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S&P Global Introduces a Novel Artificial Intelligence Benchmark for the Financial Sector

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The debut of S&P AI Benchmarks by Kensho was discreetly announced by S&P Global, a prominent supplier of financial intelligence, on Wednesday. Large language models (LLMs) are used in complex financial and quantitative applications, and this creative solution seeks to establish a new benchmark for assessing LLM performance.

Created by Kensho, S&P Global’s AI-focused division, the benchmarking tool evaluates an LLM’s proficiency in tasks like quantitative reasoning, extracting data from financial documents, and proving domain-specific knowledge. Each model’s capabilities are transparently shown after the results are shown on a leaderboard.

According to Bhavesh Dayalji, CEO of Kensho and Chief AI Officer for S&P Global, “S&P AI Benchmarks combined Kensho’s cutting-edge AI research and engineering with S&P Global’s leading financial intelligence capabilities” in a VentureBeat interview. “We hope that the solution spurs more innovation in the FinAI space and becomes the industry standard for understanding how LLMs perform on complex financial reasoning.”

As more financial services organizations investigate the possibilities of generative AI and LLMs to improve efficiency and gain a competitive edge, the introduction of S&P AI Benchmarks is timely. Unfortunately, organizations find it difficult to evaluate which models are best suited for their particular use cases due to the absence of established benchmarks.

Encouraging Creativity and Thoughtful Judgment

According to Dayalji, “benchmark solutions like ours are critical to helping institutions and professionals across our industry determine which LLMs they should be using for their specific use cases.” In addition, “we think that S&P AI Benchmarks will spur innovation by assisting financial professionals in determining where each model excels and where it can bring the greatest benefit.”

Engineers, researchers, academics, and financial professionals from all of S&P Global’s divisions made up the diverse team of experts who developed and validated the S&P AI Benchmarks methodology. An LLM’s performance in three important categories is rigorously tested by the 600 questions that make up the evaluation set.

A Milestone for AI Adoption in Finance

The introduction of S&P AI Benchmarks, according to industry analysts, may represent a critical turning point in the financial sector’s adoption of AI. With increasingly sophisticated AI influencing the financial sector, companies will need a trustworthy and transparent benchmarking tool to help them choose which models to use. The FinAI space may see innovation spurred by S&P Global’s solution, which could also hasten the responsible adoption of LLMs.

S&P Global believes that S&P AI Benchmarks will be instrumental in influencing how AI will develop in the financial services industry going forward. “Our goal is for LLMs to become more efficient and better tailored to the demands of all the industries we serve, and our solutions will help us get there,” Dayalji stated. “In order for us to keep improving our framework, we encourage participation from all model providers.”

Tools like S&P AI Benchmarks by Kensho, which help organizations harness the power of AI and generative AI while ensuring accuracy, transparency, and responsible deployment, are poised to become indispensable guides as the financial industry navigates the rapidly evolving landscape of these technologies.

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Threads uses a more sophisticated search to compete with Bluesky

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Instagram Threads, a rival to Meta’s X, will have an enhanced search experience, the firm said Monday. The app, which is based on Instagram’s social graph and provides a Meta-run substitute for Elon Musk’s X, is introducing a new feature that lets users search for certain posts by date ranges and user profiles.

Compared to X’s advanced search, which now allows users to refine queries by language, keywords, exact phrases, excluded terms, hashtags, and more, this is less thorough. However, it does make it simpler for users of Threads to find particular messages. Additionally, it will make Threads’ search more comparable to Bluesky’s, which also lets users use sophisticated queries to restrict searches by user profiles, date ranges, and other criteria. However, not all of the filtering options are yet visible in the Bluesky app’s user interface.

In order to counter the danger posed by social networking startup Bluesky, which has quickly gained traction as another X competitor, Meta has started launching new features in quick succession in recent days. Bluesky had more than 9 million users in September, but in the weeks after the U.S. elections, users left X due to Elon Musk’s political views and other policy changes, including plans to alter the way blocks operate and let AI companies train on X user data. According to Bluesky, there are currently around 24 million users.

