Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul class="summary-list"><li>Research shows that ordering food for delivery has gotten expensive, yet demand remains high.</li><li>Pandemic habits and time-saving needs drive consumers to prioritize convenience.</li></ul>Convenience comes up with a pretty hefty cost these days.There's now a <a target="_blank" class="" href="https://www.businessinsider.com/ordering-food-through-uber-eats-doordash-gotten-wildly-expensive-2024-9">considerable difference in spending</a> between eating out and getting your meal delivered. But demand for food delivery has remained high — as has its price.The personal finance site FinanceBuzz did <a target="_blank" class="" href="https://financebuzz.com/compare-costs-food-delivery-apps">an experiment</a> in September and found that based on the cost to deliver an entrée, a side, and a drink from 10 popular chains on the same day within 3 miles — organizing dinner with an app such as DoorDash, Grubhub, UberEats or Postmates can cost almost double what it would to collect it yourself. This is when factoring in charges for food, fees, taxes, and suggested tips. Business Insider contacted these delivery companies for comment. Both Uber — which owns UberEats and Postmates — and Grubhub pointed out that restaurants also often set the menu prices for delivery, and these may sometimes be higher than when purchasing in-store. Still, diners aren't necessarily being deterred by the much higher prices.Last week, food delivery company DoorDash, reported an 18% rise in orders year over year in its third quarter of 2024. Revenue grew 25% to $2.7 billion in the same period.While Uber doesn't split out the results of its individual delivery companies, it saw gross bookings for its delivery segment grow by 16% year on year in Q3.So, why has delivery gotten this expensive?<h2 id="ef2204e7-2a73-4ce1-b97e-9e59db13fb63">Consumer competition</h2>"As app delivery has become more popular, apps have to pay more to <a target="_blank" class="" href="https://www.businessinsider.com/drive-for-uber-eats-after-layoff-would-not-recommend-2024-7">drivers</a> to convince them to make deliveries for their team — with many drivers juggling multiple apps throughout their shifts," Anthony Miyazaki, a professor of marketing at Florida International University, told Business Insider."At the same time, demand for delivery pushed consumers to unknowingly compete against each other, with <a target="_blank" class="" href="https://www.businessinsider.com/how-much-to-tip-food-delivery-driver-doordash-ubereats-2023-7">a willingness to pay more for delivery and more for tips</a> to get their food delivered on time," he said. A food delivery driver <a target="_blank" class="" href="https://www.businessinsider.com/how-delivery-driver-gets-big-tips-declines-orders-wealthy-areas-2023-4">previously told BI</a> that he decides to accept or pass on a variety of deliveries often based on the highest upfront tips.<div type="image" title="food on a table from doordash delivery service" height="528" width="772" msid="114979379" hostid="261" sizebytes="27174"></div>This led delivery app companies to take a higher cut from restaurants and raise fees for customers, while at the same time, drivers are looking for higher tips, Miyazaki explained, which all results in a much pricier food order.Matched with inflation resulting in the soaring prices of labor and commodities, many chains — including Starbucks, McDonald's, KFC, In-N-Out, and Olive Garden — <a target="_blank" href="https://www.businessinsider.com/fast-food-price-rises-tipping-point-value-deals-combos-mcdonalds-2024-8">have increased the cost of menu items</a>.There are a couple of reasons that, despite the hikes, Americans are still choosing the ease of using an app to get dinner.<h2 id="5a6cf862-4bfe-4ddc-b330-71cd4f343f80">Creatures of habit</h2><a target="_blank" href="https://www.businessinsider.com/changes-restaurants-pandemic-qr-codes-self-service-kiosks-2024-10">The way we dined changed</a> following the COVID-19 pandemic.But despite lockdowns coming to an end and the country gradually opening back up, people grew accustomed to the trend of ordering food."The pandemic has shifted dining habits, leading more consumers to seek out restaurant-quality meals at home," Alon Chen, CEO of Tastewise, a consumer data platform for food and beverage brands, said."Consumers now consider ordering takeout as a time-saving experience akin to dining out but in the coziness of one's living room," he said.For Miyazaki, because of the rise of streaming, more are comfortable with 'entertaining in' rather than going out for a meal."Also, with more people working from home, they're likely further from lunchtime restaurants and <a target="_blank" class="" href="https://www.businessinsider.com/work-from-home-lunch-experts-broken-not-take-breaks-2024-9">don't feel the need to get away from the office anymore for their lunch break</a>," he said.<h2 id="ad899ce2-c371-4933-b511-e71d9133d92b">Time is money</h2>Oliver Wright, a senior managing director and the global lead for consumer goods and services at Accenture, explained that consumers feel "time-poor."This means that although <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/cutting-out-cost-of-convenience-for-a-month-2021-11">more money is spent on ordering food</a> than cooking or eating in a restaurant, the customer is saving time, he told BI.The degree to which <a target="_blank" class="" href="https://www.businessinsider.com/why-doordash-instacart-still-delivering-lots-as-consumers-pull-back-2024-8">convenience and ease are playing on consumers' minds</a> to alleviate time pressure has become especially relevant in recent years, Wright said, to the extent that people are willing to spend more if time is saved."Feeling 'time-poor' is a really dominant attribute," he said."The value of time might be very high," Chris Olivola, an associate professor of marketing at Tepper School of Business, told BI.He said that for the rational consumer, whether because of the amount of money earned per hour, how much importance is given to an activity, or the contribution being made to a company, these food delivery apps are popular because of how they assess their time.It's also about expertise, he said."You might be a good cook, but if you want Thai food and you don't know how to cook Thai, you have to teach yourself, Olivola said, "and that takes time."

