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How companies are embracing generative AI...or not
  + stars: | 2023-09-22 | by ( Jennifer Korn | ) edition.cnn.com   time to read: +9 min
New York CNN —Companies are struggling to deal with the rapid rise of generative AI, with some rushing to embrace the technology as workflow tools for employees while others shun it – at least for now. Some companies are enacting internal bans on generative AI tools as they work to better understand the technology, and others have already begun to introduce the trendy tech to employees in their own ways. Among media companies that produce news, Insider editor-in-chief Nicholas Carlson has encouraged reporters to find ways to use AI in the newsroom. Of the companies currently banning ChatGPT, some are discussing future usage once security concerns are addressed. “I don’t think it’s that companies are against AI and against machine learning, per se.
Persons: JPMorgan Chase, Northrup, it’s, Mark McCreary, Fox Rothschild, McCreary, , ” Jonathan Gillham, Nicholas Carlson, , ChatGPT, Larry Feinsmith, ” Northrop Grumman, “ They’re, they’re, ” Vern Glaser, Cheryl Ainoa, Donna Morris, PwC, “ Lilli ”, Lilli, Jacky Wright, EY.ai, OpenAI, ” Glaser Organizations: New, New York CNN — Companies, JPMorgan, Northrup Grumman, Apple, Verizon, Spotify, Accenture, Fox, Fox Rothschild LLP, CNN, “ Companies, Gannett, The Columbus Dispatch, UBS, JPMorgan Chase, Wall Street Journal, Entrepreneurship, Enterprise, University of Alberta, Walmart, Emerging Technologies, Consulting, McKinsey, PwC, ChatGPT, Fortune, ChatGPT Enterprise, Microsoft, Bing Locations: New York, ChatGPT, America
Deutsche Bank reiterates Wells Fargo as buy Deutsche Bank said it's standing by its buy rating on the stock. " BTIG initiates Instacart as neutral BTIG initiated the stock with a neutral rating mainly on valuation. Raymond James initiates Ralph Lauren as outperform Raymond James said in its initiation of Ralph Lauren that it has "strengthening direct-to-consumer." Oppenheimer reiterates Netflix as outperform Oppenheimer lowered its price target on the stock but said it's standing by its outperform rating on shares of Netflix. "Following CFO comments at competitor conference, we are lowering '24E/'25E margins and reducing target to $470 from $515, but maintaining Outperform rating on revenue outlook."
Persons: Goldman Sachs, it's, Meta's, Raymond James, Ralph Lauren, Wells, Wells Fargo, Oppenheimer, Morgan Stanley, XOM, Jefferies, Chris Rolland, downgrades Deere, Canaccord, Bernstein, underperform Bernstein Organizations: Constellation Brands, Deutsche Bank, WFC, Citi, Meta Citi, Meta's, Meta, CART, Bank of America, Apple, of America, Boeing, Communications, Cable, UBS, Netflix, Jefferies, Susquehanna, Semiconductor, Deere, HSBC, Walmart, Procter, Gamble, Procter & Gamble Locations: China, EBITDA
REUTERS/Rami Amichay Acquire Licensing RightsSept 21 (Reuters) - Microsoft (MSFT.O) on Thursday announced a "unified" artificial intelligence (AI) for its Windows 11 platform and four new Surface devices, upping the appeal of its products spruced with the latest technology. The new AI tool, called Copilot, will work across the company's web and productivity applications Bing, Edge browser, and Microsoft 365 software suite. The updated AI software will roll out with the latest changes to Windows 11 on Sept. 26. It will be available in Microsoft 365 Copilot on Nov. 1, when the highly anticipated enterprise AI tool will be generally available for purchase. Microsoft on Thursday announced three laptops - Surface Laptop Go 3, Surface Laptop Studio 2 and Surface Go 4 For Business - and Surface Hub 3, the newer version of its interactive whiteboard.
Persons: Rami Amichay, Bing, OpenAI's, Panos, Yusuf Mehdi, Yuvraj Malik, Jeffrey Dastin, Maju Samuel Organizations: Microsoft, REUTERS, Big Tech, Apple, GenAI, Thomson Locations: Herzliya, Tel Aviv, Israel, Redmond , Washington, Panos Panay, Bengaluru, San Francisco
It's time to buy International Business Machines as it's undervalued, according to RBC Capital Markets. Analyst Matthew Swanson initiated coverage of IBM with an outperform rating, saying the value of the tech company's software business specifically is being overlooked by investors. He expects IBM can carve out its own niche in artificial intelligence as it has in hybrid cloud enablement. "We feel the company's software business is misunderstood, and undervalued, particularly its role in hybrid environments, AI and spend optimization," he added. IBM 1D mountain IBM shares 1-day IBM can support businesses in their A.I.
