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Good morning tech fam, here are some quick tech updates for you to catch on to!
What's New Today: After Being Denied Access to Their Work Laptops and Emails, Twitter Employees Found Out That They Were Being Laid Off.
Fast-Track Insights: The Social Trading Platform from Bitget Has the Potential to Revolutionise the Cryptocurrency Market.
The tech sector is buzzing about ChatGPT. Elon Musk is reportedly assembling a team to create a ChatGPT rival, following Google. According to a report by the Information, Musk has recently contacted AI researchers about starting a new lab to create an alternative to OpenAI's ChatGPT. Previous to this, Google unveiled Bard, its AI tool, to compete with OpenAI's ChatGPT. As per The Information, Igor Babuschkin, a researcher who recently left Alphabet's DeepMind AI unit, the report said. Interestingly, Musk has experience with OpenAI. In fact, he and Sam Altman co-founded the non-profit organization OpenAI in 2015. He did, however, resign from the board in 2018 and is still very complimentary of ChatGPT, a new tool from OpenAI. Musk referred to it as "scary good" in a tweet.
This past weekend, Twitter conducted its most recent round of layoffs, affecting close to 200 people. According to a New York Times article, the microblogging website reduced its workforce by 10%, affecting product managers, data scientists, and engineers. The monetization infrastructure team was downsized from 30 to less than eight people, according to the report. Esther Crawford, the head of Twitter Blue, was also fired despite her commitment to helping Musk create Twitter 2.0. Additionally, a photo of her napping in a sleeping bag at Twitter's offices went viral on social media. As per the latest reports, several Twitter employees found out that they were being let go when they were denied access to their work laptops and emails.
Generative AI could lead to a 10-fold increase in coding productivity as per a report. The investment management company Ark Invest predicted that Generative AI could lead to a 10-fold increase in coding productivity in its recent "Big Ideas 2023" report. By 2023, the output of software developers might grow tenfold thanks to AI coding assistants like Copilot, based on a 70% yearly decline in trading costs and feedback loops. The coding process might be revolutionized by generative AI, which would also greatly boost productivity. Read More
Despite recent failures in the sector, U.S. payments giant Visa (V) said on Tuesday that it is still committed to funding and supporting the crypto industry. According to Reuters, Visa is "slamming the brakes" on new collaborations with cryptocurrency-related businesses as the sector comes under increased scrutiny following the failure of the once-famous crypto exchange FTX. CoinDesk was informed by a Visa spokesperson that this is untrue. The spokesperson stated that "the recent failures do not change our crypto strategy and focus to serve as a bridge, helping connect both platforms and emerging technologies in the crypto ecosystem." That is where we have been investing and plan to continue to invest.
An insightful interview between Crypto news and Jay Lee, the Associate Marketing Director at Bitget cryptocurrency exchange, took place at the Blockchain Economy London Summit. Social trading and its potential to revolutionize the cryptocurrency industry were the discussion's main points. In the course of the interview, Jay went into detail about Bitget's unique selling proposition and the process for adding new cryptocurrencies to the platform. Lee remarked that Bitget's social trading function is the biggest difference. While other exchanges offer social trading, he noted that Bitget "makes sure that every trader's information is real and assesses all traders in a transparent way" to ensure that trustworthy information is provided to copy traders.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
