The Commonwealth Bank of Australia says generative AI tools have helped it lower frauds by 30% and reduce call center customer wait times by 40% in 2024 — - Customer scam losses at Commonwealth Bank cut in half — CEO Matt Comyn says many more AI use cases in development
Japan allocates another $9.9B to boost its chip, quantum computing, and AI endeavors, with an undisclosed amount going to chip startup Rapidus — - Ishiba promised more than ¥10 trillion in outlays on chips, AI — Some of the funds are seen going to foundry startup Rapidus
Chinese food delivery giant Meituan reports Q3 revenue up 22.4% YoY to $12.9B, net profit up 3x YoY to $1.78B, and core delivery business up 20.2% YoY to $9.57B — China's largest food delivery firm Meituan (3690.HK) posted a bigger-than-expected 22.4% rise in third-quarter revenue on Friday, defying sluggish Chinese consumption.
Australia's Senate votes to pass a social media ban for children under 16, brushing aside lawmaker concerns on both sides; tech companies could be fined A$50M — - Australia's social media laws to be among strictest in world — Children under age of 16 will be banned from opening accounts
Cloud backup startup Eon raised $70M led by BOND at a $1.4B valuation, taking its total funding to $200M since its January 2024 founding by AWS alumni — - BOND led a $70 million funding round, Eon's third this year — Cloud backup startup was founded by Amazon Web Services alumni
Reddit COO Jen Wong says ~50% of current users are located outside the US, and the company is developing new search tools to simplify navigation on Reddit — Reddit is ramping up efforts to attract more users outside of the U.S., putting countries like India and Brazil in focus as it looks …
Reuters : China approves two cars from state-owned automakers with Level 3 autonomous capabilities, the first such approvals; the cars can...