Meta’s Threads introduced new features to counter Bluesky’s potential, such as an improved algorithm, a design modification that makes switching between feeds easier, and the option for users to select their own default feed. Additionally, it was observed creating Starter Packs, its own version of Bluesky’s user-curated recommendation lists.

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Apple’s own 5G modem-equipped iPhone SE 4 is “confirmed” to launch in March

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Tom O’Malley, an analyst at Barclays, recently visited Asia with his colleagues to speak with suppliers and makers of electronics. The analysts said they had “confirmed” that a fourth-generation iPhone SE with an Apple-designed 5G modem is scheduled to launch near the end of the first quarter next year in a research note they released this week that outlines the main conclusions from the trip. That timeline implies that the next iPhone SE will be unveiled in March, similar to when the present model was unveiled in 2022, in keeping with earlier rumors.

The rumored features of the fourth-generation iPhone SE include a 6.1-inch OLED display, Face ID, a newer A-series chip, a USB-C port, a single 48-megapixel rear camera, 8GB of RAM to enable Apple Intelligence support, and the previously mentioned Apple-designed 5G modem. The SE is anticipated to have a similar design to the base iPhone 14.

Since 2018, Apple is said to have been developing its own 5G modem for iPhones, a move that will let it lessen and eventually do away with its reliance on Qualcomm. With Qualcomm’s 5G modem supply arrangement for iPhone launches extended through 2026 earlier this year, Apple still has plenty of time to finish switching to its own modem. In addition to the fourth-generation iPhone SE, Apple analyst Ming-Chi Kuo earlier stated that the so-called “iPhone 17 Air” would come with a 5G modem that was created by Apple.

Whether Apple’s initial 5G modem would offer any advantages to consumers over Qualcomm’s modems, such quicker speeds, is uncertain.

Qualcomm was sued by Apple in 2017 for anticompetitive behavior and $1 billion in unpaid royalties. In 2019, Apple purchased the majority of Intel’s smartphone modem business after the two firms reached a settlement in the dispute. Apple was able to support its development by acquiring a portfolio of patents relating to cellular technology. It appears that we will eventually be able to enjoy the results of our effort in four more months.

On March 8, 2022, Apple made the announcement of the third-generation iPhone SE online. With antiquated features like a Touch ID button, a Lightning port, and large bezels surrounding the screen, the handset resembles the iPhone 8. The iPhone SE presently retails for $429 in the United States, but the new model may see a price increase of at least a little.

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Google is said to be discontinuing the Pixel Tablet 2 and may be leaving the market once more

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Google terminated the development of the Pixel Tablet 3 yesterday, according to Android Headlines, even before a second-generation model was announced. The second-generation Pixel Tablet has actually been canceled, according to the report. This means that the gadget that was released last year will likely be a one-off, and Google is abandoning the tablet market for the second time in just over five years.

If accurate, the report indicates that Google has determined that it is not worth investing more money in a follow-up because of the dismal sales of the Pixel Tablet. Rumors of a keyboard accessory and more functionality for the now-defunct project surfaced as recently as last week.

It’s important to keep in mind that Google’s Nest subsidiary may abandon its plans for large-screen products in favor of developing technologies like the Nest Hub and Hub Max rather than standalone tablets.

Google has always had difficulty making a significant impact in the tablet market and creating a competitor that can match Apple’s iPad in terms of sales and general performance, not helped in the least by its inconsistent approach. Even though the hardware was good, it never really fought back after getting off to a promising start with the Nexus 7 eons ago. Another problem that has hampered Google’s efforts is that Android significantly trails iPadOS in terms of the quantity of third-party apps that are tablet-optimized.

After the Pixel Slate received tremendously unfavorable reviews, the firm first declared that it was finished producing tablets in 2019. Two tablets that were still in development at the time were discarded.

By 2022, however, Google had altered its mind and declared that a tablet was being developed by its Pixel hardware team. The $499 Pixel Tablet was the final version of the gadget, which came with a speaker dock that the tablet could magnetically connect to. (Google would subsequently charge $399 for the tablet alone.)

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