Latest news with #Versona
Indian Express
2 days ago
- Indian Express
From ‘grief bots' to 3D avatars: How startups are using AI to simulate the dead
The latest and possibly most controversial use case for generative AI is here. A new wave of startups are creating so-called 'grief bots' or 'dead bots' that allow people to interact with AI representations of their deceased loved ones. These bots are essentially large language models (LLMs), fine-tuned to generate responses that mimic the speech and personality of the deceased individual. They are, in turn, part of a larger field known as 'grief tech' which includes technology ranging from chatbots to more realistic 3D avatars of people who have died. Project December, Story File, and You, Only Virtual are a few of the startups that are focused on developing AI tools to help users grieve and cope with the loss of a partner, friend, or family member. While these AI simulations may offer some people a sense of closure, they also raise serious concerns. Despite being trained to resemble real individuals, interactions with AI bots and avatars can still be quite unpredictable and unsettling for many. 'We are talking about a very specific group of users, they are in a very vulnerable state. They are looking for some closure but the opposite can happen,' Hans Block, a film director, said in an interview that is part of a recent documentary called Eternal, You. 'Some of the services are using a lot of private data. For example, the practice of storing all the messages that a person has sent to another person in order to create how a person is speaking in a way,' Block added. Justin Harrison, the founder and CEO of You, Only Virtual, offered a different perspective. Harrison's startup creates AI-powered audio versions of people called Versonas that users can call and have conversations with. The very first Versona he created using AI was based on his own mother after she was diagnosed with Stage 4 cancer. 'This is one of the many problems that we are meant to solve. There are moments when only your mom or only your dad can make you feel better. They are the only ones who can say that right thing in the way that they would say it to you. And that's an unquantifiable help,' Harrison told BBC in an interview. He further envisions Versonas being integrated with realistic robots in the future. Grief bots are also evolving beyond text and audio to become more lifelike and interactive. StoryFile works with its users to create AI-powered video avatars of deceased loved ones that allow for conversations resembling a Zoom call. A user whose father was diagnosed with a terminal illness signed up for StoryFile's service. The company sat down with the father and had him repeat stock phrases such as 'Hi', 'I love you, too', 'Bye for now', and 'I don't have an answer for that right now' for when the AI avatar is unable to generate a suitable response to the user's query, according to a report by The New York Times. StoryFile also makes interactive AI-generated videos for museums and other art foundations. Going forward, the startup reportedly has plans to develop an AI app that lets users themselves create an avatar of a person by uploading their emails, social media posts, and other background information.
Yahoo
28-05-2025
- Business
- Yahoo
Cato Stock Gains 12% Despite Q1 Earnings Down Y/Y on Tariff Headwinds
Shares of The Cato Corporation CATO have climbed 11.5% since the retailer released its earnings results for the quarter ended May 3, 2025, significantly outpacing the S&P 500 index's 1.4% growth over the same period. On a broader basis, CATO shares are up 12% over the past month, again outperforming the S&P 500's 6.5% rise. This relative strength suggests renewed investor optimism despite the company posting a noticeable year-over-year earnings decline. Cato reported first-quarter 2025 net income of 17 cents per share compared with 54 cents per share in the same period last year, a decline of approximately 69%. (See the Zacks Earnings Calendar to stay ahead of market-making news.) Total revenues dropped 3.9% to $170.2 million from $177.1 million a year ago, with retail sales comprising the majority at $168.4 million. Notably, same-store sales were flat, reflecting challenges in driving organic growth amid a cautious consumer environment. Cato's net income fell sharply to $3.3 million compared to $11 million in the same period last year. The Cato Corporation price-consensus-eps-surprise-chart | The Cato Corporation Quote Gross margin declined slightly to 35.1% of sales from 35.8% in the prior year quarter. This was attributed to a lower merchandise contribution driven by increased markdown activity, partially offset by reduced buying costs. Operating expenses were somewhat managed, as Selling, General and Administrative (SG&A) expenses declined 2.5% year over year to $55.3 million. However, as a percentage of sales, SG&A rose to 32.8% from 32.4%, reflecting the pressure of declining revenue on fixed costs. Depreciation costs rose to $2.6 million from $2 million, while interest and other income fell significantly to $1.2 million from $5.8 million. The previous year's figure included a $3.2 million gain from land sales and income from equity securities, which did not recur this year. The resulting income before taxes declined 63.5% year over year to $4.2 million. Income tax expense rose to $0.9 million from $0.6 million, largely due to changes in state and foreign tax rates. Cato's leadership emphasized the impact of a cautious consumer spending environment, with Chairman and CEO John Cato citing 'general uncertainty regarding the economy and the potential impact of the proposed tariffs' as contributing factors to a restrained outlook. While sales trends improved later in the quarter, the executive tone remained measured, indicating hesitancy in projecting a recovery for the remainder of the year. During the quarter, Cato did not open any new locations and permanently closed eight stores, bringing its total store count to 1,109 across 31 states, down from 1,171 stores a year ago. This continued contraction reflects the company's adaptation to shifting consumer behaviors and efforts to right-size its physical footprint in favor of more efficient operations. The company's retail concepts — Cato, Versona, and It's Fashion — continue to target value-conscious consumers with trend-driven merchandise offered at everyday low prices. In terms of capital allocation, the company repurchased 294,036 shares during the quarter, signaling confidence in its valuation and a commitment to returning capital to shareholders. On the balance sheet, Cato's financial position remained stable, with cash and cash equivalents rising to $31.3 million from $20.3 million as of Feb. 1, 2025. However, short-term investments fell to $48.6 million from $57.4 million, reflecting potential liquidity redeployment. Inventories remained essentially flat, suggesting disciplined merchandise planning amid fluctuating demand. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cato Corporation (The) (CATO) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
