The U.S. housing market is facing significant challenges, primarily driven by a shortage of homes rather than just volatile mortgage rates, according to Zillow CEO Jeremy Wacksman. The market is short by an estimated 4.5 million homes, with regulatory barriers and local development challenges further hindering supply, The Wall Street Journal reports.
The affordability crisis stems from a lack of available homes, a situation worsened by years of underdevelopment following the Great Recession and a pandemic-era buying spree that inflated prices. While high mortgage rates have discouraged homeowners from selling, Zillow’s economists predict a slight increase in home sales and modest price appreciation in 2025. However, even if interest rates decrease, limited housing supply could drive prices higher, offsetting any affordability gains. More significant rate cuts would be needed to significantly stimulate the mortgage market.
Zillow’s CEO recently revealed what he believes is the biggest challenge facing homebuyers in today’s market. In a recent interview, he highlighted the issue of affordability as the primary concern for many potential buyers.
With home prices on the rise and inventory levels low, many buyers are finding it increasingly difficult to find a home within their budget. The CEO emphasized the importance of finding ways to make housing more affordable for all individuals, regardless of their income level.
In addition, he also noted the impact of rising interest rates on the housing market, stating that higher mortgage rates could further exacerbate the affordability issue for buyers.
Overall, the CEO’s insights shed light on the challenges facing homebuyers in today’s market and the need for innovative solutions to make homeownership more accessible for all individuals.
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Zillow CEO, homebuyers, real estate market, housing market, home buying challenges, Zillow news, housing trends, property market, homebuyer struggles, real estate insights
Sony Interactive Entertainment has appointed Hideaki Nishino as president and CEO, effective April 1, 2025, the company announced. Nishino was previously appointed Platform Business Group CEO alongside Studio Business Group CEO Hermen Hulst on June 1, 2024. Hulst will continue to serve as CEO of the Studio Business Group and report to Nishino.
“I am truly honored to take the helm at Sony Interactive Entertainment,” Nishino said in a press release. “Technology and creativity are two of our biggest strengths as we continue to focus on developing experiences that deliver entertainment for everyone. We will continue to grow the PlayStation community in new ways, such as [intellectual property] expansion, while also delivering the best in technology innovation. I want to thank Hermen for his expertise and leadership as he continues his role as CEO, Studio Business Group. I am deeply grateful for the PlayStation community and their continued support and I am very excited for what the future holds.”
Nishino will also continue to serve as CEO of the Platform Business Group, while Hulst will continue to lead the development, publishing, and business operations of Sony Interactive Entertainment’s first-party content.
Sony Group Corporation and Sony Interactive Entertainment also announced that Sony Group Corporation president, chief operating officer, and chief financial officer Hiroki Totoki will step down from his position as Sony Interactive Entertainment chairman to become president and CEO of Sony Group Corporation, succeeding current president and CEO Kenichiro Yoshida, who will become director, representative corporate executive officer, and chairman.
Lin Tao, who is currently serving as senior vice president of finance and corporate development and strategy for Sony Interactive Entertainment, will step down from her position to become chief financial officer of Sony Group Corporation. Tao’s successor at Sony Interactive Entertainment will be announced at a later time.
“It has been a pleasure working more closely with Hermen and Nishino and gaining insight into the ever-changing, fast-paced world of Sony Interactive Entertainment,” said Totoki. “As we hand the baton to Nishino and this exceptional leadership team, I am confident that [Sony Interactive Entertainment] will reach new heights in the days ahead. After 30 years of delivering exceptional entertainment worldwide, this marks an exciting new chapter for [Sony Interactive Entertainment], highlighting its commitment to fostering creativity and building meaningful connections for millions of players. I am delighted to welcome Lin as my successor as [chief financial officer] of Sony Group Corporation. Lin has been instrumental to our success at [Sony Interactive Entertainment], leading the Finance, Corporate Development and Strategy functions, and I look forward to working closely with her at Sony Group Corporation.”
