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☆ Morgan Stanley: These 5 stocks are well-positioned to reap the rewards of rising artificial intelligence adoption
▼ + stars: | 2023-06-25 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +4 min

Information technology firms should benefit as the adoption of artificial intelligence increases. For instance, another subset of technology firms that could capitalize on the rise of automation enabled by AI, especially in the near term, includes information technology services vendors. Although this may be true, the analysts also noted that information technology firms have traditionally been quick to adapt to and adjust for technological advancements. 5 stocks poised to benefit from the rise of AIEven within the information technology industry, it's clear that not all firms are created equally. In the report, the analysts identified five information technology companies that are uniquely positioned to become key beneficiaries of rising artificial intelligence adoption.

Persons: Morgan Stanley Organizations: Nvidia, IT Services, Services

"It's hard to think of an area that this couldn't help," said Diogo Rau, Eli Lilly chief information and digital officer. He said Lilly already is using generative AI to write patient safety reports and clinical narratives, and ultimately, it will play a role in drug discovery. One of the most anticipated uses for generative AI is in customer relationship management, and that is happening at more companies. Others noted their firms are in the early days of rolling out code generation tools using gen AI, as well as AI "co-pilots" across many roles, and using generative AI to help make investment decisions. Generative AI could enable a more customized and pro-security posture for organizations," he said.

Persons: OpenAI, Diogo Rau, Eli Lilly, Lilly, Rau, Eddie Fox, It's, Fox, Nicole Coughlin, Cybersecurity, ransomware, Jim Richberg, Richberg, Joe Levy, Sophos, it's, Levy Organizations: CNBC, Nvidia, Google, Microsoft, TEC, CNBC Technology, Epic, AIs Locations: Cary , North Carolina, Fortinet

☆ Salesforce insiders say that by wooing back former execs, Marc Benioff may finally feel comfortable enough to loosen his grip
▼ + stars: | 2023-06-12 | by ( Julie Bort | ) www.businessinsider.com time to read: +5 min

Salesforce CEO Marc Benioff has been wooing back former executives for years. Insiders say that those that know Benioff best may get him to loosen his grip. Salesforce founder and CEO Marc Benioff has spent years wooing former executives back to the company. Benioff has surrounded himself with people "that know how Salesforce works and know how Benioff works" one former exec explained. With all of that new blood from aquisitions washed away, Benioff seems to think Salesforce can move forward by going back.

Persons: Marc Benioff, Brian Millham, Millham, Salesforce, Benioff, he's, Miguel Milano, Ariel Kelman, Kendall Collins, Steve Fisher, Dave Moellenhoff, Jim Steele, Clara Shih, Marc, —, Larry Ellison, Benioff's, Keith Block, Bret Taylor, Slack, Stewart Butterfield, Mark Nelson, Julie Bort Organizations: Oracle, Twitter Locations: Salesforce

☆ European tech fund EQT Growth set to poach investor from Goldman Sachs who will join as a new partner, sources say
▼ + stars: | 2023-06-09 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

European venture fund EQT is set to hire a Goldman Sachs investor as a partner, Insider understands. A managing director from Goldman Sachs Growth Equity is set to join the fund, sources say. An investor at Goldman Sachs' startup investment arm is set to depart the banking giant to join up with Swedish private equity and venture firm EQT Growth, Insider understands. Kirk Lepke, a London-based managing director at Goldman Sachs Growth Equity, is primed to be poached by the Stockholm investor, two sources familiar with the matter said. Both EQT Growth and Goldman Sachs declined to comment.

Persons: Goldman Sachs, Kirk Lepke, Lepke, EQT, Mollie, Lepke's, Julien Bek Organizations: Goldman Sachs Growth Equity, Goldman, DoorDash, Torch, Summit Partners, Apple Locations: Europe, London, Stockholm, New York, Boston, Lithuanian, Crunchbase

☆ Tiny tech bank defies US massacre of the minnows
▼ + stars: | 2023-06-08 | by ( John Foley | ) www.reuters.com time to read: +6 min

One example is $1 billion Live Oak Bancshares (LOB.N), which flouts many preconceptions about what it means to be a tiny U.S. bank. But if those failures demonstrated that rapid growth brings escalating risk, Live Oak is a counterexample. Because of the way that programme is structured, around 40% of Live Oak’s lending carries a government guarantee. The company spun out its cloud-based banking software division nCino (NCNO.O) in 2014; that firm is now worth $2.8 billion, more than twice Live Oak’s value. That more earthly valuation might reflect Live Oak’s biggest risk: that it starts to look more like the rest of the pack.

