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AI & Enterprise

Starbucks ditches AI inventory system as AI-driven layoffs spread

Starbucks has withdrawn a computer vision-based automated inventory management system from more than 11,000 stores after it miscounted stock and worsened shortages, Forbes reported. Staff returned to manual work. Forbes said companies replacing workers with AI are also removing AI that fails to replace people. It cited recent layoffs at Meta, Intuit and others, while companies also say they lack talent able to use AI tools in day-to-day work.

AI & Enterprise

Intuit to cut 17 percent of full-time staff as growth slows

Tax and accounting software company Intuit will cut 17 percent of its full-time staff, CNBC reported on May 20. The restructuring will affect more than 3,000 people, and the company’s shares fell 11 percent in after-hours trading after the announcement. Intuit said the layoffs will result in charges of $300 million to $340 million, most of which will be recorded in the current quarter. CEO Sasan Goodarzi said the move aims to build growth drivers and create a faster-moving organization.

AI & Enterprise

OpenAI adds personal finance tools to ChatGPT, connects more than 12,000 financial accounts

OpenAI has rolled out a preview version of personal finance tools for U.S. ChatGPT Pro subscribers, TechCrunch reported. Users can link bank and brokerage accounts and ask ChatGPT questions ranging from spending analysis to future financial planning. The feature works on the web and iOS and uses Plaid to connect accounts at more than 12,000 institutions. Users can also disconnect accounts and have synced data deleted within 30 days.