Financial News
Marketers Are Well Placed To Ride Out Any Job Disruptions Caused By AI
Artificial intelligence (AI) has occasionally gotten a bad rap in recent years. Futurologists like Elon Musk foresee a future where humans, due to becoming obsolete, will need to merge with machines in order to survive, while stories such as a Japanese company laying off over 30 employees to be replaced by robots have led to much hand-wringing about future job losses. Undoubtedly, the rise of the robots will deeply affect a wide variety of industries. However, in my opinion, AI will have huge benefits for the majority of sectors, especially for my own profession, digital advertising. While previous research from Oxford University has predicted that 33% of marketing associate professionals are at risk of being replaced, these are the lower-level jobs of the profession, and the scope of these jobs will definitely evolve as AI takes over some of these roles' responsibilities.
Mythic raises $8.8 million to put AI on a chip
Mythic is one of them, and it claims to be taking a different approach than the others. The Austin, Texas-based startup wants to move away from the cloud and a dependence on network connections by putting AI-on-a-chip inside smart devices like security cameras and health wearables. DFJ believes in the potential of this approach to AI and led an $8.8 million round that was announced today. The startup has developed both software and microchips to make its AI smarter and faster. Today, artificial neural networks need big server racks powered by graphics processing units (GPUs) to handle complex algorithms.
As Easy As ABC - Alphabet Is A Buy!
Just days later, we got our first hint Buffett himself was buying Apple (NASDAQ:AAPL)! Followed shortly after by that bombshell CNBC interview (here's the transcript), where he revealed an $18 billion plus Apple investment*, the vast majority bought by him in January and recent months (and the rest by Todd and Ted in early-2016). What better confirmation of my assertion that value investors - even the greatest of them all, at 86 years of age - would be wise to pose such a question to themselves? In fact, I wonder if it's the largest stock investment ever made by a single investor (again, in terms of cost)? Sure, Todd, Ted, and Charlie did provide some inspiration and feedback here, but we can be sure Buffett never buys anything until he makes his own mind up! Thoughts?] Was I confident I'd see Buffett talking up an Apple position just weeks later? And maybe I chose it specifically as the largest, most obvious and controversial value stock out there. Not to mention, the head fake I pulled: While I did summarize its attractive fundamentals and valuation, my post clearly wasn't intended to be a detailed thesis. But hey, it was still the right question at the right time, so I'll take the kudos!
Expert predicts date when 'sexier and funnier' humans will merge with AI machines
Humans and Artificial Intelligence (AI) will merge in an event known as'the singularity' by 2045, a Google executive has predicted. Super human cyborgs with nanobot implants in their brains will be funnier, sexier and smarter than humans today, according to futurist Ray Kurzweil, Futurism reports. The computer scientist believes we will see an AI pass what he calls a'valid' Turing test within the next 12 years. "By 2029, computers will have human-level intelligence," he said in an interview with SXSW. "That leads to computers having human intelligence, our putting them inside our brains, connecting them to the cloud, expanding who we are. It's here, in part, and it's going to accelerate."
Bosch and Nvidia partner to develop AI for self-driving cars
Amongst all the activity in autonomously driven vehicle joint ventures, new R&D facilities, strategic acquisitions (such as Mobileye being acquired by Intel) and booming startup fundings, two big players in the industry, NVIDIA and Bosch, are partnering to develop an AI self-driving car supercomputer. Bosch CEO Dr Volkmar Denner announced the partnership during his keynote address at Bosch Connected World, in Berlin. "Automated driving makes roads safer, and artificial intelligence is the key to making that happen," said Denner. "We are making the car smart. We are teaching the car how to maneuver through road traffic by itself."
Audi (AUDVF) on Annual Press Conference 2017 - Earnings Call Transcript
In the consumer report, we are number one once again and just like the Q7, in the consumer report it also occupies the first position as the best luxury SUV. And I think this power of the brand makes it possible for us to grow significantly. There are couple of models which have not even be launched yet in this market, models which we already know here, for instance the S4, the A5, and the entirely new A5 Sportback. They are now being launched in the United States. All new models for this market, and I assume that this year once again we are going to experience very solid growth in the United States. And the question so whether we spend more money for this? I can tell you we even spend less money in form of sales discounts because of the powerful brand and the relatively young product portfolio. So you would take the second part?