Persons: Matthew Swanson, Swanson, — CNBC's Michael Bloom Organizations: Machines, RBC Capital Markets, IBM
Inside PwC's push to train its workers on AI
  + stars: | 2023-09-18 | by ( Tim Paradis | ) www.businessinsider.com   time to read: +5 min
PwC plans to train 75,000 workers in the US and Mexico on artificial intelligence. The training comes as some new hires don't posses certain necessary tech skills. The training is designed to teach partners and employees what AI is and how they can safely incorporate it into their work. That's sending big companies, including the consulting giants, into a race to acquire expertise in AI and to train up their workforces. To help ensure workers have the necessary skills, the company puts new hires and even interns through training programs.
Persons: , Shannon Schuyler, Schuyler, Yolanda Seals Organizations: Service, PricewaterhouseCoopers, New, Workers Locations: Mexico, Wall, Silicon, GenAI
McAfee CEO Greg Johnson told Insider GenAI is making threats like phishing more sophisticated. The more benefit it brings to consumers, it also goes to the scammers, Johnson said. The CEO of McAfee, the online security company known for its antivirus software, is embracing generative artificial intelligence as a way to boost his employees' productivity and help them keep up with online threats. "You used to have pretty blunt ways of attacking consumers," Johnson said. "And in that world, with Gen AI most recently, it's just accelerating the change that consumers are having to navigate."
Persons: Greg Johnson, GenAI, Johnson, Greg Johnson McAfee Johnson, McAfee, they've Organizations: McAfee, Service Locations: Wall, Silicon
REUTERS/Dado Ruvic/Illustration//File Photo Acquire Licensing RightsSept 14 (Reuters) - Photoshop software maker Adobe (ADBE.O) forecast current-quarter profit above Wall Street estimates on Thursday, after beating revenue estimates for the third quarter on strong demand for its photo, video editing and document tools with generative AI integrations. Excluding items, it reported earnings of $4.09 per share in the quarter ended Sept. 1, above analysts' estimates of $3.98 per share, according to LSEG data. Quarterly revenue stood at $4.89 billion, compared with estimates of $4.87 billion. Adobe expects revenue between $4.98 billion and $5.03 billion for the fourth quarter, compared with analysts' expectation of $5 billion, according to LSEG data. The company expects fourth-quarter adjusted profit between $4.10 and $4.15 per share, compared with analysts' average estimate of $4.06 per share.
Persons: Dado Ruvic, Akash Sriram, Shailesh Organizations: REUTERS, Adobe, Wall, Thomson Locations: San Jose , California, Bengaluru
The company logo for Salesforce.com is displayed on the Salesforce Tower in New York City, U.S., March 7, 2019. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSept 12 (Reuters) - Enterprise software maker Salesforce (CRM.N) on Tuesday launched a generative AI tool that would be available across its suite of apps from instant messaging service Slack to data visualization tool Tableau and can be tailored by its clients to meet their needs. Salesforce says its Einstein Copilot can tap customer and enterprise data available on its Data Cloud to generate appropriate responses. Users will be able to embed the assistant into their websites or integrate them with messaging platforms such as Slack and Meta Platform's (META.O) WhatsApp. The company also doubled its venture capital fund for generative AI startups to $500 million in June.
Persons: Brendan McDermid, Slack, Einstein, Salesforce, Marc Benioff, OpenAI's ChatGPT, Zaheer Kachwala, Tasim Zahid Organizations: REUTERS, Enterprise, Tuesday, Meta, Microsoft, Thomson Locations: New York City, U.S, San Francisco, Bengaluru
JPMorgan upgrades Tenable to overweight from neutral JPMorgan said the security software solutions company is "well positioned for better fundamentals." JPMorgan upgrades Nubank to overweight from neutral JPMorgan said it sees an attractive entry point for the Brazilian neobank company. JPMorgan downgrades Brunswick to neutral from overweight JPMorgan said higher interest rates will weight on the marine recreation company in the months ahead. Bank of America reiterates Nvidia as a top pick Bank of America said Nvidia shares remain "compelling" at current levels. " Bank of America initiates Raymond James as buy Bank of America said the financial services company is well positioned and has a defensive portfolio. "
Persons: Morgan Stanley, Tesla, Raymond James, RJF, Evercore, Redburn, Bob Iger, Johnson, Jefferies, Bernstein, Brown, Forman, Baird, it's Organizations: supercomputing, Investors, JPMorgan, TENB, Brazilian, Bank of America, CSX, of America, 3Q, JPMorgan downgrades, Nvidia, AMD, Barclays, UBS, Amazon, Netflix, Disney, Deutsche Bank, Deutsche, Citi, Microsoft Citi, Microsoft, Apple Locations: JPMorgan downgrades Brunswick, North America
There's a "rich" catalyst path ahead for Microsoft shares, according to Citi. The firm initiated a positive 90-day catalyst watch on Microsoft shares. While the tech giant's stock is up nearly 40% year to date, it has lagged on a relative basis since it issued disappointing quarterly revenue guidance in July. Microsoft shares have declined 5% since, while other shares in its peer group have gained 4.9%. Radke's initial read on fiscal first-quarter earnings is more positive owing to inputs on cloud consumption trends and stabilization in the PC market.
