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World Liberty Financial: Donald Trump revela su negocio de criptomonedas, proporciona pocos detalles

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Donald Trump proporcionó el lunes pocos detalles sobre un nuevo proyecto de criptomonedas que el expresidente republicano, su familia y colegas dieron a conocer en un evento en vivo en X Spaces.

Trump participó en una amplia discusión que abordó el aparente segundo intento de asesinato en su contra el domingo y su paso de ser… Criptomoneda Escéptico a la hora de aceptarlo.

Pero ni él ni su familia han proporcionado muchos detalles sobre la empresa (World Liberty Financial), incluido cómo se fundó, se financió o qué servicios prestará.

Es inusual que un candidato presidencial lance una nueva empresa comercial tan cerca de las elecciones, pero Trump estaba buscando acudir a los tribunales… Activos digitales Defensores y su dinero antes del día de las elecciones el 5 de noviembre.

Habiéndose burlado previamente de las criptomonedas como una estafa, Triunfo Trump ha adoptado los activos digitales durante su campaña de reelección, prometiendo hacer de Estados Unidos la “capital de las criptomonedas del planeta” mediante una regulación ligera y una reserva nacional de Bitcoin.

En las últimas semanas, los hijos mayores de Trump, Eric y Donald Jr., han promovido el proyecto, prometiendo que “transformará” el mundo de las finanzas de activos digitales, sin dar más detalles.

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(Esta historia no ha sido editada por el personal de NDTV y se genera automáticamente a partir de un feed sindicado).

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Jio Financial Services lanzó la aplicación JioFinance con UPI, banca en versión beta

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Jio Financial Services Ltd anunció el lanzamiento de “JioFinanzas“La aplicación está en modo beta. La plataforma tiene como objetivo revolucionar las finanzas diarias y la banca digital con una interfaz completa y fácil de usar. Según un comunicado de prensa emitido por la empresa, la aplicación JioFinance ofrece integración de servicios de banca digital, incluidos. Interfaz de pago unificada (UPI). Transacciones, pagos de facturas y consultas de seguros.

Los usuarios pueden acceder a una vista unificada de sus cuentas y ahorros, todo dentro de una plataforma fácil de usar. La aplicación está diseñada para satisfacer las necesidades de las personas en todos los niveles de conocimientos de tecnología financiera y garantiza una fácil administración del dinero al alcance de los usuarios.

Servicios Geofinancieros Tiene planes para la aplicación 'JioFinance'. Las actualizaciones futuras ampliarán las soluciones de préstamos, comenzando con préstamos sobre fondos mutuos e introduciendo gradualmente préstamos hipotecarios.

Las características clave de la aplicación incluyen la apertura instantánea de cuentas digitales, lo que permite a los usuarios abrir rápidamente cuentas digitales y acceder a servicios bancarios al instante.

La función de cuenta bancaria de Jio Payments proporciona una gestión simplificada de las cuentas bancarias dentro de la aplicación, mientras que la liquidación de facturas y las transacciones UPI se simplifican para las transacciones financieras del día a día.

Además, la aplicación ofrece consultas sobre seguros, brindando orientación experta sobre productos de seguros para garantizar una planificación financiera integral.

JioFinance pone un fuerte énfasis en la confianza, la conveniencia y la transparencia.

El lanzamiento beta de la aplicación invita a los usuarios a recibir comentarios para mejorar y potenciar continuamente la experiencia de banca digital. Este enfoque demuestra la dedicación de Jio para cumplir y superar las expectativas de los clientes mediante la mejora continua y el diseño centrado en el usuario.

“Estamos entusiasmados de lanzar al mercado la aplicación 'JioFinance'. Una plataforma que tiene como objetivo redefinir la forma en que las personas administran sus finanzas hoy en día. Nuestro objetivo final es simplificar todo lo relacionado con las finanzas en una sola plataforma para cualquier usuario de todo el mundo. La combinación Demographics, con su conjunto integral de ofertas como préstamos, inversiones, seguros, pagos y transacciones, hace que los servicios financieros sean más transparentes, asequibles e intuitivos”.


(Esta historia no ha sido editada por el personal de NDTV y se genera automáticamente a partir de un feed sindicado).

Los enlaces de afiliados pueden generarse automáticamente; consulte nuestro sitio web Declaración de ética Para detalles.

