First futuristic hotel opened by Ali Baba in China

Ali Baba, the internet giant from China has finally opened their first hi-tech hotel in a place called Hangzhou. In this high tech hotel, guests will be able to check into the hotel simply by scanning their face in a machine.

Fly Zoo Hotel, located in Hangzhou and the capital city of east China, has headquarters of Ali Baba. This place is known for having the first future hotels. Customers will be able to scan their face and simply check into the hotel without any kind of paperwork which is necessary in a normal hotel. The facial recognition system which customers use during check in can also be used as a key to their rooms. The rooms will only unlock with the user’s face.

The face basically works as a key card to open the doors of the room. There is a digital assistance created by Ali Baba in the room with help of which, users can control the light and the TV with their voice commands. This hotel has robots which are generally deployed to serve food to the guests and also make cocktails for them.

Also Read: Malaysia to file criminal charges in court against Goldman Sachs

All the hotel booking and check out can be done by the guests with help of a mobile application which is very much easy to use. The Artificial Intelligence technology which is used throughout this hotel helps customers save a lot of time and have a great customer experience.

All the hotel employees are relieved from repetitive work and robots do most of the work in a much more efficient manner. According to Ali Baba, the new Artificial Intelligence will help to increase the efficiency of the management of the hotel and this will also help to reduce the manual labor force.

Ali Baba is now encouraging a lot of other hotels, which want to go high tech to adapt all the technology that they have adapted so that they are able to establish a more tech friendly hotel around the world. In the fiscal year, which ended in March 2018, the company was able to generate revenue of USD 39.9 billion. With help of this example, it can be explained that how all the tech giants in China are moving into a much more traditional industry such as a hotel industry and also bringing their tech experience along with it to make the industry better in every way.

Also Read: Ada nets to receive a funding of $19 million in Series A which is another tech commerce giant announced in October that they will be working on all the latest smart home devices so that they are easily able to make each and every home smart along with their latest devices.

In the month of July, another company called Baidu started working with Intercontinental Hotel Group which is in Beijing to allow their guests using an assistant which is voice controlled to adjust their room temperature and order room service easily without having to call reception.

Malaysia to file criminal charges in court against Goldman Sachs

According to reports, Goldman Sachs in under strict surveillance in at least six different countries for its presence in the scandal of 1 Malaysia Development Bhd state fund.

Malaysia has finally decided to go ahead with charging criminal charges against Goldman Sachs and two of its employees in their connection to the corruption and money laundering probe at the 1 Malaysia Development Bhd. Goldman Sachs, which is basically a United States of America based investment bank has been facing a lot of scrutiny because successfully raised up to $6.5 billion in three bond offerings for the 1 Malaysia Development Bhd. It is currently under strict investigations in a few of the countries because of this bond offering.

Tommy Thomas, who is basically Malaysia’s Attorney General gave a statement on 17th of December stating all the charges against Goldman Sachs has already been filed. Charges are also being filed against the subsidiaries of Goldman Sachs. Charges also include filing against Tim Leissner, Jasmine Loo Ai Swan, and Low Taek Jho, who were former employees of the 1 Malaysia Development Bhd. A Goldman Sachs employee Roger Ng Chong Hwa is also charged by Malaysia.

The charges which are filed are all because of false and misleading statements given by company to dishonestly use $2.7 billion with help of these three bonds issued. Goldman Sachs has come out and said that they have done nothing wrong and they have denied all the allegations against them.

Also Read: Ada nets to receive a funding of $19 million in Series A

Goldman Sachs has mentioned in an email that all the charges filed by Malaysia are all misdirected and they will be happy to cooperate with the investigations which will be done by all the authorities.

According to reports, Goldman Sachs has successfully able to pocket $600 million from the three bonds they had with 1 Malaysia Development Bhd. According to Thomas, the fees are often higher compared to the market rates. Leissner and NG have also said that they have received a higher amount of bonuses and it had nothing to do with the bond.

According to Thomas, these allegations, which are put by Malaysia are all violation of their securities law and Malaysia will have to end up paying for all the criminal fines. Malaysia is looking for jail terms up to 10 years on each of the people who are involved in this case.

Leissner, the former chairman of Goldman Sachs of South East Asia and NG the managing director of Goldman Sachs, are serving for criminal charges because of the 1 Malaysia Development Bhd case in the United States. These charges have now converted into a total scandal that has shocked the whole industry of investment banks.

