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German companies bet on AI but payoff could be years away

Livemint

Livemint · 1y ago

German companies bet on AI but payoff could be years away

German businesses are turning to artificial intelligence (AI) to boost productivity, but there are concerns about when tangible gains will be realized. Companies in Germany are increasingly using AI for automating processes and optimizing supply chains to improve efficiency and free up employees for higher-value tasks. However, data protection concerns, lack of use cases, and workforce skills are hindering wider adoption. Germany lags behind countries like India, the UAE, Singapore, and China in AI enterprise adoption. Additionally, Germany ranks sixth in private investment in AI globally. Despite the potential for job displacement, companies believe AI can enhance rather than replace human capabilities.

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The AI revolution is coming, but not as fast as some people think

Economic Times

Economic Times · 1y ago

The AI revolution is coming, but not as fast as some people think

Large companies, including JPMorgan Chase, are cautiously exploring generative AI, like ChatGPT, for potential transformative applications. However, due to concerns about data security, accuracy, and confidentiality, widespread adoption remains years away. Corporations are investing in generative AI startups, with funding reaching $15.3 billion in the first half of 2023. Experts predict that generative AI could enhance productivity and contribute trillions to the global economy, but its broad implementation will take time, following the historical pattern of major technological shifts.

Microsoft says to invest 3.2 billion euros in AI in Germany

Economic Times

Economic Times · 1y ago

Microsoft says to invest 3.2 billion euros in AI in Germany

Microsoft announced plans to invest 3.2 billion euros ($3.44 billion) in Germany over the next two years, focusing on artificial intelligence. The investment will mainly be allocated towards setting up data centers and training individuals in AI. Microsoft's chairman, Brad Smith, expressed confidence in Germany and its economy. German Chancellor, Olaf Scholz, welcomed the investment as a sign of confidence in the country. The exact locations of the investments were not disclosed, but Microsoft is primarily considering the western Rhineland region and the Frankfurt banking hub.

Nvidia CEO Jensen Huang says AI could pass human tests in five years

Economic Times

Economic Times · 1y ago

Nvidia CEO Jensen Huang says AI could pass human tests in five years

Nvidia CEO Jensen Huang predicts that artificial general intelligence (AGI) could arrive within the next five years, depending on how AGI is defined. Huang believes that if passing human tests is the criterion for AGI, then it could be achieved in five years. However, if AGI is defined differently, it may take longer due to disagreements among scientists on how to describe human minds. Huang also mentioned the need for more chip factories to support the expansion of the AI industry, but noted that advancements in algorithms and processing efficiency will also reduce the number of chips required.

Smartphone makers bet on AI to boost sales

Economic Times

Economic Times · 1y ago

Smartphone makers bet on AI to boost sales

Smartphone manufacturers showcased their latest devices with advanced artificial intelligence (AI) features at the Mobile World Congress in Barcelona. Companies like Samsung and Honor are integrating AI into their flagship phones to attract consumers and prompt phone upgrades. AI-powered features include real-time voice translation and advanced photo editing. The increased computing power in AI chips allows these features to be incorporated directly into the devices without relying on cloud computing. However, the challenge lies in educating and convincing consumers about the benefits of AI. Sluggish smartphone sales have driven manufacturers to explore AI as a potential revenue stream, similar to Apple's successful services model.

Alphabet CEO Sundar Pichai reaffirms planned $75 billion capital spending in 2025

Economic Times

Economic Times · 3m ago

Alphabet CEO Sundar Pichai reaffirms planned $75 billion capital spending in 2025

Alphabet CEO Sundar Pichai reaffirmed plans to invest $75 billion in 2025 to enhance data center capacity, focusing on generative AI developments. Despite an unclear payoff and potential cost increases from global trade tensions, the investment aims to improve core services like Search and support AI innovations such as the Gemini model. This substantial commitment reflects the vast opportunity AI presents, though investors are eager for greater returns on these massive expenditures.

The Consumption Bet

Business Today

Business Today · 5m ago

The Consumption Bet

Finance Minister Nirmala Sitharaman's Union Budget 2025-26 focuses on boosting domestic manufacturing, investments, and consumption amid rising external uncertainties. The budget aims to align fiscal and monetary policies to drive a consumption surge that could potentially revive economic growth. However, it remains to be seen if this strategy will succeed in mitigating the challenges posed by global economic factors and stimulate sufficient domestic economic activity to achieve desired outcomes.

Apple declares THESE products as Vintage. Check full list

Livemint

Livemint · 1y ago

Apple declares THESE products as Vintage. Check full list

Apple has added the iPhone X, first-generation AirPods, and original HomePod to its vintage product list, meaning they have been off the market for over five years but less than seven years. Vintage products are still eligible for repairs, depending on part availability, while obsolete products are no longer supported. The iPhone X was notable for its edge-to-edge OLED display and Face ID, while the AirPods marked Apple's move away from the headphone jack. In other news, Apple is reportedly bringing AI features to the Apple Vision Pro mixed reality headset, including advanced writing tools and an AI-powered Siri.

Early AI investor Elad Gil finds his next big bet: AI-powered rollups | TechCrunch

TechCrunch · 1m ago

Early AI investor Elad Gil finds his next big bet: AI-powered rollups | TechCrunch

Elad Gil, an AI investor, is focusing on using AI to transform mature, labor-intensive businesses through roll-ups. By enhancing efficiency and increasing margins, he aims to acquire and scale companies, emulating successful AI-driven adaptations. Gil's focus lies in fields like law and healthcare, supporting startups such as Harvey and Abridge. He enjoys the evolving AI landscape, finding it exciting to be at the forefront of transformative technological change.

Microsoft and OpenAI planning $100 billion data center project: report

Economic Times

Economic Times · 1y ago

Microsoft and OpenAI planning $100 billion data center project: report

Microsoft and OpenAI are reportedly collaborating on a massive data-center project called Stargate, an artificial intelligence supercomputer that could cost up to $100 billion. Microsoft is expected to finance the project, which is set to be launched by 2028. The companies are planning a series of installations over the next six years. The investment could total over $115 billion, surpassing Microsoft's expenditures on capital last year. Both companies have not officially commented on the reported project.

GEF Capital extends additional debt to existing portfolio bet

VCCircle

VCCircle · 1y ago

GEF Capital extends additional debt to existing portfolio bet

GEF Capital, a Mumbai-based private equity firm, has extended additional debt from its South Asia Growth Fund to Gurugram-based SaaS company 3SC. The $4 million fund infusion will be used by 3SC to enhance its AI/technology capabilities and expand operations globally, with a focus on its Indian supply chain and logistics operations. The investment will also be channelled towards product and technology development, as well as global market expansion. GEF Capital has previously invested in companies such as Premier Energies, Electra EV, and Hero Motors in South Asia.

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