Kenichiro Yoshida added, “To ensure that my succession contributes to Sony’s future long-term growth, I have been in discussion with the Nominating Committee and the Board of Directors for some time. Based on Hiroki Totoki’s contributions to Sony, including his achievements since being appointed as President and COO in April 2023, I proposed to them that he succeed me as CEO this April. I am grateful to the Nominating Committee and the Board for their support of this proposal. Totoki has been a key member of the management team ever since I became President and CEO in April 2018. He spearheaded growth strategies for the Sony Group, such as our investments in content IP and semiconductors, and is a leader capable of shaping our vision and strategy for future growth. Going forward, I will support Totoki as he leads his new management team.”
Here is the Sony Group Corporation management structure as of April 1, 2025:
Main Leadership
Kenichiro Yoshida
Chairman
Representative Corporate Executive Officer
Hiroki Totoki
President and CEO
Representative Corporate Executive Officer
Business CEOs
Rob Stringer
Officer in charge of Music Business (Global)
Chairman, Sony Music Group
CEO, Sony Music Entertainment
Shunsuke Muramatsu
Officer in charge of Music Business (Japan)
President and Representative Director of the Board, CEO, Sony Music Entertainment (Japan) Inc.
Jon Platt
Officer in charge of Music Publishing (Global)
Chairman and CEO, Sony Music Publishing
Kimio Maki
Officer in charge of Entertainment, Technology & Services Business
Representative Director, President and CEO, Sony Corporation
Toshihide Endo
Director, President & CEO, Representative Corporate Executive Officer, Sony Financial Group Inc.
Ravi Ahuja
Officer in charge of Pictures Business
President and CEO, Sony Pictures Entertainment Inc.
Shinji Sashida (Newly appointed)
Officer in charge of Imaging & Sensing Solutions Business
Representative Director, President and CEO, Sony Semiconductor Solutions Corporation
Hideaki Nishino (Newly appointed)
Officer in charge of Game & Network Services Business
CEO, Studio Business Group, Sony Interactive Entertainment
Chief Officers
Toshimoto Mitomo
Chief Strategy Officer (CSO)
Representative Corporate Executive Officer
Officer in charge of Legal, Compliance, Privacy, Intellectual Property, Business Strategy, Sustainability, External Relations, Business Incubation Platform, Creative Platform and Mobility Business
Tsuyoshi Kodera
Chief Digital Officer (CDO)
Corporate Executive Officer
Officer in charge of Digital & Technology Platform (Digital Transformation Strategy, Information Systems, Information Security and Advanced Technology), R&D, Technology Strategy and Quality Management
Yasuhiro Ito
Chief People Officer (CPO)
Corporate Executive Officer
Officer in charge of Human Resources, General Affairs, the Corporate Executive Office and Lead of Group Diversity, Equity & Inclusion
Lin Tao (Newly appointed)
Chief Financial Officer (CFO)
Corporate Executive Officer
Officer in charge of Corporate Planning and Control, Corporate Strategy, Accounting, Tax, Finance, IR, Disclosure Controls, Risk Control, Internal Audit and SOX 404
Chief Technology Fellow
Hiroaki Kitano (Newly appointed)
Corporate Executives
Karen L. Halby
Senior Vice President
President, Sony Corporation of America
Hirotoshi Korenaga
Senior Vice President
In charge of Accounting
Sadahiko Hayakawa
Senior Vice President
In charge of Finance and IR
Naoya Horii
Senior Vice President
In charge of Corporate Planning and Control, Disc Manufacturing Business and Storage Media Business
Kaori Takezawa
Senior Vice President
In charge of Legal, Compliance, Privacy and External Relations
Robert Lawson
Senior Vice President
In charge of Corporate Communications
Yoshinori Matsumoto
Senior Vice President
In charge of Technology Strategy, Quality Management, Business Incubation Platform (Engineering) and Digital & Technology Platform (Advanced Technology) Executive Deputy President, Sony Corporation
Kazuo Kii (Newly appointed)
Senior Vice President
Sony Group China Representative
Executive Deputy President, Sony Corporation
Sony Interactive Entertainment (SIE) has announced the appointment of Hideaki Nishino as the new president and CEO of the company. Nishino, who previously served as the Senior Vice President of Platform Planning and Management at SIE, brings a wealth of experience and expertise to his new role.
