Google names insider Kavukcuoglu to lead AI-powered product development
June 11 (Reuters) - Alphabet's (GOOGL.O), opens new tab Google on Wednesday appointed an insider to lead its future AI-powered product development, as AI enters a new phase of mainstream adoption, according to a memo from CEO Sundar Pichai to company leaders seen by Reuters.
Koray Kavukcuoglu, chief technology officer of Google's DeepMind AI lab, is taking on the newly created title of chief AI architect. He will also become a new senior vice president, reporting directly to Pichai.
Kavukcuoglu, who will move to California from London, will also continue serving as Google DeepMind's CTO, reporting to its CEO Demis Hassabis, Pichai said in the memo.
"In this expanded role, Koray will accelerate how we bring our world-leading models into our products, with the goal of more seamless integration, faster iteration, and greater efficiency," Pichai said.
Alphabet faces market pressure to demonstrate financial returns on its AI-related capital expenditures, which are expected to hit $75 billion this year, while maintaining its bottom line against the threat of competing AI offerings, as well as antitrust enforcement.
Google said it would put artificial intelligence into the hands of more web surfers and teased a $249.99-a-month subscription for its AI power users at its annual I/O conference in May, along with a flurry of demos that included new smart glasses.
Pichai said in Wednesday's memo that Alphabet was "entering a new phase of the AI platform shift." He told reporters last month that the rise of generative AI was not at the full expense of online search.
Google has since signed, opens new tab a deal to supply computing capacity to its biggest AI rival OpenAI via its cloud service, Reuters exclusively reported on Tuesday, marking a surprising collaboration between two prominent competitors in the AI sector.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
33 minutes ago
- The Sun
Thousands of Thames Water customers are stuck on unfair 30-year-old tariffs
THOUSANDS of Thames Water customers are stuck on unfair 30-year-old tariffs, The Sun can reveal. Many without water meters have seen bills soar because they are calculated using their property's rateable value — set way back in the 1990s. 1 One Sun reader told us his monthly payment was up by a huge 671 per cent, from £21 to £162. Thames, which is trying to negotiate a multi-billion pound rescue deal, had said bills would rise by 31 per cent from April. But many are up by more than 40 per cent. Customers in homes unsuited to water meters — such as many flats — say they have been hit with higher hikes over the years. Their bills are calculated by their historic rateable value, which can depend on size and location — so they will often vary for homes in the same street. The Sun has been told that huge numbers of properties are unsuitable for water meters — including about 70 per cent in London. It means many people are struggling on unfair tariffs — and we have delivered a dossier of cases to Thames asking it to investigate. Consumer expert Martyn James said affordability was 'deeply concerning'. Industry regulator Ofwat said some customers may see their payments increase by more than average. Thames said: 'We offer comprehensive support for customers struggling to pay their bill.' TESCO SALES UP TESCO has revealed stronger sales over the latest quarter despite an 'intensely competitive' grocery market. The UK's largest supermarket chain said it has increased its market share further after investing more in pricing to lure customers. Group sales grew by 4.6 per cent to £16.4billion for the 13 weeks to May 24. Food sales rose by 5.9 per cent while non-food sales, excluding toys, rose by 6.2 per cent. £500 YOB FINES DISRUPTIVE Ryanair passengers who are removed from planes will be fined £500. The carrier said this will be the 'minimum' penalty and it will continue to pursue offenders for civil damages. It hopes the policy will 'act as a deterrent to eliminate this unacceptable behaviour'. The airline is suing one passenger for £12,600 after a Dublin-Lanzarote flight had to divert to Porto last year. EX-WILKO STAFF COMPO ABOUT 10,000 former Wilko workers will share a £2million payout following a legal case, it was announced yesterday. The GMB union said an employment tribunal judgment ruled that the retailer had failed to properly consult with workers before going bust in 2023. It means about 9,000 who worked in a store with 20 or more people will get four days' pay. And roughly 1,100 who worked in a distribution centre or support centre role will receive 13 days' pay. GMB rep David Bartlett said it was 'the very least Wilko workers deserve'.
