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Julius Baer Faces Temporary IT Outage, Confirms Swiss Bank Amidst Bloomberg Report

In response to a story from Bloomberg, Julius Baer BAER.S, the Swiss bank, it revealed a brief outage of its IT systems on February 16 due to a techni

In response to a story from Bloomberg, Julius Baer BAER.S, the Swiss bank, it revealed a brief outage of its IT systems on February 16 due to a technical connectivity problem. Notwithstanding the hiccup, the bank quickly brought back full service. The episode happened during a difficult time for Julius Baer, which included losses from its exposure to the defunct real estate business Signa and a management change. On Friday, the banks shares dropped 1.6% after word of the disruption. Read More..

B2B Tech News | 1 months ago      

Honor Unveils Magic 6 Pro Smartphone with Experimental EyeTracking AI Function

With the help of an experimental eyetracking AI feature, customers of the new Magic 6 Pro smartphone from Chinese tech giant Honour can operate their

With the help of an experimental eyetracking AI feature, customers of the new Magic 6 Pro smartphone from Chinese tech giant Honour can operate their cars remotely by just glancing at the screen. The smartphone was presented internationally. The instrument, now accessible in China, is intended for global integration. Honour, once owned by Huawei Technologies and a part of Shenzhen Zhixin New Information Technology Co., introduced its phone line only in China. Still, it now hopes to be present around the world. Tech companies are using generative AI to improve their product offers before the Mobile World Congress to revive the industry. Honour also intends to compete with Apple and Oppo in the Chinese smartphone market by including the LlaMA 2 big language model in its products. The business also unveiled the MagicBook Pro 16 laptop, which features AI capabilities that facilitate seamless application transfer between devices. CEO George Zhao emphasized the importance of collaborative sy Read More..

B2B Tech News | 1 months ago      

Zambia Struggles with $7 Billion Debt Burden Despite Previous Deals

Despite an earlier agreement with bilateral lenders handling over $6 billion in debt, Zambia still needs to pay down about $7 billion. The nations sea

Despite an earlier agreement with bilateral lenders handling over $6 billion in debt, Zambia still needs to pay down about $7 billion. The nations search for relief is made more difficult by the outstanding debt that commercial banks and bondholders owe. Despite Zambias best efforts, official creditors, led by France, China, and South Africa, rejected a plan to restructure $3 billion in debt with bondholders last October. This disparity highlights how difficult it will be for Zambia to escape its financial predicament. China has maintained its position as Africas top commercial partner for the past 15 years, with trade expected to reach $282 billion in 2023. Exhibitions such as the Made in Africa expo highlight how African nations, like Cameroon, prioritize industrialization initiatives to lessen their dependency on selling raw materials. Read More..

B2B Tech News | 2 months ago      

Nvidia Identifies Huawei as Top Competitor in AI Chip Market, SEC Filing Reveals

In a filing with the Securities and Exchange Commission, Nvidia has named Huawei a top rival in several areas, including artificial intelligence proce

In a filing with the Securities and Exchange Commission, Nvidia has named Huawei a top rival in several areas, including artificial intelligence processors, for the first time. The Californiabased business emphasised Huaweis availability as a supplier of AIspecific hardware, such as GPUs, CPUs, and networking devices. The 910B chip from Huaweis Ascend series is positioned as a competitor to Nvidias A100 chip. Given that the AI chip industry in China is projected to be around $7 billion, Huaweis developments provide a formidable obstacle. Nvidia included large cloud computing companies like Amazon and Microsoft as rivals, in addition to Intel, AMD, Broadcom, and Qualcomm. Strong demand for AI drove Nvidias revenue prediction above consensus forecasts. This resulted in a 14% increase in the companys shares. Read More..

