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Bill Gates Engages in a Candid Conversation with Sam Altman on OpenAI’s Rapid Ascendancy

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Feature image from the blog of Bill Gates.

In a current podcast, Microsoft co-founder Bill Gates delves into the intricacies of artificial intelligence with OpenAI CEO Sam Altman, shedding light on the fast development of AI and its capability impact on the body of workers. Despite the challenges posed via AI, each tech leaders foresee a future where automation now not only removes sure jobs but also paves the way for more captivating and fulfilling opportunities.

Gates, who stepped down from Microsoft’s board in 2020, maintains near collaboration with AI teams, showcasing an eager hobby within the evolving landscape. The podcast recorded earlier than Altman’s brief hiatus from OpenAI, captures a pivotal second inside the corporation’s growth, with Altman expressing pleasure approximately the challenges beforehand.

Altman discusses the evolving panorama of AI, highlighting the surprising discoveries that result in advancements. Gates, in a preceding podcast, touched upon the “black box” problem, emphasizing the challenge of know-how knowledge encoding and prompt engineering. Altman expresses confidence that AI will unravel these mysteries, doubtlessly main to greater green and correct fashions.

Addressing issues approximately the price of deploying AI, Altman reveals full-size cost reductions, making GPT-3 40 times greater low priced. He anticipates an extraordinary reduction in the price of intelligence, potentially remodeling society.

The verbal exchange takes a flip in the direction of the future of hard work, with Altman assuring that as AI advances on a continuous curve, new and advanced jobs will emerge. He emphasizes that effective AI gear enhances human competencies, allowing people to interact in qualitatively specific tasks. Altman cites programming, education, and healthcare as areas already experiencing productiveness profits.

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Gates increases issues approximately the speedy pace of technological evolution, prompting Altman to well-known the want for society to evolve swiftly. The discussion touches upon the ability effect on blue-collar jobs, with Altman expressing enthusiasm for improvements in robotics.

The communique concludes on a philosophical note, as Gates ponders the task of defining human purpose in a global in which AI can perform most duties. Altman remains constructive, affirming that, at the same time as the panorama will exchange, new troubles and methods of locating success will emerge.

Despite the profound challenges posed by superior AI, communication is marked by employing an unexpected sense of optimism. Gates even wonders if AI could make contributions to fostering worldwide harmony, a sentiment echoed through Altman, who believes that generation will marvel at humanity with its superb contributions to the maximum complicated human issues.

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Standard Chartered CEO Defends ESG Investing Amid U.S. Backlash

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Ryan Lim | Afp | Getty Images
  • Standard Chartered chief executive Bill Winters defends environmentally conscious investing, dismissing U.S. backlash against ESG.
  • Winters emphasizes the importance of sustainable practices for both the planet and business profitability.
  • Despite political tensions, Winters highlights ongoing engagement with net-zero objectives and business growth.

Standard Chartered CEO, Bill Winters, asserts that environmentally conscious investing remains beneficial for businesses, despite the political backlash against ESG (environmental, social, and governance) initiatives in the United States.

In an interview with CNBC’s “Squawk Box Europe,” Winters addressed concerns surrounding the perception of ESG as “woke capitalism,” emphasizing the importance of prioritizing sustainable practices. He stated, “I mean, I do want to wake up one day and have a planet so if that makes me woke, shoot me.”

Acknowledging the politically charged environment in the U.S., Winters pointed out the irony of Texas, a leading state in renewable power, opposing pension fund managers with ESG agendas. However, he remains committed to sustainable efforts, citing Standard Chartered’s dual-track objectives of achieving net-zero carbon emissions by 2025 and 2050 for its own firm and financed emissions, respectively.

Winters emphasized the alignment of sustainable initiatives with business profitability, noting the continued engagement of clients in pursuing net-zero goals. He highlighted the growth of Standard Chartered’s business supporting sustainable practices, indicating a positive outlook for both environmental impact and financial returns.

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Despite challenges and political tensions, Winters reaffirmed the company’s dedication to sustainability, emphasizing that it is “not philanthropy” but a commitment to “do the right thing for the planet” while ensuring business success.

