DIRS.INFO The most relevant business & tech news

☆ China's AI models lag their U.S. counterparts by 6 to 9 months, says former head of Google China
▼ + stars: | 2024-09-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Kai-Fu Lee, chairman and chief executive officer of Sinovation Ventures, speaks during the HICOOL Global Entrepreneur Summit on September 11, 2021 in Beijing, China. BEIJING — Chinese artificial intelligence models may be at least half a year behind those developed in the U.S., but Chinese AI apps will likely take off much faster, said Kai-Fu Lee, former head of Google China. The top Chinese companies' LLMs are about six to nine months behind their U.S. counterparts, while less advanced Chinese models may lag the U.S. by about 15 months, Lee said. Lee, author of "AI Superpowers: China, Silicon Valley, and the New World Order,“ is a widely followed commentator on AI, and is the founder of startup 01.AI as well as venture capital firm Sinovation Ventures. "Apps, I would predict, by early next year will proliferate in China much faster than in the U.S.," Lee said, noting that the cost of training a good AI model has fallen significantly.

Persons: Kai, Fu Lee, Lee Organizations: Sinovation Ventures, Summit, Google, Equity Forum China Locations: Beijing, China, BEIJING, U.S, Google China, Silicon Valley

☆ Chocolate, but without the guilt? Why lab-grown cocoa and fermented fava beans could be the future
▼ + stars: | 2024-09-10 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +9 min

One way to tackle these problems is to make chocolate without using cocoa beans — the fermented seed of the cacao tree. It also makes cocoa powder and cocoa butter substitutes. “Instead of cocoa beans, we use fava beans sourced from farms across the UK and Europe, and then we ferment them in a similar way that cocoa farmers ferment their cocoa beans,” said Ross Newton, CEO of Nukoko, a UK-based startup that aims to launch on its domestic market next year. A study published this year shows it’s possible to make chocolate using only the cocoa pod, by replacing traditional sugar with a cocoa gel. “You make chocolate using only components from the fruit and not conventional crystallized sugar from sugar beets.

Persons: we’ve, ”, Max Marquart, shea, We’re, ” Marquart, Sara, Ross Newton, Newton, Michal Beressi Golomb, we’re, “ We’ve, “ That’s, Beressi Golomb, “ We’re, Beressi, “, “ We’d, Kim Mishra, ” Mishra Organizations: CNN, Planet, Department of Health Sciences, Technology, Swiss Institute of Technology Locations: West Africa, Ghana, Ivory Coast, Africa, Brazil, Swiss, Germany, Czech Republic, Europe, Zurich

☆ People in China still aren't buying enough stuff — so exporters are slashing prices to push more overseas sales
▼ + stars: | 2024-09-10 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Read previewChina's exports are booming, but profits could be under pressure, recent data from the country showed. China's exports rose 8.7% in August from a year ago to nearly $309 billion — a two-year high, official data showed on Tuesday. Imports, meanwhile, edged up by just 0.5% in August from a year ago — a sign that domestic demand was still weak. While China's robust exports have been supporting the country's flagging economy amid weak demand, data suggest that exporters have been slashing prices to stay competitive — a trend some economists have flagged. Meanwhile, official data released on Monday showed China's Producer Price Index — which measures the price of goods at the factory gate — falling 1.8% from a year ago.

Persons: —, it's Organizations: Service, Reuters, Business, PPI, Bank of America, European Union Locations: China, Beijing

☆ Europe and U.S. support to Ukraine should be faster, Portugal's foreign minister says
▼ + stars: | 2024-09-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEurope and U.S. support to Ukraine should be faster, Portugal's foreign minister saysPortugal Foreign Minister Paulo Rangel, speaking during the Ambrosetti Forum, discusses the need to speed up support to Ukraine.

Persons: Paulo Rangel Organizations: Portugal Foreign Locations: U.S, Ukraine, Portugal

☆ None of the Big Three has won a grand slam this year. They leave a legacy which has transformed tennis on and off the court.
▼ + stars: | 2024-09-10 | by ( Issy Ronald | ) edition.cnn.com time to read: +10 min

But this year, men’s tennis has had a different complexion since none of Federer, Nadal or Djokovic has won a grand slam title for the first time since 2002. Whatever comes next is unlikely to mirror the previous era, leaving men’s tennis in an unfamiliar position, shorn of its three biggest icons who transcended the court. Carlos Alcaraz has already won four grand slam titles at the age of 21. “There has to be a real recalibration … because I already see people talking, like, ‘Can Alcaraz catch Djokovic’s grand slam record?’” Rothenberg tells CNN Sport. Medvedev and Dominic Thiem, who is retiring at the end of this year, are still the only men born in the 1990s to win a grand slam.

