logo
OpenAI says this state will play central role in artificial intelligence development

OpenAI says this state will play central role in artificial intelligence development

Yahoo11-06-2025
New York is poised to play a central role in the development of artificial intelligence (AI), OpenAI executives told key business and civic leaders on Tuesday.
OpenAI CEO Sam Altman spoke at a private event hosted by the Partnership for New York City and the AI firm revealed a report showing that New York is well-positioned to play a central role in AI development, unlike during other stages of the digital economy, a source familiar with the event told FOX Business.
Altman spoke to the business and civic leaders in attendance and outlined how he sees AI progressing in the next three years as well as why he sees New York as well-positioned to play a leading role in AI development.
According to a copy of the OpenAI report obtained by FOX Business, New York is the top market in the world for active users of the enterprise version of ChatGPT. It also ranks second among U.S. states in terms of developers building their products on OpenAI's infrastructure, while it trails only California and Texas in terms of weekly ChatGPT users.
Openai Backs Off Push To Become For-profit Company
"OpenAI belongs here," the company wrote in the report. OpenAI said it has more employees working out of its office building in New York City than in any other office aside from San Francisco, and that it has room to triple its size.
Read On The Fox Business App
"New York's world-class higher ed institutions and irresistible pull for graduates from around the world will help us deliver on our mission to build AI that benefits the most people possible," OpenAI wrote.
OpenAI chief economist Ronnie Chatterji also spoke to the business and civic leaders in attendance about how AI can increase productivity and fuel economic growth, according to a source familiar with the event.
Openai Shakes Up Corporate Structure With Goal Of Scaling Up Agi Investment
The report noted that economists have projected a wide range of increased productivity from AI, ranging from 0.06% at the low-end to 18%. OpenAI explained that even at the low end, it would add billions of dollars to U.S. gross domestic product given a nearly $30 trillion GDP.
It also said factors that will affect the advancement of AI include geography, organizations and values.
OpenAI added that implementing commonsense rules to protect people from the harms of AI and based on democratic values like those the U.S. has represented on the world stage will help ensure the technology helps as many people as possible.
OpenAI's report also addressed concerns some have raised about the impact of AI on the labor force, as the company wrote that new innovations often complement workers rather than substitute them.
It also said new technologies can lead to the creation of new types of jobs, noting that most of the professions in the workforce today didn't exist prior to 1940.Original article source: OpenAI says this state will play central role in artificial intelligence development
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Rillet Raises $70M From Andreessen Horowitz To Replace 'Dumb Databases' With AI Accounting That Closes Books In Hours
Rillet Raises $70M From Andreessen Horowitz To Replace 'Dumb Databases' With AI Accounting That Closes Books In Hours

Yahoo

time14 minutes ago

  • Yahoo

Rillet Raises $70M From Andreessen Horowitz To Replace 'Dumb Databases' With AI Accounting That Closes Books In Hours

When Nicolas Kopp led German digital bank N26's U.S. operations, he learned that world-class finance teams were often slowed by outdated systems, forcing them to wait weeks for critical metrics despite working at high speed. That frustration planted the seed for Rillet, an AI-native enterprise resource planning platform built by accountants to modernize how companies handle their books. Now, Rillet said it secured $70 million in Series B funding co-led by Andreessen Horowitz and ICONIQ, bringing total funding to over $100 million in less than a year. Don't Miss: The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — Bill Gates Warned About Water Scarcity. Funding Round Unites Venture Capital Heavyweights and Expands Board Leadership The $70 million raise includes participation from Sequoia, Oak HC/FT, and earlier investors, arriving just 10 weeks after Rillet's $25 million Series A. The company said the funding will accelerate Rillet's push to rebuild enterprise accounting from the ground up, giving finance leaders the ability to scale multi-billion-dollar companies with smaller, more efficient teams. As part of the round, Andreessen Horowitz General Partner Alex Rampell and ICONIQ General Partner Seth Pierrepont are joining Rillet's board of directors. "Finance teams deserve the same AI advantages that have revolutionized sales, engineering, and legal," Rampell said in the company's statement, while Pierrepont noted that the company's AI-native approach "can give companies a clear edge: faster insights, leaner teams, and smarter decisions." Trending: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can Cutting Close Times From Weeks to Days With AI-Native Architecture Founded by Kopp and Stelios Modes, the technical architect who built N26's payment infrastructure, Rillet was designed to eliminate the inefficiencies of legacy systems owned by large incumbents such as Oracle (NYSE:ORCL), Sage, and Microsoft (NASDAQ:MSFT). The company's leadership team includes former executives and accountants from EY, PwC, and other major firms, embedding industry expertise into every workflow. Rillet has signed more than 200 customers since launch, doubling its annual recurring revenue over the last 12 weeks and forming partnerships with top accounting firms like Armanino and Wiss. Clients such as Postscript, which generates over $100 million in annual recurring revenue, close their books in just three days using Rillet, while Windsurf manages its entire finance operation with a team of two people. The platform integrates directly with tools including Salesforce (NYSE:CRM), Stripe, and Brex, pulling structured data into its AI-powered general ledger. Legacy enterprise resource planning systems, described by Rillet as "dumb databases," often store transactions but leave teams dependent on spreadsheets and add-on approach eliminates that gap, enabling finance teams to collaborate in real time, automate workflows natively, and generate instant insights without relying on bolt-ons. Implementation can be completed in as little as four weeks, compared with up to 12 months for many legacy systems. Rillet Targets $500B Market Amid CPA Talent Shortage and 80% Automation Potential The American Institute of Certified Public Accountant has reported that 75% of today's public accounting CPAs are expected to retire within the next 15 years. In the meantime, Accenture estimates that about 80% of routine financial operations could be automated through technologies such as touchless continuous accounting and human-machine collaboration. Rillet aims to address both challenges by enabling finance teams to operate with fewer people while focusing on higher-value strategic analysis rather than manual processes. Looking ahead, Rillet says it plans to expand its AI capabilities, deepen integrations across the financial technology stack, and build toward a collaborative environment where AI agents and human experts manage financial performance together. Several customers are expected to go public within the next six to 12 months using Rillet's platform. Read Next: 2,000 High Earners Manage $6B With This AI Platform — Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Rillet Raises $70M From Andreessen Horowitz To Replace 'Dumb Databases' With AI Accounting That Closes Books In Hours originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.

