September 23, 2023

Microsoft Enhances ChatGPT with Bing Search Results, Meta and Alibaba Prepare for Layoffs

In today’s tech updates, Microsoft introduces AI updates including Chat GPT with real-time Bing search results. Meta (formerly Facebook) and Alibaba plan layoffs, aiming for increased efficiency. The International Organisation of Securities Commissions (IOSCO) unveils global norms for regulating the crypto industry following the FTX exchange collapse. The convergence of AI and robotics is explored, highlighting their intertwined development. Note that the information provided is for informational purposes only and not investment advice.

Microsoft Corporation is rolling out AI updates, including the integration of live search results from Bing into ChatGPT, its popular chatbot developed in partnership with OpenAI. Previously limited to information up to 2021, ChatGPT will now have access to real-time Bing search results. Premium members already had access to Bing online results, and soon free users will have the same capability. Microsoft announced this during its annual Microsoft Build conference, aiming to close the AI gap with Google’s Alphabet Inc.

In pursuit of increased efficiency, Meta (formerly Facebook) and Alibaba are planning to initiate another wave of layoffs. Meta, led by founder Mark Zuckerberg, aims to streamline operations in 2023, resulting in job losses for thousands of employees. While Alibaba announced job losses in its cloud segment, the exact number of affected employees was not specified. The Washington Post reports that the new round of layoffs is expected to result in approximately 10,000 job losses. Employees involved in trust and safety roles within Meta’s business divisions will be impacted by these layoffs.

The International Organisation of Securities Commissions (IOSCO) released the first set of global norms for regulating the crypto industry. This move follows the collapse of the FTX exchange in 2022, which raised concerns about consumer protection. The crypto sector has been seeking a global approach to regulation as various governments establish their own standards. The IOSCO strategy takes lessons from the FTX exchange collapse and emphasizes the need for international cooperation in regulating crypto assets and digital markets. Anti-money laundering procedures have typically been the main compliance requirement for the industry.

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The convergence of artificial intelligence (AI) and robotics is explored, with a focus on enabling machines to make decisions based on information from engineering, electronics, and computing. The development of AI and robotics is becoming increasingly intertwined as they enhance each other’s capabilities. Cybernetics, a comprehensive science that combines multiple fields, plays a crucial role in advancing these autonomous systems.

The financial and crypto market information provided is for informational purposes only and should not be considered investment advice. It is advisable to conduct thorough research and consult financial experts before making any investment decisions. The decision to read the information provided is at the discretion of the individual and should not be interpreted as an express guarantee or undertaking on the part of Analytics Insight, absolving them from potential legal action or claims.