Tech
Investors: Is this sector the one to watch? | ticker VIEWS
Money is pouring into the US stock market at the fastest pace since 2015.
This can’t and won’t last forever.
With valuations sitting close to all-time highs, and investors starting to predict higher inflation will push the US Federal Reserve to tighten monetary policy, let’s prepare for what happens next.
A combination of timing and changing consumer needs could see one sector offer huge potential:
“Our prediction is that over the next few years food tech, that is the convergence of food and tech to create new products, will become the most important growth sector. Not just for investors but for humanity.”
Steven Maarbani, VentureCrowd CEO
What role are consumers playing?
“Last year global food tech startups raised 26 billion US dollars. That was a 35% increase on the year before. The global food tech sector is currently forecast to grow to up to 346 billion US by 2027. Now that’s a massive rate of growth” according to Maarbani.
So why does the food and agriculture industry need fixing anyway?
Maarbani says it has a little something to do with our lives.
“The industrialisation of food has been driven far more by prioritising low cost food and economic development than the health and weakness of consumers on the planet.”
“75% of the western diet is composed of wheat. Sugar represents 20% of our daily energy intake. Now those ingredients might make good economic sense at a production level. But they’re literally killing us.”
There’s also a growing trend for conscious investing. We want great returns no doubt, but we want business to matter and take the world forward.
We know there’s a link between what we eat and obesity, diabetes, cancer and Alzheimer’s disease.
If we combine these innovations in food tech, and our growing awareness around food education, it could reduce the overall burden of these health related issues. And that saves big money.
According to a report by Google and Boston Consulting Group there are a number of factors contributing to the growth of the industry.
The Indian food-tech industry is set for compound annual growth of 25-30 per cent to USD 8 billion by the end of 2022. Why? The rise of internet penetration, increasing number of orders and consumer disposition are all playing their part.
“Riding on the wave of higher consumption in a growing market and maturing dynamics on the supply side, we expect the industry to grow from USD 4 billion to USD 8 billion in the next three years, a massive 25 per cent growth rate,” the report titled ‘Demystifying the Online Food Consumer’ said.
And according to Maarbani, Covid-19 has played a role “I really think the last 18 months around Covid, the importance of health and wellness and lockdown has fuelled a lot of that.”
Tech
Airbus A320 fleet faces software upgrade due to risk
Airbus alerts A320 operators to urgent software fix after JetBlue incident raises safety concerns
Airbus alerts A320 operators to urgent software fix after JetBlue incident raises safety concerns
– Airbus warns over half of A320 fleet needs software fixes due to potential data corruption risks.
– Affected airlines must complete upgrades before next flights, with operational disruptions anticipated during a busy travel season.
Airbus has issued a warning regarding its A320 fleet, indicating that over half of the active jets will require a software fix.
It follows a recent incident involving a JetBlue Airways aircraft, where “intense solar radiation” was found to potentially corrupt data crucial for flight control system operation.
The European plane manufacturer stated that around 6,500 jets may be affected. A regulation mandates that the software upgrade must occur before the next scheduled flight.
Operational disruptions for both passengers and airlines are anticipated. The issue arose from an incident on October 30, where a JetBlue flight experienced a computer malfunction that resulted in an uncommanded descent. Fortunately, no injuries occurred, but the malfunction of an automated computer system was identified as a contributing factor.
Airlines, including American Airlines Group, have begun to implement the required upgrades.
The majority of affected jets can receive an uncomplicated software update, although around 1,000 older models will necessitate an actual hardware upgrade, requiring grounding during maintenance.
Hungarian airline Wizz Air has also initiated necessary maintenance for compliance, potentially affecting flights. This announcement has surfaced during a busy travel season in the US, with many facing delays due to other factors as well.
Regulatory Response
The European Union Aviation Safety Agency has mandated that A320 operators replace or modify specific elevator-aileron computers. The directive follows the JetBlue incident, where a malfunction led to a temporary loss of altitude.
Airbus’s fix applies to both the A320 and A320neo models, representing a vital response in ensuring aircraft safety.
Tech
China blocks ByteDance from using Nvidia chips in new data centres
China blocks ByteDance from using Nvidia chips, tightening tech control and pushing for domestic AI innovation amid U.S. restrictions.
China blocks ByteDance from using Nvidia chips, tightening tech control and pushing for domestic AI innovation amid U.S. restrictions.
Chinese regulators have moved to block ByteDance from deploying Nvidia chips in newly built data centres, tightening control over foreign technology used by major Chinese tech giants. The decision comes after ByteDance made substantial purchases of Nvidia hardware amid fears of shrinking supply from the United States.
Washington has already restricted the sale of advanced chips to China, allowing only weakened versions into the market. Beijing’s latest move reflects its push to reduce dependence on U.S. technology and accelerate home-grown AI innovation.
The ban places operational and financial pressure on ByteDance, which must now work around a growing pile of Nvidia chips it is no longer allowed to use. Domestic suppliers like Huawei are expected to step in as China intensifies its pursuit of tech self-reliance.
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Tech
OpenAI launches shopping research tool for ChatGPT users
OpenAI launches shopping research tool to enhance e-commerce experience ahead of holiday season spending boost
OpenAI launches shopping research tool to enhance e-commerce experience ahead of holiday season spending boost
– OpenAI’s “shopping research” tool helps users find detailed shopping guides tailored to their preferences.
– Users can access Instant Checkout for purchases while ensuring user chats are not shared with retailers.
Users can customise their guides based on budget, features, and recipients. OpenAI notes that while the tool takes a few minutes to generate responses, users can still use ChatGPT for quicker queries like price checks.
When users ask specific prompts, such as finding a quiet cordless stick vacuum or a gift for a niece who loves art, the shopping research tool will appear automatically. It can also be accessed via the menu.
Shopping Research
OpenAI has been expanding its e-commerce capabilities, with the introduction of the Instant Checkout feature in September, enabling purchases directly through ChatGPT.
Soon, users of the shopping research tool will also be able to use Instant Checkout for making purchases.
OpenAI assures that shopping research results are derived from publicly available retail websites and will not disclose user chats to retailers, although it does warn that inaccuracies may occur in product availability and pricing.
Shopping research is now available to OpenAI’s Free, Go, Plus, and Pro users logged into ChatGPT.
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