The Memo is taking a break for the next two weeks — we’ll miss you! We’ll be back in your inbox on Sept. 3.
Hello, Memo readers!
Suggested Reading
Trump Media stock falls 7% after revealing another quarterly loss
Suggested Reading
Last week we wrote about how employees that don’t get AI training are starting to go rogue with the technology.
It looks like that’s something finance firm S&P Global is trying to avoid. The ratings and analytics company is partnering with consulting firm Accenture to train its staff — all 35,000 of them — to use generative artificial intelligence.
The “comprehensive gen AI learning program” starts this month. The bootcamp is part of S&P Global’s effort to address the financial service industry’s growing reliance on AI and AI talent, and give its employees the tools to leverage generative AI.
The two firms are also collaborating on AI development and benchmarking across the entire financial services industry as it builds out and relies on large language models (LLMs). LLMs are a type of AI that are trained to understand and generate original content. One forthcoming study out of the University of Chicago Booth School of Business suggests that these models are able to outperform some financial analysts in predicting the direction of future earnings.
Read more about AI training here.
Business travel has long COVID
The classic business-class road warrior has been keeping it in park. Though corporate business travel is expecting to surpass pre-COVID-19-levels on a nominal basis this year, the Financial Times reports that the Global Business Travel Association doesn’t expect inflation-adjusted spending to hit 2019 levels again until 2027.
Suzanne Neufang, the group’s CEO, told the newspaper that “inflationary pressures and other things means [travel companies] are making more money on fewer trips” and that “the way companies travel is different,” resulting in “a new normal and that is probably here to stay.” Read about why things won’t change for a while.
More from Quartz
🤓 The 10 most expensive colleges in America
🤖 Big Tech earnings proved the AI hype is real, analyst says
😮💨 The much-feared American recession isn’t coming, Bank of America chief says
🤑 Cheap airlines are acting expensive to better compete in a new industry landscape
🐱 The rising trend of pet wills
You got the Memo
Send questions, comments, and business lounge access to [email protected]. This edition of The Memo was written by Rocio Fabbro, Melvin Backman, and Morgan Haefner.
