In a speech prepared for a conference held on June 6 at the US Treasury Department, Ms. Yellen said there are enormous opportunities and significant risks associated with the use of AI by financial companies. has brought this issue to the top concern of financial managers.
Regarding opportunities, Ms. Yellen noted that AI is already being used by investors to support forecasting and portfolio management and by banks to combat fraud and support customer service.
Going forward, Ms. Yellen predicted that the “rapid development” of AI could pave the way to making financial services cheaper and more accessible, especially with advances in natural language processing. nature, image recognition and generative AI.
However, Ms. Yellen said that the use of AI by financial institutions will have risks associated with these opportunities. Last December, a group of top US regulators, led by Ms. Yellen, warned for the first time that AI was posing a risk to the financial system.
The Financial Stability Oversight Council, a group of regulators established after the 2008 financial crisis, has officially identified AI as an “emerging risk.”
– Support Vietnamese businesses to ‘take off globally’
Amazon Global Selling participates in the International Goods Supply Chain Connection Exhibition (Vietnam International Sourcing 2024), taking place from June 6 – 8, 2024 at the Saigon Exhibition and Convention Center (SECC), City. HCM.
At the Amazon Global Selling booth, visitors had the opportunity to experience many interactive activities, designed to help them explore the potential of cross-border e-commerce. In addition, visitors will also be updated with useful information with a handbook on the cross-border e-commerce industry and many other interactive activities to have a practical experience about the global sales model through Amazon.
For Vietnamese businesses that want to increase their readiness to participate in cross-border e-commerce export, Amazon Global Selling will also directly provide in-depth support and advice right at the event. This includes a series of selling workshops on Amazon that will take place to provide necessary knowledge and skills to help businesses do business and build global brands.
In addition, visitors and exhibitors at the event will also have the opportunity to receive 1:1 consultation with specific consulting information for each business to gradually resolve questions about cross-border e-commerce. . This is a unique opportunity not only to learn about new business opportunities but also to facilitate connections, exchange information and support potential business cooperation efforts.
– Vietnamese durian is winning over Thailand in China
In the first 4 months of the year, the number of Thai durians exported to China decreased by more than 35%, while Vietnam’s exports of this product to China increased by 91%.
The Import-Export Department (Ministry of Industry and Trade) cited statistics from the Chinese Customs Authority showing that in the first 4 months of the year, China’s fresh durian imports reached 202,500 tons, worth more than 1 billion USD, a decrease 35% in volume and 32% decrease in value compared to the same period in 2023.
The average price of fresh durian imported into China in the first 4 months of the year reached nearly 5,400 USD/ton, up 5% over the same period. In particular, Thailand is still the largest fresh durian supply market for China, however in the first 4 months of the year, China’s fresh durian imports from this market have decreased sharply.
Specifically, China’s proportion of fresh durian imports from Thailand in the first 4 months of the year has decreased to 60% of total imports, down nearly 27 percentage points compared to the same period in 2023. The main reason is due to Heat and drought have affected harvest yields.
Meanwhile, Vietnam is the second largest fresh durian supply market for China. Notably, China has sharply increased its imports of fresh durian from the Vietnamese market in the first 4 months of this year, reaching 79,300 tons, worth nearly 370 million USD, an increase of 91% in volume and an increase of nearly 82% in value. compared with the same period last year.
Fresh durian output imported from Vietnam currently accounts for more than 39% of the total amount of fresh durian imported from China, an increase of nearly 26 percentage points over the same period in 2023.
– The stock market has many companies worth 1 billion USD
Many companies worth $1 billion are contributing to the excitement of the stock market.
In a newly released report, the Ho Chi Minh City Stock Exchange (HOSE) said that as of May 31, on HOSE there were 42 businesses with a capitalization value of more than 1 billion USD.
Among them, there are two enterprises with capitalization of over 10 billion USD: Joint Stock Bank for Foreign Trade of Vietnam (VCB) and Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV).
According to HOSE, at the end of the last trading session of May, the VN Index reached 1,261.72 points, VN Allshare reached 1,306.29 points, VN 30 reached 1,275.97 points, an increase of 4.32%, 5.0%, respectively. 08%, 2.86% compared to the end of April and an increase of 11.66%, 13.15%, 12.77% compared to the end of 2023.
In May, all industry indexes recorded growth, most notably the energy industry index (VNENE) increased by 13.17%, the construction materials industry index (VNMAT) increased by 10.85%. , the consumer goods industry index (VNCOND) and the utility services industry index (VNUTI) both recorded an increase of 10.36% compared to April.
Regarding market liquidity, the average trading volume reached more than 826 million shares/day with a liquidity value of more than 21,594 billion VND/day.
Stock capitalization on HOSE reached more than 5.14 million billion VND, equivalent to 50.29% of GDP in 2023 (GDP at current prices), an increase of 4.41% compared to April and an increase of more than 12.83%. compared to the end of 2023, accounting for more than 93.88% of the total market capitalization of listed stocks.