Latest news with #Hsu
Yahoo
28-05-2025
- Business
- Yahoo
CEO of Retool, an AI company that works with BCG, says AI is here to replace labor
Retool is launching a platform for AI to automate tasks. The system, Agents, allows users to build agents on top of every large language model on the market. Retool's CEO says the launch comes as leaders ask: "How do we get LLMs to actually replace labor?" While public debates swirl around AI ethics and safety, Retool CEO David Hsu said the real conversation his clients are having is simpler: "How do we get LLMs to actually replace labor?" Retool, a platform for building AI applications that works with consulting firms like Boston Consulting Group and companies like Amazon Web Services and Databricks, has an answer. On Wednesday, Retool launched Agents, its version of AI agents. Retool's system is meant to help users build, test, and manage agents. "People are kind of scared to talk about it publicly, and actually, many of our customers even are kind of scared to talk about it publicly," Hsu told Business Insider of replacing labor. But as companies debate ways to automate jobs with large language models, they're also dabbling in the next generation. On a podcast last year, Salesforce CEO Marc Benioff said that "we're hitting the upper limits of the LLMs right now" and that the future lies in autonomous agents. Nvidia CEO Jensen Huang has said he believes we'll all be working alongside agents and "AI employees" one day. These virtual assistants don't just respond to queries or make predictions from patterns but also complete tasks autonomously by breaking down problems, outlining plans, and troubleshooting when they encounter a tough problem. 2025 has been billed as the year of agents, as companies such as OpenAI, Salesforce, and Glean have launched platforms to help people build and manage agents. Retool's Agents not only allows users to build agents on top of every large language model on the market but also tackles two areas Hsu sees as key to making agents more effective. One is building "hyperspecific" agents, Hsu said. These are more accurate than agents set up to do broad tasks like browsing the web. The second is an agent management system Hsu described as a kind of "god view" which allows users to observe what agents are doing at any given point, including past behavior. "You can micromanage agents, and they don't care if they have to be micromanaged," Hsu said. Hsu said customers were already using agents for external work like customer service. He gave an example of a company that built an agent to handle customer refunds using three tools: one to look up customers by name, another to find their latest invoice in the payments platform Stripe, and a third to issue the refund. Companies are also redesigning internal work with agents, using them as stand-ins for middle management. Some clients are using agents to analyze meetings and go back to employees and say, "Hey, actually, you didn't do well in this meeting," Hsu said. One company, he said, is even considering doing away with sales managers because the "agent manager" is giving more objective feedback. Retool's agents use a pay-by-the-hour model, starting at $3 an hour. Customers pay for agents only when they're actively working, and rates are based on the LLM they're using. That means that rather than pay for an employee, companies can outsource work to a bot for an hourly wage. The strategy reflects concerns that companies have raised about returns on artificial intelligence investment. BCG's AI Radar survey of over 1,800 C-level executives found that while 75% ranked generative AI in their top three strategic priorities, only 25% said they saw value in it. Read the original article on Business Insider Sign in to access your portfolio
Business Insider
28-05-2025
- Business
- Business Insider
CEO of Retool, an AI company that works with BCG, says AI is here to replace labor
While public debates swirl around AI ethics and safety, Retool CEO David Hsu said the real conversation his clients are having is simpler: "How do we get LLMs to actually replace labor?" Retool, a platform for building AI applications that works with consulting firms like Boston Consulting Group and companies like AWS and Databricks, has an answer. On Wednesday, Retool launched Agents, its version of AI agents. Retool's system will help users build, test, and manage AI agents. "People are kind of scared to talk about it publicly, and actually, many of our customers even are kind of scared to talk about it publicly," Hsu told Business Insider of replacing labor. But as companies debate ways to automate jobs with large language models, they're also dabbling in the next generation. On a podcast last year, Salesforce CEO Marc Benioff said, "We're hitting the upper limits of the LLMs right now," and that the future lies in autonomous agents. Nvidia CEO Jensen Huang has said he believes we'll all be working alongside agents and " AI employees" one day. These virtual assistants don't just respond to queries or make predictions from patterns; they complete tasks autonomously by breaking down problems, outlining plans, and troubleshooting when they encounter a tough problem. The year 2025 has been billed as the year of agents, as companies from OpenAI to Salesforce to Glean have launched platforms to help people build and manage agents. Retool's Agents will not only allow users to build agents on top of every large language model on the market, but also tackle two areas Hsu sees as key to making agents more effective. One is to build "hyper-specific" agents, Hsu said. These are more accurate than agents set up to do broad tasks like browsing the web. The second is an agent management system called "God View" that allows users to observe