OpenAI CEO Sam Altman expressed that he is slightly scared of artificial intelligence technology and how it might affect the workforce, the spread of disinformation, elections, etc. OpenAI developed the ChatGPT that creates human-like responses to questions and sparked a new AI sensation in the world. Altman said, “I think people really have fun with ChatGPT. The…
The Federal Reserve of the USA is all set to launch a digital payments system in July this year. Federal Reserve promises that the digital payment system will help accelerate the way money moves around the globe. Richmond Fed President Tom Barkin, who is the program’s executive sponsor, said, “FedNow, as it will be known,…
HSBC announced a deal to buy the U.K. arm of collapsed US tech startup lender Silicon Valley Bank. HSBC agreed to buy the SVB U.K. for £1. The transaction excludes the assets and liabilities of SVB U.K.’s parent company. HSBC Group CEO Noel Quinn, “The acquisition strengthens our commercial banking franchise and enhances our ability to…
China’s leaders take a cautious approach to the estimate for the country’s economic recovery, after removing most of the Covid restrictions on business activity that were imposed in 2022. China announced a target of around 5% Gross Domestic Product (GDP) growth for 2023, with only a slight increase in fiscal support. The vice president and senior…
