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Microsoft restructures China retail strategy
Jul 02,2024
Microsoft is restructuring its retail strategy in mainland China, consolidating its retail channels amid reports of closing its network of authorised physical retailers. The tech giant did not confirm the closures or specify the number of stores affe...
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Amazon boosts AI strategy by acquiring Adept co-founders and key team members
Jul 01,2024
Amazon has recently hired the co-founders and several team members from AI startup Adept in a strategic move to bolster its AI capabilities. Adept's CEO David Luan and other key employees have joined Amazon. At the same time, the startup will continu...
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Bahamas pushes banks to adopt its digital currency
Jul 01,2024
The Bahamas, the first country to issue a central bank digital currency (CBDC) with its 'Sand Dollar' in 2020, is now preparing regulations to mandate commercial banks to provide access to the digital currency to boost its adoption. Central Bank Gove...
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Sony Group ventures into cryptocurrency trading with acquisition of Amber Japan
Jul 01,2024
Sony Group has ventured into the cryptocurrency trading platform sector by acquiring Amber Japan. That move signifies a strategic expansion for Sony, a conglomerate with a market value surpassing$100 billion and a diverse portfolio that includes gami...
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US small businesses increasingly adopt AI amid implementation challenges
Jun 27,2024
Small businesses in the United States increasingly turn to AI to improve their operations, although many encounter significant challenges during implementation. According to research conducted by Morning Consult on behalf of Visa, 52% of small busine...
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Infosys CEO settles insider trading charges
Jun 27,2024
According to India's markets regulator, Infosys CEO Salil Parekh has settled charges related to insufficient internal controls to prevent insider trading during a 2020 contract. Parekh agreed to pay approximately$30,000 to settle the charge, which st...
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AI-powered tool improves tramp shipping operations
Jun 26,2024
Bearing AI has unveiled an enhanced Deployment Planner tailored for tramp shipping companies following the success of its liner shipping version. Unlike liners, tramp operators manage one-off contracts between ports, posing challenges for emissions o...
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Toys 'R' Us pioneers text to video AI-generated advertising clip
Jun 26,2024
Company founder Charles Lazarus showcased Toys 'R' Us AI-generated short promotional clip at the 2024 Cannes Lions Festival in France. In an effort to regenerate interest in the brand, Lazarus collaborated with the creative agency Native Foreign usin...
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Central banks urged to embrace AI
Jun 25,2024
The Bank for International Settlements (BIS) has advised central banks to harness the benefits of AI while cautioning against its use in replacing human decision-makers. In its first comprehensive report on AI, the BIS highlighted the technology's po...
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Chinese AI companies respond to OpenAI restrictions
Jun 25,2024
Chinese AI companies are swiftly responding to reports that OpenAI intends to restrict access to its technology in certain regions, including China. OpenAI, the creator of ChatGPT, is reportedly planning to block access to its API for entities in Chi...
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India's digital currency usage plummets
Jun 25,2024
According to insider sources, India's digital currency, the e-rupee, has seen a sharp decline in usage, dropping to just one-tenth of its peak usage in December. The Reserve Bank of India (RBI) launched the e-rupee in a pilot program in December 2022...
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Shopify launches AI chatbot Sidekick
Jun 24,2024
Shopify is launching its new AI chatbot, 'Sidekick,' in early access as part of its 2024 Summer Edition updates. Sidekick, initially revealed last year, is designed to assist merchants with tasks such as creating discount codes, generating store repo...
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