Para lo último Noticias de tecnología Y ReseñasSiga Gadgets 360 en X, Facebook, WhatsApp, Hilos Y noticias de Google. Para ver los últimos vídeos sobre gadgets y tecnología, suscríbete a nuestro canal. Canal de Youtube. Si quieres saber todo sobre los top influencers, sigue nuestra web ¿Quién es ese 360? en Instagram Y YouTube.


Se presentan los chipsets MediaTek Dimensity 7300 y Dimensity 7300X con computación de IA y capacidades multitarea



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Visa warns dangerous new malware is attacking financial firms

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Visa is warning its partners, clients, and customers, of an ongoing phishing attack that aims to deliver a banking trojan. 

The Visa Payment Fraud Disruption (PDF) unit sent out a security alert to card issuers, processors, and acquirers, noting it had observed a new phishing campaign that started in late March this year. 

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Apple’s worst quarter reveals financial woes: Today in Apple history

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March 28: Today in Apple history: Apple racks up staggering $700 million loss March 28, 1996: In a dire message to Wall Street, Apple warns that it will report a $700 million after-tax loss for its most recent quarter.

Apple’s biggest quarterly loss in history, the shocking news reveals a company in far more financial trouble than previously thought. More than half the loss comes from $1 billion of unsold products.

Apple’s worst quarter ever

The $700 million loss more than tripled Apple’s previous low-water mark, which occurred during the third quarter of 1993. (At that time, the company recorded a $188 million deficit.) In addition to unsold products, Cupertino faced two other key challenges: clone Macs and the company’s decision to slash its prices to remain competitive.

As I’ve noted before, the clone Macs — while making perfect sense in theory — turned out to be a disaster for Apple. Third-party manufacturers only paid Apple $50 as a licensing fee for each machine produced. This might have been good for Apple if clone Mac sales exploded overnight. However, the end result of the clones was not more Macs, but cheaper Macs.

The decision to slash Mac prices also proved dangerous, since Apple sustained much higher costs than most computer manufacturers due to its development of both hardware and software. As one final boot in the teeth, Apple underestimated the popularity of some of its new products. As a result, Cupertino simply could not deliver them in the quantities demanded.

Start of the Apple turnaround

While things certainly looked bad for Apple in the early days of 1996, reasons for optimism remained despite the company’s worst quarter ever. New Apple CEO Gil Amelio took the reins from previous CEO Michael Spindler, who got dumped following a failed merger attempt between Apple and Sun Microsystems.

Amelio previously built a reputation as a turnaround artist at National Semiconductor. As CEO there, he took a company that lost $320 million over four years and made it profitable. Amelio also possessed a strong engineering background, which made him one of the strongest technical people ever to run Apple.

“I’m confident at this point that I know what the problems are and that they are fixable,” Amelio said in a statement concerning Apple’s $700 million loss. “The strategic and operating plans we are currently developing will enable us to build upon Apple’s fundamental strengths and competitive position.”

Apple in the 1990s

On the ground, Apple products continued to do well. But being an Apple fan in the 1990s often proved frustrating. The picture seemed very different from how it looked at the top. Many local Mac retailers reported that the computers sold well. Even post-Windows 95, a gulf in quality existed between the seamless experience Apple delivered and what Windows users endured.

Ultimately, Amelio oversaw more money-losing quarters before making his best (but most personally destructive) decision at Apple: buying Steve Jobs’ NeXT Inc. and bringing Jobs back to the company he co-founded.

Before too long, Jobs started running Apple. Amelio got the boot, and one of the most famous turnarounds in tech history got underway.

Do you remember when Apple reported its worst quarter ever? Were you a fan, an Apple employee or someone who relied on Apple in some other capacity? Leave your comments below.



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Microsoft unveils Copilot for Finance a new financial AI assistant

Microsoft Copilot AI for Finance

If you are searching for an artificial intelligent (AI) assistant that can help you with financial advice and managing both personal and business finances. You might be interested to know that Microsoft has today introduced a new feature to its Microsoft 365 suite, known as Copilot for Finance. As the name suggests it has been specifically designed to significantly improve the work lives of finance professionals.