Persons: Tyler Radke, Radke, — CNBC's Michael Bloom Organizations: Microsoft, Citi, CoPilot
Based on his price objective of $650 per share, Arya's forecast implies nearly 44% upside from Monday's closing price of $451.78. Since the beginning of 2023, Nvidia's forays into AI have vaulted its stock price over 209%. But even Nvidia has not been immune to growing investor concerns around rising U.S.-China tensions, weakening industrial activity, and the sustainability in demand for generative AI products. Over the long term, the analyst expects Nvidia's earnings potential and several catalysts will continue to drive its share price higher. He warned investors may be "overlooking" these factors, which include the company's expanding product offerings, especially those within the generative AI space.
Persons: Vivek Arya, Arya, CNBC's Michael Bloom, Samantha Subin Organizations: of America, Nvidia, Semiconductor, AMD Locations: China
Deutsche Bank is aggressively experimenting with AI capabilities to transform the bank. Then they cut to black before text came into focus to provide intel on Cymbal, a hypothetical corporate client of Deutsche Bank. Deutsche Bank is aiming to transform the business and work of banking. There's a lot of assumptions," Gil Perez, Deutsche Bank's chief innovation officer, told Insider. The bank will need to compete for in-demand AI tech talent, a market that is only set to heat up.
Persons: Gil Perez, Perez, Tamara Bitticks, Bitticks, There's Organizations: Deutsche Bank, DB, intel, Google, Deutsche, Bankers, Wall, genAI Locations: San Francisco, Washington
Microsoft to defend customers on AI copyright challenges
  + stars: | 2023-09-07 | by ( ) www.reuters.com   time to read: +1 min
Sept 7 (Reuters) - Microsoft (MSFT.O) will pay legal damages on behalf of customers using its artificial intelligence (AI) products if they are sued for copyright infringement for the output generated by such systems, the company said on Thursday. Microsoft will assume responsibility for the potential legal risks arising out of any claims raised by third parties so long as the company's customers use "the guardrails and content filters" built into its products, the company said. It offers functionality meant to reduce the likelihood that the AI returns infringing content. The company's Copilot Copyright Commitment extends Microsoft's existing intellectual property indemnification coverage to copyright claims relating to the use of its AI-powered assistants called Copilots and Bing Chat Enterprise. Reporting by Yuvraj Malik in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
Persons: OpenAI, Yuvraj Malik, Shailesh Organizations: Microsoft, Bing, Thomson Locations: ChatGPT, Bengaluru
[1/2] AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken June 23, 2023. Some have expressed concern that students might similarly rely on AI to produce work and effectively cheat - especially as AI content gets better with time. Passing off GenAI as original work could also raise copyright issues, prompting questions over whether AI should be banned in academia. It has provided that tool free to more than 10,000 education institutions globally, although it plans to charge a fee from January. So far, the AI detection tool has found that only 3% of students used AI for more than 80% of their submissions and that 78% did not use AI at all, Turnitin data shows.
Persons: Dado Ruvic, OpenAI, ChatGPT, Bard, Leif Kari, Rachel Forsyth, Sophie Constant, Stefania Giannini, Kirsten Rulf, Deepa Babington Organizations: REUTERS, Lund, University of Western, University of Hong, Microsoft, Royal Institute of Technology, United Nations Educational, Cultural Organization, UNESCO, Strategic, Lund University, England's University of Oxford, Reuters, European Union, EU, Boston Consulting Group, Thomson Locations: STOCKHOLM, University of Western Australia, Perth, University of Hong Kong, Stockholm, Sweden, Britain, Singapore
REUTERS/Dado Ruvic/Illustration//File Photo Acquire Licensing RightsSTOCKHOLM, Sept 7 (Reuters) - UNESCO on Thursday published its first guidance on use of Generative AI (GenAI) for education, urging governmental agencies to regulate the use of the technology, including protection of data privacy and putting an age limit for users. Students have also taken a liking for GenAI, which can generate anything from essays to mathematical calculations with just a few line of prompts. Among a series of guidelines in a 64-page report, UNESCO stressed on the need for government-sanctioned AI curricula for school education, in technical and vocational education and training. While China has formulated rules on GenAI, the European Union's AI Act is likely to be approved later this year. The Paris-based agency also sought to protect the rights of teachers and researchers and the value of their practices when using GenAI.