Food deliveries keep getting more expensive — but we can't stop ordering       

<keyword id="19950119" type="General" weightage="20" keywordseo="Tata-Consultancy-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Consultancy Services" meta.hostid="153" meta.entityid="Tata Consultancy Services">Tata Consultancy Services</keyword> (TCS), has expanded its partnership with <keyword id="20167467" type="General" weightage="20" keywordseo="Rolls-Royce" source="keywords" meta.keywordsubtype="org" meta.entityname="Rolls-Royce" meta.hostid="153" meta.entityid="Rolls-Royce">Rolls-Royce</keyword>, a British multinational specialising in civil aerospace, defence aerospace, services, and power systems, to advance sustainable aviation initiatives. According to a press release, the collaboration focuses on researching <keyword id="22499621" type="General" weightage="20" keywordseo="hydrogen-fuel-system-technology" source="keywords">hydrogen fuel system technology</keyword>, reinforcing the potential of hydrogen as a zero-carbon <keyword id="20178417" type="General" weightage="20" keywordseo="aviation-fuel" source="keywords">aviation fuel</keyword> of the future. TCS will supply engineering skills and support to Rolls-Royce to tackle three key challenges in enabling hydrogen for aviation- fuel combustion, fuel delivery, and fuel system integration with an engine. All elements must be validated for safe operation. This partnership highlights TCS's commitment to driving sustainable transformation across industries, aligning with its broader mission to harness technology for positive societal impact. The International Air Transport Association (IATA) has set targets for net zero carbon emissions by 2050. Alan Newby, Director, Research and Technology, Rolls-Royce, said, "We welcome TCS to our hydrogen research programme and their engineering skills will play a valuable role in addressing our technology goals. We've already made great progress and having TCS with us gives us additional capability as we move forward on our journey to enable the energy transition for the aviation sector." The expanded partnership was announced at the Farnborough International Airshow, where TCS also showcased its technological prowess in the aviation industry. This collaboration builds on a long-standing relationship between Rolls-Royce and the Tata Group, including engine development and a robust supply chain commitment. TCS has worked with Rolls-Royce since 2010 in areas such as design, manufacturing engineering, control systems, software, after-market services, and IT services, supporting major civil and business aviation programs and the end-to-end product development lifecycle. Anupam Singhal, President - Manufacturing, TCS, said, "The partnership between TCS and Rolls-Royce is an exciting one that represents a powerful alliance in the quest for <keyword id="22500175" type="General" weightage="20" keywordseo="sustainable-aviation-solutions" source="keywords">sustainable aviation solutions</keyword>. We are aligned with Rolls-Royce's ambition for a greener future. This partnership is the perfect opportunity to put our technological strengths and passion for the environment to use for advancing innovation and fostering an eco-friendlier aerospace sector." TCS will leverage its deep domain knowledge of the aircraft manufacturing industry to support Rolls-Royce's engineering activities such as system design, component design, supply chain support, and program management. These services will help Rolls-Royce research hydrogen technology to address the challenges of fuel combustion, fuel delivery, and fuel systems integration with an engine, ensuring all elements operate safely. Regu Ayyaswamy, Senior Vice President and Global Head- Internet of Things and Digital Engineering, TCS, said, "TCS and Rolls-Royce have been partners in advancing engineering excellence for nearly a decade. The new partnership for research into hydrogen fuel systems represents a pivotal next step at a time when the aviation industry is faced with the urgent challenge of reducing carbon emissions while maintaining performance and efficiency. It aligns well with TCS' commitment to harness technology for positive societal impact and building a greener future." TCS has been on a mission to harness the power of technology for positive societal impact and drive sustainable transformation across industries. With more than 200 sustainability offerings, TCS is helping customers around the world in their sustainability journeys. As a Tata group company, TCS is also conscious of its impact on the environment. In 2021, TCS set an ambitious sustainability target to reduce its absolute emissions by 70 per cent across Scope 1 and Scope 2 by 2025 from the baseline year 2016 and to achieve net zero by 2030. By FY24, TCS had already reduced its absolute carbon footprint across Scope 1 and Scope 2 by 80 per cent over a baseline of 2016, exceeding its target achievement by 10 per cent, one year ahead of time. (ANI)

TCS collaborates with Rolls-Royce for hydrogen research programme

<ul><li><keyword id="267073" type="General" weightage="20" keywordseo="EY" source="Orion">EY</keyword>, a multinational professional services advisory firm has said it will hire 25,000 tax professionals globally.</li><li>It will also be recruiting 6,000 people for its <keyword id="13892530" type="General" weightage="80" keywordseo="global-delivery-services" source="Orion">Global Delivery Services</keyword> (GDS) tax team.</li><li>Around 80% of the GDS tax team hiring will be done in India and the rest 20% will be done across the world.</li></ul>EY, a London-based multinational professional services company, is looking to hire 25,000 tax professionals globally. In an interview with Business Insider, EY said it will also recruit 6,000 employees for its Global Delivery Services (GDS) tax team across various countries including India. GDS is a global delivery network which is a part of EY. It collaborates with the company’s team for various projects across countries like Argentina, China, India, the Philippines, the UK, Poland, Hungary and the United States — with teams from all EY service lines. “I think globally, the tax department will be recruiting 25,000 professionals and GDS will have 6000 tax recruitments across multiple countries and that too in different areas,” <keyword id="13892533" type="General" weightage="20" keywordseo="Ashutosh-Rathor" source="Orion">Ashutosh Rathor</keyword>, global tax GDS leader and global tax industry leader told Business Insider India in an exclusive interview. Around 80% of the GDS tax team hiring will be done in India and the remaining 20% will be done in other locations around the world, said Rathor. EY has offices in these cities in India — Bengaluru, Chennai, Gurugram, Kochi, Kolkata, Mumbai, Noida, Trivandrum and Hyderabad. EY currently has around 65,000 professionals in the tax team and 14,000 in the GDS tax team. <cmsannotation type="cmsannotation" annotationid="EY hiring – here’s everything that aspirants should know" comment="subhead" text="EY hiring – here’s everything that aspirants should know">EY hiring – here’s everything that aspirants should know</cmsannotation> Professionals who know at least one foreign language will be given preference while being hired in the tax department. “We are tapping into some of the best talent and beyond campus experienced tax professionals especially with foreign language skills. To work with global teams, we would need experts with French, German, and Italian languages and obviously tax technical areas where we have folks with experience,” Rathor said. When we asked about particular skill sets the company is looking for in a candidate, Rathor said, “We are looking for skill sets ranging from income tax, corporate tax, indirect tax, individual tax, structuring and planning to legal managed services.” The opportunity is not only limited for professionals who have been working in this field but also for freshers. The company has rolled out a global competition for freshers named as ‘EY <keyword id="13892531" type="General" weightage="50" keywordseo="young-tax-professional-of-the-year" source="Orion">Young Tax Professional of the Year</keyword>’ who wish to start their careers in the tax profession. <cmsannotation type="cmsannotation" annotationid="EY also has internships on offer" comment="subhead" text="EY also has internships on offer">EY also has internships on offer</cmsannotation> Apart from hiring full-time professionals, EY also offers <a href="https://eyglobal.yello.co/job_boards/c1riT--B2O-KySgYWsZO1Q?locale=en">several internships for college students</a> as part of the company’s campus recruitment drive in various departments like corporate tax, transfer pricing, indirect tax and tax technology. The company claims that they ultimately hire their interns as full-time employees. “We have summer, spring and winter internships when students can join and learn and get hired for a full time career. Another program – Young Tax Professional of the year is a global program that EY runs globally.,” Rathor said. Rathor added that the attrition rate in the last financial year stood at 14%, claiming that it is the lowest among its peers. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/delhivery-delivers-parcels-to-over-90-of-india-but-will-its-ipo-deliver-profits-to-its-investors-heres-what-analysts-are-saying/articleshow/91470992.cms">Delhivery delivers parcels to over 90% of India, but will its IPO deliver profits to its investors? Here’s what analysts are saying</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/article/british-companies-are-choosing-profits-over-sustainability-contrary-to-public-expectations-study/articleshow/91466749.cms">British companies are choosing profits over sustainability, contrary to public expectations: Study</a>

