Microsoft has rolled out a suite of new features to help its Teams software compete with workplace communication competitors Slack and Zoom.
Video conferencing tools have surged since the COVID-19 pandemic began. As companies shifted to all-remote setups, in order to avoid in-office interaction, they began to employ tools like Teams to maintain face-to-face communication.
"We believe that the future of work is being shaped right now," Jared Spataro, a corporate vice president of Microsoft 365, told Cheddar on Thursday.
Courtesy of Microsoft
Spataro says that while some of the new Teams features incorporate emojis and Microsoft's AI voice assistant Cortana, the headline add-on is "Together Mode." It gives users the ability to hold meetings in virtual rooms — that actually look like rooms
"It essentially takes AI technology and allows you to cut out people who are in a meeting and put them into the same background," Spataro said. "Our research shows us that even though that sounds very simple, it actually makes a really big difference when it comes to meeting fatigue."
While the only available setting now is a simple auditorium, Spataro says Microsoft is working on building different environments like conference rooms and even a 'virtual cafe.'
U.S. markets opened sharply lower on Friday on hotter-than-expected inflation data. The May CPI showed an 8.6% jump in consumer prices year-over-year, higher the expected 8.3%. Mark Howard, Senior Multi-Asset Specialist at BNP Paribas joined Cheddar's Opening Bell to discuss.
U.S. stocks closed Friday at session lows after May CPI data showed inflation in the U.S. has not peaked and is still rising rapidly. For the week, the S&P fell 5.06%, the Dow lost 4.58%, and the Nasdaq dropped 5.60%, marking the worst week since January for all three major indexes. Mike Zigmont, Head of Trading and Research at Harvest Volatility Management, joins Cheddar News' Closing Bell to discuss.
Benefits brokerage, Nava Benefits, raised $40 million in a Series B round. Nava says it's on a mission to fix healthcare, one benefits plan at a time. The startup is working to bring benefits to small business that are normally available to only Fortune 500 companies. Brandon Weber, Co-Founder and CEO of Nava Benefits, joined Cheddar News' Closing Bell to discuss.
The electric vehicle maker filed a proposal for a three-for-one stock split, increasing the accessibility of shares for investors for a stock trading at around $700 a share. The move comes not long after tech giant Amazon announced a 20-for-one split. The number of authorized shares rises from two billion to six billion. It was also revealed that board member Larry Ellison does not intend to stand for reelection as it pertains to Tesla.
President Biden proposed a new rule that would add 500,000 chargers for electric vehicles nationwide. The proposal comes amid the rapid shift to EVs with dozens of automakers announcing plans for all-electric fleets within the next decade. But with the new surge will the U.S. have the proper infrastructure to keep up? Scott Painter, founder and CEO of Autonomy.com joined Cheddar's Opening Bell to discuss. "I really think the idea of standardization is a big deal. Standardization certainly makes it much better for everybody to be able to get a charge when they need one," he said.
