🤖 Paris Olympics is using a ton of AI

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TOP STORY
🤖 Paris Olympics is using a ton of AI

The 2024 Olympic Games, which are taking place right now in Paris, are using AI to completely transform the experiences for athletes, spectators, and organizers.

Here are some of the biggest AI helpers being introduced:

• AthleteGPT, an AI chatbot that provides 24/7 assistance to athletes through the Athlete365 mobile app.

• 3DAT (3D Athlete Tracking), developed by Intel, uses AI to analyze movements in 3D. It provides insights like speed, posture, and technique to enhance performance.

Plus: AI is also being used in talent scouting to analyze performance data and game footage, helping identify promising athletes and assess their potential.

And, possibly the most interesting addition:

The IOC and Intel are praising new AI technology that detects cyber abuse and online harassment targeting athletes.

"The ability of AI to take down comments in real-time and assist in prosecuting offenders is huge. This will, I believe, change the dynamics of social media," said American skier Lindsey Vonn.

AI has already infiltrated the world faster than the plague, but using AI at a major worldwide sporting event like the Olympics is definitely a major step toward further adoption.

CONSUMER DISCRETIONARY
🍾 LVMH’s Multi-Billion Dollar Champagne Problem

Luxury conglomerate LVMH, renowned for owning high-end brands such as Louis Vuitton, Dior, and Sephora, is having big champagne problems.

LVMH sold 15% fewer Champagne bottles in the first half of the year compared to the same period last year.

The luxury giant reported $1.5 billion in revenue from Champagne and wines during the first half of 2024, a 12% decline from last year.

How come? LVMH CFO Jean-Jacques Guiony thinks it could be because fewer people are celebrating; there just aren't enough things to pop the bottle for.

"Champagne is quite linked with celebration, happiness, et cetera," he said.

Maybe the current global situation, be it geopolitical or macroeconomic, does not lead people to cheer up and to open bottles of Champagne. I don't really know."

Damn, that’s just heartbreaking.

It was also obviously very annoying for the company, especially because things were really looking up, even during COVID.

• In 2021, global Champagne sales rose 14% from pre-COVID levels, reaching $5.7 billion due to post-pandemic celebrations.

• During the first half of this year, Champagne shipments decreased by 15.2% compared to 2023.

But with all this headache attached, it begs the question: Is Champagne really that important to a conglomerate with so many brands?

Yes, actually, wine and spirits accounted for about 7% of LVMH's overall revenue in the first half of the year.

But unfortunately for LVMH, it just isn’t a Champagne-popping kind of vibe right now in the world.

POLITICS
💰️Trump’s remarks leading to $100B in funding for Taiwan?

A few weeks ago, former President Donald Trump oddly said that “Taiwan should pay us for defense,” meaning that Taiwan should be helping cover the cost of U.S. military support.

It’s definitely worth a conversation, but it kinda came out of nowhere.

The controversial statement only complicated Taiwan's situation, raising concerns about U.S. support and financial costs for Taiwan.

Oh, shit.

In response, Taiwan’s Premier Cho Jung-tai announced earlier this week a reform plan to attract $100 billion in investments.

This plan aims to boost Taiwan's economy and social infrastructure amidst these geopolitical challenges.

Here’s what we know:

• The plan targets energy, artificial intelligence, infrastructure, cost of living, and housing issues, aiming to attract Taiwanese investors who are moving away from China.

• The plan also focuses on energy security, especially with the shutdown of many power plants and the retirement of the last reactor at Taiwan’s Third Nuclear Power Plant in 2026.

And to add some stress to the pot.

The urgency for this funding has only increased due to plans from major tech companies NVIDIA, Taiwan Semiconductor Manufacturing Co., Foxconn, and Super Micro Computer Inc. to expand AI and supercomputer capacities in Taiwan.

Which, unfortunately, requires even more money to be raised.

It’s definitely not an easy time to be a Taiwanese politician, but $100B would definitely go a long way in helping, no matter what country you’re trying to lead.