The Limited Advantages of GPT-5 Indicate a Slowdown in AI Advancement

GPT-5 is the latest version of OpenAI’s flagship language model

Cheng Xin/Getty Images

OpenAI has recently unveiled GPT-5, their latest AI model, marking another step in AI evolution rather than a dramatic breakthrough. Following the successful rollout of GPT-4, which significantly advanced ChatGPT’s capabilities and influence, the improvements found in GPT-5 seem marginal, indicating that innovative strategies may be needed to achieve further advancements in artificial intelligence.

OpenAI has described GPT-5 as a notable advancement over its predecessor, boasting enhancements in areas such as programming, mathematics, writing, healthcare, and visual comprehension. The company claims a reduction in the incidence of “hallucinations,” instances where AI generates incorrect information as factual. According to their internal metrics, GPT-5 claims to excel in complex and economically significant tasks across various professions, asserting it matches or exceeds expert-level performance.

Notably, however, GPT-5’s results on public benchmarks are less competitive when compared with leading models from other companies, such as Anthropic’s Claude and Google’s Gemini. Although it has improved from GPT-4, the enhancements are subtler than the leap observed between GPT-3 and GPT-4. Numerous users have expressed dissatisfaction with GPT-5’s performance, citing instances where it struggled with straightforward queries, leading to a chorus of disappointment on social media.

“Many were expecting a major breakthrough, but it seems more like an upgrade,” remarked Mirela Rapata from the University of Edinburgh. “There’s a sense of incremental progress.”

OpenAI has disclosed limited details regarding the internal benchmarks for GPT-5’s performance, making it challenging to assess them scientifically, according to Anna Rogers from the University of Copenhagen.

In a pre-release press briefing, Altman emphasized, “It feels like engaging with an expert on any topic, comparable to a PhD-level specialist.” Yet, Rogers pointed out that benchmarks do not substantiate such claims, and the correlation between advanced degrees and intelligence is questionable. “Highly intelligent individuals do not always hold PhDs, nor does a PhD guarantee superior intelligence,” she noted.

The modest advancements in GPT-5 may reflect broader challenges within the AI development community. Once believed to be an inexorable progression, the capabilities of large-scale language models (LLMs) seem to be plateauing, as recent results have not supported the prior assumptions that increased training data and computational power would lead to significant enhancements. As Lapata noted, “Now that everyone has adopted similar approaches, it’s evident that we’re following a predictable recipe, utilizing vast amounts of pre-training data and refining it during the post-training phase.”

However, whether LLMs are nearing a plateau remains uncertain, as technical design specifics about models like GPT-5 are not widely known, according to Nicos Aretra from the University of Sheffield. “It’s premature to claim that large-scale language models have reached their limits without concrete technical insights.”

OpenAI is also exploring alternative methods to enhance their offerings, such as the new routing system in GPT-5. Unlike previous versions where users could select from various models, GPT-5 intelligently assesses requests and directs them to the appropriate model based on the required computational power.

This strategy could potentially be more widely adopted, as Lapata mentions, “The reasoning model demands significant computation, which is both time-consuming and costly.” Yet, this shift has frustrated some ChatGPT users, prompting Altman to indicate that efforts are underway to enhance the routing process.

Another OpenAI model has recently achieved remarkable scores in elite mathematics and coding contests, hinting at a promising future for AI. This accomplishment was beyond the capabilities of leading AI models just a year ago. Although details on its functioning remain scarce, OpenAI staff have stated that this success implies the model possesses improved general reasoning skills.

These competitions allow us to evaluate models on data not encountered during training, according to Aletras, but they still represent a narrow aspect of intelligence. Enhanced performance in one domain may detrimentally affect results in others, warns Lapata.

GPT-5 has notably improved in pricing, as it is now significantly cheaper compared to other models—e.g., Claude models are approximately ten times more expensive when processing an equal volume of requests. However, this could lead to financial issues for OpenAI if revenue is insufficient to sustain the high costs of developing and operating new data centers. “Pricing is extraordinary. It’s so inexpensive; I’m uncertain how they can sustain it,” remarked Lapata.