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Europe’s GRANOLAS: Powering Stock Markets to New Highs Amid Magnificent Seven Comparisons

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Staff | Reuters

In a remarkable feat, just 11 stocks have been the driving force behind half of the gains propelling Europe’s pan-European Stoxx 600 stock index to record highs. Termed the “GRANOLAS” by Goldman Sachs in 2020, these stocks represent a group of “internationally exposed quality growth compounders” with substantial market caps, akin to the Magnificent Seven U.S. tech giants.

Comprising GSK, Roche, ASML, Nestle, Novartis, Novo Nordisk, L’Oreal, LVMH, AstraZeneca, SAP, and Sanofi, the GRANOLAS collectively account for approximately a quarter of the Stoxx 600’s total market cap. Goldman Sachs analysts underscore their solid earnings growth, high margins, and robust balance sheets as key drivers of this group’s momentum.

Despite trading at high price-to-earnings ratios, typical of growth companies, the GRANOLAS offer significant value compared to their U.S. counterparts. They exhibit lower volatility, contributing to an enhanced Sharpe ratio and making them an attractive investment proposition.

Goldman Sachs forecasts continued strong growth for the GRANOLAS, with a projected 7% compound annual growth rate in revenue through 2025, outpacing the wider market. Moreover, these stocks offer dividend yields in the 2-2.5% range, further enhancing their appeal to investors.

While concerns about concentration risk loom, analysts point out the diversity of sectors represented within the GRANOLAS group, potentially mitigating such risks. However, caution is warranted, as prolonged market complacency could leave equities vulnerable to negative surprises, underscoring the need for prudent risk management strategies.

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As Europe’s GRANOLAS continue to dominate stock market gains, investors are closely monitoring their performance amid comparisons to their U.S. tech counterparts and the potential implications for broader market dynamics.

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Walmart’s Acquisition of Vizio: A Strategic Move to Transform Advertising and Boost Profits

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Walmart, the retail giant, recently made headlines with its announcement of acquiring smart TV maker Vizio in a significant $2.3 billion deal. Beyond just expanding its consumer electronics portfolio, the acquisition signals Walmart’s strategic push deeper into the realm of advertising.

By integrating Vizio’s extensive reach into its ecosystem, Walmart aims to tap into the lucrative world of streaming entertainment and link it seamlessly with consumer purchasing behaviors. Jefferies retail analyst Corey Tarlowe emphasizes that the core of this acquisition lies in the realm of advertising opportunities rather than the physical televisions themselves.

Vizio has evolved beyond being just a TV manufacturer. With its SmartCast operating system, it has transformed into a software company, offering viewers a seamless streaming experience with built-in apps like Netflix and Hulu. Moreover, SmartCast facilitates targeted advertising, providing Vizio with multiple revenue streams through ad placements on the home screen, within its free streaming app WatchFree+, and through agreements with third-party streaming platforms.

With Walmart’s ownership, the potential synergies are vast. Not only can Walmart dictate pricing and expand SmartCast’s user base by integrating it into its own brand of TVs, but it can also leverage Vizio’s data insights to deliver highly personalized ads. Vizio’s knowledge of streaming preferences combined with Walmart’s deep understanding of consumer purchasing habits creates a powerful synergy for targeted advertising.

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Additionally, Walmart’s aggressive expansion of its advertising business aligns with its broader strategy of driving profitability. Compared to traditional retail operations, advertising offers significantly higher margins, making it a lucrative avenue for revenue growth. With Amazon’s success in advertising as a reference point, Walmart aims to replicate a similar model, capitalizing on the rapid growth of its advertising segment.

The acquisition of Vizio also aligns with Walmart’s efforts to enhance its existing advertising platforms. With Walmart Connect experiencing significant growth in recent quarters, the addition of Vizio’s advertising capabilities could further accelerate this momentum. Furthermore, with the rise of streaming services, Walmart stands to benefit from TV spot placements on these platforms, opening up new revenue streams.

While Walmart’s exact plans for Vizio post-acquisition remain undisclosed, Walmart CFO John David Rainey has expressed excitement about the potential synergies, describing advertising as a vital part of the business. With Vizio under its wing, Walmart is poised to reshape the advertising landscape and drive growth in its digital ecosystem.

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