Month: May 2023

Is ChatGPT king? How top free AI chatbots fared during field testing

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While OpenAI’s ChatGPT was the first artificial intelligence (AI)-powered chatbot to captivate the world after its public release in November 2022, a variety of competitors have entered the marketplace since then. Tech giants Google and Microsoft have launched their AI chatbots, with Google’s Bard removing its waitlist, and opening up to over 180 countries and territories on May 10, after Microsoft beat it to the punch and fully released its AI-powered Bing search engine on May 4. With several chatbots to choose from, Cointelegraph decided to put some of the…

Ripple Labs Debuts CBDC Platform for Central Banks

The CBDC Private Ledger, according to Ripple, will handle tens of thousands of transactions per second. Popular blockchain payments firm Ripple Labs Inc is set to launch its own Central Bank Digital Currency (CBDC) platform, which will allow central banks, governments, and financial institutions to issue digital currencies. The news comes shortly after Ripple and the Central Bank of Montenegro agreed to collaborate on the development of a pilot project for a national digital currency. This platform’s goal is to equip Central Banks with the technology and infrastructure required to…

BT Shares Drop 8% after BT Group Announced Move to Cut Up to 55K Jobs by 2030

The job cuts will happen despite an increase in its network connection, whereby BT Group reported a total of 8.6 million 5G connections, up 62% last year. Shares of BT Group PLC (LSE: BT.A) dropped as much as 8 percent on Thursday to trade around £136.85. The sudden drop in the £14.91 billion valued British multinational telecommunications holding company was attributed to the announcement that between 40,000 to 55,000 of its workforce will be reduced by 2030. According to the company, the workforce reduction is set to begin in five…

Walmart Q1 2023 Results Sees Retail Giant Beat Expectations on Earnings & Revenue despite Prudent Consumer Spending

Walmart “leveraged expenses and expanded operating margin” in Q1 2023 and now expects a 3.5% increase in consolidated net sales for the year.  Walmart Inc (NYSE: WMT) has raised its 2023 full-year guidance following its stellar Q1 earnings report. On Thursday, the multinational retail corporation reported better-than-expected revenue, which was boosted by grocery and online businesses. For the first quarter of the year, Walmart posted revenue of $152.30 billion compared to the $148.76 billion analysts expected. In addition, the Arkansas-based retail giant reported earnings per share of $1.47 adjusted versus $1.32 expected. Walmart’s…

Goldman Sachs Expects AI Tech to Boost S&P 500 Profits by 30% Over Next Decade

The investor community is brewing with optimism as it expects AI to drive profit growth at a time of rising borrowing costs and supply chain problems Although the onslaught of artificial intelligence (AI) is creating a major disruption in the market date, banking giant Goldman Sachs is bullish about the tech and expects it to boost the S&P 500 profits over the next decade. The emergence of ChatGPT from OpenAI and several AI platforms subsequently, has created a significant storm in the tech space. While on the one hand, AT…

Sony Mulls Finance Unit Listing amid Plans to Steepen Entertainment Interests

Sony could pursue a partial divisional spin-off by listing its finance unit within the next two to three years. Sony Group Corp is reportedly mulling a partial spin-off and listing of its finance unit just three years after assuming full ownership. The Japanese multinational conglomerate could retain a stake of slightly less than 20% of Sony Financial Group. In addition to a possible spin-off, Sony is also focusing on other operational plans, including strengthening its entertainment and image sensor businesses. The Tokyo-based company’s shares rose 6% on positive investor reception to…

Italy sets aside millions for workers at risk of AI replacement

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Italy’s back and forth with the emergence of artificial intelligence (AI) continues, after lawmakers in the country announced funds for those at risk of losing their jobs to automation.  On May 15 Italian officials set aside 30 million euros ($33 million) towards the Fondo per la Repubblica Digitale (FRD) to enhance the capabilities of the unemployed and those whose jobs are at risk of automation and AI-takeover. The FRD was initially set up by the Italian government back in 2021 with the mission of boosting digital skills and “developing the…