Competition among leading AI models is intense. The first company to launch a superior model could secure a substantial market share. “All major companies are vying for dominance, which is a challenging endeavor,” noted Rapata. “You’ve only held the crown for three months.”

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Source: www.newscientist.com

The Limited Impact of the Tsunami on the U.S. Does Not Indicate an Inaccurate Forecast

The 8.8 magnitude earthquake off the coast of Russia’s Kamchatka Peninsula generated water waves traveling at jetliner speeds toward Hawaii, California, and Washington states on Wednesday.

Yet, when the tsunami reached the U.S., it appears not to have inflicted widespread devastation, with some areas where warnings were issued showing no signs of significant flooding.

This doesn’t mean the tsunami was a “bust” or poorly predicted, according to earthquake and tsunami researchers.

“When you hear ‘tsunami warning,’ people often think of dramatic scenes from movies, and when it arrives at just three feet, they might wonder, ‘What’s going on?’,” remarked Harold Tobin, director of the Pacific Northwest Earthquake Network and professor at the University of Washington. “We should view this as a success; we received a warning, but the situation wasn’t catastrophic.”

Here’s what you should know.

How intense was the Kamchatka earthquake? What caused the initial discrepancies?

Initially, the US Geological Survey assessed the Kamchatka earthquake at magnitude 8.0, which was later adjusted to 8.8.

“It’s not unusual for major earthquakes to see such adjustments in the first moments,” Tobin explained. “Our standard methods for calculating earthquake sizes can quickly saturate, akin to turning up the volume on a speaker until it distorts.

A buoy measuring the quake, located approximately 275 miles southeast of the Kamchatka Peninsula, gave the first signs of the earthquake, showing bigger waves than the initial report.

This buoy belongs to the National Oceanic and Atmospheric Administration’s DART (Deep Ocean Assessment and Reporting) system and is connected to a submarine pressure sensor roughly four miles deep.

That sensor detected waves measuring 90 centimeters (over 35 inches), which caught the attention of tsunami researchers.

Vasily Titov, a senior tsunami modeler at NOAA’s Pacific Ocean Environment Research Institute, noted:

Titov reflected on the 2011 Tohoku earthquake and tsunami, which tragically claimed nearly 16,000 lives in Japan.

Subsequent earthquake models confirmed the Wednesday earthquake’s magnitude as 8.8, as detailed by the USGS calculator.

In comparison, Tohoku was significantly larger.

Tobin estimated that the energy released during the Kamchatka quake was two to three times less than that in Japan, with the tsunami generated there being approximately three times as severe.

He further noted that the Tohoku event “created a notably large seafloor displacement.”

Tobin speculated that the Kamchatka quake likely had less seafloor displacement than what could occur in a worst-case 8.8 scenario, though more research is needed for substantiation.

Emergency services experts assess damage on Sakhalin Island in the Far East post-earthquake.Russia’s Ministry of Emergency via Getty Images / AFP

How did researchers generate predictions? How accurate were they?

Within two hours, researchers produced tsunami predictions for various “warning points” along both the Pacific and US coasts, forecasting tidal gauge and flood levels.

The tsunami took around eight hours to reach Hawaii and twelve hours to arrive at the California coast.

Titov, who assisted in developing the model used by predictors in the National Tsunami Warning Centers in Hawaii and Alaska, explained that the model relies on seismic data and a network of over 70 DART buoys along the Pacific edge. The U.S. operates more than half of these buoys.

Titov indicated that the model projected tsunami waves hitting Hawaii’s North Shore region at approximately two meters.

“Hawaii was predicted to have waves of about 2 meters [6.5 feet], and actual measurements were around 150 centimeters, or 1.5 meters (5 feet). That aligns perfectly with our expectations,” Titov stated.

A similar trend was observed in parts of California, according to Titov.

As assessments of flooding continue to come in, it takes time to determine how well the model performed.

“We know there were floods in Hawaii. We can’t ascertain the full extent yet, but initial reports seem to align closely with our predictions,” Titov shared.

On Wednesday at the Pacifica Municipal Pier Coastline in California, tsunami alerts were triggered following the earthquake.Tayfun Coskun/Anadolu via Getty Images

Why did residents in Hawaii evacuate for a 5-foot wave?

