Stay Informed with OWITH.ai: Your Daily Dose of AI and Tech Updates

Good morning from OWITH.ai: the podcast that gives you only what's important to hear in AI and tech world.Ares Management, a top alternative asset manager, is aiming to grow to $750 billion in assets under management by 2028. Specializing in private credit and funding buyouts of middle market companies, Ares plays a significant role in shaping how money moves in the economy. Despite less name recognition than other venture capital firms, Ares' unique structure of a CEO and two co-presidents is leading its next era of growth. Critics argue about the lack of transparency in private credit, but firms like Ares are offering new vehicles like ETFs and tokenized funds for everyday investors. Ares executives are also making waves in the sports world, with three among the new Baltimore Orioles leadership group.Moving on to the ongoing debate between Apple and app developers on online age verification, both sides seem to be avoiding responsibility. Recent developments in the AI industry include Alibaba's new models, Huawei's AI hardware, Amazon's Alexa+ service, Google's virtual dressing room tool, and Fortune's new AIQ series exploring AI's impact on various industries. Other tech news includes Meta's new chief AI scientist, a SharePoint hack, and a hack of the women's app Tea.In international news, the European Union has signed a trade deal with the United States, involving a 15% tariff rate on E.U. products excluding pharmaceuticals and metals. The agreement also includes significant investment in the U.S. from the E.U. and the purchase of U.S. energy. This deal has caused European stocks to rise, although some analysts are skeptical about its benefits for various countries involved. Meanwhile, Intel CEO announced layoffs for about 15% of the company's workforce, reflecting a trend where CEOs are praised for cost-cutting measures through layoffs and attrition. Google's earthquake warning system in Turkey failed during a recent earthquake, raising concerns about its effectiveness.In the market, S&P 500 futures were up 0.31%, with positive trading in Europe and Asia. Analysts from Deutsche Bank and Goldman Sachs shared insights on U.S. negotiations with China and the upcoming Fed meeting. The speed of change in artificial intelligence was a key topic at a recent conference in Singapore, where leaders discussed AI's impact on the future of work and global inequality.That's all for today from OWITH.ai: your source for the essential news in AI and tech.

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