RO-AR.com – Reading this week

AI Simulations Accurately Mimic Human BehaviourResearchers used AI to replicate the behaviours of 1,000 individuals, raising ethical concerns about the implications of such technology. Read moreFCA Proposes Extended Deadlines for Car Finance ComplaintsThe FCA plans to give lenders up to a year to handle a surge in complaints following a significant court ruling. Read moreUK House Prices Reach Record LevelsHalifax reports record-breaking house prices despite broader economic challenges. Read moreAsda to Reduce Workforce and Hybrid Work ArrangementsAsda announces job cuts and adjustments to its hybrid working… Read more

Anti-fraud tool expands to more firmsThe Payment Systems Regulator extends the Confirmation of Payee service to hundreds more companies to tackle rising fraud losses. Read more Retail confidence rises ahead of holidaysWith Christmas nearing, consumer confidence in retail is beginning to improve, suggesting increased seasonal spending. Read more Sainsbury’s divests Argos card portfolioSainsbury’s sells its Argos card portfolio to NewDay for £720 million, refocusing on core operations. Read more Barclays finalises Tesco Bank acquisitionBarclays completes the £600 million acquisition of… Read more

Microsoft AI Revenue Surges to $10 Billion MilestoneMicrosoft’s AI business is on track to reach a $10 billion annual run rate in record time, driven by significant enterprise adoption. read more OpenAI Integrates Web Search to Challenge GoogleOpenAI’s ChatGPT now features live web search capabilities, directly challenging Google’s dominance in online search. read more Amazon Eyes Generative AI for Long-Term GrowthAmazon identifies generative AI as a primary growth area, investing heavily in cloud infrastructure to support this sector. read more… Read more

Government to regulate BNPL firms by 2026 The UK government has announced plans to regulate Buy Now, Pay Later services by 2026 to protect consumers from mounting debt read more.13% of millennials plan to put Christmas on credit A significant portion of millennials intend to use BNPL services for Christmas purchases this year read more.BNPL use grows rapidly among Gen Z and families Gen Z and families are seeing increasing reliance on BNPL services, reflecting a broader trend in credit… Read more

Generative AI Celebrated but Not Disruptive Yet: Early claims of AI disrupting entire industries have not yet come to pass, suggesting that the impact might have been overstated. Read moreSilicon Valley’s Dual Marketing: Optimism and Fear: The tech sector in California is known for both its optimism and a less discussed trend of leveraging existential fears as a marketing tool. Read moreFear as a Business Strategy in Tech: Companies like Palantir use fear-mongering about global destruction to captivate investors and… Read more

Consumer Credit Growth Declines in June: The annual growth rate for consumer credit in the UK dropped from 8.4% in May to 8% in June, indicating a slowdown in borrowing. Read moreCredit Card Borrowing Growth Falls: Growth in credit card borrowing decreased to 10.5% in June from 10.8% the previous month, reflecting consumer caution. Read moreNet Consumer Credit Borrowing Reduces: June saw a reduction in net consumer credit borrowing to £1.2 billion, down from £1.5 billion in May. Read moreEconomic… Read more