INTERVIEW: EY to hire 25,000 professionals in the tax department

Declining for the second day in a row, <keyword id="19910265" type="General" weightage="20" keywordseo="gold-prices" source="keywords">gold prices</keyword> tumbled by ₹1,450 to ₹72,200 per 10 grams in the local market here due to profit-taking by traders and weak <keyword id="20837523" type="General" weightage="20" keywordseo="global-trends" source="keywords">global trends</keyword>. <keyword id="20762025" type="General" weightage="20" keywordseo="silver-prices" source="keywords">Silver prices</keyword> also tanked by ₹2,300 per kg. According to HDFC Securities, <keyword id="18712" type="General" weightage="20" keywordseo="gold" source="Orion">gold</keyword> prices declined by ₹1,450 to ₹72,200 per 10 grams in Delhi. The precious metal had closed at ₹73,650 per 10 grams in the previous session. Silver prices nosedived by ₹2,300 to ₹83,500 per kg. In the previous close, it had ended at ₹85,800 per kg. "Spot gold prices (24 carats) in the Delhi markets are trading at ₹72,200 per 10 grams, down by ₹1,450 amid bearish cues from overseas markets," Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said. In the international markets, spot gold at Comex was trading at USD 2,310 per ounce, down USD 55 from the previous close. Gold prices dipped further on Tuesday amid easing tension in the Middle East and signs that the <keyword id="19901377" type="General" weightage="20" keywordseo="US-Federal-Reserve" source="keywords">US Federal Reserve</keyword> will keep rates higher for longer, crimping demand. Traders also shifted their money flow from safe haven to riskier assets, leading to profit-taking in the precious metals following the recent rally, Gandhi said. Silver was also trading lower at USD 26.80 per ounce. In the previous session, it had ended at USD 27.95 per ounce. "Gold prices continued their downward trend and the decline was attributed to a sharp drop in Comex Gold, within a span of two days. "In the coming days, gold prices in MCX may find support near the ₹70,000 mark. However, if prices fall below this level, another sell-off towards ₹68,500 could occur, as risk sentiments of middle east cools off," Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities, said. Meanwhile, in the futures trade on the MCX, gold tanked ₹754 to trade at ₹70,443 per 10 grams. The most traded June contract hit an intra-day low of ₹70,202 per 10 grams. Further, silver contracts for May delivery were also trading lower by ₹728 or 0.9 per cent to ₹79,851 per kg on the bourse. "The market will be anticipating upcoming macroeconomic data on Manufacturing PMI and Services PMI from the US, UK, and Europe on Tuesday, while monitoring any developments on the geopolitical front," Chintan Mehta, Chief Executive Officer at Abans Holdings, said. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank">Google Pixel 8a may be more expensive than its predecessor, as per a new leak</a><a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india/slidelist/109529634.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india/slidelist/109529634.cms" target="_blank">Best smartphones under ₹25,000 in India</a><a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank">At 17, Indian chess prodigy D Gukesh becomes youngest challenger for World Championship</a>

