AI boosts tech giants’ results, does Internet search, influences the US election and Apple heads into space

Technology

It’s quiet out there in TechnologyLalaland, ahead of the United States elections. Which is understandable as that monumental event drowns out everything, including any news that tech companies might have. Besides, it’s tough to write releases about the news while holding your breath.Overshadowed as they are by the US elections, things aren’t standing still though. End of last week, Amazon put in an impressive set of third quarter results, bringing in as much revenue as a medium-sized national economy does annually and beating expectations. Looking at the commentary around the figures, analysts singled out Amazon’s advertising business as a standout earner, along with the company’s cloud computing unit.

Amazon Web Services (AWS) sales grew by 19 per cent which is an accelerated rate compared to last year. Yes, it’s due to artificial intelligence (AI) demand, which is still running hot. To the point that it appears AWS isn’t able to keep up, as per what chief executive Andy Jassy said:

“We have more demand than capacity, particularly in chips. Our partnership with NVIDIA and custom silicon like Trainium will help address this,” Jassy said.

There’s going to be chunky capex spending, US$75 billion this year and more in 2025, to build out capacity at AWS, for the cloud provider to catch that “once in a lifetime opportunity” that Jassy called AI.

From our perspective on a small island in the South Pacific, that’s a big chunk’o’change. Investors elsewhere appear to think the same, and have started adding up numbers, not just for AWS but for its competitors Google and Microsoft too, and feel less than enamoured by the results they see.

Nevertheless, Jassy has slashed staff numbers by 27,000 the last two years at Amazon, and with the recent Q3 results the company looks set to remain in investors’ good books for now.

By the way, if you think 19 per cent sales growth for AWS is huge, think again. Microsoft’s Azure cloud biz grew by a third in its last year, while Google Cloud rose by 35 per cent. 

AI for search 

Meanwhile, Microsoft-backed OpenAI said it now, finally, offers Internet search for the ChatGPT interface to the GPT large language models after talking about it since the middle of this year. There’s much scepticism around how well LLM-based search engines will work.

That’s mainly because as almost everyone knows by now, Generative AI can and will make stuff up. If it happens, GenAI will do so in a plausible-looking fashion, and it might not do that every time you type in a query.

Google discovered that the hard way when it introduced the AI Overviews with glue on pizza recipe results, a feature launch that the tech giant will never be able to live down. AI Overviews can still produce some subtly amusing results:

Facebook parent Meta is also working on AI search however, probably because it doesn’t want to be stuck with Google and Microsoft Bing. 

ChatGPT search is only available for paid subscribers at the moment. Some who have tried it and compared ChatGPT to Google Search are impressed by the clear answers with direct links to the sources – and no advertising with prioritised results à la Google. 

We’ll see if this is the beginning of the end of Google’s Internet advertising empire, or just a whole lot of confusion but yes, do watch this space.

Apple expands in space

Look what I did there, segueing beautifully into Apple which has stumped US$1.1 billion for its satellite partner Globalstar for, it appears, to expand the low Earth orbit (LEO) operator’s space and and terrestrial network. In pre-payments and other money, with some sources suggesting it might be as much as US$1.5 billion.

From the Securities and Exchange Commission (SEC) filing:

On October 29, 2024, the Company and Customer agreed to make certain amendments to the Services Agreements and entered into other related agreements (collectively, the “Updated Services Agreements”) for Globalstar to deliver expanded services to Customer over a new mobile satellite services (“MSS”) network, including a new satellite constellation, expanded ground infrastructure, and increased global MSS licensing (the “Extended MSS Network”). The Extended MSS Network will be owned by Globalstar Licensee, LLC, together with its subsidiaries (collectively, the “Globalstar SPE”), and operated by the Company.

Since the iPhone 14, you’ve been able to connect the devices to satellites. With big caveats, for contacting emergency services and the find my location feature, for when you’re out of cellular or Wi-Fi coverage. Everyone telco and their dog is talking about satellite connectivity at the moment, and it’ll be interesting to see what Apple will do with its bigger stake in Globalstar.

Globalstar has quite a small constellation currently with 25 satellites, but it has rights to the licensed n53 2.4 gigahertz band which apparently can be used for terrestrial LTE mobile broadband service in North America, Brazil and other big economies. Sounds difficult, technically, but then so’s SpaceX Starlink’s stuff and that’s going just fine.

