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☆ Masayoshi Son is the $100 billion gambler who went from dirt track to tech titan — and he isn't done betting yet
▼ + stars: | 2024-09-28 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +14 min

SoftBank founder Masayoshi Son has spent his life putting bold bets on the future of technology. SoftBank, the media-technology conglomerate Son founded two decades prior, was riding high on the glory it attained in the dot-com boom. He was told he was special," Barber told BI. "He wants to be seen as the great modernizer transforming this petrostate into a truly modern economy where technology is at the forefront," Barber told BI. But as previous cycles in Son's life dictate, the flurry of enthusiasm is typically followed by failure.

Persons: Masayoshi Son, Lionel Barber, —, Son, Bill Gates, Masa —, Uber, Barber, Vladimir Putin, Barack Obama, — he's, Jack Ma's Alibaba, Wang, he's, Napoleon Bonaparte, Genghis Khan, Qin Shi Huang, Emperor of, Microsoft's Gates, Jordan Strauss, Mitsunori, SoftBank, Rupert Murdoch, Larry Ellison, Jack Welch, Steve Jobs, Masayoshi, Justin Sullivan, Rajeev Misra, Nikesh Arora, Phil McCarten, Abu Dhabi's Mubadala, Mohammed bin Salman, Saudi, Michael Moritz, Kim Jong, Adam Neumann, Donald Trump, Wirecard, Jesus, NurPhoto, He's, Allen Lane Organizations: Service, Financial Times, Kremlin, Yahoo, Popular Electronics, Vision, Deutsche Bank, Google, Reuters, Saudi Arabia's Public Investment Fund, Vision Fund, Valley's, Sequoia Capital, Greensill, Nvidia, Signal Publishers Locations: Tokyo's Roppongi, Japan, Masayoshi, Washington, Wayne, Emperor of China, Kyushu, United States, Riyadh, Berkeley, Las Vegas

☆ Sam Altman tells OpenAI staff there's no plan for him to receive a 'giant equity stake' in company
▼ + stars: | 2024-09-27 | by ( Hayden Field | ) www.nbcnews.com time to read: +4 min

At an all-hands meeting Thursday, OpenAI CEO Sam Altman denied that there are plans for him to receive a “giant equity stake” in the company, calling that information “just not true,” according to a person who was in attendance. Regarding his potentially attaining an equity stake, Altman said, “There are no current plans here,” the person said. OpenAI Chairman Bret Taylor told CNBC in a statement that while the board has talked about the matter, no specific figures are on the table. OpenAI Chief Technology Officer Mira Murati, who briefly served as interim CEO, said she would be leaving after 6½ years. Days later, Altman was back at the company and Murati moved from interim CEO back to the role of CTO.

Persons: Sam Altman, Altman, Sarah Friar, Bret Taylor, Sam, ” Taylor, Mira Murati, Bob McGrew, Barret Zoph, “, ” Altman, ” Murati, OpenAI, Ilya Sutskever, Jan Leike, John Schulman, Anthropic, it’s, Murati Organizations: CNBC, Italian Tech, Microsoft, Tiger Global Locations: Turin, Italy

☆ UK clears Amazon's partnership with AI startup Anthropic
▼ + stars: | 2024-09-27 | by ( Deirdre Bosa | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUK clears Amazon's partnership with AI startup AnthropicCNBC's Deirdre Bosa joins 'Money Movers' to report on the U.K. allowing Amazon and Anthropic to move forward with their partnership.

Persons: Deirdre Bosa

☆ An OpenAI shake-up wouldn't just make Sam Altman richer — he'd have more control, too
▼ + stars: | 2024-09-27 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +5 min

Since 2019, the company has had what Sam Altman called an "unusual" hybrid structure. AdvertisementAfter operating under what Sam Altman called an "unusual" structure for more than four years, OpenAI is reportedly preparing to become a for-profit business. OpenAI could be structured as a public-benefit corporation, Bloomberg reported, an entity that balances profit with mission. An OpenAI spokesperson told the outlet the nonprofit entity "will continue to exist" and was core to its mission. OpenAI was established as a nonprofit in 2015, but in 2019, it created a "capped profit" subsidiary, OpenAI LP.