Gold plunges ₹1,450 to ₹72,200, silver prices dive by ₹2,300

<ul class="summary-list"><li>I attended attended the World Economic Forum in Davos, Switzerland. </li><li>I had more than 20 conversations about AI over the span of four days.</li></ul>The annual <a target="_blank" href="https://www.businessinsider.com/davos-switzerland-world-economic-forum-spectacular-winter-scenery-alps-2024-1">World Economic Forum</a> just wrapped up in Davos, Switzerland, and talk of <a target="_blank" href="https://www.businessinsider.com/generative-ai-future-will-not-be-free-2024-1">artificial intelligence</a> was just about everywhere.The annual event brings together world leaders, billionaire founders, CEOs, academics, and nonprofit types to discuss the biggest topics of the day. The official WEF theme this year was rebuilding trust. And while there was plenty of discussion around changes to the global order, increasing geopolitical risk, and it being a huge election year, this was unquestionably the first <a target="_blank" href="https://www.businessinsider.com/everyone-talking-about-ai-plenty-clearly-dont-understand-davos-wef-2024-1">Davos</a> of a new AI era. Tech companies dominated the Davos Promenade, with AWS, C3.ai, Infosys, IBM, Builder.ai, Cisco, Qualcomm, Salesforce, and more paying for prominent spaces on the main street. OpenAI CEO <a target="_blank" href="https://www.businessinsider.in/tech/news/openai-ceo-sam-altman-unveils-vision-for-ais-impact-on-economy-and-society-at-wef-davos/articleshow/106978990.cms">Sam Altman</a> spoke at the event.<div type="image" title="Tata AI poster at Davos" height="1152" width="1536" msid="106999877" hostid="261"></div>I had more than 20 conversations about AI over the span of four days. Here are my takeaways:<h2>Copilots everywhere</h2><a target="_blank" href="https://www.businessinsider.com/blackrock-larry-fink-succession-boys-club-weidman-goldstein-2024-1">BlackRock</a> COO Rob Goldstein said the investing giant is rolling out AI copilots to staff, anticipating that AI will be able to produce first drafts of content such as meeting docs or primers. Jason Girzadas, the CEO of Deloitte US, said he'd just gotten trained on <a target="_blank" href="https://www.businessinsider.com/microsoft-copilot-everyday-ai-companion-paid-subscription-2024-1">Microsoft 365</a> Copilot. And the consulting firm Oliver Wyman Group created a generative-AI tool called LenAI that some users said saved them eight hours a week.<h2>Tasks versus jobs</h2>Amid lots of concern about how AI will impact the workforce (scroll down for more on that), several of those I spoke to drew a distinction between tasks, which have a narrowly defined process and outcome, and jobs, which are a collection of tasks. AI won't generally replace jobs, these people said, but it will absolutely automate tasks. Take someone who works in recruitment. Maybe their job involves paperwork, identifying and meeting with candidates, and providing strategic counsel to employers and prospective employees. The paperwork can most likely be heavily automated, potentially freeing up that recruiter for more human-to-human interactions. <h2>Big savings</h2>Deb Cupp, the president of Microsoft Americas, said in a panel discussion that the software giant saved $100 million in its customer-service operation by implementing AI. Similarly, Mihir Shukla, the CEO of Automation Anywhere, said the company cut customer-service costs by 40% while seeing improved performance since introducing AI.<h2>Workforce concerns </h2>Of course, whenever there's talk of cost savings and increased productivity, there's understandable concern that this is code for job losses. "There is an equal measure of excitement and wanting to engage with it and nervousness about what it's going to do for them and their jobs," Tanuj Kapilashrami, the chief human resources officer at Standard Chartered, said of employees and AI on one panel.A recent survey found that 51% of global executives, 50% of global CEOs, and 52% of US CEOs said <a target="_blank" href="https://www.businessinsider.com/will-ai-replace-jobs-generative-artificial-intelligence-tools-training-ceos-2024-1">job replacement</a> could be one of the effects of adopting AI in their businesses.Ana Kreacic, the chief knowledge officer at Oliver Wyman, said that in some cases, productivity was actually declining because workers were paralyzed by their fear of the technology. <h2>Reskilling</h2>That means it will be crucial to find ways to retrain workers for the human tasks that are still necessary in the AI era. At Automation Anywhere, which, as its name suggests, works on automating work, the customer-service team shrank when AI was implemented. But some of those customer-service agents found new roles at the company, either in customer success or in technical roles, based on their transferable skills. Shukla said the business world had defined roles increasingly narrowly as companies looked to industrialize their operations and scale. In the age of AI, the workforce will be more fluid, he said.Becky Frankiewicz, the chief commercial officer at ManpowerGroup, echoed this, saying the age of the static job is over, and employees will have to continually upskill and reskill in the future. This means employers should look for potential hires who are adaptable and have the ability to learn quickly rather than focus on specific skills that could soon be redundant.<h2>From small to scale</h2>If 2023 was the year of the pilot study, then 2024 will be the year of operationalizing AI, Lareina Yee, a senior partner at McKinsey, told me. Others I spoke to agreed: Many businesses have small-scale AI experiments running, often with promising results so far. The challenge is in taking that pilot and specific-use case and scaling it.<h2>Different models</h2>While "<a target="_blank" href="https://www.businessinsider.com/how-to-create-ai-materials-resources-guide-2023-9">LLM</a>" (large language model) might have been up there with WEF as the acronym of Davos 2024, many of those I spoke to stressed the difficulties with multipurpose models trained on giant datasets like OpenAI's <a target="_blank" href="https://www.businessinsider.com/openai-gpt4-ai-model-got-lazier-dumber-chatgpt-2023-7">GPT-4</a>.In many cases, the most effective AI tools, particularly for corporate use, are those that have narrowly defined purposes and have been trained or fine-tuned on exclusive, bespoke datasets. For example, McKinsey built an AI tool that's trained on the consulting firm's rich archive of PowerPoint presentations, white papers, and Excel spreadsheets and helps consultants get up to speed on specific topics more quickly."There will be different classes of models for different contexts," said Satish H.C., an EVP and cohead of delivery at Infosys.<h2>Cost</h2>Then there's the <a target="_blank" href="https://www.businessinsider.com/mark-zuckerberg-ai-flex-meta-nvidia-gpus-2024-1">cost</a> involved. These AI projects are expensive, and not every company has the financial or human capital to pursue an ambitious AI strategy. Plus, not every AI project will generate a positive return on investment, especially when factoring in not just the cost of the tech itself but the costs of changing workflows and retraining staff.<h2>Augmentation … for now </h2>There are always a few buzzwords that emerge at every Davos, and augmentation was one of those this time around. The idea is simple: Rather than replacing humans, AI will superpower them, taking on some of the most boring and repetitive tasks and freeing them up for higher-level work. "As machines get better at being machines, humans can get better at being humans," said Kapilashram from Standard Chartered.That certainly seems to be supported by the research so far. But some questioned how long that could last. <a target="_blank" href="https://www.businessinsider.com/google-deepmind-ai-could-run-businesses-in-five-years-2024-1">Mustafa Suleyman</a>, the cofounder of the AI pioneer DeepMind who now runs the startup Inflection AI, predicted that AI will be so business savvy by 2030 that it may be capable of acting like an entrepreneur, mini project manager, or inventor by manufacturing, marketing, and selling products for profit."We are going to have not just those capabilities, but those capabilities widely available for very cheap," he said. "I think that completely changes the economy."At a panel where Kapilashram was speaking, Azeem Azhar, who writes the Exponential View newsletter, noted that when AI-powered game engines emerged, the hybrid of human players plus AI outperformed for about eight years. Now, though, the AI game player wins out.Dan Vahdat, the founder and CEO of Huma Therapeutics, said that while we might think of empathy as a distinctly human characteristic, <a target="_blank" href="https://jamanetwork.com/journals/jamainternalmedicine/article-abstract/2804309">research</a> published last year showed that patients found AI chatbots to be more empathetic in their communication than medical professionals. <h2>A few final words</h2>The computer scientist Roy <a target="_blank" href="https://www.businessinsider.com/ai-stocks-enter-correction-territory-chart-analysis-2023-8">Amara</a> is often credited with first saying that we overestimate the impact of a technology in the short term and underestimate its impact in the long term. AI will likely be no different.