Persons: Dado Ruvic, OpenAI, GenAI, ChatGPT, Bard, Stefania Giannini, Supantha Mukherjee, Aurora Ellis Organizations: REUTERS, Rights, UNESCO, Microsoft, Reuters, Thomson Locations: Rights STOCKHOLM, China, Paris, Stockholm
Sept 6 (Reuters) - Intuit (INTU.O) launched an artificial intelligence-powered assistant on Wednesday to help clients in financial decision-making when using its products, ranging from tax-preparation tool TurboTax to bookkeeping software QuickBooks. The generative AI tool named "Intuit Assist" marks the latest effort by the financial software company to capitalize on the technology that has taken the world by storm after the rise of OpenAI's ChatGPT. The service uses the company's proprietary generative AI (GenAI) operating system designed to run with its own large language models. Chief Data Officer Ashok Srivastava told Reuters that Intuit's models "competed favorably" against sophisticated third-party rivals in accuracy tests conducted internally. The assistant is currently available to all TurboTax customers and select customers of Intuit's remaining products, with more features lined up for the 2023 tax season, the company said.
Persons: Ashok Srivastava, Arsheeya Bajwa, Akash Sriram, Shweta Agarwal Organizations: Intuit, Reuters, Thomson Locations: Bengaluru
Signs for Hewlett Packard Enterprise Co., cover the facade of the New York Stock Exchange November 2, 2015. HP Enterprise expects current-quarter revenue between $7.2 billion and $7.5 billion, the mid-point of which was below analysts' expectations of $7.49 billion, according to Refinitiv data. Rival Arista Networks (ANET.N) forecast a robust quarterly revenue after delivering better-than-expected results, helped by higher demand for its cloud gear following AI push. On an adjusted basis, HPE earned 49 cents per share for the third quarter ended July 31, compared with expectations of 47 cents. The Spring, Texas-based company posted quarterly revenue of $7.0 billion, beating analysts' estimate of $6.99 billion, according to Refinitiv IBES data.
Persons: Brendan McDermid, HPE, Akshita Toshniwal, Shailesh Organizations: Hewlett Packard Enterprise Co, New York Stock, REUTERS, Hewlett Packard Enterprise, Wall, HP Enterprise, Arista Networks, HP, Dell Technologies, Nvidia, Thomson Locations: , Texas
Google unveils enterprise AI tools, new AI chip
  + stars: | 2023-08-29 | by ( Max A. Cherney | ) www.reuters.com   time to read: +3 min
Google logo and AI Artificial Intelligence words are seen in this illustration taken, May 4, 2023. But its big business customers need to be deliberate and move at a different pace, Google Cloud chief Thomas Kurian said in an interview with Reuters. The AI infrastructure includes deals to bring Google Cloud customers access to Meta Platforms' (META.O) AI model LLaMa 2, and to the startup Anthropic's Claude 2. Google also rolled out AI updates to its suite of office software and security tools. Cloud customers can connect several pods together in order to tackle more complex computing problems.
Persons: Dado Ruvic, Estee Lauder, Thomas Kurian, We've, Max A, Matthew Lewis Organizations: REUTERS, FRANCISCO, Google, General Motors, Estee Lauder Companies, Microsoft, Reuters, Oracle, Thomson Locations: San Francisco
Bank of America expects this software stock to benefit from heightened demand for secure solutions as artificial intelligence disrupts the world. Analyst Mariana Perez Mora reiterated her buy rating on Palantir Technologies and $18 price target, calling the company a "key player" even after its recent pullback. Palantir sits in a "unique position" as an enabler of AI implementation across commercial and government sectors, she said. Based on Bank of America's price target, Perez Mora sees more upside in store, with the $18 objective implying shares could rally another 23% from Monday's close. Key to Palantir's growth story is its recently released AI platform, which fuels the growing need for secure and reliable data infrastructure, Perez Mora said.