This innovative financial AI powered tool is designed to automate routine tasks, offer intelligent financial insights, and streamline finance workflows, all of which are crucial in the finance industry. By integrating Copilot for Finance into Microsoft 365, Microsoft aims to support finance teams in making better strategic decisions and enhancing their operational efficiency. Microsoft explains more about its new financial AI assistant :

“Introducing Microsoft Copilot for Finance, the AI assistant for finance professionals. Access insight while in the flow of work to support strategic decision-making and reduce the time spent on manual, repetitive work. By harnessing next-generation AI, Copilot automates time consuming tasks, like data consolidation, to empower finance professionals to focus on what truly matters – driving business performance.”

Finance professionals often find themselves bogged down by the daily grind of repetitive tasks. Copilot for Finance seeks to lighten this load by working seamlessly with well-known Microsoft 365 applications like Excel and Outlook. It enhances these applications by automating finance-specific tasks and providing insights that are specifically relevant to financial data. This integration is a significant step forward for finance teams, as it allows them to redirect their attention towards more strategic tasks that can have a greater impact on their organizations.

Financial AI assistant

One of the most impressive aspects of Copilot for Finance is its ability to pull data from a variety of ERP systems, such as Microsoft Dynamics 365 and SAP. Additionally, it utilizes insights from the Microsoft Graph, which ensures that finance teams have access to information that is both contextual and relevant. Currently, Microsoft is showcasing new features of Copilot for Finance in a public preview. These features include variance analysis in Excel, which simplifies the reconciliation process, the ability to summarize customer account details directly in Outlook, and the conversion of raw data into visuals and reports that are ready for presentation.

The introduction of Copilot for Finance follows the successful deployment of other Copilot offerings by Microsoft, which have been adopted by companies such as dentsu, Lumen Technologies, Northern Trust, Schneider Electric, and Visa. These organizations have utilized Copilot to improve the capabilities of their sales, service, and finance departments. Microsoft’s own use of Copilot for Sales and Service has led to more efficient workflows and better customer experiences, with significant increases in productivity and reductions in the time taken to handle cases. Here are some other articles you may find of interest on the subject of Microsoft Copilot :

Microsoft Copilot for Finance

Microsoft has built Copilot for Finance with a focus on responsible AI use. The tool can be customized through Microsoft Copilot Studio to fit the specific needs of different organizations. This customization capability is crucial, as it allows the tool to be tailored to the unique processes and requirements of each business, ensuring that it can be as effective as possible. Copilot for Finance, is available as a public preview and introduces a suite of features designed to enhance financial operations, streamline workflows, and provide actionable insights.

  • Integration with Microsoft 365: Copilot for Finance is built on top of Copilot for Microsoft 365, enabling it to enhance productivity apps like Excel and Outlook with specialized financial insights and workflows.
  • Natural Language Data Analysis in Excel: It allows financial analysts to conduct variance analysis using natural language prompts. This feature helps in reviewing datasets for anomalies, risks, and unmatched values, aiding in strategic financial planning and analysis.
  • Automated Data Structure Comparisons in Excel: Simplifies the reconciliation process by automatically comparing data structures and guiding users through troubleshooting. This helps ensure the reliability and accuracy of financial records.
  • Summary of Customer Account Details in Outlook: Provides a comprehensive summary of relevant customer account details, such as balance statements and invoices, directly in Outlook. This feature is designed to expedite the collections process.
  • Transformation of Raw Data into Presentation-ready Visuals: Enables the conversion of raw data in Excel into visuals and reports that are ready to be shared across platforms like Outlook and Teams, facilitating smoother communication and presentation of financial data.
  • Workflow Automation and Recommendations: Offers AI-powered workflow automation, recommendations, and guided actions tailored to finance professionals. This is aimed at streamlining financial tasks and enhancing productivity.
  • Insights Derived from Financial Data Sources: Draws on essential context from existing financial data sources, including ERP systems like Microsoft Dynamics 365 and SAP, as well as the Microsoft Graph, to provide insights and recommendations.
  • Role-based Workflow Automation: As part of the broader Copilot offerings for business functions, Copilot for Finance provides role-specific workflow automation and insights, addressing the unique needs of finance professionals.

The launch of Copilot for Finance within the Microsoft 365 suite is a major development for finance teams. By taking over mundane tasks and providing valuable insights, the tool enables professionals to focus on strategic growth and customer engagement. The result is not only a boost in efficiency within finance departments but also an improvement in the overall customer experience. As finance professionals continue to seek ways to optimize their work and contribute more value to their organizations, tools like Copilot AI are becoming increasingly important. With its advanced AI capabilities and seamless integration with existing Microsoft applications, Copilot for Finance is set to become an essential component of the modern finance professional’s toolkit.