In his previous position, Nishino played a key role in the development and launch of the highly successful PlayStation 5 console, as well as various other hardware and software projects. His strong leadership skills and strategic vision make him the perfect candidate to lead SIE into the future.
Nishino’s appointment comes at a crucial time for SIE, as the company continues to innovate and expand its gaming offerings. With his deep understanding of the gaming industry and passion for delivering top-quality experiences to players, Nishino is poised to drive SIE to new heights of success.
We congratulate Hideaki Nishino on his new role as president and CEO of Sony Interactive Entertainment, and we look forward to seeing the exciting developments that he will bring to the gaming world.
Sony Corp. is shaking up its leadership ranks in Tokyo and San Mateo, elevating Hiroki Totoki to the top CEO post while Hideaki Nishino takes the reins of Sony Interactive Entertainment as the solo CEO of the unit that houses PlayStation.
The corporate shuffle, effective April 1, was approved late Tuesday by the electronics and entertainment giant’s board of directors in Tokyo. Totoki, a 38-year Sony veteran who most recently served as chief operating officer and chief financial officer, will succeed Kenichiro Yoshida as leader of the company that is a cornerstone of the business landscape in Japan.
Totoki will serve as president and CEO of Sony Corp. The handoff from Yoshida to Totoki also comes with a restructuring of the senior business ranks. Sony Pictures Entertainment, the company’s Hollywood outpost, saw a leadership transition earlier this month when Ravi Ahuja took over CEO duties from Tony Vinciquerra.
Sony Corp. has about 110,000 employees and is a powerhouse in manufacturing cameras and imaging devices and as well as TV sets, PlayStation devices and movies and TV shows through the Culver City-based Sony Pictures Entertainment.
“I am incredibly honored and humbled to have been entrusted with the important role of President and CEO,” Totoki said. “My predecessors as CEO, Kazuo Hirai and Kenichiro Yoshida, have greatly enhanced Sony’s value, and I will do my utmost to further build on this success and pass on an even better Sony to the next generation. At our Corporate Strategy Meeting in May of last year, we newly announced our `Creative Entertainment Vision,’ which outlines where we want Sony to be in 10 years, with our Purpose as the guiding principle. Our greatest driver in achieving this is the diversity of our businesses and people, which is part of Sony’s DNA, and our boundary spanners that transcend organizational barriers and organically connect that diversity to create new value. Together with our employees, creators, partners, and our new leadership team, I will work to create a bright future filled with a boundless sense of Kando (emotion).”
Nishino was elevated to CEO of Sony Interactive’s Platform Business Group in May 2024. He shared oversight of the PlayStation maker with Herman Hulst, who was CEO of the division’s studio business group. Those appointments were made in the wake of the departure of CEO Jim Ryan. The elevation of Nishino to the top post overseeing all of SIE caught industry observers by surprise.
“I am truly honored to take the helm at Sony Interactive Entertainment. Technology and creativity are two of our biggest strengths as we continue to focus on developing experiences that deliver entertainment for everyone. We will continue to grow the PlayStation community in new ways, such as IP expansion, while also delivering the best in technology innovation,” Nishino said. “I want to thank Herman for his expertise and leadership as he continues his role as CEO, Studio Business Group. I am deeply grateful for the PlayStation community and their continued support and I am very excited for what the future holds,” said Hideaki Nishino, CEO, Platform Business Group.
Nishino will serve as president and CEO of Sony Interactive Entertainment in addition to serving as CEO of the Platform Business Group and CEO of the Studio Business Group. Sony said that Hulst will continue to “lead the development, publishing and business operations of SIE’s first party-content.” He will also be tasked with driving Sony’s push for SIE to work with Sony Pictures in developing adaptations of its gaming franchises as TV shows, movies and other mediums through PlayStation Productions.