what agents are doing at any given point, including recording past behavior. "You can micromanage agents, and they don't care if they have to be micromanaged," Hsu said. Hsu said customers are already using agents for external work like customer service. He gave an example of a company that built an agent to handle customer refunds using three tools: one to look up customers by name, another to find their latest invoice in the payments platform Stripe, and a third to issue the refund. Companies are also redesigning internal work with agents, using them as stand-ins for middle management. Some clients are using agents to analyze meetings and go back to employees and say, "Hey, actually, you didn't do well in this meeting," Hsu said. One company, he said, is even considering doing away with sales managers because the "agent manager" is giving more objective feedback. Retool's agents are priced according to a pay-by-the-hour model, starting at $3 per hour. Customers only pay for agents when they're actively working, and according to the LLM they're using. That means that rather than pay for an employee, companies can outsource work to a bot for an hourly wage. The strategy reflects concerns that companies have raised about returns on AI investment. BCG's AI Radar report of over 1,800 C-level executives revealed that while 75% rank generative AI in their top three strategic priorities, only 25% said they see value in it.
CNBC
21-05-2025
- Business
- CNBC
AI PCs will become mainstream in the next two years, says ASUS Co-CEO
S.Y. Hsu, Co-CEO of Taiwanese tech company ASUS, shares the PC maker's outlook for AI personal computers, saying more than 50% of these will be common in the next couple of years.
Axios
19-05-2025
- Business
- Axios
Why the consumer sentiment plunge is different now
The economy kept chugging along the last time consumer sentiment hit rock-bottom levels. But some economists worry that resilience isn't going to hold this time around, as Americans signal worries about their income and the labor market in ways not seen in 2022. Why it matters: The early 2020s inflation shock broke the tenuous link between sour sentiment and the economy. But the indicators pushing sentiment indices now are different, and in some respects, more grim. What's new: Preliminary data shows consumer sentiment hit the second-lowest level on record this month, according to the University of Michigan. The consumer sentiment index fell to 50.8 in early May, a low second only to June 2022, when the index hit 50 (and inflation peaked at 9%). By the numbers: About two-thirds of consumers surveyed by the university say they anticipate unemployment to rise over the next 12 months, the largest share since 2009. It marked the fifth straight monthly increase, bringing the share to more than double in November. Consumer views of the labor market didn't deteriorate nearly as much in recent years. On average, roughly 32% of consumers said the same each month in 2022, not drastically higher than the 2019 figure of 27%. The intrigue: The richest Americans — who drive aggregate spending in the U.S. — typically feel better about the economy than lower-income groups. But not anymore. Expectations have converged, with all income groups anticipating worse economic conditions, according to the University of Michigan, a warning for the health of consumer spending that was missing in 2022. "We're still seeing huge declines across income but most notably at the top of the income distribution," Joanne Hsu, head researcher of the University of Michigan survey, tells Axios in an email. Between the lines: Higher prices weighed on sentiment in the past few years, though consumers were not calling out a specific policy as the root cause. This time around, respondents point specifically to tariffs as potentially inflationary and economically damaging. Nearly 75% spontaneously mentioned tariffs in May, up from 60% of respondents in April. Inflation expectations are running well above those seen in 2022, when inflation was actually high. Year-ahead inflation expectations surged to 7.3% in early May, up almost a full point, to the highest level since 1981. What they're saying:"It's becoming more clear from the open ended comments it's not just about the magnitude about the tariff rates," Hsu says. "Consumers are specifically concerned about instability, unpredictability, uncertainty around trade policy, and they broadly believe that uncertainty will generate upward pressure on inflation." The big picture: The survey suggests consumers expect a large shock to their personal finances, with many reporting weakening incomes. Their assessments of their personal finances fell 10 points in early May to the lowest since 2009, while the outlook on their finances dropped to the lowest on record. The other side: A study by the Kansas City Fed released Friday found the recent sentiment slump did not "meaningfully alter" its predictions of 2025 spending growth, noting the modest tie between how consumers feel and what they do. Others agree. "I think going back a number of years the link between sentiment data and consumer spending has been weak," Fed chair Jerome Powell said earlier this month. "On the other hand, we haven't had a move of this speed and size," he added. The bottom line: There are few signs of mass private-sector layoffs, while the government data shows inflation is cooling. Consumers expect gloom anyway. To say that would have been accurate at any point in the past few years. The tariffs will test whether the sentiment-economic disconnect is a one-time phenomenon or the new normal. The final sentiment data out later this month will reveal whether "the pause on some China tariffs leads consumers to update their expectations," the university said.