What the global elite are saying about AI behind closed doors

<ul class="summary-list"><li><keyword id="11931723" type="UNKNOWN" weightage="60" keywordseo="doordash" source="Orion">DoorDash</keyword> shares jumped 21% on Wednesday on a deal to buy Wolt for $8.1 billion. </li><li>Finland-based Wolt operates in 23 countries which will expand DoorDash's global presence. </li></ul><a href="https://markets.businessinsider.com/stocks/dash-stock">DoorDash</a> shares soared Wednesday after the company reached an all-stock deal to buy Wolt, with the €7 billion ($8.1 billion) agreement to buy the Finnish food-delivery company supporting a global expansion. DoorDash separately reported third-quarter revenue that surpassed expectations but a wider loss than anticipated by analysts. The stock price surged as much as 21% to $232 then pared the gain to 13%. The stock had risen about 35% during 2021 ahead of the Wolt announcement. DoorDash equity issued as part of the deal will be valued at $206.45 per share, based on DoorDash's 30-day volume-weighted average price as of November 3. Wolt has "superb consumer loyalty and retention rates," said DoorDash in a <a href="https://ir.doordash.com/news/news-details/2021/DoorDash-Joins-Forces-with-Wolt/default.aspx">Wednesday statement about the transaction</a> that should close in the first half of 2022. Wolt's platform operates in 23 countries under a team of more than 4,000 employees. "By joining forces, we believe we will accelerate our product development, bring greater focus to each of our <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword>, and improve the value we provide to consumers, merchants, as well as Dashers and couriers around the world," said DoorDash CEO Tony Xu, in the statement. Xu established DoorDash in 2013 along with then-fellow Stanford University students Andy Fang and Stanley Tang. Wolt, founded in 2014 in Helsinki, offers delivery services from restaurants, grocery and other local stores in its home country, across Europe including Germany and the Czech Republic, and in Israel and Japan. DoorDash also operates in Japan, and the deal will expand its operations beyond the US, Canada, and Australia. DoorDash runs in more than 7,000 cities. Absent from the list of countries is the UK, where rival UberEats operates. "DASH continues to execute very well against an uncertain Pandemic re-opening backdrop, and in Wolt seems to have found an asset that is a cultural fit and designed to be easily portable to new countries" and geographies, said Tom White, senior research analyst at D.A. Davidson, in a note upgrading its price target to $210 from $158.Wolt will bring its team of 4,000 employees to Dash, a move that will help preserve bandwidth for DoorDash's management to keep pursuing opportunities in the core US market, said White. D.A. Davidson remains neutral ratings-wise primarily because of Dash's valuation. The deal should add to DoorDash's growth in gross order value in 2022 and the company foresees proforma combined adjusted EBITDA of up to $500 million next year. The agreement includes a new retention pool of about €500 million reserved for Wolt management and employees.Wolt's co-founder and CEO Miki Kuusi will report to Xu. Meanwhile, DoorDash said third-quarter revenue increased to $1.28 billion from $879 million a year ago, higher than the Refinitiv estimate of $1.18 billion. Its per-share loss was $0.30, wider than expectations of a loss of $0.26 but narrower than the year-ago loss of $0.96 a share. The idea for DoorDash stemmed from a 2012 <a href="https://medium.com/@DoorDash/the-doordash-story-b370c2bb1e5f">meeting with a macaroon store manager</a> in Palo Alto, California, who needed help delivering orders.

DoorDash leaps 21% as $8 billion deal to buy Wolt set to expand global food-delivery operations

