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Sumitomo Mitsui Trust mulls up to 380 billion in digital investment
Manatomo Yoneyama, president of Sumitomo Mitsui Trust Bank, speaks during an interview at the bank's headquarters in Tokyo's Chiyoda Ward on May 22. | JIJI Sumitomo Mitsui Trust Bank plans to invest ¥360 billion ($2.2 billion) to ¥380 billion in digital technologies over three years, President Manatomo Yoneyama said in an interview. The bank also plans to spend ¥30 billion to optimize its operations. It will utilize artificial intelligence technology for office tasks and reposition some 900 employees to client-facing roles. The bank made an AI agent, which can handle people's tasks, "100% internally," said Yoneyama, who took the helm of Sumitomo Mitsui Trust in April after working on digital innovation at the bank. He said the bank is "sensing the advantage" of the in-house development, including smooth utilization of data. It aims to sell the AI agent in fiscal 2028.
OpenAI makes move to go public one week after rival Anthropic
OpenAI, founded in San Francisco in 2015 as a nonprofit research lab, burst into the mainstream with the launch of ChatGPT in November 2022. It has since restructured as a for-profit corporation. SAN FRANCISCO, UNITED STATES - ChatGPT-maker OpenAI on Monday took the first step toward going public, one week after archrival Anthropic announced its own filing, as both companies look to raise the massive sums needed to expand. In a social media post, the Sam Altman-led company said it had confidentially submitted an S-1 registration statement to U.S. securities regulators but had "not decided on timing yet" for any potential debut. OpenAI's move follows a confidential filing by Anthropic, the maker of the Claude chatbot, which announced last Monday that it had taken the same step. In a time of both misinformation and too much information, quality journalism is more crucial than ever.
South Korea names first female prime minister in decades to lead AI push
South Korean President Lee Jae Myung is placing his hopes on former Naver Chief Executive Han Seong Sook to help better use the nation's tech expertise for future growth and ensure its benefits spread more widely through the economy. Han will become the country's second female premier, assuming her appointment is approved by the national assembly, elevating a former technology executive to one of the nation's highest political posts. The tapping of Han underscores Lee's commitment to shoring up future growth of the domestic economy and the need to leverage a wider range of industries. During her five years at the helm of Naver, a company sometimes called the Google of Korea, Han helped broaden its revenue streams beyond its search engine model to also draw on e-commerce, fintech and content generation. In a time of both misinformation and too much information, quality journalism is more crucial than ever. By subscribing, you can help us get the story right.
Humanoid robot cleans first US apartment
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War or peace? Colombians choose destiny in high-stakes vote
Bogota - Colombians vote Sunday in a presidential election that will determine the conflict-ridden nation's response to spiraling violence, either staying left and opting for dialogue or tacking right towards all-out war. The constitution forbids a second term for the country's first-ever leftist President Gustavo Petro, whose "total peace" strategy has failed to negotiate an end to conflict with armed groups. Despite his absence from the ballot, "the campaign revolves around Petro," said Yann Basset, political science professor at Bogota's University of Rosario. In a time of both misinformation and too much information, quality journalism is more crucial than ever. By subscribing, you can help us get the story right. With your current subscription plan you can comment on stories.