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Dimon says AI already eliminated 30 to 40 percent of jobs in some JPMorgan divisions

JPMorgan Chase has cut jobs by as much as 40 percent in some parts of the bank using artificial intelligence, CEO Jamie Dimon told analysts during the company’s second-quarter earnings call on Tuesday. But investors hoping the technology will dramatically improve profit margins are likely to be disappointed. Dimon said that in a competitive market, […] This story continues at The Next Web https://ift.tt/kTIyd31 Read full article: The Next Web
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India’s Udaan secures $160 million in new funding as it races to fix its balance sheet before an IPO

Indian B2B ecommerce platform Udaan has secured $160 million in a funding round that combines fresh equity from a new investor, additional debt, and the conversion of existing convertible bonds into equity, according to Bloomberg. Lightspeed Venture Partners and M&G Investments are participating in the round. The deal is designed to clean up Udaan’s balance […] This story continues at The Next Web https://ift.tt/8Yzks4I Read full article: The Next Web
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France thinks cheap power is its AI edge. Now it must decide who plugs in

France believes its cheap, low-carbon electricity is Europe’s overlooked advantage in AI. A debate has now opened over that power. Should it go to homegrown AI firms, or to the American giants building data centres on French soil? When the head of Europe’s biggest AI lab arrived at last month’s G7 working lunch on artificial […] This story continues at The Next Web https://ift.tt/pZKIhwo Read full article: The Next Web
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Home robots already walk. 1X’s new hands try to solve the part that actually matters

Humanoid robots learned to walk years ago. The thing still tripping them up is the hand. 1X has given its NEO home robot new hands, and they are the most interesting thing about it. A robot can stride across a stage and still be useless in a kitchen. Lifting a wet glass takes precision, fast […] This story continues at The Next Web https://ift.tt/CzUeJZi Read full article: The Next Web
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Lithuania’s Oxylabs raises $130M from Warburg Pincus at a $3.6bn valuation

Oxylabs has raised $130M from private equity firm Warburg Pincus. It is the company’s first outside investment since it launched in 2015. The deal values the Vilnius-based data infrastructure firm at around $3.6bn. Oxylabs announced the raise on Thursday. The figure is striking for a firm that bootstrapped its way to the top. Oxylabs says […] This story continues at The Next Web https://ift.tt/P5fzHgo Read full article: The Next Web
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The Pentagon calls this Chinese firm a military company. Its lidar runs US robotaxis anyway

A lidar maker the Pentagon brands a Chinese military company quietly wires up America’s robotaxis, trucks, and even an airport. Nvidia is one of its partners. Hesai makes many of the sensors self-driving machines use to see. The Shanghai firm also sits on a US Department of Defense blacklist of Chinese military companies, CNBC reports. […] This story continues at The Next Web https://ift.tt/YGg50vO Read full article: The Next Web
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Pegasus hack of the EU’s own spyware investigator sparks calls for urgent action

Pressure is mounting on the European Commission to act on spyware, after forensic evidence showed one of the EU’s own spyware investigators was hacked with Pegasus. Civil society groups issued a joint statement demanding the abuse be met with accountability, “not impunity”. Citizen Lab confirmed last week that Stelios Kouloglou, a Greek former MEP, was infected in October […] This story continues at The Next Web https://ift.tt/AonS5gT Read full article: The Next Web
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Australia’s child social media ban is failing, and the Senate just delayed the fix

Australian Prime Minister Anthony Albanese on Friday condemned senators who blocked amendments to the country’s world-first social media ban for children, warning that the delay would give tech platforms time to destroy documents that could be used as evidence against them. The conservative Liberal Party and the minor Greens party referred the legislation to an eight-week Senate […] This story continues at The Next Web https://ift.tt/LxyVBXg Read full article: The Next Web
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Tesla launches the six-seat Model Y Long Wheelbase in the US at 61,990 dollars

Tesla has launched the Model Y Long Wheelbase in the United States and Puerto Rico, a stretched, six-seat version of the world’s best-selling electric vehicle that adds a third row and marks the company’s most significant Model Y expansion since its redesign earlier this year. The Launch Series starts at 61,990 dollars and includes 12 […] This story continues at The Next Web https://ift.tt/YreT5pH Read full article: The Next Web
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Lucid Motors replaces its CFO and overhauls its entire leadership team as new CEO reshapes the company

Lucid Motors said on Thursday that its chief financial officer, Taoufiq Boussaid, will be leaving the company, the latest in a series of leadership changes under new CEO Silvio Napoli. Alexander De Bock, a veteran automotive finance executive who previously served as CFO of TI Automotive, will replace Boussaid after a transition period that will […] This story continues at The Next Web https://ift.tt/ivLHVb6 Read full article: The Next Web
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