Evolv raises $18 million for body scanners that don't cause long lines at security
For a previous generation in the US, the only places where one might worry about the possibility of a mass casualty were "high-value targets," like airports and government offices, places that have body scanners and bag inspections, security guards and long lines to get in today. But attackers increasingly strike at public places like nightclubs, stadiums, clinics, malls, places of worship and schools. A startup called Evolv Technology Inc., has raised $18 million to help venues with even a limited budget use advanced technology rather than pat downs to detect and prevent mass casualties. Investors in Evolv's new round of funding included General Catalyst, Lux Capital, Gates Ventures, and Data Collective. The Waltham, Mass.-based startup has created both hardware and software for physical security.
Coupa Software's (CSOFT) CEO Rob Bernshteyn on Q4 2016 Results - Earnings Call Transcript
Welcome to the Coupa Software Fourth Quarter and FY '17 Earnings Conference Call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Miss Cynthia Hiponia. This is Cynthia Hiponia, Coupa Investor Relations and I'm pleased to welcome you to Coupa Software's fourth quarter earnings conference call. The primary purpose of today's call is to provide you with information regarding our FY '17 fourth quarter performance, in addition to our financial outlook for our FY '18 first quarter and full year. Just a reminder that our remarks today include forward-looking statements about our guidance and future results of operations, business strategies and plans, market size, products, competitive position and potential growth opportunities. Our actual results may be materially different. Forward-looking statements involve risks, uncertainties and assumptions that are described in our earnings release and our Form 10-Q filed with the SEC on December 9, 2016. These forward-looking statements are based on our beliefs and assumptions today and we disclaim any obligation to update any forward-looking statement. If this call is replayed after today, the information presented during this call may not contain current or accurate information. During the call, we'll also present both GAAP and non GAAP financial measures. A reconciliation of non-GAAP to GAAP measures is included in today's earnings release which you could find on our Investor Relations website. A link to the replay of this call will also be available there and if you prefer to access the replay via phone you can find that information in the earnings release as well. Unless otherwise stated, gross comparisons made on this call are against the same period of the prior year. On behalf of my colleagues at Coupa, I'd like to start by thanking our customers. We thank them for their enthusiasm and embracing our game-changing value as a service approach. Together, we're doing things never before done in our industry in terms of time to value, teamwork, agility and the attainment of measurable results. I'd also like to thank our fast growing list of global Partners, who work with us and our customers hand in hand with the relentless customer success orientation. And last but certainly not least, I'd like to thank all our investors for their continued support as we continue to develop our business.
Mobileye Caps Wild Ride On Stock Market With $15.3 Billion Acquisition
Less than three years after its blockbuster IPO, Israeli company Mobileye has ridden the wave of self-driving car enthusiasm to a timely acquisition. Intel said on Monday that it would shell out $15.3 billion for Mobileye, which makes assisted driving software, in the biggest acquisition ever of an Israeli technology company. Intel will pay $63.54 per share in cash, which represents a 36% premium over Friday's closing price of $46.88. Shares of Mobileye surged 30% to $61.48 in morning trading, while shares of Intel slid 2%. The deal marks a happy end to Mobileye's short stint on the public markets.
Intel races ahead in autonomous cars with $15.3 billion Mobileye buy
Intel has shifted its self-driving car efforts into high gear with a $15.3 billion deal to acquire computer vision and collision-avoidance company MobileEye. With the deal, announced Monday, Intel gets its hands on technology for machine learning, data analysis, localization and mapping for driver assistance systems and autonomous driving. Mobileye develops a full package of software and chips designed for use in autonomous cars. The deal is expected to close in nine months and calls for the combined global autonomous driving organization, which will consist of Mobileye and Intel's Automated Driving Group, to be headquartered in Israel and led by Amnon Shashua, Mobileye's co-Founder, chairman and CTO. The acquisition of MobileEye will be merged with Intel technologies like Xeon processors, FPGAs (field programmable gate arrays), 3D Xpoint memory and 5G modems in autonomous cars said Brian Krzanich, Intel's CEO.