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  • 🤖 Amazon’s Q AI Isn’t A Competitor (Yet)

🤖 Amazon’s Q AI Isn’t A Competitor (Yet)

Plus: 😬 Spotify Wraps Latest Layoffs, 🪙 Bitcoin Isn’t Dead

🤖 Amazon's AI Reportedly Suffering "Severe Hallucinations"

Amazon’s new AI chatbot, Q, seems to be having a bit of a rocky start.

According to leaked documents obtained by Platformer, Q is reportedly suffering from "severe hallucinations" and is actively "leaking confidential data."

Despite Amazon’s denial of these claims, the incident, marked as “sev 2,” suggests serious issues.

The chatbot, aimed at businesses, reportedly disclosed the locations of Amazon’s Web Services data centers and unreleased features.

This comes as a concern as businesses have traditionally been cautious about leaking sensitive information to chatbots. The issue also casts a shadow over Amazon’s efforts to compete in the AI race against rivals like Microsoft and Google.

😬 Spotify Lays Off 1,500 as Revenues Climb

Despite seeing profits and user numbers on the rise, Spotify has decided to cut its global staff by 17%, which is over 1,500 people.

The layoffs come as a surprise given Spotify’s recent financial success, with an 11% year-over-year increase in total revenue and a significant rise in user numbers.

However, Ek notes the company was “more productive but less efficient,” leading to the decision that “being lean is… a necessity.”

Laid-off staff will receive an average of five months’ severance and healthcare coverage. This follows two previous rounds of layoffs this year and a price increase for ad-free subscriptions.

🪙 Bitcoin Hits Highest Level in 18 Months as Investors Gear Up for ETF Approval

Bitcoin, the digital gold, is back in the limelight, hitting a high note of $40,000, its best performance in 18 months.

This surge is attributed to investors’ anticipation of a lower interest rate environment and potential regulatory approvals that could mainstream the cryptocurrency.

This rally comes despite recent scandals in the crypto world, including the resignation of Binance’s CEO, Changpeng Zhao, following money-laundering charges, and the conviction of FTX co-founder Sam Bankman-Fried for fraud.

Despite these setbacks, Bitcoin has seen a 150% increase this year.

The market is eagerly awaiting the Securities and Exchange Commission’s decision on the approval of a Bitcoin-focused exchange-traded fund (ETF), which would allow traditional investors to gain exposure to Bitcoin without owning it.

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