Latest AI News

Citi is expanding its research division to cover private companies, particularly in tech and AI sectors where private firms increasingly dominate. The initiative will analyze about 100 influential private companies, providing institutional investors with valuable insights as these firms remain private longer. Heath Terry, formerly of Goldman Sachs, will lead private AI coverage. This move mirrors similar efforts by competitors like JPMorgan Chase and reflects the growing importance of private market intelligence as economic value shifts away from public markets. Citi also hosts an annual Private Company Growth Conference to connect investors with innovative private companies.

Commonwealth Bank of Australia is cutting 45 jobs while expanding AI implementation, prompting criticism from the Financial Services Union. The union claims nearly 800 workers have been laid off in the past year despite the bank's strong profits. Most affected positions are in New South Wales. The bank defends these changes as necessary for building specialized capabilities and maintaining competitiveness, while simultaneously hiring technology specialists in India. Union representatives are seeking greater transparency and support for affected workers as the financial sector increasingly adopts AI technologies.

Micro1, an AI-focused recruitment platform, is seeking new funding at a $500 million valuation, positioning itself as a Scale AI competitor. Previously valued at $80 million after raising $3.3 million in pre-seed funding from investors like Jason Calacanis and Josh Buckley, the Los Angeles-based company is led by CEO Ali Ansari. Micro1 specializes in AI-powered recruitment tools that connect businesses with global engineering talent, operating in a growing market alongside established players like ChatGPT and Scale AI.

Microsoft has launched Copilot Mode for Edge browser, integrating AI capabilities directly into the browsing experience. This new feature offers real-time summarization of web content, context-aware question answering, AI-driven content creation, voice command support, and personalized recommendations. Available in Edge version 136.0.3240.92 and above, Copilot Mode can be activated through the browser interface or experimental flags. Microsoft emphasizes privacy protection, with deidentified prompts and limited data usage. This launch strengthens Microsoft's Copilot ecosystem across its product suite, aiming to create a more intelligent and productive browsing environment.