Persons: it’s, Chip Mahan, SVB, It’s, Huntley Garriott, Goldman Sachs, reckons, ’, Keefe, Mahan, Liam Proud, Streisand Neto Organizations: YORK, Reuters, Wachovia, Valley Bank, U.S, Regional, Silvergate, Reuters Graphics Reuters, government’s, Business Administration, SBA, Federal, Truist, PNC Financial Services, redwoods, Twitter, Thomson Locations: United States, North Carolina, U.S

☆ These ‘all weather’ best-in-class stocks are a must-own as summer nears, Morgan Stanley says
▼ + stars: | 2023-06-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Morgan Stanley named a slew of must-own stocks this week that the firm said are firing on all cylinders ahead of summer. They include Bath & Body Works , Take-Two Interactive, RBC Bearings, Thermo Fisher Scientific and American Express. RBC Bearings "[The] growth story remains intact," analyst Kristine Liwag said of the aerospace and industrial bearings maker. "We continue to view RBC Bearings as a high-quality industrials compounder with attractive growth and margin expansion potential," she wrote. … We continue to view RBC Bearings as a high-quality industrials compounder with attractive growth and margin expansion potential.

Persons: Morgan Stanley, Morgan, Matthew Cost, he's, Kristine Liwag, Liwag, Alex Straton, BBW, Straton, mgmt, Amex hasn't Organizations: CNBC, Body, Interactive, RBC, Fisher Scientific, American Express, Dodge Industrial, … Locations: Biopharma

In their joint venture agreement, Baker Hughes says it uses C3.ai's solutions and also sells the product to companies in the oil and gas industry. CNBC's "Last Call" aired a report Thursday night on the investor lawsuit against C3.ai and the company's relationship with Baker Hughes. The lawsuit says the publicity about the massive Baker Hughes sales force "artificially inflated C3's stock" when the company first went public. Richard Drew | APIn an April 2023 filing, Baker Hughes announced it divested 1.7 million C3.ai shares, bringing its ownership to 6.9 million shares. Kerrisdale pointed to C3.ai's "highly conspicuous growth" in unbilled receivables, largely from Baker Hughes, and wrote that "accounting red flags abound with the Baker Hughes relationship."

Persons: Tom Siebel, Siebel, Thomas M, Chris J, Ratcliffe, it's, Baker Hughes, Logan Roy, Larry Ellison, Yasmin Khorram, Dan Brennan, We've, Brennan, he's, CNBC's, Reed Kathrein, Theranos, —, Kathrein, Richard Drew, they'd, unbilled, receivables, Siebel's, Ken Goldman, Goldman, Gil Luria, Davidson, Luria, Nick Wells, Scott Zamost, Sam Woodward, Tom Siebel's Organizations: Siebel Systems, Oracle, Bloomberg Tech Summit, Bloomberg, Getty, CNBC, Forbes, Siebel, C3, U.S . Department of Defense, Shell, Northern District of, SEC, Twitter, " Traders, New York Stock Exchange, AP, Point Capital Management, Spotify, C3 Energy, Revenue, Wall Locations: London, Redwood City , CA, Redwood City , California, Northern District, Northern District of California, unbilled receivables, Point

One is about the possibility that we’re going to have this super intelligent AI that’s capable of great destruction. casey newtonI think that’s right. But it’s just like — I don’t think — I don’t think about to do these things in the moment like Dan. I don’t think that there’s an ethical issue with doing what he wants to do. And yeah, I just think it’s going into an area that’s going to be uncomfortable for the friend.