Persons: Mariana Perez Mora, Palantir, Perez Mora, — CNBC's Michael Bloom Organizations: of America, Palantir Technologies, Bank of, AIP, U.S . Department, National Health Service Locations: Monday's
JPMorgan warned that rapid growth in artificial intelligence is no guarantee of sustained earnings increase — and could leave many companies at risk. However, this does not guarantee sustained earnings growth and [return on equity] expansion," JPMorgan analysts led by Ranjan Sharma wrote in a note to clients on Aug. 9. According to JPMorgan, AI costs are also expected to continue dropping in light of lower computing costs and the development of more open-source AI models. The company owns the e-commerce platform Shopee, the fintech platform SeaMoney and the game development studio Garena. "In our view, SE's gaming business could face increased competitive risks as GenAI reduces barriers for entry in game development.
Persons: OpenAI's ChatGPT, Ranjan Sharma, TDCX, CNBC's Naman Tandon Organizations: JPMorgan, Sea Ltd, NYSE Locations: New York, Singapore
AI (Artificial Intelligence) letters and robot hand are placed on computer motherboard in this illustration taken, June 23, 2023. It warned, however, that clerical work would likely be the hardest hit, potentially hitting female employment harder, given women's over-representation in this sector, especially in wealthier countries. An explosion of interest in generative AI and its chatbot applications has sparked fears over job destruction, similar to those that emerged when the moving assembly line was introduced in the early 1900s and after mainframe computers in the 1950s. But most other professions, like managers and sales workers, are only marginally exposed, it said. Still, the U.N. agency's report warned that the impact of generative AI on affected workers could still be "brutal".
Persons: Dado Ruvic, Emma Farge, Alison Williams Organizations: REUTERS, Rights, International Labour Organization, Thomson
Investors are awaiting Nvidia's second-quarter earnings report after the market close on Wednesday. Here's what Wall Street expects from Nvidia's upcoming earnings report. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. They've got so many customers," Tesla CEO Elon Musk said during Tesla's second-quarter earnings call in July. Here's what the Wall Street analysts are saying about Nvidia's upcoming earnings report.
Persons: They've, Elon Musk, Tesla's, BofA, Goldman Sachs Organizations: Service, Nvidia, Wall Street, Barclays, AMD, Bank of America, SOX Locations: Wall, Silicon, YahooFinance, Asia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRBC's list of stock winners and losers looking to enter the GenAI spaceRishi Jaluri, Software Managing Director at RBC Capital Markets, lays out the key stocks he believes will benefit from AI.
Organizations: Software, RBC Capital Markets
The goal is to build automation tools for AI security and foster partnerships across the company. "In Q2 2023, Amazon Security created the Maverick program to ensure LLM based experiences uphold our high security standards to protect customer data and trust. The Amazon Web Services cloud unit also created an independent team focused on helping customers use generative AI, Insider previously reported . The new Maverick initiative wants to "understand GenAI risks" to Amazon and create "centralized GenAI security testing tools," according to the internal document. The second involves partnering with security teams to "create GenAI security guidance and add specific tasks to existing security mechanisms," the document added.
Persons: John, Flynn, Uber's CISO, Adam Montgomery, Maverick, Andy Jassy, LLMs, Jassy Organizations: Amazon, Amazon Security, Excellence, Amazon's, Microsoft, Google, Services, AWS
Here are Monday's biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's sticking with its overweight rating after Apple's quarterly 10-Q report. Morgan Stanley upgrades Laureate to overweight from equal weight Morgan Stanley said the education company is a beneficiary of nearshoring. Morgan Stanley reiterates Palo Alto Networks as overweight Morgan Stanley said the company has a "differentiated" and "disruptive" platform. " UBS reiterates Berkshire Hathaway as buy UBS said it's standing by its buy rating on shares of Berkshire after its earnings report Saturday. Morgan Stanley reiterates Cinemark as overweight Morgan Stanley said it's standing by its overweight rating on Cinemark as the success of "Barbie" and "Oppenheimer" has "squashed" the theatrical bear case.
Persons: Morgan Stanley, Apple, DA Davidson, Andy Jassy, Wells, Holley, it's, Raymond James, Charles Schwab, Schwab, EchoStar, Guggenheim, Berkshire Hathaway, Cinemark, Oppenheimer, Truist, Piper Sandler, Piper, MNST, Wright Organizations: UBS, Meta, Facebook, Bank of America, Nvidia, U.S ., Networks, Alto Networks, United Airlines, Berkshire, Comcast, CNBC, Monster Beverage Locations: WhatsApp, nearshoring, United, Berkshire, NBCUniversal
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