Persons: Roger Federer, Rafael Nadal, Novak Djokovic, Federer, Nadal, Djokovic, Andy Murray, –, Carlos Alcaraz, Alcaraz, Sinner, “, Mats Wilander, Pete Sampras, That’s, Ben Rothenberg, Matthew Stockman, Taylor Fritz, Frances Tiafoe, Ben Shelton, Holger Rune, Daniil Medvedev, ’ ” Rothenberg, Williams, ”, Wilander, Rafa Nadal, Medvedev, Dominic Thiem, Ryan Pierse, Rafa, ” Simon Cambers –, it’s, “ It’s, ” Jett Wright –, Topnotch Management –, David Foster Wallace, Anna Wintour, Angela Weiss, … Don’t, Björn Borg, Matteo Berrettini, Hugo Boss, Gucci, Simon Graf, Wright, Ernesto S, they’ll Organizations: CNN, Big, Australian, Wimbledon, Eurosport, CNN Sport, Federer, Serena, Nadal, “ Tennis, Topnotch Management, Getty, Cambers, MLB, MLS, NBA Locations: –, American

☆ Boom Supersonic CEO on commercial service, flying faster than the speed of sound and raising capital
▼ + stars: | 2024-09-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBoom Supersonic CEO on commercial service, flying faster than the speed of sound and raising capitalCNBC’s Phil LeBeau with Boom Supersonic CEO Blake Scholl, joins 'Closing Bell' to discuss commercial service, test flights and raising capital.

Persons: Phil LeBeau, Blake Scholl Organizations: Boom

☆ Nearly a million more children fell into poverty last year. Both presidential campaigns want to give parents money to fix that.
▼ + stars: | 2024-09-10 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +5 min

Read previewMore children fell into poverty last year — and it could signal a major issue for both candidates as the presidential election heats up. But child poverty rose faster than that, from 12.4% to 13.7%. "The effectiveness of such a policy is evident when one considers the effects of the Child Tax Credit." And with child poverty only worsening, what candidates can deliver for parents might be particularly salient. Is the rise in child poverty and lack of assistance impacting your family?

Persons: —, Steven Durlauf, Joe Biden's, Kamala Harris, Donald Trump's, Joseph Costello, Harris, Walz, JD Vance, Anna Kelly, Kelly, Trump, Adam Ruben, Josh Bivens, they'd Organizations: Service, Business, The University of Chicago, Stone Center for Research, Harris School of Public, Child Tax, Pew Research Center, Economic Security, Census, Economic Policy Institute, jkaplan Locations: U.S

☆ EV charging and range are improving. People still don't want to go electric.
▼ + stars: | 2024-09-10 | by ( Nora Naughton | ) www.businessinsider.com time to read: +6 min

Read previewWe're getting closer to a cure for range anxiety, so why don't more people want an EV? This dip in demand is reflected in a stagnation in EV sales growth over the past year as companies adjust to a new crop of more practical green-car shoppers. Battery-powered cars accounted for a record 7.6% of all car sales in 2023, according to Kelley Blue Book, up from 5.9% in 2022. Affordability is also a key issue for today's electric car shoppers, an issue the industry has tried to address with lower sticker prices. But EV shoppers have found a new cost to angst over.

Persons: —, EY, Marc Coltelli, Kelley, EVs, it's, Power, Raman Ram Organizations: Service, Business, Power, Utilities, Industry, EV, Pew Research, Department of Energy, Americas Aerospace, Defense Locations: Americas

☆ Sony unveils upgraded PlayStation 5 Pro to boost slowing console business
▼ + stars: | 2024-09-10 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Sony on Tuesday announced the PlayStation 5 Pro, an upgraded version of its gaming console that will launch on Nov. 7 for $700. The arrival of Sony's refreshed PS5 console comes amid a global decline in console sales. The PS5 Pro features "advanced" ray tracing, a technique in computer graphics that simulates how light bounces off reflective surfaces. Sony said the PS5 Pro features a 2-terabyte solid-state drive, larger than the custom-built 825 GB solid-state drive featured in the PS5. Sony said several games will have "PS5 Pro Enhanced" designation with features that work on the new console.