Persons: kevin roose, casey newton, we’re, ” casey newton I’ve, kevin roose It’s, Kevin Roose, ” casey newton, Casey Newton, clowned, New York Times ’, Kate Conger, Casey, Ajeya Cotra, kevin roose Totally, Sam Altman, Demis Hassabis, Dario Amodei, Elon Musk, Steve Wozniak, They’re, Kevin, Dan Hendricks who’s, “, “ I’m, don’t, you’re, I’m, — casey newton, it’s, ChatGPT, casey newton I’m, I’ve, Martinez, Varghese, kevin roose Tyler, —, Steven A, Schwartz, ”, they’re, it’ll, there’s, Mr, Bean, We’ve, James Vincent, It’s, Jensen Huang, Harry Potter, Harry Potter of, kevin roose —, casey newton Parallelelizable, Parallelizable, — casey newton Let’s, that’s, who’s, NVIDIA —, casey newton Well, doesn’t, katie cogner, Kate Conger who’s, katie cogner Hi, katie cogner I’m, Dan, what’s, Getty, casey newton Kate, let’s, John, Here’s John, john, kevin roose That’s, Kate, he’s, He’s, he’ll, casey newton That’s, There’s, we’ve, “ I’ve, ” Kate, cogner, Prince Harry, katie cogner Doesn’t, Harry, casey newton We’re, We’re, kevin roose Kate, they’ve, Joni Mitchell, Chris Vecchio, Chris, kevin roose I’m, You’d, casey newton “, you’ll, casey newton Oh, ” kevin roose Organizations: The New York Times, NVIDIA, New York Times, Safety, Google, AI, ChatGPT, Avianca Airlines, Delta Airlines, China Southern Airlines, KLM Royal Dutch Airlines, Royal Dutch Airlines, “, Bar Association, Texas, M University Commerce, Apple, Microsoft, Netflix, Harry Potter of Kentucky Christian, Facebook, eBay, “ New York Times, Boston, Garden, MetLife, TED, AIs Locations: British, Avianca, Durden, ChatGPT, Taiwan, Kentucky, Hogwarts, Harry Potter of Kentucky, California, Madison, —

☆ Bank of America ranks the biggest A.I. winners in software stocks. Here are its top picks
▼ + stars: | 2023-05-31 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

As investors look for winners in the artificial intelligence boom, several software stocks stand out, including Microsoft and Oracle, according to Bank of America. Given the "immense opportunity ahead for both vendors and investors," Bank of America analysts have created a proprietary ranking system to identify potential AI beneficiaries in the software group. The rankings identify consensus AI leaders and software vendors, the firm said in a note Tuesday. "We have created a proprietary framework of analysis (based on 13 yes or no questions) that investors can use to predict potential AI beneficiaries. HubSpot may also potentially use AI for data cleansing and email data capture, among other things, he said.

Persons: Brad Sills, Bing, OpenAI, Sills, HubSpot, — CNBC's Michael Bloom Organizations: Microsoft, Oracle, Bank of America, Nvidia, OpenAI, HubSpot Locations: OpenAI

☆ Marc Benioff touts Salesforce's 'performance culture' as the cloud giant speeds towards the profit margins Wall Street wants
▼ + stars: | 2023-05-31 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +3 min

CEO Marc Benioff said the company's "performance culture" is fueling that profitability. Guidance for the company's adjusted operating margins for its current fiscal year, 2024, has been raised to 28%, CEO Marc Benioff said on Salesforce's first-quarter earnings call Wednesday. That is a significant stride towards the company's goal of exceeding 30% adjusted operating margins in the next two years, a goal Insider reported in February. Profit margins improved in the first quarter largely thanks to the company's restructuring plans, which included laying off 10% of its workforce and shedding office space. Both Benioff and chief operating officer Brian Milham touted the company's "performance culture" for driving its results in the first quarter.

Persons: Salesforce, Marc Benioff, Amy Weaver, Brian Milham, Benioff, Milham, Slack, Ellen Thomas Organizations: Elliott Management, Revenue Locations: Salesforce

☆ Salesforce CEO Marc Benioff says new AI-enhanced products will be a 'revelation'
▼ + stars: | 2023-05-31 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CEO of cloud software company Salesforce Marc Benioff told CNBC's Jim Cramer on Wednesday that artificial intelligence will be and already is a boon for the company, especially when it comes to one of its recently-acquired products, messaging application Slack. "It's going to be an incredible revelation for our customers, that they've got intelligence by their side with Slack." He added that Salesforce's use of AI has already started to benefit it clients, from New York's Northwell Health hospital group to luxury retailer Gucci, which used Salesforce's AI products to enhance their call center employees' performance. "It actually transformed the call center agents into sales agents, into marketing agents, it gave them capabilities they did not have, it augmented them." Salesforce reported a decent quarter on Wednesday after the market's close, with profits up 68% year-to-date by the market's close.