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Financial Apps and Tools to Simplify Your Life

 

Financial Apps

In our increasingly digital world, managing personal finances has evolved from the traditional paper-and-pencil methods to a more streamlined, tech-driven approach.

This shift has made it possible to turn what used to be an absolute chore into an efficient and, dare we say, enjoyable activity.

Let’s delve into how technology is transforming personal finance management, offering tools and apps that simplify and enrich our financial lives.

Embracing Digital Solutions for Financial Management

The influx of digital tools has revolutionized the landscape of personal finance management. Gone are the days when managing money meant hunching over ledger books, cutting coupons out of brochures, magazines and newspapers, or fussing over reams of paperwork.

Today, many computer software, online services, and smartphone apps bring financial management right to your fingertips. These tools automate repetitive tasks and provide valuable insights, helping you seriously cut expenses and boost investment returns.

Banking, for instance, has seen a significant transformation. Online and smartphone banking provides instant access to account information, facilitates electronic bill payments, and also allows remote check deposits.

This convenience, however, doesn’t come without risks. The digital realm is not immune to security threats, but these multi-layered security measures at many financial institutions offer a strong defense against potential breaches.

The Magnetic Appeal of Cashback Apps

Cashback apps deserve a special mention in the realm of financial tools designed to simplify your life. These apps, offering rewards for purchases made through them, are a smart way to earn back a portion of your spending.

It’s a win-win situation where you save money on purchases you would make anyway, adding an extra layer of efficiency to your financial management.

When choosing a cashback app, consider the following features to ensure it suits your lifestyle:

  • Compatibility with Your Lifestyle: Choose an app that aligns with your spending habits and the types of stores or services you frequently use.
  • Wide Range of Participating Venues: Look for apps that partner with many stores, gas stations, and restaurants. This variety increases the chances of earning cash back on your regular purchases.
  • Ease of Use: The app should be user-friendly, making it easy to find participating locations and track your cashback earnings.
  • Real Cash Back: Ensure the app offers actual cash back, not just points or complicated reward systems. The simplicity of receiving real money as a reward can be more straightforward and satisfying.
  • No Hidden Fees: Check if the app is free to use and doesn’t come with hidden fees or requirements.

By incorporating a cashback app into your daily routine, you can effortlessly earn rewards on purchases you’re already making, adding a layer of financial efficiency to your life.

The Rise of Specialized Financial Apps

Beyond basic banking, a world of specialized financial apps is designed to cater to various needs. Budgeting tools, for instance, have become indispensable for young adults.

Apps like Mint offer a user-friendly platform for tracking spending and savings, while Personal Capital provides a more comprehensive view, including net worth tracking and retirement planning.

Then there’s the innovative concept of micro-investing, where apps like Acorns simplify saving by rounding up your purchases to the nearest dollar and investing the change.

This effortless approach to saving is particularly appealing to those who find traditional saving methods daunting.

Simplifying Insurance and Health Care Management

Navigating the labyrinth of insurance and healthcare billing is another area where technology lends a helping hand.

Tools like Simplee Wallet aggregate information from various insurance and healthcare providers, offering a clear view of your coverage, deductibles, and medical bills.

This consolidation not only simplifies management but also aids in identifying potential billing errors.

The Role of Technology in Long-Term Financial Planning

Reflecting on long-term goals and planning for the future is another area where technology can be a valuable ally. Tools that assist in goal-setting and planning, such as personalized worksheets and apps, help clearly define and track long-term financial objectives.

These resources encourage proactive financial management, allowing you to envision and work towards a more secure financial future.

The Convenience of Peer-to-Peer Payment Platforms

The rise of peer-to-peer payment platforms like Venmo, PayPal, and Zelle has revolutionized how we handle money transfers. These services offer a convenient way to split bills, pay friends, or even make purchases, eliminating the need to carry cash.

Credit and Account Monitoring for Enhanced Security

In an era where data breaches routinely occur, credit and account monitoring have become more crucial than ever. Apps like CreditWise allow you to keep tabs on your credit score and receive alerts for any changes in your credit report.

These tools provide peace of mind and also help in the early detection of potential fraud, adding a layer of security to your financial ecosystem.

