge the gap between technical AI development and business acumen. Ideal candidates combine a deep technical understanding with "strong sales and communication" skills to demonstrate value to potential clients. AI business analystCompanies new to AI may wonder just how and where to deploy the technology. AI policy analystExpertise in public policy may help you land a job as an AI policy analyst.

Persons: —, they're, J.T, O'Donnell, Alex Libre, Biden Organizations: Service, LinkedIn, Einstellen, Companies, Employees, CIA

☆ Part scary, part exciting: How artists are using AI in their work
▼ + stars: | 2024-04-01 | by ( Lucy Handley | ) www.cnbc.com time to read: +7 min

But they also said they were excited about what generative AI might bring. Installation artist Rubem Robierb was "shocked" when he first saw what generative AI could do, he told CNBC by phone. "In its infancy, [generative] AI can create more images in a second [than] the human brain can even process. As it exists right now, [generative] AI sources from known images, known artwork, and known artists to complete a task. Generative artUsing generative AI in an ethical manner is a key consideration for London gallery the Serpentine, which has developed AI projects with artists since 2014, according to its CEO Bettina Korek.

Persons: Refik, Hugo Glendinning, OpenAI's DALL, Rubem Robierb, Robierb, Dandara dos Santos, Rubem, Bettina Korek, Refik Anadol, Korek, Anadol, Julian Espagnon, Danilo S, Shane Guffogg, Carlucci, Holly Herndon, Mat Dryhurst, Jordan Meyer, Guffogg, I'm Organizations: CNBC, Celebrity Cruises for Edge, Smithsonian Institution, Economic, United Arab, & Systems, gallery's Arts Technologies Locations: London, New York City, Fortaleza, Brazil, New York, Miami, Europe, Serpentine, Davos, Switzerland, United Arab Emirates, Herndon, Venice, Italy, California

Bernstein lowered its price target on Tesla, calling for 30% downside. Meanwhile, Mizuho raised its price target on Micron, citing a growing AI opportunity. The firm reiterated a buy rating on the computer storage and memory stock on Monday and raised its price target to $130 per share from $124. — Brian Evans 5:53 a.m.: Bernstein cuts Tesla price target Longtime Tesla bear Toni Sacconaghi lowered his price target on the EV maker to $120 from $150, citing growing demand constraints. TSLA YTD mountain TSLA ytd — Fred Imbert

Persons: Bernstein, Mizuho, Jason Getz, — Brian Evans, Toni Sacconaghi, Tesla, Sacconaghi, Fred Imbert Organizations: CNBC, Micron, Mizuho, Mizuho Securities Locations: China, Europe

☆ Managers are worrying that their salaries will get cut because of AI, a survey found
▼ + stars: | 2024-03-25 | by ( Aaron Mok | ) www.businessinsider.com time to read: +1 min

Nearly half of US managers surveyed by Beautiful.ai worry that AI tools can lower wages. Some managers say tools like OpenAI's ChatGPT could do their jobs better than them. AdvertisementManagers are worried that using powerful generative AI tools like OpenAI's ChatGPT in the workplace might cut their salaries. Of those surveyed, 48% of managers reported that AI tools are a "threat to their pay" and will "fuel wage declines" across the country in 2024. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Service, Business

☆ Cramer's Lightning Round: Datadog is a 'dynamite company'
▼ + stars: | 2024-03-18 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Marvell Technology's year-to-date stock performance. Stock Chart Icon Stock chart icon Datadog's year-to-date stock performance. Stock Chart Icon Stock chart icon Altimmune's year-to-date stock performance. Stock Chart Icon Stock chart icon Lantheus' year-to-date stock performance. Stock Chart Icon Stock chart icon SoFi's year-to-date stock performance.

Persons: Marvell, Centrus, it's, Eli Lilly, Lantheus, they've, Jim Cramer's Organizations: Marvell Technology, Centrus, GE

☆ The big push for AI, TikTok bans, and spaces for influencers of color: Here are 3 takeaways for creators from SXSW.
▼ + stars: | 2024-03-17 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +6 min

AI was very popular, but most panels failed to discuss the consThe harmful impacts of AI dominated the conversation among creators at SXSW. Related storiesIn a session titled "AI in Video: Revolutionizing or Replacing Creators," Vimeo product executive Zohar Dayan's presentation similarly focused on the technology's benefits. Talk of a TikTok ban? Employees and creators are 'bored' of itOutside SXSW, the conversation has picked up about a potential TikTok ban in the US , but there was radio silence about it in Austin among the TikTok employees and creators I met. "We're so bored of that topic, honestly," said two TikTok employees, who spoke on condition of anonymity out of concern about facing repercussions from their employer.