Yong Wei, a tsunami modeler and senior research scientist at the University of Washington and NOAA’s tsunami research center, indicated that 1.5 meters (5 feet) of tsunami waves could be highly perilous, particularly in Hawaii’s shallow waters.

Tsunami waves carry significantly more energy than typical wind-driven waves, possessing shorter wavelengths and durations between waves, resulting in slower speeds.

Wei noted that tsunami waves of this stature could surge several meters inland, producing hazardous currents and endangering boats and other objects.

Visitors stand on the balcony of the Alohilani Resort facing Waikiki Beach in Hawaii, responding to warnings of potential tsunami waves.Nicola Groom / Reuters

“People can get hurt. If you ignore the warning and stay, even a wave of two meters can be deadly,” Wei warned. “Being on the beach can expose you to powerful currents that may pull you into the ocean, which can lead to fatalities.”

Tobin expressed that he viewed the initial warning as conservative yet necessary.

“It’s essential not to belittle warnings. If nothing happens, people shouldn’t think, ‘Oh, we had alerts and nothing transpired.’ Warnings need to be cautious, allowing for some margin of error.”

Was this a significant event?

No. The Kamchatka Peninsula has a long history of seismic activity.

“This area has been slated for another earthquake, with several occurring recently, which indicates a heightened risk,” researchers noted.

In 1952, prior to a robust understanding of plate tectonics, a 9.0 magnitude quake struck the Kamchatka Peninsula in a similar location, resulting in a tsunami that impacted the town of Severokrilsk.

“The Russian populace was caught off guard. It was an immensely powerful quake, leading to a massive tsunami, and they were unprepared,” McInnes shared.

McInnes explained that the tsunami measured between 30 to 60 feet in height in the southern section of the peninsula.

“Thousands perished, and the town suffered considerable destruction,” stated Joanne Bourgeois, a professor emeritus of sedimentology at the University of Washington.

How will the tsunami warning system function if an earthquake threatens your area?

The Kamchatka tsunami arose from a massive earthquake along a subduction zone fault, where one tectonic plate is pushed below another. A comparable fault exists offshore the U.S. West Coast, known as the Cascadia Subduction Zone, stretching from Northern California to Northern Vancouver Island.

“It’s akin to a mirrored image of the Pacific Ocean,” remarked Tobin. “The relatively shallow depth of 8.8 in Cascadia is certainly plausible for a scenario here.”

In fact, Cascadia has the potential to produce significantly larger earthquakes, as modeling suggests it could generate tsunami waves reaching heights of 100 feet.

Typically, earthquakes in subduction zones yield tsunamis that reach the coast within 30 minutes to an hour, and predictions are developing better methods for estimating tsunami impacts along the U.S. West Coast before flooding occurs.

Titov emphasized that enhancing predictions will necessitate advancements in underwater sensors, improved computing infrastructure, and AI algorithms.

Tobin noted that the success of Tuesday’s tsunami warning should inspire more investments in underwater sensors and earthquake monitoring stations along the subduction zones.

“This incident highlights the significant role of NOAA and USGS. Many questioned these agencies’ relevance, but without NOAA, no alert would have been issued. The next warning could be for a more imminent threat. They truly demonstrated their importance,” he asserted.

Source: www.nbcnews.com

EPA Plans to Address “Forever Chemicals,” but Details are Limited.

The Trump administration has announced an increase in initiatives aimed at addressing PFA pollution, yet it remains vague regarding its support for Biden-era regulations that demand utilities to eliminate “forever chemicals” from the drinking water of millions of Americans.

“We are excited to engage in this process of exploring the world,” stated Lee Zeldin, Environmental Protection Agency administrator. “This marks the beginning of the efforts by Americans at PFA to ensure they enjoy the cleanest air, land, and water.”

PFA, or polyfluoroalkyl substances, are a group of chemicals linked to cancer and other health issues, commonly found in products like waterproof clothing and paper straws. These persistent chemicals are contaminating drinking water across the nation. According to the latest EPA data, up to 158 million Americans are impacted by PFA in their water.

Last year, President Joseph R. Biden Jr. implemented the first PFA limits on drinking water, effectively mandating local government water systems to eliminate specific types of PFA.

