May 29, 2024
Tech News
Avendus, a leading investment bank in India, is planning to raise up to $350 million for its new private equity fund, Future Leaders Fund III. This fund aims to support startups in India by providing larger investments and maintaining significant positions in the companies it backs. Avendus has been a major player in India’s startup ecosystem, involved in over 30 deals last year, including mergers and acquisitions.
LVMH has partnered with Alibaba Group to enhance the luxury retail experience in China using artificial intelligence and cloud technologies. This partnership aims to create new applications and services to improve luxury offerings for global consumers and drive growth. LVMH plans to integrate Alibaba Cloud’s generative AI capabilities, including Qwen and Model Studio (Bailian), to optimize business operations, enhance customer insights, and streamline supply chain management processes.
The upcoming Samsung Galaxy Z Flip 6 is reported to have a slightly increased battery capacity of 3,790mAh, compared to the Z Flip 5’s 3,700mAh. Additionally, details about the Galaxy Ring have been leaked, revealing size ranges from 5 to 12 and battery capacities from 17mAh to 22mAh, depending on the size. These details were discovered through FCC testing records.
Verizon is offering a discounted subscription to YouTube Premium at $10 per month through its myPlan perks, starting May 30th. This is part of Verizon’s efforts to sell more streaming services. Additionally, Verizon will add Peacock to its digital content hub, Plus Play, on June 5th, and has announced a new Unlimited Phone Upgrade option for Unlimited Ultimate customers.
OpenAI’s ChatGPT has failed to meet the European Union’s data accuracy standards, according to a report by the EU’s privacy watchdog task force. The task force, set up in response to concerns about the AI service, stated that ChatGPT’s outputs might not always be factually accurate, which does not comply with the EU’s data protection rules. Investigations by national privacy watchdogs in the EU are ongoing.
Tech Explained
Private Equity Fund – A type of investment fund that invests in private companies or engages in buyouts of public companies, with the goal of generating high returns for investors.
Artificial Intelligence – The simulation of human intelligence processes by machines, especially computer systems, to perform tasks that typically require human intelligence, such as visual perception, speech recognition, decision-making, and language translation.
Cloud Technologies – The delivery of computing services, including servers, storage, databases, networking, software, analytics, and intelligence, over the internet to offer faster innovation, flexible resources, and economies of scale.
Subscription – A business model where a customer pays a recurring price at regular intervals for access to a product or service.
Natural Language Processing – A subfield of artificial intelligence that focuses on the interaction between computers and humans using natural language.
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