Lin Tao, newly appointed chief financial officer for Sony Corp.
Other changes unveiled by Sony include the appointment of Lin Tao as the first female CFO in the company’s 80-plus year history. Shinji Sashida was named head of the Imaging and Sensing Solutions division, a key growth area in hardware for the company. Tao is a 20-year Sony veteran who was previously senior VP of finance, corporate strategy and development for Sony Interactive Entertainment.
Yoshida has been at the top of Sony since 2018. During his tenure, he streamlined the company’s operations and furthered its focus on high-margin hardware — such as cameras and video tools — and galvanized the company to put its energy into activities revolving around creativity and entertainment, meaning that its traditional core business of hardware was the foundation but not the focus. Yoshida also upped Sony’s investment in content and entertainment assets, starting one month into his tenure when he expanded Sony Music with the acquisition of EMI for more than $3.5 billion.
In his public remarks, Yoshida frequently expressed that the company had honed its mission and purpose to “fill the world with emotion, through the power of creativity and technology.” Yoshida has been with Sony since 1983. Yoshida emphasized that Tuesday’s announcement had been in the works and that it was his decision to hand the baton to Totoki.
“Based on Hiroki Totoki’s contributions to Sony, including his achievements since being appointed as President and COO in April 2023, I proposed to them that he succeed me as CEO this April,” Yoshida said. “I am grateful to the Nominating Committee and the Board for their support of this proposal. Totoki has been a key member of the management team ever since I became President and CEO in April 2018. He spearheaded growth strategies for the Sony Group, such as our investments in content IP and semiconductors, and is a leader capable of shaping our vision and strategy for future growth. Going forward, I will support Totoki as he leads his new management team.”
(Pictured top: Hiroki Totoki and Hideaki Nishino)
I am thrilled to announce that Hiroki Totoki has been named the new Corporate CEO of our company! With his extensive experience and proven track record in the industry, I have no doubt that he will lead our company to new heights of success. Join me in congratulating Hiroki Totoki on his well-deserved appointment as our new Corporate CEO. Here’s to a bright future ahead under his leadership! #CEO #Leadership #Success
Starbucks (SBUX) is striving to brew up a comeback.
The Seattle-based coffee giant posted its first quarter fiscal year 2025 results on Tuesday after market close, which showed declines across the board but beat Wall Street’s expectations.
This was the first full quarter under CEO Brian Niccol, who took the helm on Sept. 9.
“While we’re only one quarter into our turnaround, we’re moving quickly to act on the ‘Back to Starbucks’ efforts and we’ve seen a positive response,” Niccol said in the release.
Revenue was flat year-over-year at $9.4 billion, versus estimates of $9.32 billion. Earnings per share of $0.69 was a 23% drop compared to the same quarter a year ago, but higher than the $0.66 expected. The company alluded to “heightened investments” for Niccol’s turnaround plan as part of the reason for the earnings decline.
“We believe this is the fundamental change in strategy needed to solve our underlying issues, restore confidence in our brand and return the business to sustainable, long-term growth,” said Niccol in the release. His “Back to Starbucks” plan calls for a focus on core coffee products, better pricing, and faster service.
Global same-store sales and foot traffic declined 4% and 6%, the fourth straight quarter of such decline. The average ticket size grew 3%.
North America and US same-store sales fell 4% year over year, while foot traffic dropped 8%, partially offset by a 4% jump in average ticket.
As part of Niccol’s effort to improve Starbucks’ value proposition, it got rid of extra charges for nondairy milks, and paused price increases.
Operating margin contracted by 390 basis points in the quarter, partially driven by “deleverage and investments” in Niccol’s strategy and in store wages, benefits, and hours.
In the past year, Starbucks stock has gained 5%, far lagging the S&P 500’s (^GSPC) 24% rise. But the shares have risen 32% in the past six months after Niccol was announced as the new CEO in August.
