OpenAI and Reddit Join Forces: A New Era of AI-Integrated Discussion

Good Morning and Happy Friday!

On May 17th, 1792, the New York Stock Exchange was established by the signing of the Buttonwood Agreement by 24 stockbrokers and merchants. This agreement laid the foundation for the world's largest stock exchange, shaping the landscape of global finance for centuries to come. Now, as we look to the future, let's explore how AI is revolutionizing various industries, from finance to healthcare, and beyond.

TRACK HIGHLIGHTS
Article Takeaways

• Reddit & Open AI Partner-Up
• Kyndryl’s AI Innovations
• MIT Brother’s Blockchain Heist
• Lili Unveils AI Accountant
• NEC Pioneers AI-Powered Cloud

LAP 1 Featured Story
OpenAI and Reddit Join Forces: A New Era of AI-Integrated Discussion

• Collaboration announced between OpenAI and Reddit, granting OpenAI real-time access to Reddit's data API.
• Partnership to empower Reddit with AI-centric enhancements, as OpenAI gets a significant boost in advertising presence on the platform.
• Despite previous user protests over Reddit's changes, partnership remains undetermined.
• Unlike Reddit's previous deal with Google, the financial and data training terms of this partnership are not disclosed.

OpenAI has entered a partnership with Reddit to gain real-time access to its data API, a move that mirrors Reddit's earlier agreement with Google. This deal will allow OpenAI to integrate Reddit discussions into ChatGPT and future products, in addition to providing Reddit with the opportunity to introduce novel AI-driven features and applications using OpenAI's large language models. It's crucial to note that OpenAI will also serve as an advertising partner on Reddit.

However, the announcement's reception among Reddit users remains uncertain, given previous backlash against changes to Reddit's platform management and API pricing. In contrast to the Google deal, where Reddit explicitly agreed to facilitate more efficient model training, this agreement's financial aspects and data training commitments remain undisclosed. Yet, the partnership reinforces Reddit's status as a rich source of diverse and current discussions, which is likely to enhance ChatGPT's connectivity and user engagement. The partnership also raises questions about data scraping practices, as both Reddit and OpenAI have previously exhibited resistance toward unauthorized use of their data and assets.

LAP 2
Kyndryl is Revolutionizing Mainframe Modernization with AI Innovations

• Kyndryl introduces AI & generative AI services for mainframe modernization.
• Committed to educating over 5,000 mainframe professionals in AI skills.
• Supports mainframe transformation with AI tooling and operational insights.
• Helps optimize workloads, integrate applications, modernize, and enhance developer agility using AI.

Kyndryl, the leading IT infrastructure services provider, has unveiled groundbreaking AI and generative AI-based consulting and managed delivery services. These innovations aim to aid organizations in leveraging their mainframe application and data assets as part of their hybrid cloud transformation. Understanding the pivotal role the mainframe plays in global IT, Kyndryl is committed to educating its professionals in AI, furthering the adoption of transformative technologies. With 90% of organizations recognizing the mainframe's significance, Kyndryl's initiative addresses the growing demand for AI integration in hybrid cloud environments.

By tapping into AI tooling and operational insights, Kyndryl empowers customers to accelerate mainframe transformation projects effectively. Through comprehensive services, Kyndryl enables customers to optimize workloads, integrate applications, modernize systems, and enhance developer agility using AI, ultimately driving better outcomes in hybrid environments.

BRAIN TEASER
What has six faces, but does not wear makeup, has twenty-one eyes, but cannot see?

WALLSTREET PITSTOP
MIT Brothers' Crypto Caper: $25M Ethereum Heist Shakes Blockchain Integrity

• Brothers, MIT alumni, arrested for $25 million Ethereum blockchain fraud scheme.
• Scheme termed "novel" by prosecutors, marking first such case in U.S. criminal charges.
• Heist executed in April 2023, altering cryptocurrency transactions in just 12 seconds.
• Indicted for wire fraud, money laundering conspiracy; one arrested in Boston, the other in New York.

Two MIT-educated brothers, Anton Peraire-Bueno, 24, and James Peraire-Bueno, 28, have been apprehended for orchestrating a groundbreaking cryptocurrency fraud, per federal prosecutors. This innovative scheme, termed "novel" by authorities, marks the first instance of such fraud leading to U.S. criminal charges. The brothers swiftly executed their heist in April 2023, siphoning $25 million from cryptocurrency traders within a mere 12 seconds by manipulating pending transactions on the Ethereum blockchain. U.S. Attorney Damian Williams emphasized the threat posed to blockchain integrity by the defendants' actions, highlighting the seriousness of the case. The indictment alleges wire fraud, money laundering conspiracy, detailing a meticulously planned exploitation of Ethereum blockchain protocols over several months.

Lap 3
Lili Unveils Accountant AI for Instant Financial Insights

• Lili introduces Accountant AI, a generative AI chatbot for small business financial management.
• Provides instant, personalized financial recommendations based on businesses' data and industry insights.
• Addresses the burden on small business owners by offering affordable, accessible accounting support.
• Utilizes training, industry updates, and human expertise to deliver insightful financial advice to users.

Lili, a financial platform catering to small business owners, has launched Accountant AI, a cutting-edge generative AI tool designed to alleviate the financial management burden faced by small businesses. Often, small business owners handle their finances without professional assistance, leading to time constraints and potential errors. Accountant AI revolutionizes this landscape by offering personalized financial advice instantly, empowering business owners to make informed decisions and enhance profitability. By leveraging a combination of user data, industry insights, and human expertise, Accountant AI sets itself apart from other AI chatbots, ensuring comprehensive and reliable support for users. With robust privacy measures in place, including a partnership with Amazon Bedrock, Lili ensures the security of users' data. Accountant AI represents the next evolution of Lili's AI capabilities, offering accessible and affordable financial guidance tailored to the needs of small businesses.

FUN FACT STOP
The Earl of Sandwich, John Montagu, who lived in the 1700s, reportedly invented the sandwich so he wouldn’t have to leave his gambling table to eat.

LAP 4
NEC Leverages AI in Groundbreaking Cloud Migration

• NEC is adopting SAP S/4HANA Cloud with a clean-core approach to reduce costs and streamline operations.
• NEC is utilizing generative AI and SAP's Joule copilot for automated and efficient cloud migration.
• This move is part of NEC's 2025 plan, aiming for improved efficiency and market responsiveness through AI.

NEC, a Japanese tech leader, is set to embark on a digital transformation by migrating from on-premise SAP S/4HANA software to its cloud counterpart, using a clean-core approach to reduce costs and enhance integration. With the aid of generative AI and SAP's Joule copilot, NEC plans to automate critical processes, making it one of the first to use AI tools from SAP for migration. This move is part of NEC's 2025 mid-term management plan, aiming to leverage AI for more efficient system operations, quicker market responsiveness, and driving societal and industry transformations.

FINAL LAP - FINANCE & THE STOCK MARKET
Workplace Shakeups Continue and There’s More to the Revival of the Meme Stocks

• Vanguard Group tapped a former BlackRock executive as its next leader, putting an outsider in charge of the asset manager for the first time in its roughly 50-year history.

• Under Armour is laying off workers as retailer says North America sales will plunge this year.

• 'Someone played this beautifully': Why one expert is suspicious of the latest meme-stock revival

• Tesla stock is dropping Thursday, but don’t blame a class-action lawsuit for the decline. The company continues to sit out the stock market rally.

BRAIN TEASER ANSWER

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