Utilities including PG&E are using artificial intelligence start-ups to analyze satellite images and identify trees that pose a risk of falling onto power lines and igniting wildfires. The approach is seen as significantly cheaper than burying power lines, a process which costs over $3m per mile. AI-driven tree trimming can prevent about 80% of potential…

Omnicom will cut more than 4,000 jobs and fold several well-known advertising agency brands as part of an immediate restructuring following the completion of its $13bn takeover of U.S. rival Interpublic (IPG). Reuters notes that the ad industry is under threat as artificial intelligence reshapes creative production and tech giants such as Meta make it…

U.S. holiday shoppers have boosted Black Friday sales by 4.1% year-on-year, according to Mastercard SpendingPulse, though inflation-adjusted growth may be closer to 1%. Online sales rose 9.1% to $11.8bn, with Adobe Analytics citing steep discounts as a key driver. However, the data reveals a growing divide: higher-income consumers continue to spend, while low- and middle-income…

U.S. holiday shoppers have boosted Black Friday sales by 4.1% year-on-year, according to Mastercard SpendingPulse, though inflation-adjusted growth may be closer to 1%. Online sales rose 9.1% to $11.8bn, with Adobe Analytics citing steep discounts as a key driver. However, the data reveals a growing divide: higher-income consumers continue to spend, while low- and middle-income…

The world’s central banks are wary of artificial intelligence amid concern that AI-driven behavior could “accelerate future crises,” according to a survey by the Official Monetary and Financial Institutions Forum. “AI helps us see more, but decisions must remain with people,” one participant was quoted as saying in the report from a working group of…

PYMNTS reports that a regulatory push on bank leverage and capital rules could impact fintech-bank partnerships. The Federal Deposit Insurance Corp.’s November 25th board agenda details a proposed overhaul of the community leverage bank ratio and a final rule on enhanced supplementary leverage ratio and total loss-absorbing capacity standards for global systemically important banks.