Times
an hour ago
- Times
Long-term vision is needed to revive stock market
Call it a typical week on London's shrinking stock market: US bids for the mispriced Alphawave and Spectris at lofty premiums of 96 per cent and 85 per cent; the board of Assura recommending a cash exit at the hands of private equity rather than a merger with the listed rival Primary Health Properties; and a reminder of the lingering effect of those 'class of 2021' floats, with Pod Point agreeing to a takeover at just £10.6 million versus its £345 million listing price. Plus, of course, the enduring absence of anything resembling a pick-me-up IPO. This week is hardly an outlier, either. The last one saw Wise, the money transfer outfit valued at almost £11 billion, declare that it would be ditching its primary listing in London to join the exodus to the US already started by the likes of Ferguson, Flutter Entertainment and Ashtead. No question, 'de-equitisation', to use the term of Peel Hunt research chief Charles Hall, is alive and well on the London market. And theories abound over how to reverse it. Would things be better if our stock market wasn't owned by the London Stock Exchange Group: a data business that makes 96 per cent of its money from other stuff and whose £7.9 million-a-year boss, David Schwimmer, has no financial incentive to drum up floats? Could Rachel Reeves breathe some life into the market by abolishing stamp duty on share trading, typically levied at 0.5 per cent? (Given financial services are the UK's main growth engine, there must be worse uses of £4 billion). Is there a post-Brexit hangover that needs fixing via better alignment with the EU? Answers are proving elusive. So, it's nice to see consultants McKinsey bring a bit of nuance to the debate. In a paper, Andrew Goodman and Tunde Olanrewaju note the 'negative narratives' but suggest any fix must be as much cultural as technical: a commitment from companies, investors, regulators and the government to 'focus on growth, reinvestment and long-term outcomes'. Take the valuation gap between UK and US companies — a ratio of enterprise value (equity plus debt) to ebitda of an average 7.7 times over here versus 13.8 in America. That, McKinsey says, is because historical growth rates in operating profit — 7 per cent in the UK versus 13 per cent in the US — 'are influencing future growth expectations'. On top, the US index gets pulled up by 'a preponderance of highly valued outlier companies' or 'champion stocks', while the UK's big guns have delivered 'relative underperformance'. McKinsey doesn't name names but contrast Apple and Nvidia to BP and GSK. One reason for this? That, instead of investing in the business, UK companies 'typically pay more dividends'. They account for 'around 70 per cent of UK-listed returns' versus 'less than 40 per cent in the US'. Over here, income has trumped capital growth, with investors less willing to wait. Hence, McKinsey finding 'four times as many technology companies' in the top 100 companies of the US S&P index as among Britain's leading 100 public and private companies. Mix excess dividends, lower investment, less patient investors and slower growth and it's no shock that UK companies trade on the sort of multiples that leave them ripe for takeover — not least by private equity. Indeed, McKinsey says 'take-privates' account for '18 per cent of private equity activity' in Britain versus 1 per cent in the US. It also sees 'evidence of stronger revenue growth' in companies taken private when they're free from quarterly reporting and high dividend expectations. None of this is a quick fix. And, of course, it would help if bankers didn't bring the likes of Deliveroo, Dr Martens and THG to the market at insane prices. But McKinsey's analysis, also calling for a more pay-for-performance culture, implies that watering down the listing rules or corralling pension funds to invest isn't the answer either. If Britain wants a thriving stock market, it's time its participants proved they are willing to back long-term growth. How time flies in politics. Was it really only on Wednesday that Rachel Reeves was banging on about Britain being 'the fastest-growing economy in the G7'? How long will that last? A day later comes news that the UK suffered its worst monthly contraction since October 2023, with the 0.3 per cent drop in April's GDP far worse than the 0.1 per cent decline expected. The chancellor must have known March's 0.2 per cent growth was always going to be a bit of a mirage. Manufacturers had cranked up activity to beat Donald Trump's tariffs, as April's plunge in exports to the US implies: a £2 billion drop, or the worst monthly fall on record. And, at home, property buyers had rushed to beat April's stamp duty hike, while car buyers got in ahead of changes to vehicle excise duty. Reeves has a case for blaming 'uncertainty… in the world' for some of her problems. But two big ones are completely down to her. April was also the first month of her swingeing rise in employer taxes, aiming to raise £25 billion a year, while no one compelled her to have a tax-and-spend budget that, under her own rules, left her with fiscal headroom of a skinny £9.9 billion. The result? Every economic setback will now trigger more damaging uncertainty over what taxes she'll raise at her next budget. Hardly ideal for a 'growth' chancellor. Finally, a business remembering its USP: just a quid for 818 stores and 16,000 staffers. And to think it costs £1.25 in Poundland for a hanging plant pot squirrel decoration. True, Gordon Brothers is also providing up to £80 million of finance. Proof that Poundland can still be pricier than advertised.
The Guardian
an hour ago
- The Guardian
Michael Johnson cancels Los Angeles Grand Slam Track meeting
Michael Johnson cancelled the final leg of the new Grand Slam Track series in Los Angeles before an emergency meeting with athletes on Thursday night, leaving the host of the 2028 Olympics and the country's second-largest city without a major track meeting this summer. Johnson raised around $30m to launch Grand Slam Track this spring, promising a new way of doing track – involving a group of runners under contract racing twice over a weekend and focusing more on where they finished than actual times. Among the top athletes he signed were Olympic champions Sydney McLaughlin-Levrone and Gabby Thomas, though two other American track stars, Sha'Carri Richardson and Noah Lyles, did not race in the league. The first three events, in Kingston, Jamaica, Miami and Philadelphia, raised about $9.45m, with another $3m expected to be paid in LA. Bonuses were expected to go to season-long winners of the categories. The news on Thursday about the abrupt scrubbing of the meeting, scheduled for the last weekend in June at Drake Stadium, follows USA Track and Field's decision to take an event set for earlier in June – the LA Grand Prix – off the calendar. Max Siegel, USATF chief executive, told the Associated Press that the federation pulled its event because it was not viable to hold two major track meets in LA in the span of three weeks. A person with knowledge of the Grand Slam Track decision told the AP it was because of economic problems with the venue. The person added the new track league is looking towards 2026 and is expected to announce new investors next week. The person spoke on condition of anonymity because the decision had not been publicly announced. A meeting with the athletes was slated to take place later on Thursday. Siegel said leaders at USATF 'understand the significance of the [LA] market' and that there are plans for leaders to meet later this summer to coordinate the future of track there and throughout the United States, starting in 2026. 'It highlights the complicated way the [sport] works, and how difficult it is to financially sustain track meets,' Siegel said. 'The only way to do it in a sustainable way is collaboration and partnerships.' In the short term, USATF is looking to find meetings for a handful of athletes who still need to reach standards or collect points to qualify for world championships later this year and were planning to compete in Los Angeles. The news was far from what Olympic and track leaders were hoping as they head towards the first Summer Games in the United States since 1996 in a city that, 12 years before that, put Carl Lewis, Edwin Moses, Evelyn Ashford and others in the spotlight.