Yahoo
16-05-2025
- Business
- Yahoo
SolarMax Technology Reports First Quarter 2025 Financial Results
RIVERSIDE, Calif., May 16, 2025 (GLOBE NEWSWIRE) -- SolarMax Technology, Inc. (Nasdaq SMXT) ('SolarMax' or the 'Company'), an integrated solar energy company, today reported financial results for the quarter ended March 31, 2025. First Quarter 2025 Financial Highlights Revenue: $6.9 million, compared with $5.8 million in the first quarter of 2024. Gross profit: $1.4 million, compared with ($0.5) million in the first quarter of 2024. Cost of revenues in the first quarter of 2024 included a one-time, non-cash stock-based compensation expense of $1.3 million. Total operating expense: $2.6 million, compared with $18.4 million in the first quarter of 2024. Operating expense in the first quarter of 2024 included a one-time, non-cash stock-based compensation expense of $15.9 million. Net loss: $1.3 million, or $0.03 per share, compared with a net loss of $19.3 million, or $0.46 per share in the first quarter of 2024. David Hsu, CEO of SolarMax, stated, 'We are encouraged by our progress this quarter, having achieved a 20% increase in revenue and improvement in gross margin despite ongoing inflationary and regulatory pressures. We believe this improvement demonstrates our team's ability to navigate a dynamic market while enhancing operational efficiency and executing on cost containment initiatives.' 'While California's NEM 3.0 policy—which significantly reduced the compensation homeowners receive for excess solar power sent to the grid—continues to impact residential solar demand in the state, we're seeing meaningful traction through our dealer network and our proposed commercial projects,' continued Hsu. 'We are laying the groundwork for commercial and industrial solar and battery system projects that we believe represent a growth opportunity. Although we have no executed contracts, our development pipeline is active, and we are seeking to position SolarMax for longer-term diversification and growth.' About SolarMax Technology Inc. SolarMax, based in California and founded in 2008, is a leader within the solar and renewable energy sector focused on making sustainable energy both accessible and affordable. SolarMax has established a strong presence in southern California. SolarMax is looking to generate growth with strategic initiatives that aim to scale commercial solar development services and LED lighting solutions in the US while expanding its residential solar operations. For more information, visit Any information contained on, or that can be accessed through, our website or any other website or any social media is not a part of this press release. Forward Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ('Securities Act') as well as Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created by those sections. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as 'believe,' 'expect,' 'may,' 'will,' 'should,' 'would,' 'could,' 'seek,' 'intend,' 'plan,' 'goal,' 'project,' 'estimate,' 'anticipate,' 'strategy,' 'future,' 'likely' or other comparable terms, although not all forward-looking statements contain these identifying words. All statements other than statements of historical facts included in this press release regarding the Company's strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements. Such forward-looking statements are subject to risk and uncertainties, including, but not limited to, including but not limited to the Company's ability to develop its commercial solar business and to be accepted as a provider of commercial solar systems in the United States, and its ability to recommence its operations in China where is has not generated any revenue since 2021, and to respond to any changes in governmental policies relating to renewable energy and those factors described in 'Cautionary Note on Forward-Looking Statements' 'Item 1A. Risk Factors,' and 'Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations,' in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the SEC on March 31, 2025. SolarMax undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events except as required by law. You should read this press release with the understanding that our actual future results may be materially different from what we expect. Contact:For more information, contact:Stephen Brown, CFO(951) 300-0711Sign in to access your portfolio