AI CapEx is a 'stimulus-level' boost to economy & productivity
AI CapEx is a 'stimulus-level' boost to economy & productivity

Yahoo

time14 minutes ago

  • Yahoo

AI CapEx is a 'stimulus-level' boost to economy & productivity

Markets (^GSPC, ^IXIC, ^DJI) are pushing higher as investors eye artificial intelligence (AI)–linked capital expenditures (CapEx) and productivity gains. Horizon chief investment officer Scott Ladner and Barron's associate editor Al Root join Market Domination host Josh Lipton to lay out current market risks, how equal-weight tech could capture the next leg of the AI trade, and the effects of CapEx spend. To watch more expert insights and analysis on the latest market action, check out more Market Domination. Related videos Top Stock Market Highlights of the Week: ST Engineering, ComfortDelGro and Sea Limited SGX Added Two More Hong Kong Singapore Depository Receipts: Here's What You Need to Know Get Smart: STI smashes records. What happens next? DBS shares fall below $50 after a week Sign in to access your portfolio

ExpandCommunication Launches, Defining Intelligent PR
ExpandCommunication Launches, Defining Intelligent PR

Yahoo

time14 minutes ago

  • Yahoo

ExpandCommunication Launches, Defining Intelligent PR

Partnering with GridStrat, ExpandCommunication offers AI Visibility Audits and Customized Strategy to Maximize Visibility Calgary, Aug. 16, 2025 (GLOBE NEWSWIRE) -- A bold new player has entered the public relations landscape with the official launch of ExpandCommunication, an intelligent PR firm built to accelerate client growth through strategic visibility, cutting-edge tools, and global reach. 'Our mission is simple: we ensure our clients are seen, heard, and respected where it matters most,' said Dalyce Semko, founder and CEO ExpandCommunication. 'We deliver premium media coverage, unlock speaking opportunities, draft award-winning submissions, and place carefully crafted content to make an impact where it is needed.' Intelligent PR: A Game-Changing AdvantageWhat sets ExpandCommunication apart is its rapid adoption of advanced AI tools that enhance performance while guaranteeing quality. Through a strategic partnership with GridStrat Clarity, ExpandCommunication offers: Industry Intelligence curated for each sector and strategy AI Visibility Audits that analyze LLMs knowledge and translate these metrics into communication strategies to fill reputation gaps and strengthen digital presence. 'Our world is driven by a fast-moving media landscape and rapid AI adoption. Staying ahead means being smarter, faster, and more intentional,' said Dalyce. 'This technology gives us, and our clients, a true competitive edge.' Strategic. Scalable. operates across Canada, the U.S., and Europe, building scalable communication programs that adapt as client needs evolve. Whether elevating a startup's visibility or expanding a multinational's influence, the firm delivers targeted impact with precision and speed. Where Vision Meets Execution Founded and led by accomplished PR Executive Dalyce Semko, ExpandCommunication is designed for organizations that are ready to think bigger, move faster, and execute smarter. With over 20 years of experience leading high-impact communications programs for global brands, government agencies, and high-growth startups, in PR strategic communication programs that span North America and Europe, Dalyce brings a rare blend of seasoned expertise and modern, technical vision to this new venture. 'At ExpandCommunication, we succeed when our clients succeed,' said Dalyce. 'And we're just getting started.' About ExpandCommunicationExpandCommunication is an intelligent PR firm that delivers focused, strategic visibility to accelerate client growth. Through a combination of global media outreach, high-impact storytelling, and next-gen AI tools, ExpandCommunication shapes visibility, impact and influence for clients across Canada, the U.S., and Europe. For more information about ExpandCommunication, visit About GridStrat For more information about GridStrat, visit CONTACT: Eva Suanez ExpandCommunication 825-365-6694 eva@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store