🤖 AI Market Boom: $105.3B by 2027

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🤖 AI

The latest on AI from leaders like OpenAI, Microsoft, Google, and more.

Generative AI Market Set to Skyrocket to $105.3B by 2027 (4-minute read)

The Global Generative AI Market is projected to grow from $9.8 billion in 2021 to $105.3 billion by 2027 at a CAGR of 8.11%, driven by increased use in advertising, media presentations, and more. However, the market growth may be restrained by high implementation costs and the need for a skilled workforce, as the technology is still in its early stages.

EU Pushes for Labeling of AI-Generated Content by Big Tech (3-minute read)

The European Commission is urging tech giants like Google, Facebook, and TikTok to label AI-generated content, amid rising concerns about disinformation online. Firms may face heavy fines if they fail to identify and clearly label AI-manipulated content or 'deep fakes' by August 25 under the Digital Services Act (DSA). Meanwhile, the forthcoming Artificial Intelligence Act, potentially enforced by 2025, will require all companies creating AI content to follow a similar rule.

Insight: This regulatory push signals an industry-wide impact as it challenges tech companies to maintain transparency and accountability in the era of AI. We foresee these measures accelerating the development of AI-content detection and safeguard technologies.

Walmart Invests in Generative AI for Enhanced Self-Service (3-minute read)

Walmart is utilizing generative AI to make its digital tools more efficient, enhancing self-service capabilities as a part of its operational strategy. This move parallels industry trends, with companies like Instacart integrating AI for self-service solutions, and Morton Williams adopting smart cart technology. Despite some challenges such as increased shoplifting, self-service is seen as key to customer retention in the grocery sector.

Insight: This trend towards AI-driven self-service in the grocery industry presents a market-wide impact. We anticipate tech entrepreneurs and investors will be keen to explore these opportunities, with significant potential for innovation and profitable disruptions.

Foxconn Anticipates Doubling of AI Server Business Amid Generative AI Boom (3-minute read)

Taiwanese tech giant Foxconn forecasts a significant surge in its artificial intelligence (AI) server business, potentially witnessing triple-digit growth in the year's second half. Crediting this uptick to the rise of generative AI systems, Chairman Young Liu also mentioned the company's diversification efforts into areas like electric vehicles, semiconductors, and servers.

Insight: This industry-wide impact indicates a growing demand for AI servers in the technology sector. We anticipate this will propel further innovation and competition among tech manufacturers and AI solution providers.

🥽 AR/VR

News on Oculus, Apple Vision, Metaverse, and the growing AR/VR market.

Apple Introduces $3,500 Vision Pro VR Headset (4-minute read)

Apple unveiled its Vision Pro VR headset, priced at $3,499, and set to launch in the US in early 2024. The device features eye and hand movement navigation, voice input, and ultra-high resolution, with support for Apple TV+, Apple Arcade games, and other services.

Insight: This high-priced headset could have an industry-wide impact if it pushes VR into the mainstream, but it may remain a niche product due to its cost. Apple's brand power and innovation might be key factors in its success.

🛡️Cybersecurity

Bite-sized news from Cybersecurity leaders like CrowdStrike, Okta, Cisco, McAfee, and more.

CrowdStrike Anticipates Slowing Growth Amid Competitive Pressures (3-minute read)

Despite a burgeoning customer base and budding profits, CrowdStrike predicts a slowdown in its annual growth rate, with revenues forecasted to increase by around 35% this year, the slowest ever. This trend mirrors other companies like Okta, raising concerns about increasing competition, notably from Microsoft in the cloud cybersecurity space.

Insight: This development signifies a potential shift in the cybersecurity market, with established giants such as Microsoft gaining ground. We anticipate heightened competition leading to innovative solutions and strategies among cybersecurity firms.

🎮 Gaming

The largest entertainment industry in the world is Gaming. Here we keep check of critical actors like Sony, Nintendo, EA, Microsoft, Take-two, and more.

Epic Games Announces Boost in Fortnite Creator Earnings and Updates Unreal Editor (2-minute read)

Epic Games reveals significant earnings growth for Fortnite creators under the revamped Creator Economy 2.0 initiative. March's engagement payouts reflected a 5.2 times median increase for the top 1000 island creators. Furthermore, Epic anticipates a 1.45 times higher payout in April due to a revised payout formula.

