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Shares in Berkshire Hathaway fell more than 3% Monday (Aug. 4) after the firm revealed a drop in quarterly profits.
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That disclosure had come Saturday (Aug. 2) with the Warren Buffet-led firm’s earnings report, which also included a $3.8 billion write-down in Berkshire’s 27.4% stake in Kraft Heinz, Reuters reported. The report adds this write down as a second for the...
Experian launched a new artificial intelligence-powered tool.
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Experian Assistant for Model Risk Management is designed to help financial institutions better manage the complex credit and risk models they use to decide who gets a loan or how much credit someone should receive. The tool validates models faster and improves their auditability and transparency, according to...
Artificial intelligence startup OpenAI says it is on the verge of a new user-base milestone.
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“This week, ChatGPT is on track to reach 700M weekly active users — up from 500M at the end of March and 4× since last year,” Nick Turley, the company’s head of product, wrote in a post on X Monday (Aug. 4).
“Every day, people and teams are learning, creating, and solving harder...
The Securities and Exchange Commission (SEC) has launched an artificial intelligence (AI)-focused task force.
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The initiative, announced Monday (Aug. 4), is designed to promote responsible use of AI while enhancing innovation and efficiency in the SEC operations. Valerie Szczepanik, who has been named the SEC’s chief AI officer, will head the task force.
“Recognizing the...
Critical Metals Corp. made a discovery that could strengthen Western access to key materials used in semiconductors and clean energy technology.
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The company found high-grade concentrations of gallium and rare earth elements (REEs) at its Tanbreez Project in southern Greenland, according to a Monday (Aug. 4) press release.
New assays taken from surface samples and...
The Treasury Department is warning financial institutions to watch for scams involving convertible virtual currency (CVC) kiosks.
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While these kiosks can offer consumers an easier way to access CVC, they are also exploited by scammers and other criminals, the department’s Financial Crimes Enforcement Network (FinCEN) said in a notice issued Monday (Aug. 4).
“Criminals...
Uber Eats has debuted a series of artificial intelligence (AI) features for restaurants.
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The new offerings, introduced last week, allow restaurants to use AI to analyze customer reviews, auto-fill menu descriptions and enhance food photos.
“We’re using AI to detect and enhance low-quality food images — improving lighting, resolution, framing, and plating — to help...
There’s a prevailing sense of caution, a consumer mood that can even be called gloomy.
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But thus far into earnings season, a bit less than a month old, there are indications that, overall, U.S. households are proving to be resilient. There are categories, particularly essentials and packaged goods, which are drawing their fair share of the monthly budget.
Within retail,...
Software-as-a-Service (SaaS) platform Wix has debuted a suite of financial services offering for businesses.
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Wix Checking and Wix Capital, announced Monday (Aug. 4), are designed to help businesses manage cash flow and fund growth.
“With Wix Checking and Wix Capital, we’re giving users a complete financial solution built into the platform they already use,” Amit Sagiv...
Delta Air Lines said it is not using artificial intelligence (AI) to set airfares based on an individual passenger’s data, as it seeks to quell growing concerns about how it institutes “personalized pricing.”
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Delta Chief External Affairs Officer Peter Carter said that at any given time, it is selling “tens of millions of fares” for “hundreds of thousands of routes.” AI...