B2B Tech News | 2 months ago      

Lenovo Group Beats Expectations with Revenue Rebound in Latest Earnings Report

The biggest PC manufacturer in the world, Lenovo Group, announced betterthanexpected profitability and a 3% increase in revenue for the October–Dece

The biggest PC manufacturer in the world, Lenovo Group, announced betterthanexpected profitability and a 3% increase in revenue for the October–December quarter, capping five quarters of declines. The rebound comes after a postCOVID19 delay and vendor inventory clearing. According to Gartner, Lenovos global PC market share reached 25.6% despite a 10% decline in revenue in China. Profit decreased by 23% but above market estimates, resulting in a 3.27% increase in the companys share price. Lenovo hopes to profit from the anticipated increase in AI PC sales to 167 million units by 2027 by placing its bets on the growing need for AI PCs and servers. Despite Chinas restriction on selling highend AI chips, the company remains hopeful about a steady supply of chips for its nonChinese operations. Read More..

B2B Tech News | 2 months ago      

Grab Holdings Achieves First Quarterly Profit, Signaling Milestone for Company

The ridesharing and food delivery startup Grab Holdings achieved a noteworthy milestone when it revealed its first quarterly profit. Even though Grabs

The ridesharing and food delivery startup Grab Holdings achieved a noteworthy milestone when it revealed its first quarterly profit. Even though Grabs profits were favourable, its shares declined due to its poor year sales projection, which doubted the companys development trajectory. Beyond 2024, the firm hopes to increase revenue while concentrating on developing premium transportation and delivery service options. In addition, Grab declared a $500 million share repurchase programme and predicted adjusted core earnings for the entire year to surpass analyst projections. Even though sales in the fourth quarter exceeded forecasts, an accrual reversal in accounting helped Grabs net profits. The companys accomplishments include the third quarter of the fiscal years first adjusted core profit, made possible by deliberate costcutting efforts over the previous two years. Read More..

B2B Tech News | 2 months ago      

LTIMindtree Partners with Eurolife FFH and Fairfax Digital Services to Establish Gen AI and Digital Hub in Athens

A Memorandum of Understanding MoU has been signed by LTIMindtree, Eurolife FFH, and Fairfax Digital Services to develop a groundbreaking Gen AI and Di

A Memorandum of Understanding MoU has been signed by LTIMindtree, Eurolife FFH, and Fairfax Digital Services to develop a groundbreaking Gen AI and Digital Hub in Athens, Greece, along with specialised facilities in Mumbai, India, and Poland. The presence of Greek Prime Minister Kyriakos Mitsotakis, Sudhir Chaturvedi, Alexandros Sarrigeorgiou, and Sanjay Tugnait ratified this historic agreement. The relationship aligns with Indias "Anusandhan" plan, which promotes research and innovation. Eurolife FFH will lead the Gen AI and Digital Hub in Athens by utilising the knowledge and experience of LTIMindtree from Mumbai and Poland. This programme aims to provide innovative solutions that will improve customer experience and operational efficiency across many sectors. While Sudhir Chaturvedi emphasised the strategic roadmap for transformational development, Alexandros Sarrigeorgiou emphasised the goal of innovation in the insurance industry. Sanjay Tugnait underscored the partnerships global Read More..

B2B Tech News | 2 months ago      

Google Pauses AI Tool for Image Generation Amid Historical Inaccuracy Concerns

Due to discrepancies in some historical representations produced by the model, Google has chosen to suspend its AI tool for taking photos of individua

Due to discrepancies in some historical representations produced by the model, Google has chosen to suspend its AI tool for taking photos of individuals. This action is a part of Googles strategy to take on competitors such as Microsoft and OpenAI. After Google unveiled the Gemini AI models earlier this month, social media users criticised the models for producing historically incorrect photos. On Wednesday, Google made the halt announcement and admitted to the problem. This failure comes after an earlier instance in which Bard, Googles generative AI chatbot, disseminated false information on planetary photos. According to Jack Krawczyk, Senior Director of Product for Gemini at Google, the company wants to address historical idiosyncrasies and enhance the quality of its picturegenerating tool now that it is relaunched as Gemini. Read More..

B2B Tech News | 2 months ago