<ul class="summary-list"><li><keyword id="2850943" type="PERSON" weightage="60" keywordseo="Deliveroo">Deliveroo</keyword> shares tumbled 30% at its market debut by opening well below the price of its IPO.</li><li>It's gone from "hero to zero" as its market debut fell flat on its face, AJ Bell's Russ Mould said.</li><li>Deliveroo began trading on the <keyword id="117776" type="CITY" weightage="60" keywordseo="London-Stock-Exchange">London Stock Exchange</keyword> on Wednesday under the ticker "ROO."</li></ul>Deliveroo fell as much as 30% in the food delivery-startup's public trading debut on Wednesday, marking a downbeat start to the biggest initial public offering in London in a decade.The company's shares were trading at an intraday low of 271 pence ($3.78) per share, lower than the offering price of 390 pence ($5.35). The price recovered to 313 pence ($4.31) at 8:45 a.m. London time."Deliveroo has gone from hero to zero as the much-hyped stock market debut falls flat on its face," said AJ Bell investment director Russ Mould. "It had better get used to the nickname 'Flopperoo'." The UK-based company had priced 384.6 million shares at 390 pence per share, the bottom of its marketed range between 390 pence and 410 pence ($5.65), hoping to target a valuation of 7.6 billion pounds ($10.5 billion). But it's the first of London's top five deals this year that wasn't able to open at its highest targeted valuation, shedding more than 2 billion pounds ($2.7 billion) in market value on its trading debut.Analysts say its IPO took a turn for the worse when multiple fund managers said they wouldn't back the business due to concerns about working practices, spooking many that applied for its shares and possibly racing to dump them."It reflects the cautious approach big funds have shown to the stock amid concerns about working practices and governance," said Neil Wilson, chief market analyst at <keyword id="31671" type="CITY" weightage="60" keywordseo="markets">Markets</keyword>.com. "A lot of the big UK funds are not on side, which was failure number one."Amazon-backed Deliveroo, which trades on the London Stock Exchange under the ticker symbol ROO, raised 1.5 billion pounds ($2.1 billion) via proceeds from investors. It could have raised 1.77 billion pounds ($2.4 billion) had the company priced its shares at the higher end of its IPO range. But its offering was priced at the lower end because of a drop in shares for food-service firms such as <a href="https://markets.businessinsider.com/stocks/tkayf-stock">JustEat</a> and <a href="https://markets.businessinsider.com/stocks/dlvhf-stock">Delivery Hero</a> on Monday, the <a href="https://www.wsj.com/articles/amazon-backed-deliveroo-secures-10-5-billion-valuation-in-london-ipo-11617104970?mod=e2tw">Wall Street Journal reported</a>, citing a spokesperson.The company grew to the point of launching on the stock market partly thanks to the exploitation of its workers, said Connor Campbell, a financial analyst at SpreadEx. "Now, said exploitation is one of the main reasons behind its sour start to life as a public company," he said.It approached its market debut uniquely compared to other IPOs. Only institutional investors are able to participate in Deliveroo's market debut on March 31, but private investors buying into its 50 million pounds ($68.6 billion) <a href="https://primarybid.com/ipo/deliveroo-open">community offer</a> can participate once unconditional trading begins on April 7. Deliveroo was founded in 2013 by former banker Will Shu and his childhood friend Greg Orlowski. The British firm offers food, groceries, and alcohol for delivery on demand via an app, and ferries goods out to consumers through a network of gig-economy riders.Its IPO will be a test for the UK <keyword id="6358815" type="UNKNOWN" weightage="60" keywordseo="tech">tech</keyword> startup industry, where valuations for unprofitable, high-growth companies have become increasingly bullish, even as public investor appetite for riskier businesses remains largely untested.The company faces stiff competition in the sector from direct rivals Uber Eats and Just Eat, plus niche grocery delivery apps such as Gorillas, Getir, and Weezy.Deliveroo primarily makes money by charging its restaurant and grocery partners a commission on each order, up to 35% in some cases. Though hoping to permanently benefit from an uplift in takeaway orders during the pandemic, the firm remains loss-making.The firm reported a £225.5 million ($311 million) pre-tax loss for the full-year 2020, a narrower loss than the £317.7 million ($438 million) it lost in 2019. Revenues were up 54% to £1.1 billion ($1.5 billion) from 2019.Other revenue streams include its subscription programme for regular consumers who want lower delivery fees; food procurement deals; licensing out its "Editions" dark kitchens to restaurant brands; and its "Signature" marketing platform.Its listing is also closely watched thanks to its dual-class share structure, which sees Shu retain control over the firm in a model similar to US listings. The CEO will be granted 20 votes per share, while other shareholders will receive one vote per share.The IPO is set to make Shu a wealthy man, since he plans to sell approximately $36 million in shares, leaving him with a stake in the company worth around $662 million.While Deliveroo has indicated that demand from institutional investors exceeded supply in the run-up to its IPO, a number of big firms <a href="https://www.businessinsider.com/rathbones-multi-asset-to-skip-deliveroo-ipo-governance-profitability-2021-3">publicly stated they would not back</a> the company.Aviva, Rathbones, Legal &amp; General, and others variously cited Deliveroo's lack of profitability, and <a href="https://www.businessinsider.com/deliveroos-ipo-beset-by-criticism-over-worker-pay-profitability-2021-3">the reputational and financial risk</a> posed by the fact its riders are gig-economy contractors rather than workers entitled to a minimum wage.That comes <a href="https://www.businessinsider.com/uber-reclassify-uk-drivers-minimum-wage-benefits-supreme-court-defeat-2021-3">after the Supreme Court ruled in February</a> that ride-hailing giant Uber needed to reclassify its drivers, also deemed contractors, as workers and pay them holiday pay and a minimum wage.The IWGB, a British union representing gig economy workers, said it was organizing a strike of Deliveroo riders on April 7, when unconditional trading begins.Goldman Sachs and JPMorgan are joint global coordinators on Deliveroo's IPO, while Bank of America, Citigroup, Jefferies, and Numis Securities are join bookrunners.<a href="https://www.businessinsider.com/deliveroo-ipo-lse-investing-strategy-how-to-invest-investor-interest-2021-3">Insider breaks down everything investors need to know about Deliveroo's IPO - from its dual class structure to who's making money and who's shunning it.</a>

Deliveroo goes 'from hero to zero' after tanking 30% at its London IPO as investors get tough on gig-worker rights

