Financial Briefs

NMPA Seeks $250m Damages in Lawsuit Against Twitter for Music Copyright Infringement. The NMPA accuses Twitter of profiting from unlicensed music, giving it an unfair advantage over licensed competitors like TikTok and Facebook. NMPA President David Israelite states that Twitter is the largest social media platform refusing to license millions of songs. Twitter has not …

US Music Publishers Sue Twitter for Copyright Violations Read More »

The average long-term US mortgage rate dropped again this week, benefiting potential homebuyers. According to Freddie Mac, the average rate on the 30-year home loan fell to 6.69% from 6.71% last week, although it remains higher than last year’s average of 5.78%. The average rate for 15-year fixed-rate mortgages, favored by refinancers, increased to 6.10% …

US Mortgage Rate Falls to 6.69%, 2nd Straight Drop from 2023 High Read More »

North America’s finance executives foresee global economic downturn in the coming year, per Deloitte’s CFO Signals survey. The Q2 survey reveals a more negative outlook for 2024 compared to Q1. CFOs anticipate a decline in all five regions, with North America’s economy being the most pessimistic. Only 34% of respondents believe conditions will improve in …

CFOs Expect Worsening Economy in 1 Year: Deloitte Survey Read More »

OpenAI Upgrades Text-Generating AI, Introduces Function Calling and Lower Pricing. The latest releases, GPT-3.5-turbo and GPT-4, now support function calling, enabling developers to generate code for programming functions. This advancement enhances chatbot capabilities, facilitates database queries, and extracts structured data from text. OpenAI’s models have been fine-tuned to detect function requirements and respond with JSON …

OpenAI Launches Text Generation Upgrades with Lower Pricing Read More »

Nvidia joins $1T market cap club, 7th U.S. company to achieve milestone. The stock surged +3.9% on Tuesday, reaching a market cap of $1.01T. Apple, Microsoft, Amazon, Alphabet, and Meta were previously part of the elite group. Nvidia’s remarkable YTD surge of ~186% is driven by AI’s growth, outperforming the S&P 500’s 14% gain. Impressive …

Nvidia Surpasses $1T Market Cap, Fueled by AI’s Growth Read More »

Generative A.I. holds vast potential across 63 use cases, valued at $2.6T to $4.4T annually, reveals McKinsey Global Institute. Customer operations, marketing, sales, and software engineering stand out, accounting for 75% of the value. Automating customer interactions could reduce human contacts by 50%. Personalized messaging, brand advertising, and accelerated coding are among the transformative capabilities …

Generative AI’s $4.4 Trillion Boost: 4 Key Use Cases Drive 75% Value Read More »

Amazon Tests AI-Generated Product Review Summaries to Aid Shoppers. The shopping app now features AI-generated summaries of customer reviews, highlighting positive and negative aspects of products. Users are informed that the summaries are AI-generated. For instance, a listing for a children’s “Magic Mixies” toy highlights positive feedback on various aspects, but also mentions negative opinions …

Amazon Utilizes Generative A.I. for Product Review Summaries Read More »