Amazon Pitches AI Tools as Co-Workers While Axing Jobs

Amazon has decided to discontinue its AI-generated video recaps for Prime Video shows following significant public backlash. The initiative aimed to provide viewers with quick summaries of episodes but faced criticism regarding its execution and quality. This decision reflects the company's response to negative feedback from users and the broader audience.

The UK economy faces potential contraction as growth declines ahead of Chancellor Rachel Reeves' tax-raising budget, prompting discussions on the role of the tech sector in economic recovery. British Business Bank CEO Louis Taylor emphasized the strength of fintech and AI in the UK during a conversation with Bloomberg's Ed Ludlow and Caroline Hyde.

Margie Patel, senior portfolio manager at Allspring Global Investments, expressed confidence regarding AI stocks despite recent concerns surrounding Oracle's delayed AI data center completions and Broadcom's earnings. She discussed these issues on Bloomberg Tech, emphasizing that the end-of-year jitters should not deter investment in AI technologies.

Broadcom's stock experienced its most significant decline in ten months after the company reported a sales outlook that fell short of investor expectations, raising concerns about its competitiveness in the AI chip market against rivals like Nvidia.

President Donald Trump signed an executive order aimed at preventing state-level regulations on artificial intelligence (AI) through legal actions and funding cuts, a move that has been welcomed by technology industry leaders advocating for a unified regulatory approach. David Sacks, the White House AI and Crypto Czar, discussed the implications of this order on Bloomberg Tech.

Visa Inc. has announced that artificial intelligence-assisted shopping will become increasingly prevalent in 2026, as partnerships between payment and AI companies are forming to enhance the competitive landscape. This shift is expected to redefine consumer experiences in retail.

Ireland has lifted a moratorium on new power connections for data centers around Dublin, providing clarity for the industry regarding the requirements for establishing new facilities. This decision marks a significant shift in policy, allowing for the expansion of data center infrastructure in the region.

Medra has successfully raised $52 million to enhance its capabilities in drug discovery through the use of artificial intelligence-powered robots, aiming to establish one of the largest autonomous laboratories in the United States. This funding will allow Medra to accelerate its research and development efforts in the pharmaceutical sector.