<ul class="summary-list"><li>Record temperatures across the country are increasing the physical strain of delivery work.</li><li>Delivery workers outside the hottest US states aren't used to working in dangerous temperatures.</li></ul>One hundred and twenty-four <a href="https://www.usnews.com/news/health-news/articles/2021-09-30/the-growing-threat-of-urban-heat-islands" target="_blank" rel="noopener">degrees in Portland</a>, Oregon; 107 degrees in <a href="https://www.washingtonpost.com/climate-environment/2022/09/02/western-heatwave-california-fire-drought/" target="_blank" rel="noopener">Yosemite National Park;</a> 88 <a href="https://www.wcax.com/2023/04/13/burlington-temperature-soars-into-record-breaking-territory/" target="_blank" rel="noopener">degrees in Vermont</a> — in April. The climate crisis may be a creeping threat at a global level, but on the local level, it's playing out in big jumps. And when it is uncomfortably, unseasonably, intolerably hot, those jumps inspire the thought: "Wouldn't it be nice to skip the store and have that delivered?" But for the workers making those deliveries, their jobs are getting more dangerous with every degree — and these temperatures are no longer confined to certain regions of the country. The true toll of heat stress isn't known, and there's no simple fix to the risk it presents. Some of the best strategies to fight dangerous heat push against profits. "This is one of the most brutal jobs out there day in and day out," a FedEx contractor in the South said. "You can't just go out there and deliver 150 to 200 boxes on a whim. The next day you can't move. It takes time to acclimate." The contractor asked to remain anonymous because they are not authorized to speak with the media.When recruiting new drivers, they have a routine intended to scare applicants away."We're pretty brutal about it. If they stay after the brutal parts, we'll tell them about the good parts," the worker said. Traditionally, the cons of the job have been dealing with <a href="https://www.businessinsider.com/post-office-amazon-delivery-dog-bites-service-suspension-2023-2">territorial dogs</a> and prickly customers and the strain of carrying heavy packages. Now, the stress and outright danger of facing the heat are at the top of the list. "The <a href="https://eos.org/articles/in-the-pacific-northwest-2021-was-the-hottest-year-in-a-millennium" target="_blank" rel="noopener">Pacific Northwest heat wave in 2021</a> pretty much showed that everywhere is vulnerable," Jeff Goodell, the author of "The Heat Will Kill You First," told Insider.Extreme heat threatens some 15 million people who power the "sweat economy," Goodell said. That number includes delivery drivers and everyone else whose jobs keep them outside at least some of the time — such as farm and construction workers — and the millions more who work inside poorly ventilated and barely temperature-controlled buildings and warehouses.In recent years, the number of delivery drivers reporting heat-related illnesses was second only to construction workers, according to Occupational Health and Safety Administration statistics <a href="https://www.eenews.net/articles/heat-heightens-risks-to-delivery-workers/" target="_blank" rel="noopener">reported by E&amp;E News.</a> And when it comes to delivery workers, at least, companies are coming to the realization that this major threat requires concerted attention. <div type="image" title="A sweaty Amazon driver wipes his face with a towel." height="2984" width="3978" msid="102147073" hostid="261"></div><h2>Heat deaths often stay hidden</h2>An ice chest, 15 bottles of water, and two towels: That's the daily checklist for a nearly 20-year-veteran UPS driver in Northern California who spoke to Insider. His first introduction to heat exhaustion in July 2017 changed his perspective forever. "I started feeling so weak that I was slumped over on the steering wheel. I was walking to a stop with a 10-pound package and it felt like 50," he said on the condition of anonymity. He staggered and then vomited. He didn't call an ambulance, but in hindsight, he said he probably should have. The temperature that day was 106 degrees. In the years since, the town where he's based hit a record 116 degrees. But heat can be dangerous even if it doesn't break records. The 2022 death of <a href="https://www.businessinsider.com/ups-employees-shocked-death-24-year-old-driver-2022-7">24-year-old Esteban Chavez</a>, a UPS driver in Southern California, made national headlines. On the day he died, the high in Pasadena was 97 degrees, according to AccuWeather. Chavez wasn't the <a href="https://www.nytimes.com/2022/08/20/business/ups-postal-workers-heat-stroke-deaths.html" target="_blank" rel="noopener">first UPS driver to die</a> on the job on a hot day. He wasn't even the only delivery driver to <a href="https://abcnews.go.com/US/texas-sweltering-record-breaking-temperatures/story?id=100278677" target="_blank" rel="noopener">die that month,</a> ABC News reported.His death came less than a year before the International Brotherhood of Teamsters, which represents UPS workers, began renegotiating its contract with UPS. The tragedy galvanized the union to make heat a top priority in <a href="https://www.businessinsider.com/ups-teamsters-contract-negotiations-issues-pay-massive-strike-looming-2023-7">ongoing contract negotiations</a> — and it became an early win in <a href="https://www.businessinsider.com/ups-teamsters-union-reach-deal-avoid-strike-contract-pay-2023-7">fraught negotiations that resulted in a last-minute deal on Tuesday. </a>The manner of death was described as "natural causes" by the Los Angeles County Coroner's Office. <a href="https://www.bls.gov/opub/ted/2023/36-work-related-deaths-due-to-environmental-heat-exposure-in-2021.htm" target="_blank" rel="noopener">Labor Department statistics</a> show that between 32 and 56 worker deaths resulted from heat exposure each year between 2017 and 2021. Goodell said the low numbers are unsurprising since officials aren't always aware that heat has contributed to those deaths. "As our bodies heat up, our hearts are pumping faster and faster, trying to get blood to the surface of the skin to cool off. And that puts a tremendous strain on the heart," Goodell said. "In fact, most heat deaths are from some kind of cardiac failure."A UPS spokesperson told Insider via email that following the death of Chavez, the California Division of Occupational Health and Safety investigated UPS's heat training and programs and no citation was issued.<div type="image" title="A UPS driver keeps a towel on his head while driving along Broadway during warm weather on July 6, 2012 in New york City." height="683" width="910" msid="102147074" hostid="261"></div><h2>Companies are changing, but there's no simple fix</h2>UPS has agreed to equip all newly purchased vans with air conditioning and install fans in all cabs. It will also install heat shields to keep the floors of the vans cooler and add air-intake systems to funnel cooler air from the cab into the cargo bay.While adding air conditioning is a start, it's not a catchall solution. With just minutes between stops and hot air rushing in every time the door opens, "the vehicle is really no refuge from the heat," one Amazon delivery contractor operating in New York City told Insider. Amazon, FedEx, UPS, and the US Postal Service say they have mandatory heat-safety training for drivers covering how to stay cool and how to spot the signs of heat-related stress. Most facilities have ice machines, said xxx. UPS has brought in new company-issued gear — cooling sleeves and hats that when wet, stay 30 degrees cooler than body temperature for roughly 45 minutes. Amazon provides drivers with coolers, tumblers, electrolyte powder, cooling bandanas, and sunscreen, the company said."The big problem is that outdoor workers, whether it's at FedEx or the agricultural workers that I talked about in my book, whether it's the guys who are working on the asphalt crews here in Texas, they fear that if they take breaks and retreat to the shade in the middle of the day when it's really hot, they're gonna get fired," Goodell said. <div type="image" title="A black man in a postal uniform wipes his sweaty brow in the shade of his truck." height="1600" width="2133" msid="102147075" hostid="261"></div><h2>Heat protection is at odds with efficiency</h2>Water, ice, towels, and air conditioning help, but the one thing that's hard to provide is flexibility. "The driver calls and says 'I'm overheated and the manager says take 30 minutes. But the system says 'Hey whats wrong — you stopped for 30 min?," the Amazon contractor said on the condition of anonymity since they are not authorized to speak to the press. The [company/facility] now schedules extra staff on days when the temperature is forecasted to be over 89 degrees. In New York City, humidity is likely to make it feel much hotter and a predictable percentage of drivers will call out sick the following day, he said. An Amazon spokesperson told Insider that last year the company worked with its delivery contractors to adjust routes so drivers could take additional breaks — adding up to two hours of break time on some routes. "How often and how long breaks are needed is an important part of the conversations our drivers are encouraged to have with their managers," a UPS spokesperson said. A FedEx spokesperson said drivers are encouraged to take breaks when needed. Shade and water breaks can be lifesaving in the summer, but labor laws largely haven't caught up with climate science.Some states mandate shade and water breaks for outdoor workers — most don't. Gov. Greg Abbott of Texas recently signed a bill that effectively <a href="https://www.texastribune.org/2023/06/16/texas-heat-wave-water-break-construction-workers/" target="_blank" rel="noopener">eliminated mandatory water breaks</a> for construction workers. What may be required in the long run is the one thing that most logistics companies — especially those delivering online orders expected in a few days — could struggle to do. They may have to slow down. "The simple fact is too much exposure to high temperatures is a health risk and a mortality risk," said Goodell. "And you can certainly imagine that delivery personnel can operate in high temperatures if they're well equipped. But there's a limit, and it's simple physics."

