JPMorgan said it will notch a bigger than expected revenue boost from its acquisition of First Republic, raising its forecast for annual net interest income by $3 billion, to $84 billion, even as the bank’s executives warned of the likelihood of a “mild recession” and the prospect of higher interest rates. Speaking at the bank’s investor day on Monday, JPMorgan Operating Chief Daniel Pinto...
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How to Grease a Chatbot: E-Commerce Companies Seek a Backdoor Into AI Responses
When Andy Wilson’s company received its first successful client referral through ChatGPT, he was shaken to his core. The founder and CEO of Logikcull, a San Francisco–based legal technology company, Wilson “had the exact same reaction to ChatGPT as I had to the internet browser in the early ’90s,” he said. “But this time I knew it would be even bigger than...
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How Microsoft Swallowed Its Pride to Make a Massive Bet on OpenAI
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