Here’s results for the first quarter of fiscal 2025, compared to what Wall Street expected, per Bloomberg consensus estimates:
Same-store sales: -4% versus -5.30%
Foot traffic: -6% versus -7.28%
Ticket Growth: 3.0% versus 1.87%
“We’re still [in the] very, very early… innings of this turnaround story,” BTIG analyst Peter Saleh told Yahoo Finance. “You’re going to start to see more momentum… as we get into the back end of this year and then into fiscal 2026” when it comes to same-store sales growth, margins, and earnings.
In the quarter, the company opened 113 stores in North America and 264 stores internationally.
Analysts are also focused on the ongoing saga at its Chinese business. US and China make up 61% of the company’s portfolio, with 17,049 and 7,685 stores in the two countries, respectively. Starbucks has struggled with sales in China amid a stagnant domestic economy and fierce local competition.
Earlier this month, chairwoman of Starbucks China, Belinda Wong, retired. Her replacement has not yet been announced.
A person leaves a Starbucks in New York City on January 14, 2025. (ANGELA WEISS/AFP via Getty Images) ·ANGELA WEISS via Getty Images
The company has been undergoing a number of changes. Earlier this month, Starbucks announced the implementation of a Coffeehouse Code of Conduct, where only paying customers can sit in-store and use the restroom. It also said corporate layoffs to “operate more efficiently” will be announced by early March.
Starbucks has exceeded low earnings expectations for its first quarter under the leadership of new CEO, Kevin Johnson. The coffee giant reported strong profits and revenue growth, surpassing analysts’ predictions.
The company’s net income for the quarter was $886.3 million, up from $752.1 million in the same period last year. Revenue also saw a significant increase, reaching $6.67 billion compared to $6.07 billion in the previous year.
Starbucks has been focusing on expanding its digital offerings and driving customer loyalty through its rewards program, which has contributed to its success in the first quarter. Johnson’s strategic initiatives seem to be paying off, as the company continues to attract new customers and drive sales growth.
Investors are optimistic about Starbucks’ future under Johnson’s leadership, as the company remains a dominant player in the coffee industry. With a strong start to the year, Starbucks is poised for continued success in the coming quarters.
Starbucks (SBUX) is set to release its fiscal first quarter earnings report after markets close on Tuesday. The report holds particular significance, as it marks the first earnings announcement under new CEO Brian Niccol, the former chief executive of Chipotle (CMG), who took the helm at the coffee giant in September 2024.
Yahoo Finance Reporter Brooke DiPalma examines what investors anticipate from the earnings report, with special attention on how Niccol’s turnaround strategy for the company may be taking shape.
To watch more expert insights and analysis on the latest market action, check out more Catalystshere.
As Starbucks prepares to announce its Q1 financial results, all eyes are on the new CEO Brian Niccol and his potential impact on the company’s performance. With Niccol’s successful track record at Taco Bell and Chipotle, many are hopeful that he will bring fresh ideas and strategies to drive growth at Starbucks.
Niccol’s expertise in the fast-food industry could prove to be invaluable as Starbucks looks to navigate through the challenges brought on by the ongoing pandemic. His focus on digital innovation and customer experience could help the company adapt to the changing consumer behavior and preferences.
Investors are eagerly awaiting to see if Niccol’s leadership will translate into improved financial results for Starbucks in Q1. With the company facing stiff competition and shifting market dynamics, Niccol’s leadership could be the key to driving growth and profitability.
Stay tuned for Starbucks’s Q1 earnings report to see if Niccol’s appointment as CEO will make a positive impact on the company’s performance.
During a January 23 CNBC interview, Alexandr Wang, the CEO of Scale AI, said that DeepSeek has approximately 50,000 H100 Nvidia (NVDA) chips. However, due to U.S. export controls, DeepSeek cannot publicly discuss this information. Wang also stated that although DeepSeek may have more chips than expected, it will still face limitations due to chip controls and export restrictions. Elon Musk, the CEO of EV maker Tesla (TSLA), seemed to agree with Wang’s assessment after he responded with “Obviously” to a post sharing Wang’s interview.