Persons: OpenAI, Sam Altman, Altman, —, Mira Murati, Anthropic, it's, Anat Alon, Beck, Alon, Eric Chaffee, Chaffee, OpenAI didn't Organizations: Service, Reuters, Bloomberg, CNBC, Elon, Microsoft, Case Western Reserve University's School of Law, Case Western Reserve University Locations: OpenAI, Delaware

☆ Anthropic's comms chief mocks OpenAI after cofounder's bizarre tweet about jacuzzis and the Middle Ages
▼ + stars: | 2024-09-27 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

An Anthropic executive jumped at the opportunity to mock OpenAI in response. AdvertisementTech rivalries are always a hot topic on X, and on Friday, an Anthropic executive couldn't help but take a jab at OpenAI. OpenAI cofounder Wojciech Zaremba took to X on Friday to wax poetic about the latest high-profile departures. He likened the exits of Murati, Zoph, and McGrew to children dying in the Middle Ages. Just hours later she wrote on X, "Happy to report that Anthropic's co-founders all still merrily work at the company.

Persons: OpenAI, Mira Murati, Bob McGrew, —, Sam Altman, Altman, Barret Zoph, Wojciech Zaremba, Zaremba, McGrew, Sasha de Marigny, Anthropic, Anthropic's, Anthropic’s, — Sasha de Marigny, John Schulman Organizations: Service, OpenAI Locations: Murati

☆ UK clears Amazon, Anthropic deal
▼ + stars: | 2024-09-27 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUK clears Amazon, Anthropic dealCNBC's Deidre Bosa joins 'The Exchange' to discuss the latest details on Amazon and Anthropic.

Persons: Bosa

☆ OpenAI considering restructuring to for-profit, CTO Mira Murati and two top research execs depart
▼ + stars: | 2024-09-26 | by ( Hayden Field | Hayden Field Is A Cnbc Reporter | ) www.nbcnews.com time to read: +4 min

The structure would be more straightforward for investors and would make it easier for OpenAI employees to realize liquidity, the source added. News of the discussions comes after OpenAI Chief Technology Officer Mira Murati said Wednesday that she is leaving the company after six and a half years. They’re the latest high-level executive to depart OpenAI, which has exploded in popularity and value since releasing the ChatGPT chatbot in late 2022. Murati became a well-known name when OpenAI’s board abruptly ousted Altman last November and Murati was named interim CEO. Days later, Altman was back at the company and Murati moved back to her former role as CTO.

Persons: Mira Murati, Sam Altman, Bob McGrew, Barret Zoph, Murati, ”, “ There’s, ” Altman, OpenAI, Ilya Sutskever, Jan Leike, John Schulman, Anthropic, it’s, Altman, OpenAI’s, Sutskever, Helen Toner, Tasha McCauley, ” Murati, “, ” McGrew, he’s, Mark Chen, Zoph Organizations: Microsoft, Tiger Global, Nvidia, Apple, Street, Tech Locations: OpenAI

☆ The OpenAI talent exodus has become the joke of the moment in tech world
▼ + stars: | 2024-09-26 | by ( Sarah Gray | ) www.businessinsider.com time to read: +5 min

Sutskever announced his departure from OpenAI in May and launched his own AI startup focused on safety. Of the 11 cofounders of OpenAI from 2015, only Altman, Brockman (who, again, is on leave), and Wojciech Zaremba remain. Daniel Kokotajlo and William Saunders, who previously worked on OpenAI's governance and safety teams, respectively, left OpenAI in the first half of 2023. AdvertisementAdditionally, OpenAI cofounder John Schulman left in August to join OpenAI rival Anthropic — where Leike also landed. On Wednesday, Meta announced that Meta AI is on track to be "the most used AI assistant in the world."

Persons: —, Mira Murati, Sam Altman, There's, OpenAI, Airbnb, KugtVv9o6N, Matt Turck, Altman, Murati, Ilya Sutskever, Greg Brockman, Brockman, Sutskever, Sam, Madeline, PnRxZSbGgx — sophie, Bob McGrew, Barret Zoph, Sarah Friar, Jakub Pachocki, Brad Lightcap, Kevin Weil, Wojciech Zaremba, Elon Musk, Musk, Jan Leike, Daniel Kokotajlo, William Saunders, John Schulman, Anthropic, Leike, Andrej Karpathy, Kokotajlo, Fortune Organizations: Service, Bloomberg, Business, Wired, OpenAI, —, Microsoft, Meta, Apple, Nvidia, Reuters Locations: OpenAI, Slack, —