Persons: Alan Wake Organizations: Sony, Tuesday, PlayStation, Wireless, Turismo

Understanding business loansWhat is a business loan? Types of business loans availableYou need to determine what you will use the money for before applying for a business loan, as there are various loan types. "Business loan options are abundant, and it can be very easy to obtain business financing," says Grayson. After the applicationWhat to expect after applyingLenders generally look at your time in business, credit scores (both your business credit score and personal credit score), cash flow, collateral, and the industry the business is in. Business loan FAQsWhat credit score is needed to get a business loan?

Persons: you've, Gina Taylor Cotter, You'll, Noah Grayson, Grayson, you'll, Matt Brewster, Brewster, Ryan Wangman, Read Organizations: GM, Global, Services, American Express, Small Business Administration, South End, Estate Bees, Nonprofit, Chevron, Finance, Northwestern University, Boston Globe

☆ Here are Tuesday's biggest analyst calls: Apple, Costco, Nvidia, Palantir, Broadcom, Tesla, Amazon, Meta & more
▼ + stars: | 2024-09-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

"We launch coverage of GE Aerospace with an Outperform rating, target price $201." (ELF) with a Buy rating and a 12-month price target of $175 per share." "We initiate with a Buy rating on Harmony , a commercial stage biotech focused on CNS [central nervous system] disorders." "We are initiating coverage of ProKidney Corp. (PROK) with a BUY rating and $6 price target." We are initiating coverage with a BUY rating and $600 price target."

Persons: Morgan Stanley, Apple, Tesla, it's, Bernstein, Riley, Wolfe, Stryker, BUD, JMP, Redburn, BTIG, Palantir, Goldman Sachs, Nutrien, Goldman, Cantor Fitzgerald, Cantor, Melius, Johnson, Guggenheim, it's bullish, D.A, Davidson, Meta Organizations: Apple, Apple Intelligence, Intelligence, Deutsche Bank, Deutsche, GE Aerospace, GE, Inc, Anheuser, Busch InBev, Oracle, Costco, Equity, Haemonetics, Plasma Solutions, Blood Center, Hospital Care Solutions, " Bank of America, Bank of America, UBS, Amazon, Harmony Biosciences, NTR, Nvidia, Broadcom, Johnson, Johnson Controls, ProKidney Corp

☆ I've been a digital nomad for 11 years. The hardest part of this lifestyle is dating.
▼ + stars: | 2024-09-10 | by ( Cait Charles | ) www.businessinsider.com time to read: +7 min

In 2013, I took my first step into the digital nomad lifestyle by becoming an online English teacher. The author, with a camel on Mount Sinai, has made friends while dating as a digital nomad. Related storiesWe met on Nomad Soulmates, a dating app for digital nomads under the most surreal of circumstances. Go with your gutI was just getting out of another failed relationship when I went on my first Tinder date. When you're dating on the road, the temptation to do so is strong, and connecting at a speed that would seem crazy in the "real world" is commonplace.

Persons: —, I've, Buddha, Cait Charles, Nomad Soulmates, Moishe, bode Organizations: Service, Business, Central Locations: Thailand, Nepal, Mount Sinai, South Korea, Pennsylvania, Florida, Mexico, Central America

☆ SpaceX to launch Polaris Dawn, one of its riskiest missions yet
▼ + stars: | 2024-09-10 | by ( Jackie Wattles | ) edition.cnn.com time to read: +5 min

The mission, dubbed Polaris Dawn, was set to take flight as soon as 3:38 a.m. This launch attempt comes after several issues hampered the Polaris Dawn crew’s efforts to get off the ground in late August. Because carrying out a spacewalk will create a drain on oxygen supplies, the Polaris Dawn mission will have only enough life support for five or six days in space. If successful, Polaris Dawn would beat that record by about 20 miles (32 kilometers). Polaris Dawn may also mark the farthest any woman has ever gone into space.

Persons: Van Allen, Elon Musk, Jared Isaacman, Isaacman, Scott “ Kidd ” Poteet, Anna Menon, Sarah Gillis —, cumulatively Organizations: CNN, Polaris, SpaceX, Twitter, Kennedy Space Center, Falcon, US Air Force Locations: Florida

Apple is hosting an event at its headquarters in Cupertino, California, where it has unveiled new versions of the iPhone, AirPods and Apple Watch. AppleApple just unveiled the iPhone 16 Pro and the iPhone 16 Pro Max, which join the iPhone 16 and iPhone 16 Plus announced earlier. Apple’s iPhone 16 Pro has a 6.3-inch display, and the Apple 16 Pro Max has a 6.9-inch display, larger than those of previous models, which measured in at 6.1 inches and 6.7 inches, respectively. The iPhone 16. The iPhone 16 Pro starts at $999, and the Pro Max starts at $1,199, Apple said.