A US election influenced by inauthentic behaviour

Back to the US election, ProPublica in collaboration with the Tow Centre for Digital Journalism at the Columbia Journalism School looked at how eight deceptive advertising networks placed over 160,000 ads on Meta properties with bogus offers and seeking to influence opinion. It’s a great story, so please read it.

That type of “inauthentic behaviour” (Facebook’s term, not the writer’s) has been around for well over a decade now, probably longer. Whatever Meta is doing to stem the torrent of fakeness, well… it’s not really working that well is it?

Closer to home, open source intelligence researcher Elise Thomas discovered a big AI bot network on Twitter-X, which is powered by ChatGPT it would appear. The bot network looks like it was adapted to post pro-Trump messages ahead of the election, but it’s also badly put together and revealed itself to Thomas inadvertently.

The AI-automatons are not very obedient to Bot Herders, and get confused, argue with each other or simply refuse to do as prompted. Many of the bot accounts have now been suspended by Twitter-X.

Click through to the thread on Twitter-X (and yes I know, the Musk-ordered changes have made it harder to share threads) for an amusing read.

1. I’ve found a large, AI-driven bot network on X which is posting in support of Trump in the US election.Thread. pic.twitter.com/ez38QbkVsP
— Elise Thomas (@elisethoma5) November 3, 2024

Right, now to wait until things get back to normal in a few days time. Ha ha. Who am I kidding?

Enhancing business with advanced SaaS cash flow management

Business News

In the dynamic world of business, the mantra of sustainable growth is underpinned by the ability to manage cash flow effectively.One of the biggest pain points, especially for B2B businesses, is ensuring receivables are collected on time—which often becomes the make-or-break for these businesses. Working capital is the rate determiner for businesses, and a lack of it is due to money stuck in receivables or poor cash flow planning owing to the gap between accounts receivable (AR) and accounts payable (AP) cycles. While traditional cash flow management methods have served businesses for years, the digital transformation era demands more advanced, efficient, and scalable solutions. This is where Software-as-a-Service (SaaS) cash flow management platforms come into play, offering enhanced capabilities for tracking collections and payables and forecasting future cash flows. These platforms provide real-time insights, facilitate efficient cash flow tracking and ultimately, contribute to topline and bottomline growth.The shift to SaaS cash flow managementThe shift from manual processes and traditional accounting software to SaaS-based cash flow management solutions has been a game-changer for businesses. These solutions integrate seamlessly with existing enterprise systems, offering a host of advantages such as accessibility, scalability, and cost-efficiency. With SaaS platforms, businesses can access their cash flow data anytime and anywhere, ensuring they remain agile in a fast-paced market environment.Moreover, these solutions automate key financial processes, reducing the burden of manual data entry and minimising errors, and focus more on strategic planning rather than getting bogged down by routine administrative tasks. As a result, collection tracking becomes more streamlined, helping businesses maintain a steady financial course, besides eliminating cross-team inefficiency, especially between finance and other teams. Real-time sales and revenue insightsOne of the standout features of advanced SaaS cash flow management platforms is their ability to provide real-time insights into sales and revenue. This data is crucial for decision-making, as it allows businesses to assess their current financial health, identify trends, and adjust their strategies accordingly.For instance, businesses can monitor cash inflows and outflows, track payments, and stay updated on outstanding invoices. With real-time visibility into accounts receivable and payable, companies can better manage their working capital. It ensures businesses have sufficient liquidity to meet operational needs, invest in growth, and seize new business opportunities.Real-time data also enables businesses to track revenue streams across different product lines or services, providing a clear view of what is working. Such insights are invaluable for sales teams, as they can identify top-performing products, adjust pricing strategies, and target high-potential markets more effectively.Improved forecasting and budgetingAnother critical advantage of using SaaS cash flow management is improved forecasting and budgeting capabilities. Traditional methods often rely on historical data and static spreadsheets, making it challenging to adapt to changing market conditions. On the other hand, advanced SaaS solutions use AI and ML to analyse past patterns and predict future trends, offering more accurate and dynamic cash flow forecasts.Accurate forecasting is important for sales and revenue tracking. Businesses can make informed decisions about sales strategies, resource allocation, and market expansion by predicting when payments are likely to be received and how much cash will be available.For example, a business can plan its sales campaigns around times when cash flow is expected to be strong, ensuring there is enough liquidity to support marketing efforts and inventory purchases.Enhanced forecasting also helps in identifying potential cash flow gaps before they become critical issues. It allows businesses to take preemptive measures such as negotiating better payment terms with suppliers or accelerating collections from customers, thereby maintaining a healthy cash flow.Enhanced enterprise resource planning (ERP)SaaS cash flow management platforms can be seamlessly integrated with ERP systems, creating a powerful synergy for sales and revenue tracking. By linking financial data with customer interactions, businesses can gain a 360-degree view of their customers’ payment behaviours, preferences, and purchasing patterns.This integration allows businesses to offer more personalised payment plans and discounts based on customer profiles, making it easier to close sales. Moreover, understanding the payment patterns of high-value customers can help sales teams tailor their approaches to foster loyalty and encourage repeat business. It not only improves the customer experience but also enhances cash flow by reducing delays in payment collections.Optimising accounts receivable and payableAccounts receivable and payable are key components of cash flow management. Managing these efficiently is crucial for maintaining liquidity and ensuring businesses can meet their financial obligations. Advanced SaaS cash flow management platforms come equipped with features that optimise AR and AP processes, leading to better sales and revenue tracking.These solutions enable businesses to automate invoicing and payment reminders, reducing the time taken to follow up on unpaid invoices. Automation also ensures that payments are received on time, reducing the risk of cash flow disruptions. Additionally, SaaS platforms can offer payment analytics, helping businesses understand payment cycles and identify any bottlenecks in the process.On the AP side, they can automate vendor payments, ensuring the business benefits from early payment discounts and avoids late payment penalties. Such capabilities help in maintaining healthy relationships with suppliers—crucial for negotiating better terms in the future.Data-driven decision-making for revenue growthIn today’s data-centric world, the ability to harness data for decision-making is a major competitive advantage. SaaS cash flow management platforms provide detailed analytics and reporting features that empower businesses to make data-driven decisions, including insights into revenue growth drivers, sales performance, and profitability metrics.With access to these insights, businesses can identify underperforming products or services and make necessary adjustments to their sales strategies. They can also pinpoint which sales channels are delivering the highest returns and allocate resources accordingly. It helps in optimising the sales process, ensuring efforts are directed towards areas that have the highest revenue potential.Moreover, data-driven insights can guide businesses in setting realistic sales targets and tracking progress against those targets. By continually monitoring sales performance and adjusting strategies based on real-time data, businesses can ensure they remain on track to achieve their revenue goals.ConclusionAdvanced SaaS cash flow management solutions provide businesses with the tools they need to enhance their sales and revenue-tracking capabilities. By offering real-time insights, improved forecasting, integration with ERP systems, and optimised AR/AP processes, these platforms enable businesses to streamline their financial management and focus on growth.For businesses seeking to thrive in today’s fast-paced environment, embracing a SaaS-based approach to cash flow management is no longer optional—it is a strategic necessity. As companies continue to adapt to digital transformation, those that leverage advanced cash flow management solutions will be better positioned to maximise their sales potential, boost revenue, and achieve long-term financial stability.Kunal Aggarwal is the Founder and CEO of Credflow.(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)

