Getty Images filed a pre-negotiated Chapter 11 case in Delaware on October 21. Its filing blames warrants, the failed merger with Shutterstock and debt, with pressure from generative AI ranked fourth and mostly affecting iStock.
MIT Technology Review points to a cost of AI that executives tend to overlook: data storage. Billions of daily prompts, images and videos leave behind back-end data that has to be kept somewhere after a model responds.
Barclays plans to cut 5,000 jobs, about 5% of its 93,000 staff worldwide, as part of cost savings its executives attribute to advances in AI. The bank has already shed 1,000 workers since the start of the year, and announced the cuts alongside a rise in quarterly profit.
Enterprise AI can recommend actions, automate tasks and speed up decisions, but models that do not understand how a business really works can miss the constraints that make a decision right or wrong. MIT Technology Review argues this is the key challenge as companies move AI from trials into daily operations.
Tesla's profit fell 43% and its margins are shrinking as the carmaker speeds up its shift toward AI and robotics. Presse-citron concludes that cars are clearly no longer the company's priority.
In an op-ed, Marjorie Bicaïs, head of search and media advertising at CyberCité, describes ChatGPT opening its interface to ads as the topic dominating digital marketing for weeks. Agencies such as CyberCité have started working with the new format.