Shares of Nvidia plunged in today’s trading after DeepSeek revealed that its AI model is able to outperform the best models from U.S. companies at only a fraction of the cost. However, if the firm is not disclosing how many chips it actually has, then the cost of its AI model might actually be much higher than the stated $5.7 million.
Turning to Wall Street, analysts remain bullish on NVDA stock, with a Strong Buy consensus rating based on 36 Buys and three Holds assigned in the past three months. After a 90% rally in its share price over the past year, the average NVDA price target of $177.56 per share implies an upside potential of 49.8% from current levels.
Elon Musk, CEO of Tesla and SpaceX, and Alexandr Wang, CEO of Scale AI, recently hinted that their joint venture, DeepSeek, may have more NVIDIA chips than initially anticipated.
In a recent tweet, Musk mentioned that the DeepSeek team was “pleasantly surprised” by the number of NVIDIA chips they were able to secure for their project. Wang also chimed in, noting that the increased chip count would allow DeepSeek to push the boundaries of AI and machine learning even further.
The news has sparked excitement among tech enthusiasts, as NVIDIA’s chips are known for their high performance and efficiency in powering AI applications. With more chips at their disposal, DeepSeek could potentially accelerate the development of groundbreaking technologies in various industries, from autonomous vehicles to robotics.
Stay tuned for more updates on DeepSeek’s progress and the impact of the increased NVIDIA chip count on their projects. The future of AI is looking brighter than ever!
Alexandr Wang, CEO of Scale AI, stated on Thursday in a CNBC interview that China’s rapid advancements in artificial intelligence are significantly supported by its substantial holdings of Nvidia’s (NVDA, Financials) Nvidia H100 GPUs, intensifying the competition with the United States.
Speaking at the World Economic Forum in Davos, Switzerland, Wang underlined that DeepSeek, a top Chinese AI lab, published a novel model on Christmas Day and then DeepSeek-R1, a reasoning-oriented AI model directly rival to OpenAI’s newly published o1 model.
Emphasizing that China has a somewhat bigger number of Nvidia H100 GPUs, which are essential for constructing sophisticated AI models, Wang defined the U.S.-China competition in artificial intelligence as an “AI war”. He noted that China has had strong access to these potent artificial intelligence processors in spite of U.S. export restrictions, therefore allowing notable advancement in its AI industry. Thanks to this access, Chinese artificial intelligence models have been able to reach performance standards either on par with or above the top American models, claims Wang.
Moreover, Wang anticipated that, in line with expectations for the generative AI market, the AI sector would value $1 trillion during the next decade. He also voiced his conviction that two to four yearsa period of time still hotly contested among AI professionalsare enough to reach artificial general intelligence.
Wang underlined the need of the United States expanding its computing capability and infrastructure if it is to maintain its leadership on the global scene. Emphasizing the need of major investment and development to sustain ongoing growth and innovation in the American AI industry, he said, “We need to unleash U.S. energy to enable this AI boom.”
Scale AI CEO Warns China’s AI Advancements Bolstered by Nvidia GPUs
In a recent interview, the CEO of Scale AI, Alex Wang, issued a warning about China’s rapid advancements in artificial intelligence, fueled in large part by the use of Nvidia GPUs. Wang pointed out that China has been investing heavily in AI research and development, and that Nvidia’s powerful GPUs have played a crucial role in accelerating the country’s progress in this field.
According to Wang, China’s use of Nvidia GPUs has allowed researchers and developers to train AI models at a much faster pace, giving them a significant advantage over their competitors in other countries. This, combined with China’s large pool of talented engineers and vast amounts of data, has helped the country establish itself as a leader in AI technology.
However, Wang also expressed concerns about the potential risks associated with China’s rapid AI advancements. He warned that the country’s growing expertise in AI could pose a threat to global security and stability, especially if these technologies are used for malicious purposes.
