Tag: Costcutting

Clover Health, an upstart insurance company seeking to revolutionize healthcare for seniors, has outsourced core operations and reduced its workforce by 10%. This move should save $30 million a year starting in 2024 and help the company finally turn a profit. Despite the current lack of success, Clover hopes to focus on technology such as "Clover Assistant" to make a comeback.

Amazon is investing heavily in ChatGPT technology, setting up the foundation of a new tech arms race. This AI is capable of creating essays, stories, and even pictures when prompted. Fortune-500 CEO Andy Jassy also announced the launch of Bedrock, an API that provides access to complex AI models to small and large companies alike. Moreover, Jassy remains hopeful despite Amazon facing tough but necessary cost-cutting decision such as job cuts and store closures.