☆ From passion to profit: OpenAI's latest shakeup shows the AI race is about who has the deepest pockets
▼ + stars: | 2024-09-26 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Altman could reportedly receive a 7% equity stake, which would be worth about $10.5 billion at OpenAI's new valuation. In March, The New York Times reported Murati raised concerns about Altman's leadership style to the board before the ouster. Barret Zoph, the company's vice president of research, and Bob McGrew, OpenAI's chief research officer, are also departing the startup, Altman announced on X . "I obviously won't pretend it's natural for this one to be so abrupt, but we are not a normal company," Altman wrote.

Persons: —, Sam Altman, Altman, Mira Murati, Slack, Murati, Barret Zoph, Bob McGrew, Joel Saget, Jenny Chang, Rodriguez, Meta —, it's, Elon Musk's, OpenAI Organizations: Service, Business, Employees, The New York Times, Lakshmi, OpenAI's, Meta, Reuters, Anthropic Locations: OpenAI, Lakshmi Varanasi

☆ Sam Altman tells OpenAI staff there's no plan for him to receive 'giant equity stake' in company
▼ + stars: | 2024-09-26 | by ( Hayden Field | ) www.cnbc.com time to read: +4 min

In this photo illustration, the OpenAI logo is displayed on a mobile phone screen with a photo of Sam Altman, CEO of OpenAI. At an all-hands meeting on Thursday, OpenAI CEO Sam Altman denied that there are plans for him to receive a "giant equity stake" in the company, calling that information "just not true," according to a person who was in attendance. Regarding his potentially attaining an equity stake, Altman said, "There are no current plans here," the person said. Altman said the departures were not related to the company's potential restructuring, contrary to some media reports. Days later, Altman was back at the company and Murati moved from interim CEO back to the role of CTO.

Persons: Sam Altman, Altman, Sarah Friar, Bret Taylor, Sam, Taylor, Mira Murati, Bob McGrew, Barret Zoph, Murati, OpenAI, Ilya Sutskever, Jan Leike, John Schulman, Anthropic, it's Organizations: OpenAI, CNBC, Italian Tech, Microsoft, Tiger Global Locations: Turin, Italy

OpenAI is said to be closing a funding round that could value the company at as much as $150 billion. "Kushner is betting the ranch on OpenAI and Sam Altman just as Masa Son pledged 40% of his Vision Fund on Yahoo and Jerry Yang. "Second, Sam Altman has proven himself to be one of the greatest tech founders of this generation. Sam Altman has said that AI superintelligence could be a reality within "a few thousand days ." "Everybody wants Sam Altman at the helm, and they're willing to do anything to keep him as the CEO.

Persons: OpenAI, —, Sam Altman, ChatGPT, Mira Murati, Bob McGrew, Barret Zoph, Murati's, John Schulman's, Joe Aaron, Aaron, Capital's Josh Kushner, Kushner, Masa Son, Jerry Yang, Jerry Yang wasn't, Jai Das, Goldman Sachs, who's, Altman, they've, Ben Narasin, They're Organizations: Service, Research, Post, Reuters, Nvidia, Apple, Fund, Yahoo, Sapphire Ventures, Venture Locations: Silicon, UAE, OpenAI

☆ Sam Altman is way more interested in AI's next chapter than upheaval at OpenAI
▼ + stars: | 2024-09-26 | by ( Tom Carter | ) www.businessinsider.com time to read: +4 min

Read previewSam Altman might be facing upheaval at OpenAI, but that isn't stopping him from discussing his grand plans for the company's next stage. 'Better everything'"The two trends I'm most excited about for the next couple of decades are abundant intelligence and abundant energy," Altman told the audience. The growth, the increase in quality of life we can have in the world — better sustainability, better education, better healthcare, better everything," he added. AdvertisementIt's not the first time Altman has talked up the glorious future that AI — and by extension, OpenAI — may usher in. AdvertisementAltman has previously called for massive investment in AI infrastructure, warning that making AI technology widespread would require "lots of energy and chips."

