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Innovation News
Medium
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How AI is Revolutionizing Environmental Conservation Efforts
- AI-driven image and sound recognition algorithms are used for wildlife conservation efforts.
- AI helps identify areas of deforestation and monitor timber health.
- AI is critical in climate modeling and predicting extreme weather events.
- AI technologies optimize recycling processes and monitor air and water quality for waste management.
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Silicon
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Apple Sales Rise 6 Percent After Early iPhone 16 Demand
- Apple reports strong Q4 and FY24 results with a 6 percent rise in sales.
- The EU tax ruling against Apple impacts profits.
- Apple's net profit for Q4 is $14.7bn with sales totaling $94.9bn.
- Apple cuts orders for iPhone 16 amid concerns over continued momentum.
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HRKatha
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AWS staff push back against 5-day office requirement
- Over 500 Amazon and AWS employees have signed an open letter opposing the five-day in-office work policy endorsed by AWS CEO Matt Garman.
- Employees argue that the policy dismisses the benefits of flexible work and overlooks employees' ability to innovate remotely.
- The letter highlights potential adverse impacts on groups such as working parents, neurodiverse individuals, and those with disabilities or caretaking responsibilities.
- Employees call on AWS to lead in innovating workplace flexibility and reconsider the rigid in-office mandate.
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Pymnts
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Bank of America: Gateways Become Cash Flow Engines for Merchants
- Payment gateways are now being used strategically to improve cash flow and commerce.
- Gateways facilitate modernizing B2B interactions through automated invoicing and faster collections.
- Integration with systems like Oracle and SAP allows for easier reconciliation and faster receivables.
- Payment gateways enable new capabilities for merchants, such as offering a broad range of payment options for improved customer loyalty.
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Medium
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402
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What’s really going on with Waymo vs Tesla FSD?
- Waymo and Tesla's Full Self-Driving (FSD) systems are compared in terms of safety, profitability, and scalability.
- Neural nets in Tesla's FSD learn from subtle cues, improving safety, while hard-coded rules in Waymo have limitations.
- Tesla's FSD has lower costs of $0.20 per mile compared to Waymo's 10x higher charges.
- Tesla's FSD is expected to potentially undercut Waymo by 4-5 times and operate globally.
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Medium
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Multidimensional problems and how they fit in the Venture Capital Framework
- Venture Capital Framework emphasizes solutions that solve large economic problems in a scalable manner.
- VCs can prefer solutions with a unidimensional problem, which can add more complexity to solutions tackling multidimensional problems.
- New social-environmental-economic development frameworks, such as Sustainable Development Goals (SDGs) and Impact Reporting and Investing Standards (IRIS+), have expanded traditional metrics.
- 56% of allocator respondents allocate some part of their assets to impact investment strategies.
- Entrepreneurs should investigate investors' willingness to consider long-term impact beyond investment areas when pursuing ventures with high potential for multidimensional problems.
- Ultimatley, entrepreneurs must be able to frame their ventures' main economic trends that address the solution's various stakeholder expectations.
- VCs are generally still approaching problems conveniently with some exceptions for multidimensional approaches.
- Entrepreneur's should consider emphasizing the part of the problem-solution they want to present to VCs without compromising its long-term mission and impact.
- Multidimensional problems, such as agricultural plagues like the nematodes, benefit not only the consumers but also grantmakers, university tech transfer agencies, and local and national development banks.
- However, VC's tend to prefer unidimensional problems over multidimensional ones, which includes more complexity and weigh VCs down with more risk.
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Silicon
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How Agentic AI Became the Newest Form of Business Investment
- Agentic AI is revolutionizing the world of autonomous business investment by streamlining workflows, boosting productivity, and ensuring compliance, thus making it more valuable for regulated industries.
- AI was highlighted as the top priority for businesses according to Endava’s Emerging Tech Unpacked Report in 2024, particularly agentic AI or multi-agent AI systems that offer scalability without needing the level of human intervention that traditional AI requires.
- Adoption of AI systems requires a solid data-based foundation to support integration and adoption. Companies' outdated systems relying on software with severe security vulnerabilities may struggle to integrate AI systems successfully into their operations.
- The highest value AI brings is its ability to act autonomously, taking over tasks previously handled by humans, raising efficiency, and allowing humans to focus on higher-level creativity and analysis.
- Agentic AI involves agents assigned roles and data to perform their tasks and can adapt to changes in data or processes. They can also seek guidance from human staff if unsure of anything in their tasks.
- Adoption of agentic AI is beneficial to highly regulated industries, such as finance or health, as it streamlines processes, saves time and money, and ensures compliance without compromising data privacy.
- By adopting a data-first approach, companies can achieve AI transformation in their business operations without compromising their regulatory compliance and security of customer data.
- Agentic AI has the potential to transform business operations entirely and empower employees by eliminating menial and administrative tasks, thus allowing them to focus on valuable and creative work.