The Legend of Zelda: Tears of the Kingdom Breaks Nintendo's Sales Record (1-minute read)

The Legend of Zelda: Tears of the Kingdom sets the record as Nintendo's fastest-selling game, moving over 10 million copies within three days of release.

💳 Fintech

Money is now digital, and here, we track the crucial players in the Fintech space.

Adyen Launches Payout Services for Faster Client Cash Flow (1-minute read)

Global fintech platform Adyen has introduced Payout Services, allowing customers to receive acquired funds more quickly through their preferred methods. The service aims to improve the cash flow for Adyen's clients and their affiliated users or partners.

Wise Platform Partners with GMO Aozora Net Bank in Japan (1-minute read)

Wise Platform has signed its first Japanese partnership with GMO Aozora Net Bank, allowing the bank's customers to send international payments in eight currencies to 28 countries and regions.

CFPB Warns Against Keeping Money in Payment Apps Like Venmo, and PayPal (3-minute read)

The Consumer Financial Protection Bureau (CFPB) has cautioned against holding funds in payment apps such as Venmo, PayPal, and CashApp, citing a lack of federal deposit insurance and increased financial uncertainty for consumers.

🖥️ Hardware and Semiconductors

Hardware and chips are everywhere. This section follows companies like Nvidia, TSMC, Apple, HP, and more.

Apple Expands Product Line at WWDC 2023: Larger MacBook Air, M2 Ultra Chip, Journal App, and More (4-minute read)

During its Worldwide Developers Conference, Apple has revealed a 15-inch MacBook Air, performance upgrades for Mac Studio and Mac Pro with M2 Ultra chip, and a mental health-focused app, Journal. Other highlights include a StandBy feature for iOS 17, interactive widgets for iPadOS 17, and FaceTime for Apple TV.

🚖 On-demand Services and Sharing Economy

Here we track the news from Airbnb, Uber, Lyft, and other key players in the space.

Uber Trials Features for Business Travelers' Comfort (1-minute read)

Uber is testing new features to enhance business travelers' experience, including exclusive promotions under the Uber One membership program and the 'Uber Business Comfort' ride type, offering priority pickup and personalized support.

Insight: These initiatives targeting business travelers could help Uber differentiate itself in the competitive ride-hailing market and attract a valuable customer segment that prioritizes comfort and convenience.

Airbnb Sues New York City Over Short-Term Rental Restrictions (4-minute read)

Airbnb has filed a lawsuit against New York City, claiming the city's Local Law 18, which imposes strict regulations on short-term rentals, is oppressive and functions as a de facto ban. The law requires hosts to register with the mayor's office and comply with various zoning and maintenance codes.

Insight: Airbnb's legal battle with New York City highlights the ongoing conflict between the platform and local governments seeking to protect housing stock and community interests. The outcome of this case could influence short-term rental regulations in other cities.

☁️ SaaS, Software & Cloud

Software is eating the world. Here we keep check of key players in SaaS, Software and Cloud service providers.

GitLab Stock Skyrockets on Back of Strong Q1 Results and Positive Forecast (5-minute read)

Following robust Q1 results that exceeded expectations, and an optimistic forecast for the future, GitLab Inc. saw its stock soar in after-hours trading. The DevOps company reported a revenue increase of 45% YoY, reaching $126.9M, and anticipates Q2 revenue between $129M and $130M. GitLab's full-year sales forecast was also raised from the previous $529M-$533M range to $541M-$543M. The firm recently expanded its partnership with Google Cloud to enhance its AI-powered features.

Zoom Boosts Productivity with AI-Powered Features (5-minute read)

Zoom Video Communications has rolled out key AI-powered features for its smart assistant, Zoom IQ. These include meeting summary and chat compose capabilities, intended to enhance collaboration and productivity. Leveraging a federated approach, Zoom integrates its own language models, those from OpenAI and Anthropic, as well as customer's models. More features, such as AI-powered email drafting and whiteboard idea drafting and synthesis, are set to be released soon.

T. Rowe Price Marks Down Canva Stake by 67.6% (3-minute read)

T. Rowe Price has marked down its stake in design platform Canva by 67.6%, following a similar 36% markdown by venture firm Blackbird. Canva was valued at $40 billion in 2021, but these markdowns suggest a valuation closer to $13 billion.

🔍 Search & browser

The window to the Internet is search and the browser. Here we follows news from Google, Bing, DuckDuckGo, Opera and more.