Persons: —, Sam Altman, Altman, Mira Murati, Murati, John Elkann, cofounders Ilya Sutskever, John Schulman, Elon Musk, OpenAI, Altman's Organizations: Service, Italian Tech, Business, Google, Elon, Bloomberg, Energy Locations: OpenAI, Italy

☆ Nvidia's days of absolute dominance in AI could be numbered because of this key performance benchmark
▼ + stars: | 2024-09-26 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +7 min

Liang told Business Insider he expects 90% of AI computing workloads will be in inference in the not-too-distant future. AdvertisementThat's why several startups are charging aggressively into the inference market — emphasizing where they might outperform the goliath in the space. Speed is an important factor when multiple AI models talk to each other and waiting for an answer can dampen the magic of generative AI. The number of tokens per second that can be consumed (when a prompt goes in) and generated (when a response comes out) is a common metric for AI computing speed. AdvertisementCerebras's AI chip is roughly size of a dinner plate.

Persons: —, Rodrigo Liang, Colleen Kress, workloads, Liang, Andrew Feldman, Bernstein, Colette Kress, Kress, Nvidia's, SambaNova, Anthropic's Claude, Nvidia isn't, Jensen, Dylan Patel, Patel Organizations: Service, Business, SambaNova Systems, Nvidia, ARM, AMD, o1, BI Locations: Artificialanalysis.ai, TCO

☆ OpenAI CTO Mira Murati announces she's leaving the company
▼ + stars: | 2024-09-25 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

Mira Murati, chief technology officer of OpenAI, during an interview on "The Circuit with Emily Chang" in San Francisco on April 4, 2023. OpenAI Chief Technology Officer Mira Murati said Wednesday that she is leaving the company after six and a half years. Murati also wrote that she is "stepping away because I want to create the time and space to do my own exploration. Murati became a well-known name when OpenAI's board abruptly ousted CEO Sam Altman last November and Murati was named interim CEO. Days later, Altman was back at the company and Murati moved back to her former role as CTO.

Persons: Mira Murati, Emily Chang, There's, Ilya Sutskever, Jan Leike, John Schulman, Anthropic, Murati, OpenAI, Sam Altman, OpenAI's, Altman, Sutskever, Helen Toner, Tasha McCauley Organizations: OpenAI, Reuters, Microsoft, Tiger Global, Nvidia, Apple, Tech, Street Locations: San Francisco, OpenAI

☆ Sam Altman believes wars will be fought over AI unless there's massive spending on infrastructure. But that comes with a cost.
▼ + stars: | 2024-09-25 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +8 min

Read previewIn a Monday blog post, OpenAI CEO Sam Altman argued that massive investment in AI infrastructure is key to market dominance — and avoiding global conflict. "If we don't build enough infrastructure, AI will be a very limited resource that wars get fought over, and that becomes mostly a tool for rich people." Representatives for OpenAI did not respond to a request for comment from Business Insider. He noted that data centers consume tons of water for their cooling systems — some of which evaporates, so it cannot be reused. "Any human endeavor that involves an optimization challenge can be made more efficient through artificial intelligence," Coglianese said.

Persons: —, Sam Altman, Altman, OpenAI, Alex de Vries, de Vries, Goldman Sachs, Shaolei Ren, he's, Ren, Cary Coglianese, Coglianese, we'll, I'm Organizations: Service, Business, Microsoft, BlackRock, White, Meta, Big Tech, University of California, University of Pennsylvania Locations: United States, United Nations, Riverside

☆ Mira Murati, OpenAI’s technology chief, becomes the latest exec to leave the company
▼ + stars: | 2024-09-25 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN —OpenAI Chief Technology Officer Mira Murati — who has been instrumental in the development of ChatGPT and the artificial intelligence image generator Dall-E — said Wednesday she is leaving the company. “My six-and-a-half years with the OpenAI team have been an extraordinary privilege,” Murati said in a note to the OpenAI team, which she posted to X. Fellow OpenAI co-founder John Schulman exited in August to join rival Anthropic. Murati joined OpenAI’s leadership team in 2018 after working at augmented reality company Ultraleap (then called Leap Motion) and Tesla. During the debacle, Murati joined more than 500 fellow OpenAI employees in threatening to quit if Altman was not brought back to the company.

