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Bear market hits Wall Street as stocks, bonds, crypto dive

Boston Herald

Wall Street tumbled into what's called a bear market Monday after fears about a fragile economy and rising interest rates sent the S&P 500 more than 20% below its record set early this year. The index sank 3.9% in the first chance for investors to trade after getting the weekend to reflect on the stunning news that inflation is getting worse, not better. The Dow Jones Industrial Average was briefly down more than 1,000 points before finishing with a loss of 876. At the center of the sell-off again was the Federal Reserve, which is scrambling to get inflation under control. Its main method to do that is to raise interest rates in order to slow the economy, a blunt tool that risks a recession if used too aggressively.


Wall Street in bear market as stocks, bonds, crypto dive

Boston Herald

Wall Street tumbled into a bear market Monday after fears about a fragile economy and rising interest rates sent the S&P 500 more than 20% below its record set early this year. The index sank 3.9% in the first chance for investors to trade after getting the stunning news that inflation is getting worse, not better. The Dow Jones Industrial Average was briefly down more than 1,000 points before finishing with a loss of 876. With the Federal Reserve seemingly pinned into having to get more aggressive with interest rates, prices fell in a worldwide rout for everything from bonds to bitcoin, from New York to New Zealand. Some of the sharpest drops hit what had been big winners of the easier low-rate era, such as high-growth technology stocks and other former darlings of investors.


How Snowflake Survives a Downturn, According to Wall Street Analysts – Business Insider

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While data science and machine learning represents a substantial growth opportunity for Snowflake, it might not necessarily need to over-invest in …


6 Business Applications that Badly Need Better AI - DataScienceCentral.com

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The success and growth of AI is undeniable. Yet there are still basic tasks performing poorly, despite or because of automation. In some cases, you can blame reliance on outdated AI. In other cases, it is a result of corporate policies or multiple AI systems that compete against each other. The AI systems in question may be top notch, but they play against each other. It is similar to a Wall Street firm using two separate, competing black box trading systems, resulting in cannibalism.


The metaverse space race will be visible from Wall Street

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We are excited to bring Transform 2022 back in-person July 19 and virtually July 20 - 28. Join AI and data leaders for insightful talks and exciting networking opportunities. The past 12 months have taught us that the metaverse is regarded by many as the next major frontier for tech. The furor caused by Facebook's conspicuous rebranding to Meta has shown that the 21st century's biggest technological space race will be fought on the battlegrounds of Wall Street -- but the stock market has also helped to identify some of the forgotten players that will be integral to the mechanics of this brave new world. The race for the metaverse is a unique prospect for the 21st century, primarily because there is little understanding of what such a revolutionary mixed reality digital space will actually look like in practice -- or how businesses will be looking to capitalize on the new technology. So, who will succeed in profiting the most from the metaverse?


Funding obscured: The family office behind Elon Musk's $44 billion Twitter buyout

The Japan Times

The small family office that is managing the wealth of the world's richest person and is helping put together the largest-ever acquisition to be carried out by one person is shrouded in secrecy. On Monday, Musk clinched a deal to buy Twitter Inc. for $44 billion in a seminal moment for one of the world's most influential public forums. Musk -- who is also the chief executive of electric car maker Tesla Inc. and aerospace company SpaceX -- revealed in a regulatory filing last week that the social media company should reach out to its family office as a point of contact regarding his proposed acquisition. Yet little is known about the Austin, Texas-based family office that manages Musk's assets. The office is called Excession and the man who helped build it is Jared Birchall, a former Morgan Stanley banker who has advised Musk on his interactions with Wall Street for several years, according to regulatory filings and legal documents.


Can Artificial Intelligence create art

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Yes You Are -- Debating the Impact of machine-created art," Nautilus Science Magazine, December 4th, 2019. The following eight museums are host to most of the most acclaimed art pieces ever created in the world: The Hermitage, The Armoury Chamber, and The Tretyakov Gallery in Russia; The Louvre in France, The Sistine Chapel, The Metropolitan Museum of Art in New York City in the USA, The British Museum in the UK, and The Palace of Fine Arts in Mexico. Computers can create wonderful and certainly very appealing things. But by saying that they can create art, their definition or art and that of the Oxford Dictionary are completely different. Art is the use of imagination to express ideas or feelings. It is not only the final product but the path to get there.


Subaru is latest car maker to use what3words for in-car navigation

ZDNet

Subaru is the latest automaker to incorporate the technology. A recognizable location was chosen: the Washington Square Arch in Washington Square Park in lower Manhattan. The ZDNet journalist dressed conspicuously: a black hat, black sunglasses, and a puffy jacket. The reporter's contacts had no trouble finding him. And that's the way human encounters work. A simple phrase like, "under the arch," is easy for a person to figure out.


SMART Global fiscal Q2 results, outlook top expectations

ZDNet

Data center technology vendor SMART Global Holdings, owners of brands such as Penguin Computing and Smart Modular, this afternoon reported fiscal Q2 revenue and profit that both easily topped Wall Street's expectations, and an outlook that was higher as well. The company also said that its board of directors authorized share buybacks totaling $75 million, to be carried out "from time to time." The report sent SMART Global shares down slightly in late trading. CEO Mark Adams called the results "solid," adding that they "culminated a strong first half of the fiscal year, and demonstrating the strength of our growth and diversification strategy." "The results reflect our commitment to operational excellence by focusing on specialty solutions targeting growth markets such as AI, machine learning, data analytics, enterprise storage and edge/IoT. "Across all of our businesses, we are investing to capitalize on the growth opportunities in these market segments.


Aigent hiring Sales Development Representative in New York, New York, United States

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Aigent is seeking a an ambitious and determined Remote Sales Development Representative to join our sales team. Our Artificial Intelligence platform provides real-time, content-based guidance to call center agents, supporting call centers in the financial services, fintech, insurance, insurtech, and healthtech verticals. As an SDR, you will be responsible for identifying and creating new qualified sales opportunities for our sales team. The SDR will be the first point of contact for new business to develop relationships with prospects and work with key stakeholders to develop strategies and tactics in order to create demand to hit targets. This position will be on our US-based team and will report to the Director of Sales.