AI21 Labs raises $64M to help it compete against OpenAI

AI21 Labs has raised $64 million in funding to compete with OpenAI and other NLP leaders. NLP (Natural Language Processing) competition is heating up. With its GPT-3 model, OpenAI is now regarded as the industry leader, although competitors are gaining traction. AI21 Labs is regarded as one of the most promising candidates by investors. “We completed this round during a period of market uncertainty, which highlights the confidence our investors have in AI21’s vision to change the way people consume and produce information,” said Ori Goshen, Co-Founder and Co-CEO of…

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Meta tells managers to identify low performers, employees fear layoffs

Meta has apparently requested company managers to identify poor performers, just weeks after the company warned of difficult times ahead. Some Meta employees are concerned about losing their jobs soon, while others are concerned about mass layoffs later. According to reports, Mahar Saba, Meta’s VP for Remote Presence, has directed managers to identify team members who “require care.” Saba has also reportedly instructed managers to “move to exit” under-performers and those “who are unable to get on track.” In the meantime, Meta rival Google is also slowing down hirings this…

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Google to slow down hiring for the rest of 2022

Google is slowing down hiring processes for the rest of 2022. Google will continue to support its “most significant opportunities,” according to a memo from CEO Sundar Pichai to staff published by The Verge, and will focus on hiring engineering, technical, and other vital roles. Pichai’s memo comes only weeks after Meta announced similar restrictions after failing to meet revenue expectations. Google has historically been somewhat resilient to economic uncertainty, and its subsidiary company YouTube performed well in Q4 2020 – the first year of the COVID-19 epidemic. Its ad…

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TCS launches its 5th global research and innovation centre in Toronto

Tata Consultancy Services (TCS) launched TCS Pace Port Toronto, its fifth global research and co-innovation centre. Pace Port Toronto, which spans 16,000 square feet, gives businesses access to the latest technologies and “breakthrough thinking” from TCS Research labs, start-ups, VCs, entrepreneurs, and academia – including the University of Toronto – as well as TCS’ network of Pace Ports in New York, Pittsburgh, Amsterdam, and Tokyo, according to a company statement on Wednesday. “By connecting to this collective ecosystem of innovators and intellectual property via TCS’ Co-Innovation Network (COINTM), Canadian companies…

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