Persons: Mira Murati —, —, “, ” Murati, “ There’s, shakeup, OpenAI, Ilya Sutskever, John Schulman, Greg Brockman, Murati, Sam Altman, Altman, Mira, ”, ” Altman Organizations: New, New York CNN, OpenAI, Bloomberg, OpenAI’s, Tesla, o1 Locations: New York, Silicon Valley

☆ Amazon's Bedrock success prompts a surprising question: Do you need a top model to win in AI?
▼ + stars: | 2024-09-24 | by ( Eugene Kim | ) www.businessinsider.com time to read: +6 min

Read previewSo far, the generative AI race has been about who can build the most powerful models. Almost two years later, there are so many powerful AI models out there, it's no longer that special. Advertisement'Important but not critical'AWS CEO Matt Garman appears to be fine not having a fancy, home-grown AI model. "It'll be important but not critical," Garman said when asked about the importance of offering a top-performing first-party AI model. AGI teamThis doesn't mean Amazon has given up on building its own powerful AI model.

Persons: —, Claude, Meta's, Matt Murphy, Anthropic, Murphy, ChatGPT, Patrick Neighorn, Amazon's, Andy Jassy, Matt Garman, Garman, Matt McIlwain, Brent Thill, Jefferies, Thill Organizations: Service, Google, Business, Microsoft, OpenAI, Gemini, Menlo Ventures, AWS, Intuit, Toyota, New York Stock Exchange, BI, Asia, Madrona Venture Group, Amazon Locations: Europe, Middle East, Africa, Asia Pacific, Japan, North America

☆ AI startup Anthropic revenue expected to surge
▼ + stars: | 2024-09-24 | by ( Deirdre Bosa | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI startup Anthropic revenue expected to surgeCNBC’s Deirdre Bosa joins ‘The Exchange’ to report on Anthropic’s big revenue projections for 2024, how the company is competing against established AI players, and more.

Persons: Deirdre Bosa

☆ AI startup Anthropic expects revenue surge as it ramps up competition with OpenAI
▼ + stars: | 2024-09-24 | by ( Deirdre Bosa | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI startup Anthropic expects revenue surge as it ramps up competition with OpenAICNBC’s Deirdre Bosa joins ‘Money Movers’ to report on Anthropic's big revenue expectations, how the company is positioning itself to compete in AI, and more.

Persons: OpenAI CNBC’s Deirdre Bosa, ’ Organizations: ‘

Defense lawyers also had requested a no-prison sentence for Ellison, who had run Alameda Research , a hedge fund connected to FTX. Kaplan allowed Ellison to remain free on bail until she surrenders to prison either on or after Nov. 7. He was sentenced to 25 years in prison in March and also was ordered to pay $11 billion in forfeiture by Kaplan. On Tuesday, before sentencing Ellison, Kaplan contrasted her conduct after she was charged with that of Bankman-Fried. Both Bankman-Fried and Ellison had faced the same statutory maximum sentence of about 110 years in prison for their crimes.

Persons: Ellison, Lewis Kaplan, Caroline Ellison, Sam Bankman, Kaplan, I've, Miss Ellison, FTX spiraled, Ellison's Organizations: Alameda Research, federal, Department Locations: New York, U.S, Manhattan, FTX

Sovereign wealth funds out of the Middle East are emerging as key backers of Silicon Valley's artificial intelligence darlings. In the past year, funding for AI companies by Middle-Eastern sovereigns has increased fivefold, according to data from Pitchbook. Few venture funds have deep enough pockets to compete with the multibillion-dollar checks coming from the likes of Microsoft and Amazon . MGX was launched as a dedicated AI fund in March, with Abu Dhabi's Mubadala and AI firm G42 as founding partners. For the U.S., having sovereign wealth funds invest in American companies, and not in global adversaries like China, has been a geopolitical priority.

Persons: Goldman Sachs, Prince Mohammed bin Salman's, Uber, LIV, UAE's Mubadala, MGX, Abu Dhabi's Mubadala, Anthropic, Andreessen Horowitz, Jamal Khashoggi, It's, Bpifrance, WeWork spiraled, Jared Cohen, there's Organizations: United, CNBC, Microsoft, Gulf Cooperation Council, Saudi Public Investment Fund, Abu, Abu Dhabi Investment Authority, Qatar Investment Authority, BlackRock, Global Infrastructure Partners, Saudi, U.S, Saudi Company, Artificial Intelligence, Washington Post, SoftBank, Goldman Sachs Global Institute Locations: Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Pitchbook, Abu Dhabi, Temasek, Singapore, China, UAE

