Good Morning Trailblazers,
Finally some good news from Bank of Canada on interest rates. Read below to see how it affects your mortgage and savings. Also, now you can build apps with Wix just by talking in plain English.

IN TODAY’S ISSUE:

• Bank of Canada drops interest rate to 4.75%.

• Nvidia beats Apple reaches $3.01 trillion.

• Apple partners with OpenAI to catch up in AI.

• AI-powered app building with Wix.

• 5 tools to boost your productivity.

Let’s get into it.

CANADA

📉 Bank of Canada drops interest rate to 4.75%

Some good news from Bank of Canada since March 2020, BoF has lowered its key interest rate by 25 basis points to 4.75%.

Key numbers to know:

• Governor Tiff Macklem highlighted the improved inflation outlook, closer to the 2% target.

• April's inflation rate was 2.7%, with core measures easing.

• The economy grew by only 1.7% in the first quarter, prompting the cut.

• Major banks followed by reducing their prime lending rates to 6.95%.

How will impact mortgages, loans and investments?

• Prime Rates: Banks might lower their prime rates, reducing borrowing costs for consumers, though the response can be inconsistent.

• Mortgages: Variable-rate mortgage holders will see immediate savings. Fixed-rate mortgage payments remain unchanged until renewal.

• Savings: A quarter-point cut saves $88/month on a $600,000 mortgage at 6%. Further cuts could save up to $349/month.

GLOBAL

📈 Nvidia beats Apple reaches $3.01 trillion

The AI boom has skyrocketed Nvidia's market cap to $3.01 trillion, making it the second most valuable company globally, just behind Microsoft.

The details:

• Nvidia's market cap growth has been fueled by its H100 chip and the booming AI sector.

• The company's stock price reached over $1,220 per share, with plans for a stock split.

• Nvidia reported a $14 billion profit in May, with plans for new AI chips annually.

• Analysts expect Nvidia's net income to rise to $65 billion this fiscal year.

🤝 Apple partners with OpenAI to catch up in AI

Apple has partnered with Sam Altman's OpenAI to integrate ChatGPT into its iPhone OS, as the tech giant strives to catch up in the AI race.

Apple will leverage OpenAI’s ChatGPT to enhance its AI capabilities, offering millions of users access to advanced chatbot technology.

Siri will receive significant AI upgrades, while new AI features will enhance voice memos, photo editing, and search capabilities.

ENTERTAINMENT

🎮️ Netflix TV shows gamified

Play as a character in your favourite reality TV show.

Netflix is expanding its game offerings, with a focus on interactive fiction games inspired by popular reality TV shows.

Some popular games would include: Selling Sunset, The Ultimatum, and Too Hot to Handle.

AI

📱 AI-powered app building with Wix

Wix is expanding its AI capabilities with a new feature that enables users to create and edit iOS and Android apps by describing their desired outcomes in plain English.

About the feature:

• The new tool uses a chatbot-like interface to gather user requirements and generate customizable app code native to iOS and Android.

• Users can control branding, layout, and features, preview the app, and add integrations and widgets.

• It requires a $99-per-month subscription to Wix’s premium Branded App plan.

Why is this important?

This AI-powered app builder simplifies app creation for businesses, potentially reducing the need for professional developers and making it easier for non-tech users to launch mobile apps quickly.

🎯 ClickUp challenges Notion

ClickUp has launched its AI-based "ClickUp Knowledge Management" system. The new system pulls data from Google Drive, Dropbox, Confluence, Figma, and more, creating a central repository for knowledge management. The system can also automatically assign tasks, populate data, identify duplicates and includes a chatbot.

📊 Google Sheets Introduces Conditional Notifications

Google Sheets now offers conditional notifications, allowing users to receive email alerts when specific cells in a spreadsheet are updated. Users can set rules to get notified about changes to specific cells, like updates in a project tracker or changes in forecast analysis.

PRODUCTIVITY

5 Tools to Boost Your Productivity

1. 📸 Photo AI: Create beautiful AI photos without using a camera.

2. 🧠 AI-suggests: Generate tons of ready-to-use content and new ideas for your business instantly.

3. 🔥 PromptPal: Share & discover the best AI prompts.

4. 💼 Meet Cody: An AI assistant for business.

5. 🎤 Castmagic: Turn long-form audio into ready-to-use content assets, instantly.

FEEDBACK

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