Bulgaria is presented at the World Travel Market tourist exhibition in London

Travel

Bulgaria will present its beautiful nature, sites under the auspices of UNESCO, opportunities for cultural tourism and wine temptations at the World Travel Market tourist exhibition in London, which will be held from November 5 to 7, 2024. Every year the World Travel Market is visited by approx. 43,000 people, and nearly 5,000 exhibitors, the Ministry of Tourism reports. And this year, the Bulgarian stand will be located in one of the most communicative places of the exhibition. 27 Bulgarian tourist companies, associations and municipalities will take part in the Bulgarian stand.During the exhibition, the Minister of Tourism Evtim Miloshev will continue his initiative to create Destination “Balkans” and will hold a working meeting on the topic with Olga Kefaloyani, Minister of Tourism of Greece.

Baz Luhrmann’s Joan of Arc Movie Has Been in the Works for 30 Years: ‘I Was Waiting for the Right Time’ to Tell This ‘Ultimate Teenage Girl Coming-of-Age Story’

Arts & Culture, Film & TV

Baz Luhrmann’s upcoming Joan of Arc movie has been in the works for decades.
“This is something he’s talked about for 30 years,” his wife and creative partner Catherine Martin told me Saturday at the LACMA Art+Film Gala, where Luhrmann was honored alongside sculptor Simone Leigh.

