The global computational arms race has augmented the technologies far and wide, bolstering their capabilities, and opening up a plethora of possibilities for companies across industries. FinTech is no exception to this, specifically when narrowing our focus toward artificial intelligence (AI). Global AI in the Fintech market was estimated at USD 6.67 billion in 2019 […]
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Lyft is still feeling the pandemic’s severe impact on the ride-hailing industry but its third-quarter results show signs of a recovery from the previous three months when passengers stayed locked down. The San Francisco-based company brought in $499.7 million in revenue in the three months that ended Sept. 30. That was down 48% from the […]
China’s biggest e-commerce firm Alibaba Group Holding on Thursday reported a 30% jump in quarterly revenue, as China recovers from the virus and online shopping demand remains high. Alibaba reported revenues of 155.1 billion yuan ($23.4 billion) for the three months ended September. Its profit was down 60% to 28.8 billion yuan ($4.4 billion) compared […]
App-based companies like Uber, Lyft and Doordash have dodged a potentially devastating blow to their industry by carving out an exemption from a California law that required them to classify their drivers as employees instead of contractors. California voters passed Proposition 22 and delivered a stinging rebuke to state lawmakers and labor leaders who were […]
NEW YORK (AP) — Walmart is laying off the robots it had deployed in about 500 stores to keep tabs on what’s on and not on the shelves. The retailer said Monday it has ended its relationship with startup Bossa Nova Robotics, which builds roving robots equipped with cameras for identifying out-of-stock and misplaced products. […]
The world’s largest fintech company, China’s Ant Group, will try to raise nearly $35 billion in a massive public offering of stock that would shatter records. Alibaba-affiliated Ant Group, which operates a suite of financial products including the widely-used Alipay digital wallet in China and one of the world’s largest money market funds, will hold […]
The contributions of recent technological developments toward humanity has characterized this period in history as the best time to be alive. From advancements in the field of medicine, to construction, even reaching the service industry, we have made strides in bettering humanity’s quality of life. But there remains a lot to be done; and the […]
Intel has agreed to a $9 billion deal to sell most of its memory business to South Korea’s SK Hynix as it moves toward more diverse technologies while shedding a major Chinese factory at a time of deepening trade friction between Washington and Beijing. Intel said it will keep its “Optane” business of more advanced […]
With many independent bookstore owners facing the most dire financial crisis in their lifetimes, the American Booksellers Association has teamed with an award-winning advertising agency known for “culture hacking” to dramatize the threats of the pandemic and the growing dominance of Amazon.com. On Tuesday, the trade group launched the “Boxed Out” campaign, for which a […]
Airbnb said Thursday it will require hosts to comply with enhanced cleaning procedures as part of its effort to reassure guests and local officials during the coronavirus pandemic. The home-sharing company said hosts have until Nov. 20 to commit to the cleaning protocols, which include scrubbing floors and other surfaces with soap and water; washing […]