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On August 20th, Walmart CEO John Furner stated that he believes artificial intelligence will improve almost all of the companys businesses, making the customer shopping experience better and employees jobs easier. In a conference call with analysts, Furner cited the AI shopping assistant Sparky as a prime example. "The number of customers using Sparky has increased by 70% compared to last year, and customers and members who shop using Sparky spend 40% more per order than non-users," he said. "Recently, someone told me they asked Sparky for a weekly meal plan with high-protein, healthy foods. Within seconds, Sparky shared the recipe and meal set, and could add all the necessary ingredients to the cart with a single click."On August 20th, Morgan Stanley economists stated in a report that while the proportion of jobs lost due to AI in the United States remains small, this trend is becoming increasingly apparent. By June 2026, AI replacement will have an impact of up to 15 basis points on the US unemployment rate, up from 10 basis points in December 2025. The signs of replacement remain most pronounced among younger workers.According to The Information: Anthropics joint venture ODE has acquired artificial intelligence consulting firm Casper Studios.Chai Discovery and Bristol-Myers Squibb have entered into an antibody research and development collaboration agreement, under which Bristol-Myers Squibb will use Chais AI model to support antibody discovery.According to The Information: Anthropics enterprise artificial intelligence business unit has acquired a consulting firm.

Gold price prediction: XAU/USD slips to $1,690 on Fed forecasts; US retail sales expected

Daniel Rogers

Sep 15, 2022 11:37

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Gold price (XAU/USD) has adopted a downward trend after falling below Wednesday's minimum of $1,693.67. The precious metal is falling nearing $1,690.00 as bears take control of rising probabilities for a massive Federal Reserve (Fed) rate hike in the near future.

 

Earlier symptoms of weariness have dissipated as a result of Tuesday's higher-than-anticipated US Consumer Price Index (CPI) report. Despite declining gasoline costs, the headline US CPI was announced at 8.3%, which was higher than the 8.2% prediction. The investment community believed that inflation had begun to respond to the Federal Reserve's (Fed) raising interest rates and that a succession of declining price pressures would soon enable the Fed to adopt a 'neutral' stance.

 

However, a US inflation report that exceeded forecasts demonstrates that the road to a neutral monetary policy is far from complete. Moreover, predictions of a one percent rate increase are currently ascendant.

 

In today's session, the US Retail Sales report will be of paramount importance. The economic data estimates do not indicate any improvement in retail demand. This could be the outcome of a fall in consumer confidence in the economy.

 

The gold price has experienced a precipitous decline after demonstrating a textbook-style test and the collapse of a consolidation pattern. On an hourly scale, the consolidation formed within the region of $1,697.12-1,709.62. At $1,698.70, the yellow metal is trading below the 20-period Exponential Moving Average (EMA), which increases the downside filters.

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