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Meet Olympus Amazons Bid to Outshine AI Models like GPT4

According to reports, Amazon is spending millions creating a Large Language Model LLM dubbed "Olympus." With an estimated 2 trillion parameters, this

According to reports, Amazon is spending millions creating a Large Language Model LLM dubbed "Olympus." With an estimated 2 trillion parameters, this LLM may be among the biggest models under training. In contrast, the very capable GPT4 models from OpenAI have almost a trillion parameters. Amazon wants to compete with elite models from businesses like Alphabet and OpenAI. The team is focusing on training models to increase Amazons AI products, especially for Amazon Web Services AWS users, and is overseen by Rohit Prasad, the former head of Alexa. The increasing need for AI models across a range of sectors is reflected in Amazons investment in LLMs. Read More..

B2B Tech News | 1 years ago          

Occidental Petroleums Q3 Earnings Beat Expectations at $1.18 Per Share

Occidental Petroleum exceeded Wall Streets projected profit of $0.84 per share by reporting a thirdquarter profit of $1.18 per share. Although the res

Occidental Petroleum exceeded Wall Streets projected profit of $0.84 per share by reporting a thirdquarter profit of $1.18 per share. Although the results were lower than the previous years due to lower energy prices and worse chemical and pipeline outcomes, they nevertheless show a solid level of oil production in the United States. Comparing the companys adjusted earnings for the same period last year to $1.13 billion, they fell by more than half. Pretax profits of $142 million from asset sales helped Occidental achieve its objectives. The business also disclosed that BlackRock had contributed $550 million to a Texas direct air capture carbon project. Read More..

B2B Tech News | 1 years ago          

Commerzbank Shines in Q3 Profits Soar to $730 Million

Almost three times as much profit as in the same period last year, Commerzbank, a wellknown bank in Germany, posted a betterthanexpected net profit of

Almost three times as much profit as in the same period last year, Commerzbank, a wellknown bank in Germany, posted a betterthanexpected net profit of €684 million $730.72 million in the third quarter. Higher interest rates helped the bank perform better. Over the past several years, Commerzbank has undergone extensive restructuring in an effort to increase profitability. In addition, the bank provided an update on its strategy, stating that it intended to achieve a net profit of around €3.4 billion in 2027 and to lower its costtoincome ratio to 55% by that time. Read More..

B2B Tech News | 1 years ago          

Consumer Financial Protection Bureau CFPB Targets Tech Giants in Payment Oversight

To protect consumers, the U.S. Consumer Financial Protection Bureau CFPB has suggested regulating big internet companies smartphone wallets and digita

To protect consumers, the U.S. Consumer Financial Protection Bureau CFPB has suggested regulating big internet companies smartphone wallets and digital payment systems. Businesses like Alphabet, Apple, PayPal, and Blocks CashApp would be subject to oversight like to that of a bank, including investigations into their executive behaviour, privacy policies, and adherence to laws against unfair and misleading business practices. Since entering office in 2021, CFPB Director Rohit Chopra has been putting more and more pressure on Big Tech, asking questions about their payment platforms and requesting details on how they handle consumer data. The new regulation would apply to businesses that process more than five million transactions a year. The regulation is now available for notice and comment, and it should be finalised in the first half of 2024. Read More..

B2B Tech News | 1 years ago          

Lucid Group Trims 2023 Vehicle Production Forecast to Match Deliveries

To better match delivery capabilities, Lucid Group has lowered its projected car production for 2023 from over 10,000 units to a range of 8,000–8,50

To better match delivery capabilities, Lucid Group has lowered its projected car production for 2023 from over 10,000 units to a range of 8,000–8,500 vehicles. As analysts predicted the amount of $183.8 million, the total revenue generated was only $137.8 million in the third quarter, after which the change was made. The announcement caused a 4% decline in Lucid Groups shares during extended trading. The choice to reduce production targets is intended to guarantee a more cautious and grounded approach to car manufacture. Read More..

B2B Tech News | 1 years ago          

Cybersecurity Coalition US, South Korea, Japan Target North Korean Threats

To combat North Koreas cyber operations that finance its illegal weapons programmes, the US, South Korea, and Japan have formed a highlevel consultati

To combat North Koreas cyber operations that finance its illegal weapons programmes, the US, South Korea, and Japan have formed a highlevel consultation committee. The purpose of the groups quarterly meetings is to strengthen the ability of the three nations to counteract North Koreas cyberattacks and effectively respond to worldwide cyber threats. There are claims that the Norths nuclear and WMD programmes get a substantial amount of cash from these operations. The action comes after these three nations Presidents met in August and decided to form a new trilateral working group to deal with North Koreas cyber threats. Read More..

B2B Tech News | 1 years ago          

Big Tech Faces EUs Push for Transparency in Political Ads

New regulations that force Big Tech companies to explicitly label political advertising on their platforms, reveal who paid for it and how much, and i

New regulations that force Big Tech companies to explicitly label political advertising on their platforms, reveal who paid for it and how much, and identify which elections are being targeted have been agreed upon by the European Union. These regulations will require businesses like Google and Meta Platforms to be more open and responsible. Fines for infractions may reach 6% of the yearly revenue of the advertising supplier. The regulations also forbid political advertising in the EU sponsored by thirdcountry organisations three months before to elections or referendums. Also, they forbid the use of person profiles based on sexual orientation, religion, or ethnicity. Read More..

B2B Tech News | 1 years ago          

Optus Service Blackout Disrupts Millions of Australians for Nine Hours

Millions of consumers were impacted by a ninehour neartotal service disruption experienced by Optus, the secondlargest internet provider in Australia.

Millions of consumers were impacted by a ninehour neartotal service disruption experienced by Optus, the secondlargest internet provider in Australia. Peoples inability to pay for items, get medical care, or make phone calls due to the outage brought attention to the nations growing dependence on internet services. Australias cash transaction rate dropped to 16% in the three years before 2022 as more individuals opted for contactless payments. The impacts of the blackout were most noticeable in the healthcare industry since electronic messaging and telemedicine have grown to be essential services. Singapore Telecommunications Optus provided no reason for the interruption but later brought back the majority of services. Read More..

B2B Tech News | 1 years ago          



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Refresh Your Facts

1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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