🌐 Browsers Leap into AI Era!

What’s in today’s Business Edge update?

We're zooming into the future with AI Assistants revolutionizing our browsing experience and a potentially game-changing reveal from Apple's WWDC 2023!

In other news, there's a leadership shakeup at Amazon, a sweet deal brewing for Prime members, and AI steering the course in Mixed Reality ventures for Meta and Apple. However, due to its challenging work culture, TSMC's US expansion is hitting a snag.

Let’s get started!

/Kristoffer

🌐 Big Tech Digest

Concise summaries of the most interesting tech news stories from Big Tech.

[1] A Quantum Leap for Browsers: AI Assistants Usher in a New Era

The AI revolution is shifting gears as it prepares to overhaul your web browsing experience. A key player leading this charge is SigmaOS, introducing an AI assistant called Airis to its browser, aiming to redefine productivity and convenience. Airis allows users to ask questions about a webpage through context-aware inquiries, offering responses that fit the exact context. In addition to pulling out relevant information, Airis promises to rewrite and simplify webpages, promising a streamlined browsing experience.

More:

• SigmaOS introduces a new AI assistant, Airis, that works across the browser, providing context-relevant answers to user queries.

• Airis leverages the power of OpenAI's GPT-4 to form complex prompts based on a user's question and webpage data.

• The AI assistant can rewrite and simplify text on any webpage, enhancing readability and comprehension.

• Other major players like Microsoft and Opera are also incorporating AI into their browsers, emphasizing the trend.

• Despite the promising developments, there are concerns about privacy and the potential costs associated with these AI features.

_{Tags: #AI, #Big tech, #SigmaOS, #Microsoft, #Opera, #GPT-4}

Read more about it at —> (read time: 10 minutes)

Insight:

This breakthrough has an industry-wide impact, potentially reshaping the web browsing landscape. As we see the integration of AI in browsers, there will likely be a ripple effect, urging other companies to incorporate similar functionalities. The development could also spark an AI-assisted browser war, with tech giants and smaller players vying for dominance. However, it's crucial to balance innovation with privacy considerations, as browsers inherently have access to enormous amounts of user data. The implementation of AI could be a game-changer, provided these concerns are adequately addressed.

[2] Amazon Leadership in Flux: Triad of Top Executives Take Their Leave

In a significant development this week, Amazon has experienced the departure of three key leaders amid reports of a mass employee walkout. This includes a North America customer fulfillment vice president, an AWS data center vice president, and the head of AWS in India and South Asia. The company's operational overhaul and employee disquiet signal potentially crucial changes in its management landscape.

More:

• Melissa Nick, Vice President of North America customer fulfillment, will leave Amazon on June 16.

• Chris Vonderhaar, Vice President of the Amazon Web Services data center, is also departing.

• Puneet Chandok, the Head of AWS in India and South Asia, reportedly resigned to join a rival firm.

• Vaishali Kasture is set to assume an interim role as the commercial business leader at AWS India & South Asia.

• Amidst these transitions, Amazon's shares were trading higher premarket on Friday.

_{Tags: #Amazon, #Leadership, #AWS, #Big tech}

Read more about it at —> (read time: 5 minutes)

Insight:

This news has an impact at both the company and industry-wide level. On the company front, the exit of such senior leaders could potentially disrupt Amazon's strategic roadmap and operational efficiency, especially given their respective roles in crucial divisions. From an industry perspective, these movements may signal a shift in leadership trends, possibly influenced by the changing work dynamics post the pandemic. As we navigate these developments, it's essential to consider how these changes could ripple across the tech industry, potentially affecting competitor strategies, talent attraction, and retention policies.

[3] Amazon Contemplates Sweetening Prime Deal with Low-Cost Mobile Service

According to Bloomberg, Amazon is reportedly discussing the prospect of providing low-cost or even free mobile service to its Prime subscribers in the U.S.. This proposal, aiming to solidify customer loyalty, has caused a flutter in the telecom sector with stocks of Verizon, AT&T, and T-Mobile tumbling. However, Amazon denies current plans to add wireless services to Prime.

More:

• Amazon is potentially exploring $10 per month or free mobile services for Prime members.

• The company has reportedly been in discussions with major carriers including Verizon, T-Mobile, Dish Network, and AT&T.

• This development follows stagnating Prime subscriptions post the increase of annual fees from $119 to $139.

• Though denying such plans, Amazon confirms always looking for ways to enhance Prime member benefits.

• Verizon and T-Mobile deny being in talks with Amazon about this new proposition.

_{Tags: #Amazon, #Prime, #Wireless, #Big tech}

Read more about it at —> (read time: 7 minutes)

Insight:

This piece of news holds industry-wide and market-level implications. For the industry, Amazon's potential entry into the wireless space could significantly disrupt telecom service providers, which is already reflected in the market reactions. The move could introduce a novel model of bundling telecom services with e-commerce memberships. However, we should also acknowledge the market dynamics. If Amazon proceeds, it will introduce intense competition for existing carriers. Furthermore, Amazon's massive customer base could provide the necessary scale to make this venture profitable. These developments highlight the necessity of constant innovation and adaptability in the ever-evolving tech industry.