Persons: Max, ” Apple, —, Apple, Pro Max Organizations: Apple, Apple Watch, Apple Apple, Apple Intelligence, Pro Locations: Cupertino , California

☆ ‘Perfect waves and no crowds:’ Angola could be the surfing world’s best-kept secret
▼ + stars: | 2024-09-09 | by ( Claudia Elorza | ) edition.cnn.com time to read: +7 min

Their business is dedicated to promoting Angola as a surf destination while supporting local communities and sustainable development in the surf tourism industry. But it’s the prevailing winds, which bring long waves and easy surf, that make it a surfing paradise. It’s known locally as “Praia do Surfistas,” or Surfers’ Beach. The Angola Waves team provides them with cooked meals to keep energy levels up for huge ocean sessions. “I will miss surfing these perfect waves with no crowds!”

Persons: Bizuka Barros, Golan, Barros, Henrique Almeida, ”, Paulo Agusto, “, Gillas Cros, Paulo Rodrigues, It’s, Tchyina Matos, Matos, Cabo Ledo, ” Agusto, Ledo, Sergio Torres, Cecilia Organizations: CNN, Reuters, Praia, Radical Association, Angola, NASA Locations: Hawaii, Portugal, California, Australia, Angola, Portuguese, Israel, Luanda, Cabo Ledo, wilder, Catanas, Tomuba

☆ China aims for historic Mars mission ‘around 2028’ as it vies for space power
▼ + stars: | 2024-09-09 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +5 min

The projected mission launch is more ambitious than a 2030 target announced by space officials earlier this year, though the timeline has fluctuated in recent years. It also comes as an effort by NASA and the European Space Agency to retrieve Mars samples remains under assessment amid concerns over budget, complexity and risk. Becoming the first country to return samples from Mars would be a significant accomplishment for China’s ambitious space program and leader Xi Jinping’s stated “eternal dream” to make the country a space power. A key priority of China’s Tianwen-3 mission would be to search for traces of life on Mars. “The return mission requires launch from the surface of Mars.

Persons: Liu Jizhong, Xi Jinping’s, Liu, CGTN, It’s, China's Tianwen, ”, Planitia, Mars, Bill Nelson Organizations: Hong Kong CNN, NASA, European Space Agency, AP Missions, US Locations: Hong Kong, China’s Anhui, China’s, China, Soviet Union, United States

☆ There's tons of hiring activity in media ad sales right now, but there's a catch
▼ + stars: | 2024-09-09 | by ( Lucia Moses | Lara O'Reilly | ) www.businessinsider.com time to read: +8 min

While it might look like there's a flurry of advertising hiring, industry insiders say the reality is more sobering. AdvertisementLegacy media companies have sharply cut staff in recent years, including sales, and those jobs aren't coming back. Disney has said it plans to automate half its ad sales. "The number of good job opportunities are few and far between because the large media companies are not hiring as quickly. "Ad sales is no longer ad sales," said Gary Stolkin, global CEO of The Talent Business, a global executive search firm specializing in the creative industries.

Persons: —, they've, Jean, Paul Colaco, aren't, Dave Morgan, Lisa Valentino, David Lawenda, David Zaslav, David Ellison's, Christopher Vollmer, Simon Francis, Peter Naylor, Brian Lesser, Lesser, WPP's, Roku, Harry Kargman, Kargman, Krishan Bhatia, Gary Stolkin, Stolkin, who's Organizations: Service, Netflix, Business, Disney, Paramount, Warner Bros, NBA, Companies, MediaLink, TV, Media, Flock Associates, Progressive, Mobile, The Talent Locations: Teads, NBCUniversal

☆ Here's everything Apple just announced: iPhone 16, iPhone 16 Pro, Apple Watch Series 10, AirPods 4 and more
▼ + stars: | 2024-09-09 | by ( Hayden Field Ashley Capoot Kif Leswing Todd Haselton | Hayden Field | Ashley Capoot | ) www.cnbc.com time to read: +2 min

Apple just unveiled the iPhone 16 Pro and the iPhone 16 Pro Max, which join the iPhone 16 and iPhone 16 Plus the company announced earlier. Apple's iPhone 16 Pro has a 6.3-inch display, and the Apple 16 Pro Max has a 6.9-inch display, larger than those of previous models, which measured in at 6.1 inches and 6.7 inches, respectively. The new models also have the "thinnest borders on any Apple product," Apple said, calling them "by far our best iPhone displays ever." The company also said the new iPhone 16 Pro Max has "the best iPhone battery life ever" but did not offer additional details. The iPhone 16 Pro starts at $999, and the Pro Max starts at $1,199, Apple said.