Persons: Marc Benioff, CNBC's Jim Cramer, Slack, Benioff, Cramer, they've, " Slack, it's, Salesforce Organizations: Health, Gucci Locations: New

May 30 (Reuters) - Crown Resorts, the Australian casino operator bought by Blackstone Inc (BX.N) after three damaging inquiries, agreed to pay a A$450 million ($294 million) fine for breaking anti-money laundering laws, a step toward ending its darkest chapter. "We are pleased to have reached this agreement with AUSTRAC," said Crown Resorts CEO Ciarán Carruthers, who started in the role in September. "The company that committed these unacceptable, historic breaches is far removed from the company that exists today." Australian regulators over the recent years have penalised a slew of companies over breaches and non-compliances, with the country's "Big Four" banks fined the most. ($1 = 1.4743 Australian dollars)Reporting by Byron Kaye in Sydney and Harish Sridharan in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Crown Resorts and Australian regulator agree to $294 mln penalty
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +1 min

May 30 (Reuters) - Crown Resorts has agreed to a A$450 million ($294 million) penalty after it failed to prevent money laundering and criminal activity at its casinos, Australia's financial crime regulator said on Tuesday. In reaching the agreement, Crown has admitted that it operated in breach of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act), AUSTRAC said. Crown Melbourne and Crown Perth casinos failed to appropriately assess the money laundering and terrorism financing risks they faced, and to identify and respond to changes in risk over time, the regulator added. "The company that committed these unacceptable, historic breaches is far removed from the company that exists today," Crown said in a statement. ($1 = 1.4743 Australian dollars)Reporting by Harish Sridharan in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Here’s the secret sauce that fueled Palo Alto Networks’ beat and raise despite tough times
▼ + stars: | 2023-05-23 | by ( Jeff Marks | ) www.cnbc.com time to read: +6 min

Bottom line Once again, Palo Alto Networks delivered an upside quarter despite uncertainty related to the slowing and more cost-conscious macroeconomic environment. Palo Alto Networks isn't cheap on a classical earnings basis. The fiscal Q3 results clearly show Palo Alto Networks as a preferred partner despite industry headwinds related to elongated sales cycles. PANW YTD mountain Palo Alto Networks (PANW) YTD performance Outlook For Palo Alto Networks' current fiscal 2023 fourth quarter, the company sees rosy times ahead. Signage outside Palo Alto Networks headquarters in Santa Clara, California, U.S., on Thursday, May 13, 2021.

☆ Meta spins out customer service startup Kustomer amid 'year of efficiency'
▼ + stars: | 2023-05-16 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +2 min

Visitors take photos in front of the Meta (Facebook) sign at its headquarters in Menlo Park, California, on December 29, 2022. Meta has spun out the enterprise startup Kustomer, which it bought in 2020 for roughly $1 billion. Kustomer announced the spin-out in a blog post published Monday, pitching the deal as the startup's "next chapter as an independent company." Kustomer's original investors, which include Battery Ventures, Boldstart Ventures and Redpoint Ventures, have invested an additional $60 million into the startup, which now has a reported valuation of $250 million. Meta CEO Mark Zuckerberg has described 2023 as the company's "year of efficiency" and plans to lay off roughly 21,000 workers by early summer.

☆ Here are 10 AI-powered tools to help boost your productivity at work
▼ + stars: | 2023-05-09 | by ( Sarah Jackson | Aaron Mok | ) www.businessinsider.com time to read: +8 min

ChatGPT isn't the only AI-powered tool that can help make your job easier. Here are 10 that can help with everything from generating slideshows to writing emails. Tome: Building slide decksIf you make a lot of PowerPoints for work, the app Tome can help you do it faster. Managing your inbox can be a pretty tedious time-suck, but tools like Remail might help you get through emails more efficiently. Brain.fm, an AI-generated music tool, can help users stay on task.

Pros Check mark icon A check mark. Competitive APY Check mark icon A check mark. Easy to save for various goals Check mark icon A check mark. Pros Check mark icon A check mark. Competitive APY Check mark icon A check mark.

☆ I use ChatGPT and it's like having a 24-7 personal assistant for $20 a month. Here are 5 ways it's helping me save time and make more money.
▼ + stars: | 2023-05-03 | by ( Robin Madell | ) www.businessinsider.com time to read: +10 min

She says using ChatGPT is like having an assistant and gives her more time to focus on her children. It also helps me answer client questions in a contextually appropriate way and has afforded me more time to concentrate on my kids' extracurriculars or help them with homework. I've created a list of common questions that potential clients ask about particular properties, buildings, or locations, such as, "What's the square footage?" I'm able to engage with a larger number of potential clients at any given time. Generates data reportsChatGPT can generate data reports that allow me to analyze the performance of particular client interactions, as well as outreach and marketing campaigns.

☆ I use ChatGPT and it's like having a 24/7 personal assistant for $20 a month. Here are 5 ways it's helping me save time and make more money.
▼ + stars: | 2023-05-03 | by ( Robin Madell | ) www.businessinsider.com time to read: +10 min

She says using ChatGPT is like having an assistant and gives her more time to focus on her children. It also helps me answer client questions in a contextually appropriate way and has afforded me more time to concentrate on my kids' extracurriculars or helping them with homework. I've created a list of common questions that potential clients ask about particular properties, buildings, or locations, such as "What's the square footage?" And once we receive a response from the potential client, we can forward their information to the relevant team for a more personalized follow-up. I'm able to engage with a larger number of potential clients at any given time.

