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Bill Gates Reveals Best Advice He's Received: It Has Nothing To Do With Money

International Business Times

ChatGPT may have access to limitless information, but it can still learn a thing or two from a billionaire like Bill Gates. In an interview with UK Prime Minister Rishi Sunak in February, Gates answered questions generated by an AI chatbot, similar to ChatGPT. The chatbot asked about the best advice they've ever received and how it has influenced their lives. The tech mogul cited "great advice" from his longtime friend and fellow billionaire, Warren Buffett, on the importance of friendship. "Warren Buffett talked about [how], in the end, it's how friends really think of you and how strong those friendships are [that matters]," Gates shared.


AI, Machine Learning Help Investors Gain 'edge' While Investing

#artificialintelligence

When we are investing in the market, we are all looking for an'edge'. As the markets are a zero-sum game, an edge is an unfair advantage that we believe will land us on the right side of a decision. This edge (whether real or perceived) can be your analysis of stocks, trusting the right expert, some intuition, technical analysis or using technology. The edge helps you be right a little more than 50 percent of the time, like a loaded coin in a coin toss that shows heads 51 out of 100 times. The only constant thing is that the edge is dynamic.


Kevin Clayton, CEO Clayton Homes, Explains Why Replacing Sales Professionals with Automation Makes Sense

#artificialintelligence

"Our greatest assets are our team members, and we are committed to continually improving their lives. Whether investing in leadership initiatives, or improving our facilities, we believe the only way you can create a world-class customer experience is by first creating a world-class team member experience." Preface: To tee up the new item produced by Clayton Homes that follows below, some background is useful. First, some related background, then the new items from Clayton. An independent of Clayton Homes that stopped selling their HUD Code manufactured homes some time ago reminded MHProNews about claims that after Warren Buffett bought their brand, they tried cutting the pay of retail general managers.


Bill Gates leaves Microsoft board to focus on philanthropy

The Japan Times

SAN FRANCISCO/NEW YORK – Bill Gates is stepping down from the board of Microsoft Corp., the company he co-founded in 1975 and built into the world's largest software maker, to devote more time to philanthropy. Gates, 64, has been scaling back his involvement in the company for more than a decade. Most recently he had been serving as an adviser to current Chief Executive Officer Satya Nadella on technology areas including productivity, health software and artificial intelligence, and he will continue to do so."Microsoft "I feel more optimistic than ever about the progress the company is making and how it can continue to benefit the world." Gates hasn't been active in a day-to-day role since 2008, Microsoft said in a statement.


How AI Will Invade Every Corner of Wall Street

#artificialintelligence

It was AI versus Warren Buffett. The artificial intelligence was unleashed by Winton, the London hedge fund, to test an old principle of the Berkshire Hathaway Inc. chairman with a view to trading on it: that major acquisitions usually hurt the buyers' shareholders. Researchers collected and analyzed data on almost 9,000 U.S. deals back to the 1960s. Winton says Buffett's thesis doesn't hold up -- big acquisitions don't inherently destroy value. "It prevented us from trading on a false signal and potentially losing money," said Daniel Mitchell, who runs a team of data scientists at the $30 billion hedge fund.


How AI Will Invade Every Corner of Wall Street

#artificialintelligence

It was AI versus Warren Buffett. The artificial intelligence was unleashed by Winton, the London hedge fund, to test an old principle of the Berkshire Hathaway Inc. chairman with a view to trading on it: that major acquisitions usually hurt the buyers' shareholders. Researchers collected and analyzed data on almost 9,000 U.S. deals back to the 1960s. Winton says Buffett's thesis doesn't hold up -- big acquisitions don't inherently destroy value. "It prevented us from trading on a false signal and potentially losing money," said Daniel Mitchell, who runs a team of data scientists at the $30 billion hedge fund.


How AI is Changing the Way We Invest

#artificialintelligence

Artificial intelligence is rapidly evolving. Unprecedented advances in machine and deep learning have even called for some concern. Elon Musk, futurist billionaire and CEO of SpaceX and Tesla Motors, has dubbed it mankind's "greatest existential threat." Indeed, driverless cars, a technology Musk himself is developing, would displace up to 15 percent of the world's workers – a figure the Tesla CEO provided himself. The world of finance is by no means immune to the disruption AI will cause. In fact, artificial intelligence is already changing the way we invest.


Apple's W.W.D.C., and Energy Ministers Meeting: The Week Ahead

NYT > Economy

On Monday, Apple will show off its latest software and hardware, including Macs and iPads, at its annual conference for developers. The most anticipated item is a new voice-controlled speaker that would compete with the Amazon Echo and Google Home devices. Fans of Warren E. Buffett -- at least those with deep pockets -- have another chance to buy the billionaire lunch. An auction for a meal with Mr. Buffett, the chief executive of Berkshire Hathaway, at Smith & Wollensky in New York City began Sunday evening and runs through Friday, with bids starting at $25,000. The entire bid will support Glide, a nonprofit group that runs antipoverty programs in San Francisco.


Buffett has an interesting theory about why self-driving cars will hurt the insurance industry

#artificialintelligence

The self-driving car business could become a major threat to insurance companies when the technology hits the market, billionaire investor Warren Buffett told CNBC's "Squawk Box" on Monday. If autonomous vehicles prove to be safer than regular cars, insurance costs will plummet, and by the time roads are filled with self-driving cars, insurers like Geico will have taken a serious hit, the Berkshire Hathaway chief said. Berkshire Hathaway Homestate Companies offers commercial auto insurance. "If they're safer, there's less in the way of insurance costs, [and] that brings down premium buy significantly," the investment guru said. But disrupting an entire industry takes time, and the market will embrace self-driving cars slowly despite the immense amount of capital that tech companies are spending on their development, Buffett said.


Buffett says IBM's Watson will have greatest value when it replaces human labor

#artificialintelligence

Billionaire investor Warren Buffett said Monday that IBM's artificial intelligence unit Watson should one day take the place of humans. "I would think the biggest value will come in when it actually replaces human labor, and machines don't come round annually and ask for higher wages, and they don't need health care, and maybe a little maintenance," Buffett said on CNBC's "Squawk Box." "It should replace people in a big way, unless some other products do the same thing," he said, noting Watson's potential for reading X-rays faster and better than humans. Buffett told CNBC last week he owned about 81 million shares of IBM at the end of 2016 and sold off about a third of that stake in the first and second quarters of 2017. "Watson is a pretty amazing invention," Buffett said. "I'm sure the revenue is growing very significantly but from a very small base."