Persons: Max, Apple, Pro Max, — Hayden Organizations: Apple, Apple Intelligence, Pro, preorder

☆ Why Nvidia and Its Stock Have Developed a Cult-Like Following
▼ + stars: | 2024-09-09 | by ( Emily Stewart | ) www.businessinsider.com time to read: +13 min

I probably do not have to tell you that Nvidia has really blown up over the past few years. "If people were going to be going crazy about a stock, wouldn't it be this one?" Jack, a moderator of a subreddit dedicated to Nvidia's stock, finds some of the memes around Nvidia irksome. He said ChatGPT's capabilities reinforced his belief in his thesis around Nvidia and AI. I'm not a Nvidia true believer, but I'm apparently Nvidia curious.

Persons: Jensen Huang, Angelo Zino, Jim Cramer, Josh Brown, fanboys, Kamala Harris, I'm, Dan Ives, Huang, Daniel Williams, Williams, David, Goliath, Christopher Schwarz, that's, Axios, Felix Salmon, he's, Jack can't, It's, Berkshire Hathaway, Warren Buffett, Buffett, There's, Schwarz, Brown, Ted Mortonson, Baird, They've, cooly, they're, Mortonson, Ives, Elvis, Zack Morris, Taylor Swift, Chappell Roan, Emily Stewart Organizations: Nvidia, Wall Street, Woodstock, CFRA Research, CNBC, Ritholtz Wealth Management, Elon, NFL, Democratic, People, Wedbush Securities, Lebron, Davids, University of California, Paul Merage School of Business, Nvidia irksome, GameStop, GameStop —, Cisco, Department, Justice, ChatGPT, Business Locations: New York City, New York, Jack, Maine, Omaha , Nebraska, —

☆ Study shows how the pandemic may have affected teens’ brains
▼ + stars: | 2024-09-09 | by ( Kristen Rogers | ) edition.cnn.com time to read: +7 min

“Teens need our support now more than ever.”Significant socioemotional development occurs during adolescence, along with substantial changes to brain structure and function. The researchers originally intended to track ordinary adolescent brain development over time, starting with MRIs the authors conducted on participants’ brains in 2018. The study revealed accelerated cortical thinning in the post-pandemic brains of teens — occurring in 30 brain regions across both hemispheres and all lobes for girls, and in only two regions for boys. The prevalence of the thinning amounted to 43% and 6% of the studied brain regions for girls and boys, respectively. The regions affected in boys’ brains are involved in processing objects in the visual field as well as faces.

Persons: ”, Patricia K, Kuhl, Max Wiznitzer, Wiznitzer wasn’t, Wiznitzer, It’s, Ian Gotlib, wasn’t, ” Kuhl, Gotlib Organizations: CNN, National Academy of Sciences, Institute for Learning, Sciences, University of Washington, Case Western Reserve University School of Medicine, Stanford, Stanford University Locations: Seattle, Washington

Both the iPhone 16 and the iPhone 16 Pro will be available for pre-order on Friday and in stores on September 20, Apple announced. They’re also available in two sizes: 6.1 inches for the iPhone 16 and 6.7 inches for iPhone 16 Plus. IPhone 16 ProThe new iPhone 16 Pro. From AppleThe iPhone 16 Pro, Apple’s higher-end iPhone, features even more AI features than the iPhone 16. Price: The new Apple iPhone 16 Pro will cost $999 and the iPhone 16 Pro Max will be $1,199, the company announced Monday.

