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☆ AI largely beat human CEOs in an experiment — but it also got fired more quickly
▼ + stars: | 2024-10-10 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +5 min

AI mostly outperformed human executives in an experiment by University of Cambridge researchers. But AI wasn't as good at making decisions in unexpected "black swan" events. That led to AI getting fired by a virtual board of directors more quickly than humans. Because of that, AI got fired more quickly by a virtual board of directors than its human counterparts, which navigated unexpected situations better. When a "black swan" event occurred, the bot couldn't address it as quickly — or as well — as the human executives and students.

Persons: —, Hamza Mudassir, Mudassir, LLMs Organizations: University of Cambridge, Service, Cambridge, Harvard Business Locations: Cambridge, OpenAI

CNN —Unidentified gunmen killed nine Pakistani workers in the restive southeastern border region of Iran, Pakistani officials say, just over a week after Iran and Pakistan carried out military strikes on each other’s territory. No group or individuals have taken responsibility for the attack, in the city of Saravan, according to Iran’s semi-official Mehr News Agency. “Embassy will extend full support to bereaved families.”“We called upon [Iran] to extend full cooperation in the matter,” he added. Last week, Pakistan and Iran carried out tit-for-tat strikes on militants on each other’s soil in a major escalation of tension between the two sides. Both nations have long fought militants in the restive Baloch region along the border.

Persons: “, ”, Muhammad Mudassir Tipi, Mumtaz Zahra Baloch, Iran’s Ministry of Foreign Affairs “, Nasser Kanani, Kanani, Pakistan “ Organizations: CNN, Mehr News Agency, Pakistan’s, “, Pakistani Ministry of Foreign Affairs, Foreign, Iran’s Ministry of Foreign Affairs Locations: Iran, Pakistan, Saravan, Balochistan, Sistan, Baluchestan, restive Baloch

☆ X is left with advertisers pushing dubious cryptocurrency and AI 'undressing' apps, users say after Musk's outburst
▼ + stars: | 2024-01-20 | by ( Tom Carter | ) www.businessinsider.com time to read: +6 min

Some X users are complaining the site is overrun with ads pushing crypto and AI "undressing" apps. Social media experts say an advertiser exodus has left X reliant on less reputable buyers. AdvertisementElon Musk's war on advertisers seems to be having some unintended consequences for X. Business InsiderOther suspect advertisements have been spotted on the site, with users also complaining about a surge in ads on their timelines for "undressing" apps. "It also shows the race to the bottom that the X platform has fallen into," he added.

Persons: Elon Musk, —, Elon, xqCDa7Ilgm, kevin harrish, Jeff MacDonald, Mekanism, Hamza Mudassir, Musk, Alex Jones, MacDonald, Linda Yaccarino, X, Matt Navarra Organizations: Social, Service, Business, Twitter, Media, Cambridge University, Apple, Disney, The New York Times, Times, IBM, Walmart

☆ 10 Things in Tech: Google tells employees not to give AI chatbots confidential information, the rise of the ‘anti-work girlboss,’ and 31 rising stars of Los Angeles investing
▼ + stars: | 2023-06-20 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

Mark Zuckerberg at Facebook's first ever Meta Store Facebook/Meta1. The first "Meta Store" opened last year in Northern California and was designed to increase interest in Meta's VR headsets. Although a second store was in the works, someone familiar with the matter said that those plans faltered after slowed revenue. Google tells employees not to put confidential info into AI chatbots — including its own Bard. Reddit CEO Steve Huffman said subreddit mods have too much power.

Persons: I'm, Siu, Zers, haven't, Jordan Hart, Mark Zuckerberg, Facebook's, Martin Gilliard, hasn't, Kali Hays, chatbots, Steve Huffman, Mudassir Sheikha, Ron DeSantis, Thiep Van Nguyen, Lionel Richie, Diamond Naga Siu, Alistair Barr, Hallam Bullock Organizations: Meta, VR, Big Tech, Google, Tech, Tesla, Gov, Puget Sound Naval Shipyard, Navy, Hewlett Packard Enterprise, VMWare, Dallas Cowboys, Mitsubishi Locations: Sacramento, Northern California, Angeles, Florida, Connecticut, USS Connecticut, Dublin, Ireland, Melbourne, Australia, Las Vegas, San Diego, San Francisco, London

☆ Tech workers blast startup CEO who said he didn't want to hire workers focused on pay, or those who want to 'clock in and out'
▼ + stars: | 2023-06-17 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Careem CEO Mudassir Sheikha said he didn't want to hire people focused on high pay or work hours. Some workers on Blind called the CEO's LinkedIn post "tone deaf" and "cringe." Tech workers took to the employee-forum Blind to criticize a startup CEO after he wrote a list of characteristics that he didn't want in new hires, including staff who prioritized pay and wanted to "clock in and clock out" of work. The Roblox employee was one of many tech workers to take issue with the LinkedIn post. "A honest, helpful & concise description of the company culture from the CEO," Shankar said.

