Author: Gugu Lourie
Rand Merchant Bank (RMB) has announced a significant partnership with KOKO, a forefront player in climate technology. In this collaboration, RMB assumes the role of the lead mandated arranger and financier for an innovative carbon financing solution, aimed at advancing KOKO’s climate-centric goals. Across Africa, a staggering 900 million people rely on polluting fuels like charcoal for cooking, directly contributing to deforestation spanning millions of hectares. This practice also results in over 600,000 deaths annually due to household air pollution, and the emission of greenhouse gases on a scale comparable to the global aviation industry. Addressing this challenge necessitates a…
SAP, the German software company, has agreed to a settlement of approximately $222 million or R4 billion to conclude investigations into bribery schemes across seven countries, as announced by U.S. authorities on Wednesday. According to the U.S. Department of Justice, SAP has entered into a three-year deferred prosecution agreement to address criminal charges related to allegations of conspiring to bribe government officials in Indonesia and South Africa with the aim of securing business. SAP has additionally reached a correlated civil resolution with the U.S. Securities and Exchange Commission, settling charges related to purported bribery schemes in Azerbaijan, Ghana, Kenya, Malawi,…
In a significant move, Pravin Gordhan, South Africa’s Minister of Public Enterprises, is set to introduce a groundbreaking bill in parliament. The proposed legislation aims to establish a government-owned entity, the State Asset Management SOC Ltd., tasked with overseeing and managing a portfolio comprising at least 13 key state-owned enterprises. Outlined in an explanatory note dated January 9, as published in the Government Gazette, the National State Enterprises Bill lays the groundwork for the creation of the State Asset Management SOC Ltd. The bill outlines a phased transfer mechanism for the incorporation of various state enterprises into this central holding…
Walmart has revealed its intentions to delve deeper into the realm of artificial intelligence and drones with the aim of enhancing customer shopping experiences. During a keynote presentation at the CES trade show in Las Vegas on Tuesday, Walmart’s President and CEO, Doug McMillon, along with other executives, provided insight into how the retail behemoth is leveraging emerging technologies such as augmented reality (AR), drones, generative AI, and other artificial intelligence tools to enhance the overall shopping experience for its customers. Specifically, Walmart revealed a new GenAI-powered search experience now available to iOS customers. The enhanced search experience allows customers to now search…
At CES today, Intel unveiled its strategy to extend its AI everywhere initiative into the automotive sector, marked by the acquisition of Silicon Mobility, a fabless silicon and software company renowned for its expertise in System-on-Chips (SoCs) designed for intelligent electric vehicle (EV) energy management. In addition, Intel introduced a novel family of AI-enhanced software-defined SoCs for vehicle systems, with Zeekr being the inaugural original equipment manufacturer (OEM) to embrace the cutting-edge SoC for delivering generative AI-powered living room experiences in next-generation vehicles. “Intel is taking a ‘whole vehicle’ approach to solving the industry’s biggest challenges. Driving innovative AI solutions…
Meta has announced that it will automatically restrict the content visible to teen Instagram and Facebook accounts. Starting today, these accounts will be limited from accessing harmful content, including posts related to self-harm, graphic violence, and eating disorders. Meta added that it will start to hide more types of content for teens on Instagram and Facebook, in line with expert guidance. Furthermore, the company will also start prompting teens to update their privacy settings on Instagram in a single tap with new notifications. “We want teens to have safe, age-appropriate experiences on our apps. We’ve developed more than 30 tools…
Mercedes-AMG has unveiled a pioneering technology called MBUX SOUND DRIVE, aimed at redefining the driving experience by merging cutting-edge technology with artistic creativity. The German automaker has partnered with the multi-talented artist, innovator, and entrepreneur, will.i.am. The MBUX SOUND DRIVE employs advanced software to synchronise music with the car’s movements, establishing a seamless connection between driving dynamics and musical expression. By analysing various elements like recuperation, acceleration, steering, and braking through a sophisticated suite of sensors, MBUX SOUND DRIVE transforms the vehicle into a virtual musical instrument. “This revolutionary integration elevates the already exceptional Mercedes-AMG driving experience into a captivating…
Siemens and Amazon Web Services (AWS) are enhancing their collaboration, streamlining the development of generative artificial intelligence (AI) applications for businesses across diverse sectors and sizes. Professionals in engineering, manufacturing, logistics, insurance, and banking can now effortlessly create and enhance applications using state-of-the-art generative AI technology. “This is achieved through Siemens’ integration of Amazon Bedrock—a service providing access to high-performing foundation models from leading AI companies via a unified API, complete with security, privacy, and responsible AI features—with Mendix, the prominent low-code platform within the Siemens Xcelerator portfolio,” reads the statement. “By integrating Amazon Bedrock into our low-code platform, we…
The significance of artificial intelligence has become a focal point of discussion, particularly in the wake of the introduction of ChatGPT. This advanced technology prompts us to reflect on its potential impact across various industries. The question that arises is not just about the importance of artificial intelligence but also about the profound transformations it might bring to diverse sectors. As we navigate this era of rapid technological advancements, the implications of AI on industries are both intriguing and far-reaching. The deployment of AI, such as the capabilities exhibited by ChatGPT, raises fundamental questions about how businesses and sectors will…
Volkswagen, the German automaker, plans to integrate the artificial-intelligence-based chatbot ChatGPT into its models equipped with the IDA voice assistant. The German automaker announced Monday in a statement that it will be the first volume manufacturer to offer Chat GPT as a standard feature from the second quarter of 2024 in many production vehicles. The AI-driven chatbot, utilising Cerence’s Chat Pro product, is set to launch in the second quarter, initially debuting in Europe. The new chatbot is offered in conjunction with the latest generation of infotainment in the following models: ID.703, ID.4, ID.5, ID.3, the all-new Tiguan and the…