Also Read: Larry Ellison stated that no one will ever be able to shift from Oracle database to Amazon

According to authorities of the United States, a total of $2.7 billion has been embezzled from the state fund by Goldman Sachs and the money was used to buy houses and private jets and also finance films like Wolf of Wall Street.


Ada nets to receive a funding of $19 million in Series A

Ada was finally able to successfully raise an investment of $19 million in their Series A so that they are able to grow their chatbot which is designed for a better customer service experience.

The main focus of Ada is to build a chatbot which is powered by Artificial intelligence so that people can experience better customer support. It was announced by the company that they have finally able to receive an investment of $19 million on their Series A.

According to the company, this investment will help them to reach their goal faster and in an efficient manner. The company will be focusing on doubling down their employees to hit the market soon. This is the perfect time for expansion and launching new products for the company.

Chatbots are specifically a buzz for quite a long period of time. People used to talk about them, but none of the technology companies tried to develop the idea. After the build-up of chatbot on initial days, the company started working hard to achieve the dream of making the perfect chatbot. The best thing about chatbot in a service industry is that the actions will be performed in a much faster and efficient manner.

All the companies are looking for ways through which they can enhance their customer experience and what is the better way to do so than using chatbots. A lot of companies are now looking to invest in augmented reality as that will be the next best thing.  People have also made sure to invest in artificial intelligence which will ease their work a lot.

According to investors, the Ada has received a huge amount of fund in their series A investment and it is expected that they will be able to provide a high return on their investment. This company is working really hard to build a good team so that they are able to work in a much more efficient manner.

Also Read: Larry Ellison stated that no one will ever be able to shift from Oracle database to Amazon

They are also hiring non-technical people to build and manage a team in their company. The plan of Ada is to grow the startup into a business with the help of their first investment. Ada is now trying to build a fully automated customer service experience which is also known as ACX. The whole thing will be powered by Artificial intelligence.

The main aim of Ada now is to work on their current products and bring them into the market as soon as possible. This Toronto based startup was launched in the year 2016 and in the next couple of months, they will end up doubling up their workforce. The company has 70 employees right now and by next year they will be trying to get to a total of 140 employees. 2018 was a big year for them because they were successfully able to get an investment of $19 million.

Larry Ellison stated that no one will ever be able to shift from Oracle database to Amazon

Amazon has finally decided that they will be turning down the Oracle data warehouse because they have their own Amazon Web Services database technology with them. The CTO and co-founder of Oracle, Larry Ellison has come out and said that no one with their right frame of mind will ever try to move from Oracle to Amazon.

According to the CTO of Oracle, they have a huge technology leadership over the database of Amazon and this is why there is absolutely no way anyone would prefer to use Amazon database over Oracle. Ellison said in a conference call that the technology of the Oracle database is much more refined than Amazon database after the Oracle second quarter financial results were out.

The technology of Amazon database is much older compared to Oracle, therefore, no other company will ever try to move from Oracle and go to Amazon and struggle with their database. The CTO of Amazon Web Services Werner Vogels came out in a conference and said why they will try to work with the Amazon database and not with the Oracle database.

After the conference, the remark of the CTO of Amazon got under the skin of the CTO of Oracle who comes out and said that Amazon database was very backdated and useless. According to Ellison, Oracle now holds about 50 percent of the market database and they will be expanding it in the coming years.

According to the CTO of Oracle, the database which has been designed by Oracle is very complicated in nature and has a tone of security which makes it expensive and hard to use. Everybody is looking to move from Amazon database to Oracle database, but none of them are looking to move from Oracle database to Amazon database.

Oracle is currently running about 1,000 autonomous databases, which are all available on trial, activation per month to drive the infrastructure in a much easier manner.

According to Ellison the CTO and co-founder of Oracle, they are now working hard to migrate their market share to the cloud and focus specifically on expanding cloud ERP. In the quarter 3 ERP and Net Suit ERP, which are basically the two cloud ERP businesses are showing a combined growth of about 32 percent.

There are about 6,000 customers of fusion ERP and about 16,000 customers of NetSuite ERP. Oracle has been a clear leader in cloud ERP for quite a long period of time. ERP is a very important segment of business and enterprise application. Oracle has been working really hard to stay on top and keep its technology up to date and it is showing in the third quarter financial numbers.

It can now be said that no other company will ever want to shift from Oracle database to Amazon database because of the primitive technology Amazon uses in their database.