Moreover, innovative services like Charlie and Eno leverage AI to offer personalized financial insights. These platforms enable users to easily track their bank account balances for instant responses to finance-related queries, all through a friendly and interactive interface.

Robo Advisors for Accessible Financial Planning

For those beginning their financial journey or looking for affordable financial advice, robo advisors are a game-changer.

Services like Ellevest and Betterment use algorithms to provide investment recommendations, making financial planning accessible to a wider audience.

These platforms are especially beneficial for individuals who may not have substantial assets but still seek expert guidance on their financial journey.

Technology as a Financial Empowerment Tool

Integrating technology into personal finance management is about convenience and cost savings. But more importantly, it’s a shift toward empowerment.

By utilizing full spread of tools available, from banking apps to cashback apps, you’re simplifying your financial life and taking charge over your finances.

These tools offer tailored solutions for your individual needs and preferences, making financial management an accessible and, importantly, achievable goal for everyone.

In an age where time is a precious commodity, these technological advancements in finance are a great way to save money and time.

By harnessing the power of these tools, you free up space for the activities you love, turning financial management from a task into an opportunity for growth and personal development.

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5 mobile management innovations transforming the financial sector

5 mobile management innovations transforming the financial sector

In today’s financial landscape, organizations face unique challenges. From navigating stringent regulations to adapting to digital innovations, the path forward demands astute technological integration. Particularly, mobile management emerges as a critical focus area. Here, you’ll discover how embracing modern mobile solutions like Android Enterprise can redefine industry standards.

What is mobile management?

1. Embracing Flexibility in Work Models

The trend towards distributed teams is gaining momentum. With a significant 78% of financial organizations opting for fully flexible work arrangements, the role of mobile management has become pivotal. The key here is the ability of modern solutions to provide streamlined and secure deployment. This means that devices are not only efficiently managed but also ready for immediate use, regardless of the employee’s location. This flexibility is crucial for organizations that need to adapt to various work environments rapidly. Advanced mobile management tools make it possible for devices to be pre-configured with necessary security and software, ensuring they are operational as soon as they reach the employee’s hands. This approach minimizes IT complexities and maximizes productivity, especially in scenarios where immediate response and real-time data access are essential.

2. Transforming Customer and Employee Experiences

In financial services, especially in retail banking, the expectation for digital accessibility has seen a remarkable surge. Mobile devices are leading this change, providing ways to offer personalized services that were once limited to in-person interactions. For example, mobile consultations with investment experts break down geographical barriers, allowing customers to receive advice regardless of their location. Similarly, streamlined check-ins for on-site customers using mobile devices enhance the customer experience by reducing wait times and improving service efficiency. This digital transformation signifies a move from traditional banking methods to a more flexible, customer-centric approach, reshaping how financial services interact with their customers.

3. Balancing Productivity with Security and Privacy

The insurance industry demonstrates the vast potential of remote work, with a significant portion of tasks being executable remotely. Yet, the challenge in this sector is maintaining data security amidst stringent regulations. Solutions like Android Work Profile offer a balanced approach. By creating a clear separation between work data and personal usage on the same device, these solutions enable employees to maintain productivity without compromising data security or personal privacy. This approach is particularly important in financial services, where sensitive client data must be protected, yet employees need the flexibility to work from anywhere.

4. Establishing Competitive Edge through Mobility Innovation

A survey highlighting that 95% of asset managers see technology as a key differentiator by 2025 underscores the importance of mobility in gaining a competitive edge. Mobile management solutions that combine data, analytics, and research tools enable financial professionals to operate beyond the confines of a traditional office. The concept of a secure, mobile trading desk or self-service kiosks illustrates this trend, where customers can access financial services in a more dynamic and interactive manner. This mobility allows financial professionals to be more responsive to market changes and client needs, providing a significant advantage in a fast-paced industry.

5. Adapting to Diverse Device Management Needs

The decline in the preference for BYOD models in U.S. financial firms and the shift towards corporate-liable models reflect growing security concerns. Nonetheless, meeting employee needs remains a priority. Platforms that support various mobile management modes, like Android Work Profile, provide the necessary flexibility. They enable organizations to customize device management based on specific roles and requirements. For instance, fully managed devices might be ideal for call centers, where security and control are paramount, while dual-purpose phones could be more suitable for branch managers who need to balance work and personal use. This adaptability in device management is crucial for catering to different employee needs while maintaining organizational security and efficiency.