The teenaged Joan of Arc became a heroine after leading the French army to victory in Orléans in 1429 before being burned at the stake in 1431. Warner Bros. confirmed in September that Luhrmann was taking on the epic tale of France’s national heroine and saint Joan of Arc.

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The film is based on “Blood Red, Sister Rose,” the 1974 novel about Joan of Arc by “Schindler’s List” author Thomas Keneally.

Popular on Variety

“I almost did Alexander the Great and then at one point I was going down the road on Napoleon, but more than ever, I realized I was waiting for the right time to tell this story and the idea of this ultimate teenage girl coming-of-age story set in a 100-year war,” Luhrmann said. “She’s a young girl who’s from a small town who manages to tell this 25-year-old king, ‘We’re going to be able to unite the country, and you’ll be king.’ It’s that inspiration, that uplift. It’s like now where the current generation needs to do what the generation before us did, and that is make space, lift up the new voices and the new energy, and make sure that they’re there to smash through this ossified world.”

Baz Luhrmann at Catherine Martin at the 2024 LACMA Art+Film Gala.
Gilbert Flores

The title role has yet to be cast. “Like Elvis, I do my process,” Luhrmann explained. “It’s the same one where I have no prejudice and I identify all possible talents, and I do the work. It’s a process of exploration. That’s what I’m doing right now.”

Martin said she has been prepping design of the film by visiting significant locations in France related to Joan of Arc, including her birthplace, Domrémy. “It’s sort of fascinating because everyone talks about her being a shepherdess, but in fact, her father was the head of the town, and they had the only stone house,” she said. “So there was a degree of sophistication in that household. And I just think it’s a fascinating subject, particularly in a time when I think youth is feeling very disfranchised. I think Joan felt the same way. And having a teenage daughter, I realize that when teenage girls put their mind to it, they can do anything — they can change the world.”

Joan of Arc’s story has been told on film and television many times, including in Luc Besson’s “The Messenger: The Story of Joan of Arc,” starring Milla Jovovich. “Jeanne,” a French drama directed by Bruno Dumont and starring Lise Leplat Prudhomme, premiered at the Cannes Film Festival in 2019.

Somali Americans gear up for US elections

US & Canada

MINNEAPOLIS, MN —  Somali Americans in Minnesota last month took part in a town hall involving Democratic and Republican party representatives encouraging them to participate in the 2024 election, arguing the stakes are high for them and their grandchildren. During a VOA town hall event in Minneapolis, Somali Americans listened to remarks by panelists from…

Finalists for the 2014 National Book Award Announced

Arts & Culture, Books

The National Book Foundation recently shared the 20 books to make its short list for the 2014 National Book Award. The winners in each category will be announced November 19.FictionAnthony Doerr, All the Light We Cannot SeeRabih Alameddine, An Unnecessary WomanMarilynne Robinson, LylaPhil Klay, RedeploymentEmily St. John Michael, Station ElevenNonfictionEvan Osnos, Age of AmbitionRoz Chast, Can’t We Talk About Something More PleasantEdward O. Wilson, The Meaning of Human ExistenceAnand Gopal, No Good Men Among the LivingJohn Lahr, Tennessee Williams: Mad Pilgrimage of the FleshPoetryClaudia Rankine, CitizenLouise Glück, Faithful and Virtuous NightFred Moten, The Feel TrioFanny Howe, Second ChildhoodMaureen N. McLane, This BlueYoung People’s LiteratureJacqueline Woodson, Brown Girl DreamingJohn Corey Whaley, NogginSteve Sheinkin, The Port Chicago 50Deborah Wiles, RevolutionEliot Schrefer, ThreatenedImage licensed under Simon & Schuster