☆ AMD beats on the top and bottom lines but is still a second-half story. Here's why
▼ + stars: | 2023-05-02 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

The good news: Advanced Micro Devices (AMD) first-quarter beat on Tuesday revealed a likely bottom in its struggling PC business. The not-as-good: The chipmaker won't resume the kind of growth we're used to until the second half of the year. Here's why: Management sees some "modest" data center growth in the second quarter, but demand remains suppressed as a result of ongoing cloud optimization efforts. Outlook AMD provided an outlook for the second quarter of 2023 that was slightly below expectations. Ultimately management expects sequential growth in client and data center to be offset by "modest declines" in gaming and embedded.

☆ Monitoring Financial Institution Compliance
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +41 min

Compliance MonitorshipsA compliance monitor (also called an independent examiner or independent compliance consultant) is an impartial party appointed by the government to detect the root causes of the institution’s compliance failures. The purpose of a compliance monitor is not to address a particular compliance failure or punish the institution. Responded to compliance issues, in a timely manner and in a way that demonstrates that the institution takes compliance issues seriously. Compliance Department EmployeesThe monitor must evaluate the adequacy of compliance department employees, including the number of compliance employees, their experience, and their expertise. Assess the Compliance SystemsThe monitor typically engages compliance technology experts, who have specific knowledge of coding and compliance technology software, to test and evaluate the institution’s compliance systems.

☆ Benioff vs. Benioff
▼ + stars: | 2023-04-28 | by ( Ashley Stewart | Ellen Thomas | ) www.businessinsider.com time to read: +29 min

Within Salesforce, Benioff riffs are at times met with backlash from an angry workforce. "You're not going to fire your family during times of need," a former Salesforce executive told Insider. "I don't think they understand Ohana," Benioff told Insider. "Look, we have to be the example of stakeholder capitalism," Benioff told Insider. A 'New Day' at Salesforce"I use the Japanese principle of shoshin, beginner's mind," Benioff told Insider in a phone interview in March.

☆ Amazon earnings: Company posts $3.2 billion profit as it goes through multiple rounds of layoffs
▼ + stars: | 2023-04-27 | by ( Krystal Hur | ) edition.cnn.com time to read: +1 min

The e-commerce giant on Thursday reported a profit of $3.2 billion for the first quarter, up from a loss of $3.8 billion in the year ago quarter and far exceeding analysts estimates. The swing to a profit comes as Amazon (AMZN) has ramped up its cost-cutting measures in recent months. It also comes as key areas of Amazon’s business continue to grow despite lingering recession fears possibly weighing on corporate and consumer spending. Amazon expects second-quarter net sales to grow between 5% and 10% from the same period the year before, or be between $127 billion and $133 billion. “The results indicate that ongoing cost-cutting measures are having a positive impact on Amazon’s business prospects,” said Jesse Cohen, senior analyst at Investing.com.

☆ 2 brothers got stuck for 2 days after American Airlines canceled their connecting flight and didn't offer any vouchers
▼ + stars: | 2023-04-23 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Derick Andrew and his brother were stranded in Dallas for two days after their flight was canceled. Two American Airlines passengers were left stranded for two days and had to pay for their own hotel and food after their connecting flight was canceled. The brothers, both 35, found out their flight got canceled when they got to Dallas Fort Worth International airport. "We were told unambiguously 'no,' that we would not get a refund for a flight canceled due to weather," Andrew told Insider. "I contacted AA through the app again and said regulation shows I should be reimbursed for the canceled flight and they said we could get a refund if we didn't rebook another flight."

☆ Amazon CEO Andy Jassy says he's confident he can get costs under control in shareholder letter
▼ + stars: | 2023-04-13 | by ( Annie Palmer | ) www.cnbc.com time to read: +38 min

Further, as machine learning adoption has continued to accelerate, customers have yearned for lower-cost GPUs (the chips most commonly used for machine learning). While some areas of the economy have struggled over the past few years, Amazon Business has thrived. Some people have never heard of Amazon Business, but, our business customers love it. For years, Amazon customers had asked us when we'd offer them an online pharmacy as their frustrations mounted with current providers. More recently, a newer form of machine learning, called Generative AI, has burst onto the scene and promises to significantly accelerate machine learning adoption.

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