Other articles we have written that you may find of interest on the subject of mobile technology:

These trends highlight the evolving nature of mobile management in financial organizations, emphasizing the need for solutions that are flexible, secure, and capable of enhancing both customer and employee experiences. As the financial industry continues to navigate digital transformation, these mobile management strategies will play a crucial role in shaping its future. By leveraging modern mobility solutions like those offered by Android Enterprise, financial organizations can adeptly navigate these trends and challenges. Such integration not only addresses the current demands but also paves the way for setting new standards in the financial sector.

“Mobility management is becoming increasingly critical for financial services organizations with 83% offering work location flexibility. But with strict regulatory requirements, business leaders need a level of flexibility and control that most mobility management solutions don’t offer. In this eBook, learn how Android Enterprise can offer innovative solutions to seamlessly manage and deploy devices across various use cases.”

Understanding and implementing these mobile management trends is not just beneficial; it is imperative for staying ahead in a competitive and ever-evolving market. The integration of these solutions empowers financial organizations to not only meet but exceed industry standards, marking a new era of efficiency, security, and innovation. If you are interested in learning more Google has created a new e-book entitled Flexible.Powerful.Modern featuring more information on the standard of mobility for financial services.

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Apple reports fourth quarter financial results 2023

Apple reports fourth quarter results ending September 30 2023

Apple Inc. reported its financial results ending September 30, 2023, revealing a slight dip in quarterly revenue compared to the previous year but an increase in earnings per share. The quarterly revenue for the tech giant was $89.5 billion, marking a 1% decrease from the corresponding period in the previous year. However, despite this slight decline, the company’s earnings per diluted share saw a significant rise, increasing by 13% year over year to reach $1.46.

Apple’s CEO, Tim Cook, shared that the company achieved record September quarter revenue for its flagship product, the iPhone. Furthermore, the company also set an all-time revenue record in its Services sector. The record-breaking performance of the iPhone and Services sectors highlights Apple’s ability to maintain strong sales and profit margins despite the overall decrease in quarterly revenue.

“Today Apple is pleased to report a September quarter revenue record for iPhone and an all-time revenue record in Services,” said Tim Cook, Apple’s CEO. “We now have our strongest lineup of products ever heading into the holiday season, including the iPhone 15 lineup and our first carbon neutral Apple Watch models, a major milestone in our efforts to make all Apple products carbon neutral by 2030.”

Apple fourth quarter financial results

In addition to strong financial performance, Apple also demonstrated its commitment to environmental sustainability. The company introduced its first carbon-neutral Apple Watch models as part of its product lineup for the holiday season. Alongside the environmentally friendly watches, Apple is also set to launch the iPhone 15, which the company describes as part of its “strongest lineup of products ever.” Apple’s commitment to sustainability extends beyond individual products, with a company-wide goal to make all its products carbon neutral by 2030.

Apple’s CFO, Luca Maestri, also reported impressive figures for the company. Apple reached a new all-time high in the active installed base of devices across all its products and geographic segments. This suggests that despite the competitive tech market, Apple’s user base and product reach continue to grow.

“Our active installed base of devices has again reached a new all-time high across all products and all geographic segments, thanks to the strength of our ecosystem and unparalleled customer loyalty,” said Luca Maestri, Apple’s CFO. “During the September quarter, our business performance drove double digit EPS growth and we returned nearly $25 billion to our shareholders, while continuing to invest in our long-term growth plans.”

In terms of shareholder returns, Apple demonstrated its commitment to its investors by returning nearly $25 billion in the September quarter. This was achieved while the company continued to invest in its long-term growth plans, striking a balance between rewarding shareholders and reinvesting in the company’s future.

Furthermore, Apple’s board of directors declared a cash dividend of $0.24 per share of the company’s common stock, payable on November 16, 2023. This move further underscores Apple’s commitment to delivering value to its shareholders.

Apple Q4 2023 financial results conference call November 2 2023

To ensure transparency and accessibility, Apple made its Q4 2023 financial results conference call available via live streaming on November 2, 2023. The webcast will be available for replay for approximately two weeks, allowing shareholders and interested parties to review the company’s performance and future plans at their convenience.