In light of these developments, Wang called for increased collaboration and transparency in the AI industry to ensure that these powerful technologies are used responsibly and ethically. He emphasized the need for greater oversight and regulation to prevent the misuse of AI tools and protect against potential risks.
As China continues to make strides in AI technology, it is clear that the country’s use of Nvidia GPUs is playing a key role in driving these advancements. However, it is also important for the international community to remain vigilant and proactive in addressing the potential risks associated with China’s growing expertise in AI.
“The war for AI is gonna be an asymmetric war between the US and China and anybody else who gets involved. And the things that make us strong are not the same that’s gonna make China strong,” he tells Yahoo Finance, emphasizing that the US should pursue its own path rather than trying to “match” China’s approach.
Calkins advocates for establishing a “national regulatory framework” that safeguards privacy, copyright, and individual rights for Americans. He argues this would position the US for success in the AI space. He believes such a framework must first identify what data is being used while understanding the true sources of AI’s value.
“This DeepSeek announcement is a wake-up call. Everybody thought they knew where the value came from,” the Appian chief executive states, adding, “And I would expect a bunch more surprises to come,” comparing DeepSeek’s market entry to OpenAI’s impact on the industry.
To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here.
DeepSeek’s AI launch is a ‘wake-up call,’ Appian CEO says
The recent launch of DeepSeek’s AI technology has sent shockwaves through the industry, prompting Appian CEO Matt Calkins to label it as a ‘wake-up call’ for businesses everywhere.
In a statement released today, Calkins expressed his belief that DeepSeek’s AI capabilities have the potential to revolutionize the way companies approach their operations. He emphasized the need for organizations to embrace AI technology in order to stay ahead of the competition and adapt to the rapidly changing business landscape.
Calkins also highlighted the importance of investing in cutting-edge AI solutions, stating that companies that fail to do so risk falling behind and losing their competitive edge.
DeepSeek’s AI launch has certainly caught the attention of industry leaders like Calkins, who see it as a game-changer that will shape the future of business. As more companies begin to explore the possibilities of AI technology, it’s clear that the time to embrace this new era of innovation is now.
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DeepSeek AI, Appian CEO, wake-up call, artificial intelligence, technology, innovation, machine learning, digital transformation, future of AI, DeepSeek technology, Appian news, tech industry, AI launch, Appian CEO perspective
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UnitedHealth Group says the impact from the cyberattack last year at its Change Healthcare subsidiary is much wider than previously understood, affecting roughly 190 million patients — up from previous estimates of about 100 million people.
With the U.S. population standing at about 341 million people, the breach is now thought to affect about 1 in 2 Americans.
Even before Friday, the incident was by far the largest breach currently showing on the federal website, which doesn’t show a 2015 breach at health insurer Anthem Inc. that affected data for about 79 million patients.
“Change Healthcare has determined the estimated total number of individuals impacted by the Change Healthcare cyberattack is approximately 190 million,“ UnitedHealth Group said in a statement issued Friday afternoon. ”The vast majority of those people have already been provided individual or substitute notice.”
The company added that it “is not aware of any misuse of individuals’ information as a result of this incident and has not seen electronic medical record databases appear in the data during the analysis.”
Eden Prairie-based UnitedHealth Group owns UnitedHealthcare, the nation’s largest health insurer, and a fast-growing division for health services called Optum, which acquired Change Healthcare for $13 billion in 2022.
Change Healthcare was involved in processing a large share of all health care claims and payments in the U.S. — roughly 15 billion health care transactions annually before the hack, affecting 1 in 3 patient records, according to federal officials.
In a shocking revelation earlier this year, UnitedHealth CEO Andrew Witty disclosed to Congress that a breach had impacted approximately 100 million Americans. This breach not only raised concerns about the security of sensitive personal information but also highlighted the urgent need for stronger data protection measures. Stay tuned for updates on this developing story. #UnitedHealth #DataBreach #AndrewWitty #Congress #SecurityConcerns
