Good morning, Austin! We scanned the internet to bring you the latest in technology news. Here’s what’s happening:
Intel axes its wearables group to focus on augmented reality
Intel has eliminated the division that worked on health wearables, including fitness trackers, a source tells CNBC.
Intel once hoped to rule the wearables category alongside players like Apple and Fitbit. In 2014, the company partnered with celebrities like 50 cent to show off its heart-rate sensing earbuds. Also in that year, it spent some $100 million for Basis.
But the company has been slowly de-emphasizing its own line of wearables for the past several years, and has not mentioned wearables on its earnings calls in three years.
The company's New Technologies Group, which looks at cutting-edge business areas, is now focusing on augmented reality, another source told CNBC.
McKinsey: Machines are ready to take over 30 percent of work at banks
New technologies are poised to sweep through investment banks, removing up to a third of the workload currently done by rank-and-file employees, according to a new McKinsey report.
The shift, already causing anxiety on Wall Street, could happen in a few years.
Cognitive technologies are now cheap enough that banks can deploy them across operations facilitating trades and other capital-markets business.
“This is really starting to take steam and it’s going to transform the industry over the next two to three years,” Jared Moon, a McKinsey partner who co-wrote the report, told Bloomberg. The consultants estimate cognitive technologies will free 20 to 30 percent of employees’ capacity in units processing trades.
NBC News launches a Snapchat broadcast to attract younger viewers
You have to go where the viewers are. And in the case of younger viewers, that’s Snapchat.
NBC News is taking its news broadcasts to Snapchat, with a twice-daily headline news show called “Stay Tuned.” TechCrunch says the show’s goal is to connect with younger viewers who no longer get their news from traditional television.
Instead, the two- to three-minute news show will feature four or five segments focused on the top national and international stories of the day, including politics, pop culture and more.
“We’re assuming the audience is not necessarily attuned to every last coming and going with the news, but we’re also assuming that they have a real hunger for what’s going on in the world,” said NBC News’ head of digital, Nick Ascheim.
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