An adjustment, not a shock
The most important trend in finance in the past 40 years is the emergence of winner-take-all industry structures in technology. We live in a world of network effects and increasing returns to scale. In industries from PC software , internet search , online retail and social media to high-end consumer hardware , most of the profits and market share have gone to one company.
The biggest tech companies looked more or less insulated from competition on AI because, it was assumed, the only way to build a better AI model was to train it with more inputs using more computing power, at huge expense. The finished model would then be under the control of the big company that built it. The barrier to entry was money — that is why Big Tech has gone on a data centre spending spree. But R1 suggests that companies with less money can soon operate competitive models.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Black Sabbath honour 'means a lot' to Ozzy OsbourneThe founding members of Black Sabbath are set to receive the Freedom of Birmingham.
Read more »
Wage growth rises as unemployment rate ticks up – what it means for your money...Everything you need to know about the latest minimum wage changes
Read more »
Marquez: 'Dream Team' Means Championship Glory, Eyes Top Three FinishMarc Marquez, the newly signed Ducati Lenovo rider, has set his sights on a championship title, emphasizing that a 'dream team' only truly exists when victories are achieved. During the team launch, Marquez engaged in a playful exchange with teammate Francesco Bagnaia, highlighting the team's ambition to fight for the top spot. Marquez acknowledged Bagnaia's formidable talent and past successes, but he expressed confidence in his own abilities and the potential of the new Ducati bike.
Read more »
Lewis Hamilton “means business” verdict as he makes Ferrari F1 debutCan Lewis Hamilton deliver a record-breaking eighth F1 world title with Ferrari in 2025?
Read more »
Businessman means business: Donald Trump back in White HousePresident Trump feels more emboldened than before. He and his team have successfully framed his 2024 win as a landslide, with a mandate to go more boldly and brashly than he did before.
Read more »
Driving two cars in the Rolex 24 means twice the chaos, as Kyle Kirkwood explainsWhen the IndyCar driver takes on double duty this weekend by driving both the No. 14 GTD Pro and No. 12 GTD cars, he'll have to remember which car is which.
Read more »