Persons: Mudassir Sheikha, Careem, We're, Binod Shankar, Shankar, I've Organizations: LinkedIn, Morning, Tech, Uber, Microsoft, Startup, United Arab Emirates, National Locations: Careem, Dubai

☆ UAE's e& takes $400 mln majority stake in ride-hailer Careem's Super App
▼ + stars: | 2023-04-10 | by ( Lisa Barrington | ) www.reuters.com time to read: +1 min

DUBAI, April 10 (Reuters) - Emirates Telecommunications Group Company (EAND.AD) has agreed to take a 50.3% stake in a super app managed by Careem, Uber Technologies' (UBER.N) Middle East subsidiary, in a transaction valued at $400 million, e& said in a filing on Monday. The Super App will be managed by Careem founders Mudassir Sheikha and Magnus Olsson, said the company, formerly known as Etisalat Group and now called e&. The ride-hailing business will be separated from the Careem Super App business and will be fully owned by Uber, but will still be available on the super app. Careem began seeking outside investors last year to help finance its Super App, which offers services outside its core ride-hailing business such as food delivery, bike rentals, digital payments and courier services. Uber and Careem's co-founders Sheikha, Olsson and Abdullah Elyas have the remaining stakes in the super app, a Careem spokesperson said.

☆ Uber-owned Careem launches spinout with $400 million investment from UAE tech holding company e&
▼ + stars: | 2023-04-10 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

DUBAI, United Arab Emirates — Uber-owned ride hailing service Careem announced on Monday a spinout with major backing from a new source, as well as from its parent company. Abu Dhabi-based tech holding company e&, formerly Etisalat, signed a binding agreement with Uber Technologies to acquire a 50.03% majority stake in the spinout — which will be known as Careem Technologies — with a $400 million investment. Careem Technologies will focus on the growth of the company's "super app," which offers dozens of services beyond ride hailing in one app. "e& is investing $400m to become a majority shareholder in Careem's Super App alongside Uber and all three of Careem's co-founders," a statement from e& said. Established in 2012 in Dubai by co-founder and CEO Mudassir Sheikha, the company grew from a Dubai-based ride sharing firm to a "Super App" platform, used across the Middle East from Morocco to Pakistan.

DUBAI, March 28 (Reuters) - Uber Technologies' (UBER.N) Middle East subsidiary Careem is in advanced talks with Emirates Telecommunications Group Company (EAND.AD) to invest in its expansion into services beyond ride-hailing, five sources with knowledge of the matter told Reuters. Careem began seeking outside investors last year to help finance its Super App, which offers services outside its core ride-hailing business such as food delivery, bike rentals, digital payments and courier services. While Uber owns Careem's app and its around 50 million registered users, the newly-created investment vehicle will have a service level agreement with the app and its solutions, the source said. Careem's co-founder and Chief Executive Mudassir Sheikha, a former McKinsey executive, has long been a proponent of the Super App strategy to expand beyond ride-hailing. Uber, which shut down its Uber Eats operations in the Middle East in 2020, is focused on ride-hailing in the UAE.

☆ Uber-backed ride hailing app Careem is halting its operations in Qatar
▼ + stars: | 2023-02-28 | by ( Emma Graham | ) www.cnbc.com time to read: +3 min

The Careem ride-hailing app on a phone outside the Mall of the Emirates in Dubai, United Arab Emirate. Uber-backed ride hailing service Careem announced on Tuesday an end to its operations in Qatar. While regulatory approvals in other countries were obtained, unfortunately, this did not happen in Qatar," Uber told CNBC. Careem told CNBC it "will no longer provide ride hailing services in the country as of 28 February 2023." Dubai-based Careem, which in other markets across the region offers its "Super App," initially ran a ride-only platform in Qatar, but launched food delivery in Qatar last February.

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