Persons: Dan Ives, Wedbush, haven’t, Apple, ” Craig Federighi, Siri, Erica, ultramarine, Max, AirPods Organizations: CNN, Apple, Apple Watch, Apple Apple, Apple Intelligence, Pro, US Food and Drug Administration, Apple Watch Apple

☆ A part-time real estate investor shares his 'failed' 1031 exchange — and what he wishes he knew before trying the tax-saving strategy
▼ + stars: | 2024-09-08 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

You could theoretically defer capital gains taxes indefinitely if you continued exchanging for what the IRS calls "like-kind properties." That's what part-time real estate investor Steve Lewis, who bought his first property in 2000 and expanded to three rentals before selling in 2024, found when he attempted a 1031 exchange. Then, you must close on the replacement property within 180 days of your initial property sale. While his failed 1031 experience may be "rare," he noted, "there are so many things that could delay a closing." Lewis says he'd consider a 1031 exchange in the future if the 180-day rule were extended to a year.

Persons: —, Steve Lewis, Lewis, that's, he'd, He'd Organizations: Service, Business

☆ US employers have good reasons not to hire more workers now
▼ + stars: | 2024-09-08 | by ( Bryan Mena | Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

That’s because employers might be putting some of their hiring plans on hold — and for good reason. Businesses consider many factors when deciding to hire, but across a wide spectrum of industries, the economic outlook carries always great deal of weight. Both those factors are prompting employers to think twice about hiring more workers now, according to economists and recent comments from businesses around the country. But she’s proposing raising the corporate tax rate to 28%. So when interest rates are as elevated as they are right now, monthly debt payments could be too costly for many firms.

Persons: there’s, ” Kathy Bostjancic, Reserve Banks, Kamala Harris, Donald Trump, Trump, Harris, ”, Sean Snaith, Julia Pollak, ZipRecruiter’s, ” Pollak, “ It’s, Pollak Organizations: CNN, Labor Department, Federal Reserve, Nationwide, “, Reserve, Trump, America, Economic, of New, Institute for Economic, University of Central, Fed, Treasury Locations: China, of New York, University of Central Florida

☆ Amid AI boom, tech can't afford to neglect spending in these IT areas
▼ + stars: | 2024-09-08 | by ( Bob Violino | ) www.cnbc.com time to read: +6 min

Data analytics and decision-makingIn the digital economy, data is gold. Those organizations that leverage data and data analytics well can improve the customer experience and move out in front of competitors. With advancements in data analytics, companies can take advantage of real-time data processing, predictive analytics, and AI-powered analytics to make informed decisions quickly, Gilchrist said. AI, as neededYes, companies should continue to invest in AI solutions, but in many cases with a more discerning approach. "AI investments should focus on areas where automation, predictive analytics, or AI-driven insights can solve specific business problems or create new revenue streams."

Persons: Christopher Gilchrist, Forrester, Gilchrist, Janelle Hill, Hill Organizations: Gartner, IT, Investments

☆ 3 ways Wall Street's largest banks are leveraging AI to increase profitability
▼ + stars: | 2024-09-07 | by ( Morgan Chittum | ) www.cnbc.com time to read: +8 min

Over the past year, Wall Street's largest names — including Goldman Sachs , Bank of America , Morgan Stanley , Wells Fargo to JPMorgan Chase — ramped up their generative artificial intelligence efforts with the aim of boosting profits. MS YTD mountain Morgan Stanley YTD AI use cases for key businesses Morgan Stanley was among the first on Wall Street to publicly embrace the technology, unveiling two AI assistants for financial advisors powered by OpenAI. Launched in September 2023, the AI @ Morgan Stanley Assistant gives advisors and their staff quick answers to questions regarding the market, investment recommendations, and various internal processes. If it does, that would be welcome news for shareholders after Morgan Stanley's wealth segment missed analysts' revenue expectations in the second quarter . However, As long as these costs don't outweigh return on investment (ROI), we're happy with Wells Fargo and Morgan Stanley's moves to innovate.

Persons: Goldman Sachs, Morgan Stanley, Wells, JPMorgan Chase — ramped, Jamie Dimon, Alexandra Mousavizadeh, OpenAI's ChatGPT, Jeff McMillan, Morgan, McMillan, It's, Morgan Stanley's, Evident's Mousavizadeh, Banks, Mousavizadeh, Tracy Kerrins, Morgan Stanley's McMillan, He's, Morgan Stanley's OpenAI, Teresa Heitsenrether, Jim Cramer's, Jim Cramer, Jim Organizations: Bank of America, JPMorgan, Citi, Microsoft, Nvidia, OpenAI, CNBC, Google, Deutsche Bank, BNP, Mistral, TD Bank Group, Big, Wall, New York Stock Exchange, Bloomberg, Getty Locations: Wells Fargo, Silicon, management's, Wells, New York

Search resuls for: "Faster"

25 mentions found