2024 World Wide Technology Championship odds…

Technology

After a week off, the PGA Tour returns for the 2024 World Wide Technology Championship, which begins on Thursday. El Cardonal at Diamante in Cabo San Lucas, Mexico, will host this event for the second straight year.Below, we look at World Wide Technology Championship odds from BetMGM Sportsbook’s PGA Tour odds and make our PGA Tour picks and predictions.El Cardonal at Diamante is a Tiger Woods-designed course, which opened in 2014 and challenges players with steep elevation changes. It’s situated along the Pacific Ocean, giving spectacular views throughout the course. Erik van Rooyen won this event last year with a score of 27-under par, 2 shots clear of Matt Kuchar and Camilo Villegas.This year, Max Greyserman is the tournament favorite with odds of +1400, followed by Cameron Young (+2000) and Doug Ghim (+2200). van Rooyen is +3300 to defend his title and win the event for a second straight year.WATCH: PGA Tour is live on ESPN+! Get ESPN+World Wide Technology Championship – Expert picksOdds provided by BetMGM Sportsbook; access USA TODAY Sports Scores and Sports Betting Odds hub for a full list of PGA Tour odds. Lines last updated Monday at 10:36 p.m. ET.Beau Hossler (+2500)Hossler has played well this fall, finishing in the top 11 twice and also coming in 23rd at the Shriners Children’s Open. In this event last year, he finished tied for 15th and had 3 rounds under 70 – including a final-round 65.Cameron Young (+2000)Young has yet to win on the PGA Tour, but this is the type of event that could lead to a breakthrough. It’s a weaker field and is played at a course with wide fairways, so he can play it aggressively without much penalty for errant tee shots. He finished 54th here last year.World Wide Technology Championship picks – ContendersDaniel Berger (+5000)Berger appears to be rounding into better form after his absence due to injury, finishing 39th or better in each of his last 3 starts, including a 7th-place finish at the Sanderson Farms Championship.Nate Lashley (+5000)Lashley tied for 10th here last year and has gotten progressively better this fall, coming in 55th, 61st, 29th and 16th in his last 4 starts. Combining his recent form and a top-10 finish in this event last year makes him a good pick.World Wide Technology Championship picks – Long shotsChesson Hadley (+10000)Hadley notched a top-10 here last year with a T-7 at Tiger’s course. He’s struggled all year, but he has made 3 of his last 4 cuts.Play our free daily Pick’em Challenge and win! Play now!For more sports betting picks and tips, check out SportsbookWire.com and BetFTW.Golfweek:Follow @camdasilva on Twitter/X. Follow SportsbookWire on Twitter/X and like us on Facebook.More PGA Tour Odds, Picks and Predictions!2024 ZOZO Championship prop bet picks and PGA Tour predictions2024 ZOZO Championship odds, picks and PGA Tour predictions2024 Shriners Children’s Open prop bet picks and PGA Tour predictions

Cut in policy rate to boost business activities: PM

Business News

ISLAMABAD  –  Prime Minister Shehbaz Sharif says reduction in policy rate will enhance business activities, exports and employment opportunities in the country. Presiding over a meeting of the Parliamentary Party of PML-N here yesterday, he said the economy of Pakistan is becoming stable. He said the State Bank of Pakistan has reduced the policy rate by 250 points. He said following the decrease of 250 points, the reduction of policy rate from 17.5% to 15% is welcoming. He said inflation has scaled down from thirty-eight percent to seven percent, while the national and international institutions are testament to the stability of the country’s economy. Shehbaz Sharif said the nefarious designs of those, who want to spread chaos and bring the country to the brink of bankruptcy, witnessed failure.  He said history will always remember those in golden words who sacrificed their politics for the survival of the country. Shehbaz Sharif said a new chapter has been added in Pakistan-Saudi investment partnership during the recent visit to Saudi Arabia. He said in the Future Investment Initiative, a detailed discussion was held with the Saudi leadership, especially Saudi Crown Prince Mohammed bin Salman. During the meeting, the PML-N Parliamentary Party was also taken into confidence regarding the proposed legislation bill in the National Assembly. Earlier, the prime minister chaired a meeting of the federal cabinet here. During the meeting, he took the cabinet into confidence on the outcome of his recent successful visits to Kingdom of Saudi Arabia and State of Qatar, terming these as ‘successful and productive’. The prime minister said that he held very productive and useful consultations with the leadership of KSA and Qatar wherein different subjects like solar energy, mines, minerals and IT sectors were thoroughly discussed during the bilateral meetings. He said a delegation of Qatar Investment Authority would soon visit Pakistan as Qatar had announced to invest $3 billion in Pakistan, adding Saudi Crown Prince Mohammed bin Salman, during a meeting, had told him that there was immense potential of IT trained people in Saudi Arabia and asked him to send the skilled people from Pakistan to his country since they required it. The Amir of Qatar also hinted at setting up an IT park in Pakistan, he added. The prime minister said whereas Pakistan and Azerbaijan had also agreed to enhance the bilateral investment to $2 billion in diverse areas. He said the understanding between the two countries was reached during a visit of Azerbaijan President Ilham Aliyev in the shape of signing of agreements and memorandums of understanding (MoUs).