Banco de Crédito del Perú (BCP), a leading financial institution in Peru, is undergoing a major digital transformation with a $650 million investment over five years. Partnering with Microsoft and Kyndryl, BCP aims to modernize its IT systems with hybrid cloud solutions, enhance the digital customer experience, and expand financial inclusion in Peru. This initiative positions Peru as a leader in technological innovation in Latin America.
Alphabet Inc.’s (GOOGL) Google is gaining a competitive edge in the cloud computing market thanks to its investment in custom-designed chips. These chips, second only to NVIDIA’s (NVDA) in performance, are driving down costs and boosting the cloud division’s margins. This strategy is key to Google’s success in the hyper-scale cloud market against rivals like Amazon Web Services (AWS) and Microsoft Azure.
The US Secret Service has quietly invested over $50,000 in Microsoft Azure and OpenAI’s cloud services, signaling a move towards AI-powered operations. However, the agency is refusing to disclose the specifics of its AI plans, leaving the public to speculate about the potential applications of this technology in protecting high-profile individuals.
Ola co-founder Bhavish Aggarwal announced that the EV maker will move its workload from Microsoft Azure to its own Krutrim cloud after LinkedIn deleted several of his posts criticizing neutral pronouns. Aggarwal’s decision stems from his belief that the pronouns issue is a “woke political ideology of entitlement” that does not belong in India. LinkedIn’s actions have led him to conclude that the platform presumes Indians need to have pronouns in their lives and cannot criticize it.
Microsoft has updated its policies to prohibit U.S. police departments from utilizing generative AI through Azure OpenAI Service. The ban covers integrations with text- and speech-analyzing models, as well as real-time facial recognition technology on mobile cameras in public settings. The move follows concerns raised about potential risks, including inaccuracies and biases introduced by generative AI.
Microsoft has released Phi-3-mini, the first in a series of compact AI models designed for practical applications. Despite its smaller size (3.8 billion parameters), Phi-3-mini exhibits capabilities comparable to larger language models (LLMs) like GPT-3.5. This miniaturization makes it cost-effective and ideal for use on personal devices. Microsoft’s innovative training approach, inspired by how children learn, has contributed to Phi-3-mini’s impressive performance.
Microsoft is set to release its quarterly earnings report, revealing its progress in the cloud computing industry. The company has invested heavily in generative AI services, attracting businesses seeking to enhance their operations. These services, including Microsoft’s Copilot, have set the company apart in the market. Microsoft’s AI strategy is expected to contribute to its Azure cloud computing service’s growth. Analysts predict a surge in Azure’s performance, while Amazon’s revenue may show a decline. However, it is anticipated that the full impact of AI on cloud providers will manifest in the coming years.
Microsoft has unveiled Phi-3-mini, a cost-effective AI model designed for smaller datasets. Despite its reduced size, Phi-3-mini exhibits impressive performance in language processing, coding, and mathematical abilities, surpassing models double its size in various benchmarks. This compact model is particularly beneficial for organizations with limited resources, enabling them to harness AI capabilities for tasks like document summarization, extracting insights from research reports, and creating social media posts. Phi-3-mini is now available on Microsoft’s Azure AI model catalog, Hugging Face, and Ollama, simplifying its adoption and use.