Despite the challenges posed by a slight decrease in quarterly revenue, Apple’s Q4 2023 results paint a picture of resilience and strategic growth. The company’s record-breaking iPhone and Services revenue, combined with its commitment to environmental sustainability and shareholder returns, suggest that Apple remains a formidable player in the global tech industry. As the company moves forward, it will be interesting to see how these strategies and initiatives continue to shape its financial performance and market position.

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BloombergGPT 50 Billion parameter financial language AI model

BloombergGPT 50 Billion parameter financial language model

Earlier this year Bloomberg a leading global provider of financial news and information unveiled it’s new financial language model in the form of the aptly named BloombergGPT. A 50 billion parameter language model, purpose-built for finance and trained on a uniquely balanced mix of standard general-purpose datasets and a diverse array of financial documents from the Bloomberg archives.

The design and training of BloombergGPT was a complex and resource-intensive process. The model is designed to predict the next word in a sequence of words, a capability that is used to generate text. Several key decisions had to be made during the model’s design and training, including the size of the model, the dataset to be used, and the compute infrastructure. Despite the lack of detailed information on overcoming the challenges of training a large language model, the project greatly benefited from the experiences and training logs shared by two projects in 2022.

One of the unique aspects of BloombergGPT is its use of a large dataset from the financial domain. The AI model was trained on a mix of public and private data from Bloomberg, with the private data constituting about half of the training data set. This focus on financial data was intentional, as the model was designed to perform as well as other models on general tasks but excel at finance-specific tasks.

How the BloombergGPT financial language AI model was built

The BloombergGPT financial language AI model is trained on approximately 570 billion tokens of training data, half of which is sourced from the financial domain. Although training BloombergGPT was not without its challenges. The team faced issues such as training instability and problems with the gradient norm. Moreover, the team chose to train the model on a larger data set rather than a larger model, in line with a 2022 paper’s findings that smaller models trained on more data performed better. This decision added another layer of complexity to the training process.

Other articles we have written that you may find of interest on the subject of large language models and AI models :

Training BloombergGPT

Bloomberg’s ML Product and Research group collaborated with the firm’s AI Engineering team to construct one of the largest domain-specific datasets yet, drawing on the company’s existing data creation, collection, and curation resources. As a financial data company, Bloomberg’s data analysts have collected and maintained financial language documents over the span of forty years. The team pulled from this extensive archive of financial data to create a comprehensive 363 billion token dataset consisting of English financial documents.

This data was augmented with a 345 billion token public dataset to create a large training corpus with over 700 billion tokens. Using a portion of this training corpus, the team trained a 50-billion parameter decoder-only causal language model. The resulting model was validated on existing finance-specific NLP benchmarks, a suite of Bloomberg internal benchmarks, and broad categories of general-purpose NLP tasks from popular benchmarks (e.g., BIG-bench Hard, Knowledge Assessments, Reading Comprehension, and Linguistic Tasks). Notably, the BloombergGPT model outperforms existing open models of a similar size on financial tasks by large margins, while still performing on par or better on general NLP benchmarks.”

Evaluation and results

The evaluation of the financial language AI models performance revealed promising results. Bloomberg GPT performed well on general tasks and significantly better on public financial tasks. It was also tested on internal challenges such as sentiment analysis and named entity recognition, yielding mixed results. One of its notable uses was to translate natural language into Bloomberg Query Language (BQL), a complex language used to gather and analyze data on the Bloomberg terminal, demonstrating its potential utility in finance-specific applications.

Despite the challenges encountered during the training of BloombergGPT, the team recommends starting with smaller models and working up to larger ones to mitigate risks. They also advise running experiments at a smaller scale before embarking on larger models to better understand the impact of changes.

Looking ahead, the team is considering several directions for improving BloombergGPT. These include investigating whether they were overly cautious with stability during training, whether they could have fine-tuned an open-source model instead of training a new one from scratch, and how to bridge the gap between a model that generates text and one that directly answers questions.

The development of Bloomberg GPT represents a significant milestone in the application of large language models in the financial domain. Despite the challenges encountered during its training, the model’s performance on finance-specific tasks highlights its potential to transform the way financial data is processed and analyzed. As the team continues to refine and improve the model, we can expect to see even more innovative uses for BloombergGPT in the future. To read more on the development of the large language models specifically created for financial research and analysis jump over to the official paper.

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Analyze company financial reports using AI

analyse Company SEC 10K and 10Q documents using AI and Llama Index

Company financial documents can be many pages in length and cross analyzing different company data can be a very time-consuming process. Thankfully artificial intelligence can be used to help you correlate data from large reports. allowing you to spend more time analyzing the data that is important rather than shuffling hundreds of pages of text, images, graphs and tables.