☆ The hottest AI startups are raising back-to-back funding rounds. Suddenly, it's feeling very 2021 in Silicon Valley for a chosen few.
▼ + stars: | 2024-09-20 | by ( Ben Bergman | Melia Russell | ) www.businessinsider.com time to read: +11 min

Read previewIn February, Glean announced a $200 million funding round valuing the AI enterprise software startup at $2.2 billion. AdvertisementThe transaction is the latest in a string of dizzying back-to-back funding rounds at ever-higher valuations for a handful of AI startups that stand in stark contrast to the doldrums of the overall market for startups. Earlier this year, Sakana raised $30 million in a seed funding round led by Lux Capital. Slingshot AI, which has built an automated mental health counselor, also raised separate rounds of funding just months apart. Advertisement"VCs are increasingly faced with frequent requests from their hot AI companies to follow on or double down on investments," said Iris Sun, an investor at 500 Global.

Persons: —, Glean, Arvind Jain's inbox, Jain, Steve Brotman, Perplexity, SoftBank, Sakana, Gregg Hill, that's, Matt Murphy, Dario Amodei, Kimberly White, Murphy, I'd, I've, Jenny Chang, Rodriguez, Jai Das, Rajeev Dham, couldn't, Das, Sapphire, Uber, Iris Sun, Chandrasekar Organizations: Service, Business, DST Global, Alpha Partners, Bloomberg, Google, New Enterprise Associates, Khosla Ventures, Lux Capital, Parkway Venture Capital, Menlo Ventures, Getty, Sapphire Ventures, Investments Locations: Tokyo

☆ Like digital locusts, OpenAI and Anthropic AI bots cause havoc and raise costs for websites
▼ + stars: | 2024-09-19 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +11 min

One study estimated that the world's supply of usable AI training data could be depleted by 2032. An OpenAI spokesperson said the company's bot was querying Coates' website roughly twice per second. But hungry AI botnets scrape first, ask questions later. "Utterly sick"Coates says his Game UI Database is back up and running and he continues to add to it. But Coates' story is emblematic of a bigger question: When AI comes to change the world, who bears the cost?

Persons: —, Edd Coates, Coates, Jay Peet, We've, Joshua Gross, Gross, Jennifer Martinez, Anthropic, Senecal, botnets, robots.txt, Roberto Di Cosmo, Di Cosmo, Tania Cohen, Cohen Organizations: Service, Business, OpenAI, Google, Microsoft, Software Heritage, Software Locations: It's

Amelia is the latest generative AI tool that Amazon has brought to market in the past year as it seeks to capitalize on the hype sparked by OpenAI's ChatGPT. The company has introduced an AI-powered shopping assistant named Rufus, a chatbot for businesses dubbed Q and Bedrock, a generative AI service for cloud customers. More than 400,000 of Amazon's millions of third-party sellers have used its AI listing tool, up from 200,000 in June, he said. With Amelia, Amazon is counting on generative AI to help with a key issue for third-party merchants — account troubleshooting. Amazon said the tool uses retrieval-augmented generation, or RAG, a popular AI industry framework that combines generative AI with long-established methods of information retrieval.

Persons: Nathan Stirk, Amelia, OpenAI's ChatGPT, Rufus, Anthropic, Andy Jassy, Jassy, Thos Robinson, it's, Dharmesh Mehta, Mehta Organizations: Getty, Central, CNBC, New York Times, Google, Microsoft, Merchants Locations: New York City, Seattle .

☆ An 'AI apocalypse' is coming to investing. How financial advisors can prepare
▼ + stars: | 2024-09-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +7 min

Artificial intelligence is expected to transform the way companies do business, including those in financial planning and investment management. That means financial advisors need to get onboard or risk being left behind. Of course, financial advisors have been using some technology, like financial planning software, for years. Still, AI will help financial advisors do their jobs better — not necessarily put them out of work. What to do Nexus Strategy's Welsh believes financial advisors should begin getting comfortable with current AI capabilities.

Persons: Craig Iskowitz, Anthropic's Claude, Vincent Gudsdorf, Leo Kelly, Verdence, Kelly, Timothy Welsh, Welsh, Iskowitz, That's, Verdence's Kelly, It's Organizations: Ezra Group, AIs

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