Scorching temperatures are making delivery a dangerous job &mdash; and it's only getting worse

<ul class="summary-list"><li>FedEx shares sank nearly 24% Friday after the delivery giant scrapped its financial guidance for the year.</li><li>It now calls for much lower quarterly profit due to the speed of worsening in the global economy.</li></ul><a href="https://markets.businessinsider.com/stocks/fdx-stock">FedEx</a> shares tumbled over 24% Friday after the company issued a profit warning and scrapped its previous earnings guidance for the year, linking the move to a worsening global economy.The package delivery giant said delivery volumes fell in recent months, as a slowdown in global economic activity got faster in August. It now expects global demand to fall further in the next quarter, leading it to withdraw the financial outlook for fiscal 2023 that it put out just three months ago.FedEx reported revenue and profit for the three months to August 31 that missed Wall Street targets, in a financial update Thursday. It called out macroeconomic weakness in Asia and service challenges in Europe as key factors.Asked by <a href="https://www.cnbc.com/2022/09/15/fedex-ceo-says-he-expects-the-economy-to-enter-a-worldwide-recession.html">CNBC's Jim Kramer</a> whether he expects the economy to go into a worldwide recession, FedEx's CEO Raj Subramanian said: "I think so. But you know, again — these numbers, don't portend very well."The company said it plans to close 90 offices, <a href="https://www.businessinsider.com/hiring-freeze-things-to-think-about-your-company-2022-5">freeze hiring</a> and keep aircraft on the ground as part of an effort to cut costs. It aims to cut spending from $6.8 billion to $6.3 billion over the next year.FedEx shares fell 23.9% to $155.62 after the release of its preliminary fiscal first-quarter results. The stock had fallen 21% for the year as of Friday's opening bell, compared to the <a href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500'</a>s 16% fall."Global volumes declined as macroeconomic trends significantly worsened later in the quarter, both internationally and in the US," Subramanian <a href="https://investors.fedex.com/news-and-events/investor-news/investor-news-details/2022/FedEx-Reports-Preliminary-First-Quarter-Financial-Results-and-Provides-Update-on-Outlook/default.aspx">said in a company statement</a>."We are swiftly addressing these headwinds, but given the speed at which conditions shifted, first quarter results are below our expectations," he added.FedEx now sees a profit of $3.33 a share for its first quarter, compared with Wall Street's forecast of $5.14 a share. While revenue rose 5% from a year ago to $23.2 billion, it still falls short of expectations for $23.6 billion.FedEx is often seen as an economic bellwether because its results reflect demand for the wide range of goods it delivers. Shares have now fallen to their lowest level since August 2020.This story was updated to reflect the stock's price when markets opened.Read more: <a href="https://www.businessinsider.com/stocks-to-buy-in-a-recession-goldman-sachs-reveals-12-picks-2022-9">Goldman Sachs reveals new stock market and economic growth forecasts including a very bleak 'recession scenario' S&amp;P 500 prediction — and names 12 stocks to buy if it comes true</a>

You Searched For "global delivery services" and got 9 results

Food deliveries keep getting more expensive — but we can't stop ordering

Nora Redmond

TCS collaborates with Rolls-Royce for hydrogen research programme

ANI

INTERVIEW: EY to hire 25,000 professionals in the tax department

Vaamanaa Sethi

Gold plunges ₹1,450 to ₹72,200, silver prices dive by ₹2,300

PTI

What the global elite are saying about AI behind closed doors

Matt Turner

DoorDash leaps 21% as $8 billion deal to buy Wolt set to expand global food-delivery operations

Carla Mozée

Deliveroo goes 'from hero to zero' after tanking 30% at its London IPO as investors get tough on gig-worker rights

Shalini Nagarajan,Shona Ghosh

Scorching temperatures are making delivery a dangerous job and it's only getting worse

Emma Cosgrove

FedEx shares sink over 24% after the delivery giant ditches its earnings outlook and warns of a worsening global economy

George Glover

Popular Keywords

Buying Guides