PricewaterhouseCoopers U.S. will invest $1 billion to expand and scale its artificial intelligence capabilities over the next three years. The accounting giant will work with Microsoft and OpenAI to automate parts of its tax, audit and consulting services. In addition to scouting for AI software acquisitions, the investment will also fund training for its staff of 65,000 and recruitment of new talent. PwC predicts generative AI will “change business models and reinvent entire industries,” contributing up to $15.7 trillion to the global economy by 2030. Continue reading PwC’s $1 Billion Investment in AI Includes Microsoft, OpenAI

After three straight quarters of declining revenue, Meta Platforms posted a 3 percent year-over-year gain in Q1, for a total of $28.6 billion. Earnings fell by 24 percent, to $5.7 billion, due in part to restructuring charges. But the bad news was offset by strong user growth, including 37 million daily active users for Facebook, up 4 percent from Q1 2022. The results beat Wall Street expectations and exceeded Meta’s own guidance. Meta CEO Mark Zuckerberg called it “a good quarter,” adding that “our AI work is driving good results across our apps and business.” Continue reading Meta Back on Growth Curve Following Three Tough Quarters

Meta Platforms CEO Mark Zuckerberg is getting a lot of love from Wall Street, which saw the company’s stock add $100 billion in value in Q1, largely on the basis of announcing layoffs. Now the 38-year-old is getting attention for a 2,200-word staff memo that has garnered high marks for candor even as he eliminates another 1o,000 jobs. “Last year was a humbling wake-up call,” Zuckerberg wrote. “The world economy changed, competitive pressures grew, and our growth slowed considerably.” Streamlining while working more strategically is the foundation of what Zuckerberg has coined a “year of efficiency.” Continue reading Zuckerberg Memo Outlines Management Based on Efficiency

Palo Alto-based BetterWorks, a company with funding and public support from venture capitalist John Doerr, has developed software that not only measures worker performance but also helps employees set individual goals to become more efficient in the workplace. The company’s software makes use of tactics and practices found in social media, fitness trackers and video games to encourage employees to set and accomplish goals in a process that is transparent to bosses and co-workers. Continue reading BetterWorks Designed to Track and Improve Work Efficiency

Last week, wireless startup Nitero unveiled its first WiGig radio silicon. The low-power WiGig chip is targeted at smartphones, tablets and TVs, specifically to transfer large files in a short range at extremely fast speeds. For example, the WiGig chip can stream 4K video from a TV to a smartphone using high frequency 60GHz waves. Nitero’s 28-nanometer WiGig chip reportedly consumes 10 times less power than competing chips from Wilocity. Continue reading Nitero WiGig Chip Brings Multi-Gigabit Speeds to Smartphones

Day one of Media Management in the Cloud, a two-day conference co-produced by NAB and the ETC, opened Tuesday morning to a standing-room only crowd in the Convention Center’s South Hall. After a brief welcome by ETC CEO Ken Williams, ETC’s Erik Weaver began the day’s events, noting that almost everything happening at NAB this year seems to have some connection to the cloud. Day one presentations and panels focused on key areas related to cloud services, such as cost, scalability, security, production and storage. Continue reading NAB Cloud Conference Opens to a Packed House in Las Vegas

Netflix is making a push for Ultra HD resolution streaming and promises to reveal details on its plans for 4K at next month’s Consumer Electronics Show in Las Vegas. Neil Hunt, the streaming service’s chief product officer indicated Netflix has deals to offer 4K streaming with embedded players on certain UHD TVs (manufacturers will also be announced at CES). The second season of Netflix’s original series “House of Cards” will be the first to stream in 4K in 2014. Continue reading Netflix to Reveal 4K Streaming Details at Next Month’s CES

Automated advertisement buying is used by marketers where computerized systems focus on specific users based on their consumer data and Web browser histories. Machines and automation are handling more of the process of purchasing online advertising. These new methods of ad buying are expected to increase by more than 50 percent, and are becoming a more popular trend among advertisers to target their ads with more efficiency. Continue reading Study: Automated Ad Buying to Grow by 56 Percent This Year