REWE Group owned BIPA, a drugstore retailer in Austria, has launched Haidi, an AI assistant for its employees.

In a LinkedIn post, Alexander Huber, Head of Digital Business Hub at REWE International, said: “Milestone reached! As the first company in Austria, we at BIPA together with the REWE International Cloud Team and Google Cloud, have developed a revolutionary AI assistant that makes internal knowledge accessible to all store employees.”

“What makes Haidi special? Natural language input – questions like in a normal conversation; Multilingual – German, English, Turkish, Hungarian; Intelligent answers – No hit lists, but coherent solutions; Immediate help – From exchange processes to BIPA benefits; Data protection compliant – Secure on Google Cloud infrastructure.”

He concluded: “What makes me particularly proud: the idea came from the team, the implementation was real co-creation. New colleagues in particular benefit enormously – Haidi democratises knowledge and makes it so much easier to get started. A big thank you to everyone who thought, tested and made possible.”

Kuaishou Technology Class B ((HK:1024)) has held its Q2 earnings call. Read on for the main highlights of the call.

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Kuaishou Technology’s recent earnings call conveyed a generally positive sentiment, reflecting strong revenue growth, record-breaking user engagement, and successful execution of its AI strategy. Despite the optimism, the company acknowledged increased R&D and administrative expenses, which slightly tempered the overall financial outlook. However, the decision to declare a special dividend and the long-term growth potential of AI investments contributed to an optimistic perspective.

Record-Breaking Daily Active Users

Kuaishou Technology reported a significant milestone in user engagement, with average daily active users (DAUs) on the Kuaishou App reaching a record high of 409 million in the second quarter. This achievement marks steady year-over-year growth and underscores the platform’s increasing popularity.

Revenue Growth

The company’s total revenue rose by 13.1% year-over-year to RMB 35 billion. This growth was primarily driven by advancements in online marketing services, live streaming, and e-commerce, showcasing the company’s robust business model and market adaptability.

Improved Profitability

Kuaishou Technology achieved a new high in quarterly profitability, with an adjusted net profit totaling RMB 5.6 billion and a 16% adjusted margin. This improvement highlights the company’s effective cost management and operational efficiency.

Special Dividend Declared

In a move reflecting confidence in its financial health, Kuaishou’s Board declared a special dividend of HKD 0.46 per share, amounting to HKD 2 billion in total. This decision underscores the company’s commitment to delivering shareholder value.

AI Strategy Success

The company’s AI segment, Kling AI, generated revenue exceeding RMB 250 million in the second quarter. This success demonstrates significant progress in AI-driven innovation and commercialization, positioning Kuaishou as a leader in AI technology.

E-commerce Growth

E-commerce gross merchandise volume (GMV) saw a substantial increase, rising by 17.6% year-over-year to RMB 358.9 billion. This growth was fueled by an increase in monthly average paying users and an enhanced user experience.

Increased R&D Expenses

Research and development expenses rose by 21.2% year-over-year, primarily due to increased investments in AI. This reflects the company’s strategic focus on innovation and long-term technological advancement.

Higher Administrative Expenses

Administrative expenses increased by 13.3% year-over-year, mainly attributed to higher employee benefit expenses. Despite this rise, the company remains committed to maintaining a competitive workforce.

Forward-Looking Guidance

Kuaishou Technology’s forward-looking guidance remains optimistic, with expectations of continued growth in key metrics. The company anticipates sustained user engagement and revenue growth, driven by advancements in AI and e-commerce. The special dividend declaration further signals confidence in its long-term growth prospects.

In summary, Kuaishou Technology’s earnings call painted a largely positive picture, highlighting record user engagement, robust revenue growth, and successful AI strategy execution. While increased expenses present challenges, the company’s strategic investments and special dividend declaration underscore its confidence in future growth and shareholder value.

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Proponents see it as a potential watershed moment in Hollywood’s use of AI tools [File]
| Photo Credit: REUTERS

Swirling winds, drone-operated monkeys and artificial intelligence brought new life to “The Wizard of Oz” on Thursday at the premiere of an immersive version of the Hollywood classic in Las Vegas.

A yellow-brick carpet, mimicking the yellow brick road in the film, led to the entrance of Sphere, a high-tech, dome-shaped entertainment venue that is showing the update of the 1939 movie musical.

Premiere attendees included Lorna Luft, whose mother Judy Garland played Dorothy in the movie.

“We are finally off to see the wizard!” Sphere Entertainment CEO James Dolan told the crowd. “What you’re about to see tonight is our most powerful example yet of experiential storytelling in this new media.”

Some cinema lovers have recoiled at the idea of tinkering with a classic film. Workers in Hollywood also are wary that artificial intelligence will be used to replace human work.

Dolan said audiences would be wowed by the new “Wizard of Oz” experience.

“For the first time, you’re going to feel like you’re part of the story,” he said.

Reworking the film took more than two years and 2,000 people, including the Sphere’s creative team, Google’s DeepMind researchers and Warner Bros Discovery executives. The film has been updated and AI has been used to make it watchable on Sphere’s giant, wraparound screen.

AI restored tiny celluloid frames into today’s high definition and filled in details such as freckles on Dorothy’s face. Proponents see it as a potential watershed moment in Hollywood’s use of AI tools.

The Sphere added off-screen elements such as fans that kicked up wind and blew leaf-shaped confetti when the tornado swept Dorothy’s farmhouse into the sky. Sixteen-foot (4.88-metre) helium-filled monkeys flew overhead as the Wicked Witch plotted Dorothy’s demise.

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