Google's AI-Powered Search Generative Experience Criticized for Slow Speed (4-minute read)

Google's experimental Search Generative Experience (SGE) feature, which uses AI to summarize search results, has been criticized for its slow loading times and cluttered responses. SGE is currently only available to users who sign up for Google's Search Labs waitlist.

Insight: While Google's SGE aims to make search queries more efficient and conversational, its slow speed and cluttered interface could deter users from adopting the feature, highlighting the need for further optimization before wider implementation.

Microsoft Bing Boosts Ad Delivery Speed with NVIDIA Triton (2-minute read)

Microsoft Bing's ad service has achieved 7x throughput at reduced cost by using NVIDIA Triton Inference Server on NVIDIA A100 Tensor Core GPUs. The upgrade from NVIDIA T4 to A100 GPUs enabled the team to use the Multi-Instance GPU (MIG) feature, increasing throughput per GPU with inference response in 10ms.

Insight: This development has an industry-wide impact, as it demonstrates the potential of AI-powered ad delivery systems to improve efficiency and reduce costs for advertisers and platforms.

Google Removes 34 Malicious Chrome Extensions with 75 Million Installs (3-minute read)

Google has removed 34 malicious extensions from its Chrome Web Store, which had been downloaded over 75 million times. The extensions injected ads into pages and exfiltrated sensitive data from compromised endpoints, with some popular ones including Autoskip for YouTube, Soundboost, and Crystal Ad block.

💬 Social media

Everyhting is social. Here we curate the most important news stories from leaders like Facebook, Instagram, TikTok, Snapchat, Twitter and more.

EU Urges Tech Giants to Label AI-Generated Content and Fortify Safeguards (2-minute read)

EU Vice President, Vera Jourova, urges companies like TikTok, Meta, and Microsoft to warn users about AI-generated content and implement necessary safeguards against its misuse. This follows the voluntary code the EU sets, which promotes transparency and cooperation with fact-checkers to curb disinformation.

Insight: As we evaluate the global impact of this news, we recognize the heightened urgency for tech firms to be proactive about AI-based disinformation. Transparency and user protection will maintain user trust and legislative compliance.

Twitter US Ad Sales Plunge Amid Increasing Controversies (6-minute read)

Twitter's US ad revenue declined by 59% to $88 million between April 1 and early May, continuing to fall short of sales projections. The slump is attributed to controversies around hate speech and inappropriate content, including ads featuring gambling and marijuana products. The platform's new CEO, Linda Yaccarino, is set to face these issues head-on amidst claims of increased advertiser pressure.

📺 Streaming Services

The latest from the leading streaming services like Netflix, Disney+, Spotify, and more.

Disney Plus and Hulu to Shed More Content Amid Financial Concerns (4-minute read)

The Walt Disney Company plans to remove more movies and TV shows from its streaming services, Disney Plus and Hulu, as part of ongoing financial review and cost-saving measures, despite the potential $1.5 billion impairment charge in Q3 2023.

Insight: This decision carries industry-wide implications, showing how streaming giants struggle with cost management. We can expect a shift in strategy from similar platforms to avoid such drastic content reductions.

Disney Partners with Apple on New Vision Pro Headset (3-minute read)

Disney CEO Bob Iger announced a partnership with Apple to feature Disney+ content on the newly unveiled Vision Pro mixed-reality headset. This partnership is a significant step for Disney after recent job and budget cuts under Iger's leadership.

Insight: This strategic partnership on a cutting-edge product signals a company-level impact, demonstrating Disney's commitment to technological innovation. We may observe an industry-wide trend of content producers aligning with tech giants for enhanced content delivery.

Max, the Successor to HBO Max, Gains Traction Despite Launch Hiccups (2-minute read)

Despite initial issues, 70% of HBO Max and Discovery Plus subscribers transitioned to the new Max streaming service within its first week. Max offers three subscription tiers, each varying in ad intensity.

Spotify Eliminates 200 Podcast Division Roles (3-minute read)

Spotify is cutting around 200 roles from its podcasting division in a "strategic realignment," merging acquired studios Parcast and Gimlet into a single Spotify Studios operation. The company plans to expand analytics capabilities and advertising offerings for creators, while continuing to produce original content.

Insight: This move indicates Spotify's focus on maximizing profitability in the podcasting ecosystem and could have market impact as the company adapts to changing industry dynamics and audience preferences.