Persons: Cassey Ho, OpenAI's, Peter Deng, Deng, Zohar, Dan Whateley, they've, Kahlil Greene, he's, Jerry Won, Justin Nguyen, Mylen Yamamoto Tansingco, Sam Li, Sean Kim, Sam Yam, Austin Hilton, Tumi Brooks Organizations: Southwest, Delta Air Lines, Business, IBM, SXSW, Snapchat, Pershing House, Talent, Austin, Austin Hilton Hotel, Convention Locations: Austin, Australia, China, member's, TikTok, Netflix's, Singapore

☆ Demand for a hot new AI role is skyrocketing — but some say it won't last.
▼ + stars: | 2024-03-16 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +8 min

Day to day, she coaxes AI models like OpenAI's GPT, utilizing natural language to manipulate the model into spitting out exactly the content she wants. "I just find it really interesting, really fun — it's like solving a word puzzle," Daniel, whose résumé also includes a prompt engineering role at LinkedIn, said. AdvertisementDaniel is part of a wave of a new kind of AI engineers — those without formal tech skills. AdvertisementDemand for prompt engineers has been skyrocketing amid the AI hype, and salaries are echoing the excitement. "I think different standards will emerge between what everybody can do and what the expert prompting engineers can do," she said.

Persons: —, Kelly Daniel, Daniel, Lazarus, Tanya Thomas, Thomas, Antropic, OpenAI's ChatGPT, Critics, Conor Grennan, Grennan, Rick Battle, Teja, Vasudev Lal, Lal, Yinuo Chen, Chen, there'll, Mark Zuckerberg's, she's Organizations: Service, LinkedIn, Google, NYU Stern School of Business, VMware, Intel Labs, Meta Locations: Beijing

☆ Bill Gates says AI won't magically solve problems that humans aren't already good at
▼ + stars: | 2024-03-15 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Bill Gates is one of AI's most enthusiastic proponents, but is wary of the technology's limitations. The key for current AI models, Gates says, is to have "data that embodies the expertise." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBill Gates has been thinking about AI since long before there was AI. This story is available exclusively to Business Insider subscribers.

Persons: Bill Gates, Gates, — Organizations: Service, Microsoft, Business

☆ Europe is trying to regulate AI. That could backfire.
▼ + stars: | 2024-03-14 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

One AI expert said it risks creating "AI policy tax havens" as countries try to attract investment. "Europe is NOW a global standard-setter in AI," Thierry Breton, the European internal market commissioner, said on X. Other countries, including China, have already brought in rules around specific uses of AI. AdvertisementThe legislation has been questioned by some commentators, such as AI and deepfakes expert Henry Ajder, who called it "very ambitious." The EU legislation plans to assign the risks of AI applications into three categories, with applications that cause unacceptable risk set to be banned.

Persons: —, Thierry Breton, Henry Ajder, Neil Serebryany, Avani Desai, Schellman, Marcus Evans, Norton Rose Fulbright Organizations: EU, Intelligence, Service Locations: Europe, China, EU, California

☆ CNBC Daily Open: Wall Street wary as inflation data looms
▼ + stars: | 2024-03-12 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Overnight, U.S. stocks ended mixed as investors await key inflation data for clues on the Federal Reserve's path on rate cuts. "The question is to what extent and how broad will it be," he told CNBC. Web inventor's top predictionsTim Berners-Lee, recognized for inventing the World Wide Web, told CNBC his top predictions for the future of the web — and how it will be transformed by Al.

Persons: Patria Stodghill, vender Susan Mendoza, Hang Seng, Dow, Shaun Rein, it's, Steven Okun, Tim Berners, Lee Organizations: Patria, Washington , DC, CNBC, CSI, Nikkei, Nasdaq, China Market Research, APAC Advisors, Al, Barclays Locations: Washington ,, Hong Kong, Asia, China, U.S, Washington

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