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Bank of America has dubbed global companies exposed to the demand for generative artificial intelligence solutions as "winners," picking stocks across the software and IT services sectors. It described the AI opportunity within the software industry as "undeniably vast" in a research note dated 12 July, and ranked European companies in the sector. "Huge quantities of data about a company's operations are held within a company's ERP system which makes the software vital in any generative AI integration," BofA's analysts stated. "We see gen AI as an opportunity for the Software industry to derive both potential revenue uplift via enhanced value proposition and data monetization, alongside productivity improvements," the bank said. BofA also looked at the effect of generative AI on the IT services industry and said implications "are the most polarised," noting concerns over drops in sales due to tasks being automated.
Persons: BofA, Frederic Boulan, — CNBC's Michael Bloom Organizations: of America, Dassault Systemes, SAP, Software, IT, International Data Corporation Locations: French, German
A Jenny Craig sign hangs on the wall outside of the weight loss store on April 28, 2023 in Miami, Florida. Adcock said all former Jenny Craig customers have been notified by email and in the brand's Facebook groups about the relaunch. After four decades in business, Jenny Craig, based in Carlsbad, California, filed for Chapter 7 bankruptcy in Delaware on May 5, court records show. He said prices at Jenny Craig would remain similar to what they were before its bankruptcy but declined to share more details. The complaint alleges that hundreds of former Jenny Craig staffers could be owed some restitution.
Persons: Jenny Craig, Jenny Craig's, Brandon Adcock, Adcock, Jenny Craig couldn't, provider's, Wellful, we'll, Nutrisystem, they'd, We've, Jack Raisner Organizations: Wellful Inc, Facebook, NBC News, Adaptive, Kainos Locations: Miami , Florida, Carlsbad , California, Delaware, Dallas, Wellful, U.S
SummarySummary Companies Domestic house prices rise in MayUK lowers stake in NatWest, shares climbDechra Pharma down after profit warningUS debt ceiling talks to resume after impasseFTSE 100 0.3%, FTSE 250 flatMay 22 (Reuters) - UK's blue-chip index edged higher on Monday, with NatWest shares rising after it agreed to buy 1.3 billion pounds ($1.6 billion) worth of its shares back from the government, although lingering uncertainty over the U.S. debt ceiling impasse weighed on overall mood. The FTSE 100 (.FTSE) rose 0.3%, with bank stocks in the lead. Standard Chartered (STAN.L) rose 2.4% after Bank of America upgraded the stock to "buy" from "neutral". UK-listed stocks have traded in tight bands since late April as investors digested mixed corporate earnings, weakening outlook for commodity-linked stocks and standoff over the U.S. debt ceiling deal. ($1 = 0.7923 pounds)Reporting by Johann M Cherian in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.
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