Maria Deutscher
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Wells Fargo partners with Google Cloud to power new virtual assistant
Wells Fargo & Co. has partnered with Google LLC’s cloud business to build an artificial intelligence-powered virtual assistant that will help consumers with banking tasks. The companies announced the partnership today. The bank’s new virtual assistant, which is known as Fargo, will roll out to its mobile app in the coming months. Fargo enables users ...
OpenAI reportedly in advanced talks to raise funding from Microsoft
OpenAI Inc. is reportedly seeking to raise a funding round from Microsoft Corp., which invested $1 billion in the artificial intelligence research group three years ago. The development was reported by The Information and the Wall Street Journal on Thursday. OpenAI is said to be in “advanced talks” with Microsoft about the funding round. It’s ...
Google fined $162M in India over Android business practices
India’s competition regulator, the Competition Commission of India, today issued a fine of $161.9 million to Google LLC over its business practices in the Android ecosystem. The regulator also ordered the search giant to change some of its business practices. Android is the most popular mobile operating system in India, with an estimated market share of ...
Google releases open-source tool for evaluating software security
Google LLC today introduced GUAC, an open-source cybersecurity tool that companies can use to find potential vulnerabilities in their software. Google developed GUAC in collaboration with Kusari, Purdue University and Citibank NA. Going forward, development on the project will be carried out with support from a group of technical advisory members. The group includes employees from Intel ...
Banyan secures $43M for its purchase data platform
Banyan, a startup that helps companies more closely align their products and sales promotions with customer preferences, has closed a $43 million early-stage investment. Banyan, incorporated as Rotomaire Inc., announced the Series A investment this morning. The newly raised financing consists of $28 million in equity funding and $15 million in venture debt. Fin Capital ...
Uber launches ad unit to advance revenue growth plans
Uber Technologies Inc. has launched a new advertising unit that will enable brands to deliver ads to the company’s 122 million monthly active users. Uber announced the launch of the unit today. According to the Financial Times, the company is seeking to grow its annualized ad revenue to $1 billion by 2024. For the second ...
Gartner: Worldwide IT spending will grow 5.1% in 2023
Research firm Gartner Inc. projects that worldwide information technology spending will climb 5.1% year-over-year in 2023, to $4.6 trillion. Gartner released its forecast today against the backdrop of its Gartner IT Symposium/Xpo event. According to the research firm, the rise in IT spending expected next year will be driven by increased investments across several areas, ...
Oracle enhances Fusion Cloud application suite with new healthcare capabilities
Oracle Corp. is updating its Fusion Cloud suite of cloud-based business applications with a set of new capabilities focused on the healthcare sector. The company announced the enhancements today at its annual CloudWorld event in Las Vegas. Fusion Cloud is a suite of software-as-a-service applications that organizations use to manage their supply chains, generate revenue ...
Microsoft launches round of layoffs affecting fewer than 1,000 workers
Microsoft Corp. has made a new round of job cuts as part of its efforts to reduce operating costs. The company confirmed the move on Monday following a report in Axios. According to the publication, the job cuts were implemented “across a variety of levels, teams and parts of the world.” Fewer than 1,000 Microsoft ...
Activist investor Starboard Value buys stake in Salesforce
Activist investor Starboard Value LP has bought a stake in Salesforce Inc., CNBC reported today. Starboard Chief Executive Officer Jeff Smith told CNBC that the firm’s stake in Salesforce is “significant” but didn’t disclose the value of the stake. Salesforce has a market capitalization of more than $150 billion. Shares of the software-as-a-service company jumped ...