[4] AI Steers the Course for Meta and Apple in Mixed Reality Venture

Artificial Intelligence is at the core of Meta and Apple's pursuits in the VR and AR headset landscape, shaping the future of mixed reality. Key advances in computer vision technology are enabling VR and AR devices to perceive their environment in real-time. While Meta's Quest headset incorporates this technology, Apple is expected to reveal its own hardware soon, with AI as the key ingredient.

More:

• AI and machine learning form the foundation of Meta's Quest VR products, according to the company's CTO Andrew Bosworth.

• These technologies enable advanced environmental scanning, real-time obstacle detection, and precision hand movement tracking, all on a mobile device.

• AI advancements have allowed Meta to optimize visual tracking in their latest VR headset, eliminating the need for large tracking rings.

• Meta's AI chief, Yann LeCun, envisions an AI assistant as an everyday companion capable of fighting disinformation with world knowledge.

• Apple's mixed reality headset, expected to be unveiled soon, will also heavily rely on AI for features like computer vision and spatial scanning.

_{Tags: #AI, #Big tech, #AR/VR, #Meta, #Apple}

Read more about it at —> (read time: 8 minutes)

Insight:

This development has industry-wide implications. The integration of AI into VR and AR technologies represents a leap forward for the tech industry, paving the way for a more immersive, intelligent, and interactive future in the realm of mixed reality. We see AI as the driver of this convergence of digital and analog reality. For tech entrepreneurs and investors, it's an exciting shift that opens new avenues for innovation and growth. It's also a clear sign of how essential AI has become in shaping the next generation of consumer technology. Lastly, for tech workers, this underlines the increasing importance of AI skills in a rapidly evolving job market.

[5] TSMC's 'Brutal' Work Culture Challenges Its US Expansion Plans

Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest semiconductor chip manufacturer, is facing resistance in the US due to its reportedly harsh work culture. The company's hiring plans for its new Arizona foundries, a cornerstone of the $52 billion CHIPS Act, are being hampered by unfavorable reviews from US employees and job applicants. Despite being one of the largest foreign investments in the US, TSMC's rigorous work standards and strenuous overseas training requirements seem to be repelling potential hires.

More:

• TSMC plans to hire 4,500 workers for its Arizona foundries, contributing to a projected 100,000 new jobs in the semiconductor industry by 2030.

• US semiconductor workers, used to more accommodating workplaces, are said to be put off by TSMC's tough work culture.

• TSMC's U.S. operations have a 27% approval rating on Glassdoor, considerably lower than Intel's 85%.

• TSMC's working conditions reportedly include long hours, weekend shifts, and a grueling work-life balance.

• The company has made efforts to improve its reputation among potential recruits by introducing new policies, increasing worldwide staff salaries, and attempting to bridge cultural gaps.

_{Tags: #TSMC, #Semiconductors, #CHIPSAct, #WorkCulture, #Arizona}

Read more about it at —> (read time: 12 minutes)

Insight:

This news has a significant impact at the company level and the broader industry. TSMC's reported work culture challenges in the US underscore the nuances involved when companies of different cultural backgrounds attempt to establish operations in new geographical markets.

While TSMC is trying to expand its footprint in the US semiconductor market, it must adapt to the local workforce's expectations for a balanced work culture. This situation emphasizes company culture's crucial role in attracting and retaining talent, particularly in highly competitive tech sectors.

At the industry level, TSMC's hiring difficulties could delay the full operationalization of the new foundries, potentially impacting the US's plan to restore the domestic semiconductor industry under the CHIPS Act. We should watch for potential shifts in TSMC's HR strategies and any resulting changes in its hiring success rates.

⚡️Startup bites

Brief news summaries from the world of startups that provide quick and easy-to-consume information.

Apple's WWDC 2023 is expected to reveal new software updates across its platforms and possibly unveil its highly anticipated mixed-reality headset. The rumored headset, utilizing a new operating system, xrOS, marks Apple's entry into augmented and virtual reality. Meanwhile, iOS 17 may feature a smart-home display mode and new accessibility features. Anticipated updates for iPadOS 17 include the introduction of the Health app and improvements to the Stage Manager multitasking feature. (link)

Instagram is testing a feature that allows users to have greater control over the content they see by selecting an "Interested" button on recommended posts. It's also developing transparency tools for creators to understand reach limitations of their content. Instagram Head, Adam Mosseri, addressed concerns about shadowbanning, indicating that the platform's interest lies in fostering growth and engagement rather than suppressing content. He also provided insights into the app's content ranking mechanisms. (link)

Apple's Goldman Sachs savings account, launched in April, is facing issues as some users struggle to withdraw their funds, with delays lasting several weeks, according to the Wall Street Journal. Despite this, Goldman Sachs has seen an overwhelmingly positive response to the savings account. This move is part of Apple's broader strategy to keep users within its ecosystem, offering in-house financial services like an interest-free buy now, pay later program. (link)

European streaming platform Viaplay replaced its CEO, Anders Jensen, with the former head of MTG, Jorgen Madsen Lindemann, amidst a profit warning that led to a 50% drop in shares. The company cited lower streaming subscription demand, a decrease in Nordic TV and radio advertising, and a slowdown in cost-cutting as reasons for expecting an operating loss of $37mn-$65mn. (link)