In a survey of nearly 2,000 US and UK workers, 62% of respondents believe companies are reducing entry-level hiring due to AI, according to Indeed Flex. However, only 31% of respondents said AI has actually reduced entry-level opportunities in their own field.
A Boston Consulting Group report looks at how citizens are using AI and their satisfaction with government digital services. Nearly two-thirds of global citizens now use AI at least weekly and satisfaction with government digital services has fallen 13% over the last decade. There are opportunities for governments, according to BCG's Digital Government Citizen Survey Report, but also a lot of nuance. Here's what citizens see as the best agentic AI use cases.
OpenAI said it paused internal access to an unreleased model that disproved the Erdos unit distance conjecture. In a detailed post, OpenAI detailed how the model found ways to act outside of its sandbox. OpenAI said long-running frontier AI systems may pose novel risks.
Bristol Myers Squibb (BMS) said it will build an AI factory for life sciences. BMS said it will deploy Nvidia DGX SuperPOD with DGX Vera Rubin NVL72 systems. BMS said the new compute will give it 10x greater performance per megawatt than its predecessor system.
According to BMS, the company's AI infrastructure investment started 3 years ago with its first Nvidia SuperPOD. BMS is also leveraging Nvidia's BioNeMo models and workflows.
Jamie Dimon, CEO of JPMorgan Chase, outlined what his successor needs to do. The bank named two co-presidents that set up the succession plan.
JPMorgan Chase in June named Doug Petno and Troy Rohrbaugh co-presidents. Petno is CEO of the commercial and investment bank and Rohrbaugh is CEO of consumer and community banking.
Dimon emphasized a strong team that includes Jennifer Piepszak as Chief Operating Officer and Mary Callahan Erdoes, who runs the asset and wealth management unit. "I am fully confident if I was hit by a truck, which is not my preference, we would be fine," said Dimon.
What does it take to be CEO?
Dimon said:
"You want to be good at management, you want to be good at people, you want to be analytical, you want to be detailed, you want to be a culture carrier, you want to be curious, you want to have heart, you want to have grit, you want to have a soul, you want to have work ethic, you want to be able to travel, you want to be able to walk in operating centers and deal with CEOs and Prime Ministers, it's all of that.
I could give you a long list of stuff, but it's all of that. At the end of the day, we're blessed with a lot of people who are great culture carriers across a broad spectrum, no one has all those things in a perfect way. And some of the things you learn and some of those things you get better at. But you know when you see it."
Databricks said it will be valued at $188 billion after signing a term sheet for a funding round expected to close later this summer. The round will be led by existing investor Coatue.
Details about the round were sparse other than Databricks saying it will double down on its Unity AI Gateway, AI coworker Genie and Lakebase. Databricks didn't disclose its revenue run rate.
Databricks said it will be valued at $188 billion after signing a term sheet for a funding round expected to close later this summer. The round will be led by existing investor Coatue.
Detail about the round were sparse other than Databricks saying it will double down on its Unity AI Gateway, AI coworker Genie and Lakebase. Databricks didn't disclose its revenue run rate.
Google rebranded NotebookLM to Gemini Notebook, but now connects to connected applications across Google's portfolio. Google is also updating Gemini Notebook to give every notebook a secure cloud compute instance to write and execute code.
TSMC, the largest chip foundry, said second quarter revenue surged 36% to $40.2 billion. Net income surged more than 77%.
The company said third quarter revenue will be between $44.6 billion and $45.8 billion.
Uber said it will acquire Delivery Hero for $13.7 billion. Uber already owned a stake in the company. The deal, which is expected to boost non-GAAP earnings when the deal closes, expands Uber's international delivery services.
Delivery Hero said it will sell units operating in 14 markets to SSW Partners.
Thinking Machines launched Inkling, an open-weight mixture-of-experts model that's trained for broad usage rather than optimized. The company outlined the details in a blog post. Inkling is welcome given that enterprises in the US need more options.
Amazon said that Dave Brown, a 19-year vet of AWS, is retiring from the company to pursue another role. Brown was a key part of Amazon's inner management circle and SVP, AWS Compute & Machine Learning Services. Brown will be replaced by Dave Treadwell, current Senior Vice President of eCommerce Foundation at Amazon, effective Aug. 1.
