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We’re excited to bring you our March tech news update! We scoured the tech landscape to bring you the latest and most significant developments in the world of technology.
From breakthroughs in artificial intelligence to the latest gadgets and software releases, we’ve got all the top stories covered. Stay tuned for the latest on the most significant developments in the tech world this month. You won’t want to miss it!
News updates on Global arena
The Metaverse Faces a Reality Check as Major Companies Shut Down Development
Despite being the buzzword in tech just a couple of years ago, the metaverse is facing setbacks as major companies have shut down their metaverse-related divisions. Walt Disney Co. and Microsoft Corp. have both ceased development of their metaverse strategies, while Mark Zuckerberg has shifted focus to artificial intelligence during a recent earnings call. This indicates that the hype surrounding the metaverse may be dying down, leading to a “meh-taverse” instead of a metaverse. Source
AI Experts, Including Elon Musk, Advocate for a Halt in Technology’s Advancement
Tech leaders and artificial intelligence experts, including Elon Musk and Yoshua Bengio, are urging for a pause in the rapid advancement of powerful new AI tools. They propose a moratorium of at least six months to allow the industry to establish safety standards and mitigate the risks posed by the most dangerous AI technologies. Source
White-Collar Jobs Transforming as ChatGPT and Other AI Programs Take Over Workplaces
According to a panel of executives at the WSJ Jobs Summit, the rapidly evolving role of AI in office work is the biggest workplace challenge of the year. As generative artificial intelligence programs like ChatGPT become more prevalent in workplaces, white-collar jobs are transforming faster than ever. Source
Shop Now, Pay Later: Apple Introduces Interest-Free Loans of Up to $1,000!
Apple’s latest offering, dubbed “Apple Pay Later,” enables consumers to divide their purchases into four payments that are spaced out over six weeks with no fees or interest charges. Through the Wallet app on their iPhone, users can borrow between $50 and $1,000 using Apple Pay Later. Source
Google Unveils AI Chatbot ‘Bard’ to Compete with OpenAI and Microsoft and it is more boring on purpose
Google has unveiled an AI chatbot, named “Bard,” as a competitor to OpenAI’s ChatGPT and Microsoft’s Bing chatbot. Bard has the ability to answer queries, draft emails, tell stories, and even compose a newspaper column. However, unlike ChatGPT and Bing, Bard is more reserved in its responses and lacks the intrigue, originality, and humor of its competitors. Additionally, Bard is incapable of writing computer code or funny jokes. Source
Microsoft Launches Image-Creation Feature for Search Engine
Microsoft Corporation has introduced an image-creation feature for its search engine on Tuesday. This new feature allows users to create custom images by adding text overlays and logos to photos. Source
Healthcare
AWS Healthcare Accelerator Unveils Startups Tackling Global Healthcare
Amazon Web Services (AWS) has revealed 23 startups that will participate in its new AWS Healthcare Accelerator. The chosen startups are developing cloud-based solutions to help address the worldwide healthcare worker shortage. Source
Samsung Medical Center Cuts Diagnostic Reading Time in Half with 5G
Samsung Medical Center (SMC) has successfully utilized an integrated digital pathology system that combines 5G connectivity and digital pathology to speed up clinical decision-making. Source
Microsoft and MITRE Join Forces to Defend Against ML Cyberattacks
Microsoft and MITRE have collaborated to create an automated adversarial attack library, designed to help those without a deep background in machine learning or artificial intelligence to understand how these attacks work and build defenses against them. The tool provides insights into ML cyberattacks, allowing users to better protect their systems. Source
Fintech
Jedox Integrates ChatGPT to Help Fintechs Experiment with AI in IBP Processes
Jedox, an enterprise performance management solution provider, has integrated ChatGPT to allow fintech companies to experiment with generative AI in their integrated business planning (IBP) processes. The model supports various teams such as finance, sales, HR, marketing, supply chain, and ESG. Source
Digital Wallet War Between Banks and Apple Heats Up
Tech companies looking to gain market share in consumer payments are making banks increasingly concerned about losing ground. Among the biggest threats to traditional finance is Apple. However, banks are not backing down and are actively fighting back. Source
Cryptocurrencies Show No Leverage Effect
A new study by The Risk Protocol, an investment platform, has found that unlike equity markets, cryptocurrencies do not exhibit the “leverage effect,” where volatility and returns are inversely related. The study analyzes the statistical properties of returns and volatility for the top 50 cryptocurrencies and found that while their returns display similarities with other financial returns, their behavior can be distinctively different in certain instances. Source
Data management
Generative AI Tools Help Businesses with Customized Data
Business software makers are now utilizing generative artificial intelligence tools that integrate industry-specific data into customized applications. By gathering data from specific business functions, these AI tools can be optimized for distinct applications, providing businesses with an edge in a competitive market. Furthermore, keeping the underlying algorithms free of extraneous online data helps to ensure more accurate results. Source
Microsoft has introduced ‘Security Copilot’
It is an AI-powered cybersecurity assistant that helps professionals identify breaches, detect threat signals, and analyze data using OpenAI’s GPT-4 model. The tool assists in tasks like summarizing incidents, analyzing vulnerabilities, and sharing information with co-workers. Source
Leaked Audio Reveals TikTok’s US User Data Accessed from China
Internal audio recordings from over 80 TikTok meetings have revealed that China-based employees of ByteDance accessed nonpublic data of US TikTok users, contradicting the platform’s promise of storing information in the US. This behavior had led to former president Donald Trump’s threat to ban TikTok in the US. Source
Retail
Retailers Predict Significant Increase in Robot Usage by 2025
According to a Connected Retail Experience Study conducted by Incisiv in collaboration with Verizon Business, retailers expect up to 70% of routine tasks to be partially or wholly automated by 2025. The report also predicts that the use of robots for tasks such as cleaning and inventory audits will double in that timeframe for specialty and department stores. Source
Instacart to Launch ChatGPT-Powered Feature for Grocery Shoppers
Instacart is partnering with Open AI to develop an ‘Ask Instacart’ feature, powered by ChatGPT, which will allow shoppers to ask questions about budget, health, nutrition, and prep time as they create their grocery lists. The feature is expected to launch later this year and is the result of Instacart’s new internal team dedicated to exploring how new tools like ChatGPT can better serve customer needs. Grocery retailers are among the first to embrace this emerging technology. Source
To sum up
In March, the tech industry saw major developments in artificial intelligence, the metaverse, fintech, data management, and healthcare. Notably, industry leaders called for a pause in AI advancement to establish safety standards, and companies like Apple and Google released new features and products.
White-collar jobs continue to transform as generative AI programs become more prevalent in the workplace.
In fintech, companies are experimenting with generative AI in integrated business planning processes. Meanwhile, startups are tackling global healthcare issues, and digital pathology is making strides in clinical decision-making.
Keep your thumbs on a pulse and follow our monthly tech updates!