As we already know the world of financial analysis is complex, multifaceted, and often overwhelming. With the continual release of financial documents such as the 10-Ks and 10-Qs, it has become increasingly challenging to extract meaningful insights from these documents. Enter the Llama Index’s SEC Insights, an new financial tool that leverages artificial intelligence to analyze company financial statements, providing a new level of depth and clarity to financial analysis. the system is currently in its development stages but is already proving to be a useful tool in removing the need to wade through pages and pages of financial results.

The SEC Insight is an open-source project that has been developed by Llama Index, offering those interested a tool that uses retrieval augmented generation capabilities to answer questions about SEC 10K and 10Q documents. This analysis tool is particularly useful for financial documents, which often contain a mix of text, images, and tables, making them difficult to analyze manually.

Analyze company financial reports using AI

The Llama Index’s SEC Insights is capable of effortlessly analyzing these multifaceted financial documents. It can simultaneously examine multiple documents, providing comprehensive insights and enabling deep comparisons and contrasts. This ability to extract meaningful insight from inquiries across multiple documents is a game-changer in financial analysis. Watch the video below created by the team at Llama Index to learn more about how this is possible.

One of the key features of SEC Insights is its chat-based Document Q&A, which allows users to pose questions against a pool of documents. The tool then generates subqueries based on these questions and retrieves information from specific documents to provide answers. This feature enables users to dive deeper into their inquiries by viewing citations at the paragraph level. The tool guides users to paragraph-level citations across multiple documents, providing an unmatched level of clarity and comprehension.

AI financial analyst

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The system architecture of SEC Insight includes a front end and backend implementation, with an S3 bucket for storing PDF files and a vector store in a private bucket. The application makes calls to OpenAI Services and other APIs, such as polygon.io, to answer quantitative questions. Moreover, the application can compare the revenues of different companies and identify which had the highest revenue. It can also identify different risk factors for each company based on their annual reports.

SEC Insight’s application also features a PDF Viewer with highlighting of citations. The answers provided by the application are grounded in the documents, with highlighted sections showing which part of the original document was used to generate the answer. This feature provides an additional layer of transparency, enabling users to understand the basis of the answers provided by the tool.

The benefits of cross-referencing company financial reports using AI

  • Efficiency and Speed: AI algorithms can analyze large volumes of data much faster than humans can. This makes the cross-referencing of 10K and 10Q documents quicker, freeing up human resources for other tasks.
  • Accuracy: Automated systems can reduce human error in data analysis, making the cross-referencing more reliable.
  • Trend Analysis: AI can identify patterns or trends across multiple reports and time periods, offering insights that might be difficult to discern manually.
  • Anomaly Detection: AI systems can flag unusual financial metrics or inconsistencies between reports for further investigation, thus aiding in risk assessment or fraud detection.
  • Compliance Monitoring: AI can automatically check if the reports are in compliance with regulatory requirements, reducing the risk of legal issues.
  • Cost-Effectiveness: Automating the process could lead to cost savings in the long term, as fewer human hours would be required for the same output.
  • Data Integration: AI can easily integrate data from these financial reports with other data sources for a more comprehensive analysis.
  • Customization and Scalability: AI models can be tailored to specific industry needs and can easily scale to accommodate larger sets of data as a company grows.
  • Competitive Analysis: AI can also cross-reference a company’s financials with those of competitors in real-time, providing valuable strategic insights.
  • Historical Context: AI can store and quickly retrieve historical data, allowing for a more contextual analysis that takes into account past performance and industry benchmarks.

Open source AI tool

Moreover, SEC Insight is not just a tool but an open-source project. Both the front end and backend of SEC Insight are open source, and the code can be viewed on GitHub. This open-source nature of SEC Insight is a testament to the transparency and collaborative spirit of the project.

The Llama Index’s SEC Insights represents a significant leap forward in the analysis of complex financial documents, saving you not only time but also possibly money if you make the right decisions. Its ability to analyze multiple documents simultaneously, and open-source nature make it an invaluable tool for financial analysts. By providing comprehensive insights and enabling deep comparisons and contrasts, SEC Insights empowers organizations’ business intelligence, making it easier than ever to navigate through dense financial information.

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