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The business of searching the internet, dominated for over 20 years by Google, was on the cusp of disruption, with various announcements that chatbots based on artificial intelligence are to be incorporated into search engines. Microsoft unveiled a version of Bing with the technology that powers ChatGPT, made by OpenAI, a startup, in which Microsoft is a big investor. Finding itself on the back foot, Google launched Bard, its rival to ChatGPT. However, the company’s share price fell sharply when Bard gave the wrong answer to a question on space telescopes in a video promoting its abilities.
Game over?
It was a mixed week for Microsoft, which received another blow to its planned takeover of Activision Blizzard, a maker of video games. Britain’s competition regulator said the deal would be bad for consumers, and may not approve it. America’s Federal Trade Commission is already suing to block the acquisition.
Some of the companies in the embattled Adani Group reported a rise in profits. That prompted a rally in their share prices after a two-week rout sparked by a short-seller’s claim that the stock was being artificially inflated (Adani denies the allegation). Adani’s controlling shareholders attempted to soothe markets by repaying a $1.1bn loan ahead of schedule.
Disney announced a restructuring of its business in which 7,000 jobs will be cut, around 3% of its workforce. It is the company’s first big move since Bob Iger returned as chief executive in November. He said the changes would reshape Disney “around creativity” and make its streaming business profitable.
The great shake-out continued in the tech industry, as Zoom announced that it would cut 15% of its workforce, or 1,300 jobs. Eric Yuan, the chief executive, said he would take a cut to his salary and bonus….
2023-02-09 09:25:11 Business this week, February 9th 2023
Article from www.economist.com
This week, businesses across the world are taking steps towards a brighter 2021. Although the realities of a pandemic and the economic challenges that have come with it remain, many businesses and institutions have been able to make progress and stay afloat in spite of the many challenges. Here’s a look at some of the biggest business stories from February 9th, 2023.
In Silicon Valley, Apple is looking to bolster its VR and AR offerings with the acquisition of a small Seattle-based startup. The startup, Synaptic Taps, specializes in developing applications for virtual and augmented reality systems. As Apple continues to innovate, this acquisition could prove to be a strategic move for future product initiatives.
In the automotive industry, Tesla Inc. made another stunning announcement. Tesla announced this week plans to enter the Chinese auto manufacturing industry by opening two new factories in the country. This move is likely to significantly increase the company’s global presence and may even help it surpass the traditional automakers in China.
On the technology front, Microsoft announced the launch of a new chatbot platform. The platform, called Microsoft Tempo, is designed to help businesses streamline communication and make it easier to engage in conversations with customers. Microsoft Tempo also includes a semantic search engine, allowing users to search through conversations to find the information they need quickly.
Finally, Amazon made an announcement of its own this week, introducing Amazon Live. Live is an online shopping platform that allows customers to shop for items from local stores and chefs and have them delivered on the same day. This move is seen as an attempt to compete with delivery services like Instacart and Postmates, which have been gaining in popularity.
It’s been a busy week for businesses across the world, and there’s more to come in the weeks ahead. For now, these four stories stand as milestones in business innovation and development.