Regional bank stocks saw their losses for the week deepen as investors digest the failure of First Republic. Story Published at: May 02, 2023 at 06:23PM
PacWest falls more than 20% as regional bank stocks slide to new lows
Nearly 25% of jobs are set to be disrupted in the next five years — and A.I. could play a key role: World Economic Forum
WEF expects there to be 14 million fewer jobs overall in five years’ time as labor markets face an overhaul from AI and a slew of other factors.Story Published at: May 02, 2023 at 03:23PM
Chegg shares drop more than 40% after company says ChatGPT is killing its business
Chegg beat first-quarter expectations on the top and bottom lines but issued a weak second-quarter revenue outlook. Story Published at: May 02, 2023 at 02:40PM
Samsung bans use of A.I. like ChatGPT for employees after misuse of the chatbot
Samsung confirmed on Tuesday that it is temporarily restricting the use of generative AI products, such as ChatGPT, through the company’s personal computers.Story Published at: May 02, 2023 at 12:53PM
DCG-owned crypto exchange Luno loses top global exec as woes mount
Vijay Ayyar, Luno’s vice president of corporate development and international, resigned from the firm after seven years working there.Story Published at: May 02, 2023 at 12:46PM
One-pilot planes are a possibility as aviation embraces A.I., Emirates president says
One-pilot planes could be on the horizon thanks to rapid developments in artificial intelligence, Emirates President Tim Clark told CNBC.Story Published at: May 02, 2023 at 12:12PM
‘Other problems might be lurking’: Strategist is unconvinced by Jamie Dimon’s bank crisis comments
JPMorgan Chase CEO Jamie Dimon’s assertion that turmoil in the banking sector was effectively ended by the resolution of First Republic may be premature, one analyst has suggested.Story Published at: May 02, 2023 at 11:20AM
Singapore’s largest lender expects net interest margins will decline, but sees other growth drivers
With limited upside from these levels, CEO Piyush Gupta said he expects the pace of decline will be very gradual and not “falling off a cliff.”Story Published at: May 02, 2023 at 08:49AM
Oil major BP reports drop in first-quarter profit on weaker commodity prices
The first-quarter results come after a year of whopping profits for Big Oil.Story Published at: May 02, 2023 at 07:10AM
We’re in the AOL phase of artificial intelligence, tech CEO says, as industry raves about A.I.
Sachin Dev Duggal, CEO of Builder.ai, said we’ve only just begun to see what’s possible with AI and that the space is in need of a reality check.Story Published at: May 02, 2023 at 06:21AM