Welcome to the latest edition of Week in Review (WiR), where we bring you the most significant events in the tech industry. This week, we witnessed some major developments, including Apple’s decision to halt its autonomous electric car project, Google’s AI mishap, and Bumble’s disappointing Q4 results. Let’s delve into the details of these headline-making stories and more.
Key Takeaway
Apple cancels its autonomous car project, Bumble grapples with disappointing financial results, and Google faces criticism over an AI blunder, reflecting the dynamic and unpredictable nature of the tech industry.
Apple Scraps Autonomous Car Project
Apple has made the surprising announcement to discontinue its ambitious endeavor to develop an autonomous electric car. This move has led to the potential downsizing of the team involved in the project, marking a significant shift in Apple’s strategic focus. The decision to halt the car project adds to a list of other initiatives that Apple has abandoned, including AirPower and a TV-related venture.
Bumble Faces Challenges
Bumble, the popular dating app, faced a setback as it reported weaker-than-expected Q4 results, with a net loss of $32 million and revenue of $273.6 million, falling short of Wall Street’s projections. In response, CEO Lidiane Jones announced plans to lay off approximately 30% of Bumble’s workforce, amounting to around 350 employees. Additionally, the company aims to revitalize its growth through a comprehensive app overhaul.
Google’s AI Blunder
Google found itself in an embarrassing situation due to an AI model that generated images with a lack of historical context, leading to widespread criticism. The tech giant issued an apology for the AI’s oversight, acknowledging the need for sensitivity and accuracy in such endeavors.
