Feet on the Ground vs. Head in the Clouds

[Randy W]

Ant Group inks strategic partnership with Shanghai to help the city’s AI ambitions

• The partnership signing ceremony was attended by Shanghai Mayor Gong Zheng and Eric Jing Xiandong, chairman and chief executive at Ant
• Alipay, the group’s mobile payment service operator, has established its global headquarters in Shanghai and will increase its R&D investment there

 

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Under the partnership, Ant Group, the Alibaba Group Holding fintech affiliate, will “actively participate in building [an] artificial intelligence industry ecosystem and blockchain innovation platform in Shanghai”, according to a statement published on Wednesday. Alibaba owns the South China Morning Post.

The partnership signing ceremony was attended by Shanghai Mayor Gong Zheng and Eric Jing Xiandong, chairman and chief executive at Ant.

The deal is the latest example of a Big Tech firm in China supporting the state’s technology priorities. Ant Group, which called off a mega initial public offering in Shanghai and Hong Kong in late 2020, has undergone a reorganisation and ownership change to satisfy regulatory demands.

 

 

 

[Randy W]

Apple never formally announced Project Titan, and now it appears it may never have to.

https://www.facebook.com/share/5nuMLNMwDhZfPPFX/?mibextid=oFDknk

Who Killed the Electric Car? Apple, This Time
Apple has finally given up on building its own car, according to multiple reports.

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The news comes courtesy of Bloomberg, citing people close to the matter. Roughly 2,000 people were employed on Project Titan, and it's reported those who can will now move to Apple's endeavors in generative AI. Just last month, the car's development reached a "make or break" point, according to Bloomberg, and Apple shoved off Titan's launch by two more years, to 2028. It's unclear if layoffs will follow today's developments, though the iPhone maker counted plenty of automotive engineers and designers among its ranks to make its first car a reality, and their skill sets may not be needed within the company anymore.