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In 2023, IBM set a goal to become the most productive company in the world. It started by asking questions, lots of questions, says Joanne Wright, SVP of Transformation and Operations at IBM. How can we radically simplify end to end workflow and processes? What can we eliminate? How do we automate everything that we can? And then how do we embed AI into everything we do? So far, over a two year period, we've delivered over $3.5 billion of productivity savings for the company.
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Here's your afternoon TNB Tech minute for Friday, September 19th. I'm Julie Chang for the Wall Street Journal. We have a TikTok deal President Trump announced today that he and Chinese leader Xi Jinping approved a preliminary deal under which a group of American investors would take control of the video sharing app's US Operations. The new entity would operate algorithms using technology licensed from TikTok parent ByteDance. A ByteDance spokesperson said it'll work in accordance with applicable laws. Details of the deal haven't been publicly released, and White House officials, as well as people familiar with the discussion, say many of its finer points and legal issues still need to be worked out before it's finalized. Trump said he and Xi agreed to meet at a summit this fall. Plus, Porsche has cut its guidance for the year again. The German premium carmaker has been reeling from a slow electric vehicle market, fierce competition from China and President Trump's tariffs. Porsche said it had to conduct a review of its product portfolio and is delaying the launch of some new EV models instead. Those vehicles will be offered as combustion engines and plug in hybrids. Finally, Chinese robo taxi firm Pony AI is set to hit a major profit target by early 2026. That's according to the company's CFO. He said Pony AI is on track to reach single unit economics breakeven, meaning they book a profit every time they add a car to their fleets. And after breaking even, the company can more aggressively increase its fleet size. He added that Pony AI has finished producing 400 robotaxis and is on track to roll out 1000 vehicles globally by the end of this year. And that's a wrap on your TNB Tech minutes. We'll have another quick tech update Monday morning.
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If you're waiting for your AI to turn into ROI and wondering how long you have to wait, maybe you need to do more than wait. Any business can use AI. IBM helps you use AI to change how you do business. Let's create smarter business. IBM.