- Overall, agentic AI holds promise for businesses of all scales to automate processes, save resources, and scale at speed, leading to revenue growth, innovation, and talent.
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Silicon
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New EU Law Expands Digital Resilience to Third-Party Dependencies: What is the Impact on Businesses
- The EU’s Digital Operational Resilience Act (DORA) sets new standards for financial services, emphasizing digital resilience and oversight of third-party ICT dependencies.
- DORA mandates robust incident management, risk assessments, and compliance measures to ensure reliable, secure services across interconnected digital ecosystems.
- In the financial services sector, many customers now primarily interface with banks, insurance firms, and trading platforms digitally.
- With credibility at stake, it is essential that financial institutions maintain trust, visibility, and remain compliant.
- The European Union’s Digital Operational Resilience Act ('DORA') is set to take effect in January 2025.
- DORA will act as both a catalyst and a model for FS institutions and their service providers to rethink resilience in relation to system architectures and contractual arrangements.
- Banks and other FS institutions have had to rely on third-party payment applications, cloud platforms, and connectivity to execute effectively for some time now.
- DORA does introduce new and enhanced requirements that represent a step-change in accountability and requires financial institutions to become even more proactive.
- FS institutions need ways to quickly pinpoint where an issue is impacting the execution of a transaction and identify the root cause, both to pursue remediation and to meet enhanced disclosure and reporting requirements.
- In such a distributed environment, where modern applications rely on networks and services outside of FS companies’ domain of control, visibility is key.
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Silicon
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Spotify, Paramount Sign Up To Use Google Cloud ARM Chips
- Google Cloud has signed up Spotify and Paramount Global as early customers of its ARM-based data centre processing chip, Axion.
- The chip is designed to be more power-efficient, using about 60% less power compared to conventional counterparts.
- This power efficiency is beneficial for resource-intensive tasks like AI computing.
- ARM-based chips are gaining traction in the AI market, with SoftBank planning to compete directly with Nvidia in AI chip technology.
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Silicon
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Meta Warns Of Accelerating AI Infrastructure Costs
- Facebook parent Meta reported better-than-expected Q3 revenue and profits.
- However, user numbers were lower than expected.
- Meta warns of a significant acceleration in spending on AI infrastructure.
- Advertising revenue accounted for 98.3% of Meta's total Q3 revenues.
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Silicon
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AI Helps Boost Microsoft Cloud Revenues By 33 Percent
- Microsoft reported a 16% rise in revenues for its fiscal first quarter, reaching $65.6 billion.
- Revenue from Azure and other cloud services grew by 33% in the same period.
- The company's capital expenditures surged to $20 billion as it invests in data centre expansion.
- Microsoft's heavy investments in artificial intelligence (AI) technologies are paying off, helping drive growth and win new customers.
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Silicon
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Reddit Shares Surge On First-Ever Profit
- Social media site Reddit turned a profit for the quarter ended in September, the first in its nearly 20-year history, aided by artificial intelligence (AI) translation tools.
- The firm reported a profit of $29.9 million on sales of $348.4 million, representing a 68 percent year-on-year revenue increase.
- Daily users surged to 97.2 million, with a new AI translation feature being a major driver of user growth.
- Advertising remains the company's biggest revenue source, but licensing agreements with Google and OpenAI are starting to pay off.
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Medium
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393
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“Why Greatness Cannot be Planned”
- The book titled 'Why Greatness Cannot be Planned' by Joel Lehman and Kenneth Stanley is a self-help book disguised as a computer science research exposition.
- The book discusses the importance of luck and networking in achieving success, highlighting that hard work and intelligence are not the only factors.
- Joel Lehman and Kenneth Stanley are researchers in computational evolution and artificial intelligence respectively, and the book is published by Springer Verlag.
- The book challenges the notion that success can be planned and provides insights into the role of unpredictability in achieving greatness.
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Pymnts
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The Data-Ready Deficit Looms Large for the Platform Economy
- Only 28% of platform businesses consider themselves fully data-ready.
- Higher levels of data readiness lead to a 32% increase in customer retention rates.
- 54% of companies using real-time insights can tailor their offerings more effectively to meet customer demands.
- 63% of platform businesses plan to adopt artificial intelligence and machine learning for enhancing data analytics capabilities.
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Medium
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The Dance of Eternity (28)
- The Theory of Planned Happenstance advises individuals to view unexpected events and uncertainties as sources of growth and opportunity.
- John D. Krumboltz formalized the idea that individuals can attract luck by taking actions to make luck more likely.
- Krumboltz emphasized cultivating a mindset of 'Planned Happenstance' to transform unexpected events into sources of inspiration and professional advancement.
- Steve Jobs' insight of connecting past experiences aligns with Krumboltz's philosophy of accumulating a variety of experiences to increase chances of success and innovation.
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