Satya Nadella: World Is Entering The Golden Age Of AI

The Daily Top 7 News and Trends

Jan 19, 2023

The NextBigWhat newsletter brings you curated and summarized business and tech news every day.

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Here are today’s Top 7:

1. Spotify urges EU to take action against Apple’s ‘unfair’ practices

In a joint industry letter, Spotify Technology and other media companies including Deezer requested the European Commission to take action against Apple Inc. for unfair and anticompetitive conduct.
The letter urged the Commission to move swiftly for the welfare of European consumers and was written to Margrethe Vestager, Executive Vice-President of the European Union’s antitrust agency.

2. Satya Nadella: World is entering a golden age of artificial intelligence

According to Microsoft CEO Satya Nadella, an Indian farmer recently used a ChatGPT interface to access an opaque government programme online while only speaking the regional dialect.
A golden age of artificial intelligence, according to the chairman and CEO of Microsoft, is currently in progress and will completely alter the nature of employment.

3. Crypto exchange Genesis set to file for bankruptcy

In the event that it was unable to raise money due to a liquidity crisis, Genesis previously stated that it was considering declaring for bankruptcy. This week could be the beginning of Genesis’ bankruptcy filing.
The news came after the US SEC sued Genesis and cryptocurrency exchange Gemini with selling unregistered securities through Gemini’s “Earn” programme on January 12.

4. Govt alone cannot determine fake news: Editors Guild in response to draft amendment to the IT Rules

Editors Guild of India said it “urges the Ministry to expunge this new amendment, and to initiate meaningful consultations with press bodies, media organisations and other stakeholders, on the regulatory framework for digital media, so as to not undermine press freedom.”
The Information Technology (IT) Rules draft change causes “deep concern,” according to the Guild.

5. Except BoAt, all Shark Tank India judges’ companies are losing money

Vineeta Singh’s SUGAR Cosmetics recorded a loss of INR 75 Cr in FY22. After enduring losses of Rs. 1,332 crore in FY21, Ghazal Alagh’s Mamaearth for the first time posted a profit for FY22 at INR 14.44 Cr.
In FY 2022, BharatPe had a total loss of Rs 5,594 crores. Besides Shaadi, Anupam Mittal’s other brands are either no longer in existence or aren’t profitable enough.

6. Twitter Blue subscription now offers a discounted yearly option

The new annual option is priced at $84 per year ($7 per month), which is a dollar cheaper than the $8 monthly price.
The discount is available in other countries, including the UK, Canada, Australia, New Zealand and Japan.

7. Fintech Pagaya to cut 20% of its workforce

Severance payouts will result in a $4 million one-time charge for the company, the most of which will be recorded in the first quarter.
Pagaya said that starting in 2023, the employment reduction will result in yearly savings of nearly $30 million and assist the company reach its short- to medium-term growth goals.

Idea Of The Day

Find your 20% task

The Pareto principle states: You tend to get 80% of your results from 20% of your work. Make that 20% work your priority—and your benchmark for a productive day.

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