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TODAY’S TOP PICKS FOR YOU

1. Mayhem at OpenAI: A timeline of Sam Altman’s firing

2. Monzo's Major Move: Alphabet's Investment and the Future of Fintech

3. Amazon’s AI education leap: Free courses to shape the future of AI talent

4. Apple reportedly plans to release Vision Pro headset in March 2024

INSIGHTS

Mayhem at OpenAI: A timeline of Sam Altman’s firing

• Sam Altman, co-founder and CEO of OpenAI, was abruptly fired by the board, leading to organisational upheaval including the resignation of President Greg Brockman and three senior researchers.

• Altman's dismissal followed a call between him and Chief Scientist Ilya Sutskever, who later defended the decision as necessary for OpenAI's mission.

• The incident raised investor concerns, potentially affecting OpenAI's valuation, and spurred Altman to plan a new venture, possibly in AI chip development.

• Internal turmoil escalated with nearly 500 of OpenAI's 770 employees threatening to quit, leading to pressure on the board to reinstate Altman, though he ultimately did not return as CEO.

Why it matters: This is complete carnage and drama at OpenAI. This is likely to have incredible implications for the future of the Company. How many employees will follow Altman? Will this enable other competitors to catch pace with OpenAI?

Monzo's Major Move: Alphabet's Investment and the Future of Fintech

• Alphabet, Google's parent company, is reportedly finalising a deal to lead a funding round for Monzo, potentially raising between £300m and £500m, valuing Monzo at over £4bn.

• This investment includes participation from both new and existing investors, with Monzo's current backers like Tencent, General Catalyst, Accel, and Passion Capital showing interest in investing more at this new valuation.

• Founded in 2015, Monzo has grown into one of Britain’s leading digital banks, despite a £116m loss in the last financial year, and is forecast to turn a profit this year. The bank is also expanding into the US and recently launched an insurance business.

• Monzo and Alphabet have not officially commented on the deal, but its completion would mark Monzo as one of Britain's most valuable digital banks.

Why it matters: Alphabet's potential investment in Monzo highlights the current volatility and competitiveness in the fintech sector. Amid market challenges, this move could boost Monzo's position, helping it navigate regulatory challenges and achieve growth goals, especially in its targeted expansion into the US market. Monzo's strategic focus on solidifying its UK presence while eyeing global expansion mirrors broader trends in fintech, where adaptability and innovation are key to success.

Amazon’s AI education leap: Free courses to shape the future of AI talent

• Amazon launches "AI Ready," a program offering free educational courses on generative AI, aimed at equipping a wide range of learners with essential AI skills.

• The initiative extends Amazon’s existing AWS AI skills training, adding eight free courses that delve into AI project management and development.

• Targeting 2 million users by 2025, Amazon has already seen 21 million people train in AWS cloud computing skills through its existing programs.

• The courses are designed to meet the rising demand for AI talent in the workforce and also serve to promote Amazon’s own AI products, such as the CodeWhisperer AI code generator and Bedrock AI app maker.

Why it matters: Amazon's "AI Ready" initiative reflects a strategic move in the rapidly evolving AI industry. By offering free AI education, Amazon not only addresses the growing demand for AI skills but also positions its own AI technologies within the competitive tech market. This approach is aligned with trends seen in other major tech companies, emphasising the importance of skill development in AI and the increasing role of education in technology adoption and innovation.

Apple reportedly plans to release Vision Pro headset in March 2024

• Apple plans to release its Vision Pro mixed-reality headset in March 2024, slightly later than its initially planned January launch.

• The headset, priced at $3,499, will first launch in the United States and then expand to other countries including Canada and the UK within the year.

• Vision Pro features visionOS, a software designed specifically for spatial computing, and will support iPhone and iPad apps, plus over 100 Apple Arcade titles.

• The device's unique design includes a wire-connected battery pack for up to two hours of use and micro-OLED technology for its displays.

Why it matters: The upcoming release of Apple's Vision Pro headset signifies a significant step in the evolving landscape of mixed-reality technology. Positioned at a premium price point, it targets enterprise buyers, potentially indicating future consumer-oriented versions. This launch places Apple in direct competition with other tech giants in the AR/VR space, further intensifying the race for innovation and market leadership in this rapidly growing sector.