However, the Water and Chemical Industry Group has initiated a lawsuit claiming that drinking water standards impose excessive costs. The Trump administration is set to determine in court whether to maintain these standards ahead of the May 12 deadline.

On Monday, the EPA unveiled measures to combat PFA contamination, including designating officials to lead the agency’s chemical efforts, crafting guidelines on permissible PFA discharge from plants, engaging Congress, and developing mechanisms to hold contaminators responsible.

The EPA further indicated it would establish a plan to manage PFAS contamination in fertilizers derived from sewage sludge. There is heightened concern regarding the extensive contamination of U.S. farmland due to biosolid fertilizers containing harmful PFA levels.

Environmental groups expressed that the EPA’s proposal lacked clarity, particularly regarding the commitment to uphold Biden-era drinking water standards. Among the few indicators of the Trump administration’s approach was a reference to the need to address “compliance challenges.”

The Trump administration also faces a court deadline next month concerning its defense of two types of PFA classifications that require polluters to clean under the nation’s Superfund Act.

“What we really want is a clear answer; they are completely dodging this issue,” commented Eric D. Olson, senior strategist for drinking water and health at the Natural Resources Defense Council, an environmental advocacy group.

Olson noted that while the EPA claims to base its actions on scientific evidence, he pointed out that the agency plans to reduce its scientific research division and cut its overall budget by 65%. “On one hand, the EPA announces new initiatives, yet on the other, it aims to reduce budgets and eliminate the scientists responsible for these efforts,” he stated. “I fail to see how this reconciles.”

EPA spokesperson Dominique Joseph stated that the agency’s new leadership is currently reviewing the Biden administration’s drinking water standards. She did not provide insights on how the EPA plans to move forward with its Superfund policy.

Industry groups, including the American Water Works Association and the National Association of Manufacturers, that are suing the EPA over PFAs did not respond immediately.

James L. Ferraro, an environmental attorney representing several water operators, remarked that the EPA announcement “shows that agencies are aware of the financial strain that PFAS regulations impose on public water systems and the industry.” However, he noted that the new measures seemed “very preliminary.” “We’ll see how this develops.”

The EPA’s announcement on addressing PFA comes as the administration pursues broader efforts to roll back national climate and environmental regulations. Yet, polling consistently reveals that Americans prioritize clean water protection over climate change policies. This remains popular across political lines.

Even the White House has pushed back against the use of paper straws, citing that “scientists and regulators have raised significant concerns about PFAS chemicals for decades.”

Source: www.nytimes.com

Employees claim Trump’s Day policy is already jeopardizing the limited representation of women and minorities in STEM.

President Donald Trump’s recent order has classified diversity, fairness, and inclusion programs as “discriminatory,” causing concern among women working in federal government-related roles. They believe his directive is aimed at promoting a specific agenda rather than fostering a diverse workforce.

Women in the fields of science, technology, engineering, and mathematics (STEM) who are employed by the federal government are worried about their future prospects. They fear potential restrictions on STEM career opportunities and feel unwelcome under the current administration.

One female Hispanic STEM worker in a federal organization expressed her concerns anonymously, highlighting the lack of diversity in STEM-related roles and the potential impact of the administration’s policies.

The Trump administration has not yet responded to requests for comments on the issue. However, previous statements from the White House press director emphasized the administration’s focus on merit-based hiring.

The STEM field has long faced criticism for its lack of diversity, with women being underrepresented in these roles. Data from the National Science Engineering Statistics Center shows that women account for more than half of the US population but only one-third of STEM jobs in 2021.

Minority groups, including black and Hispanic workers, also face challenges in advancing their STEM careers. Research from the USDA Forest Bureau in 2023 revealed disparities in the progress and retention of non-white women and men in STEM roles.

“Scientific perfection requires diversity. So it’s important for science.”

A colored federal worker said in the STEM field.

Many federal employees, particularly those from minority backgrounds, believe that diversity is essential for scientific progress. They stress the importance of including diverse perspectives in research teams to improve outcomes.

A biologist working in the federal government shared her experience of benefiting from diversity recruitment programs early in her career. She emphasized the importance of providing opportunities for underrepresented groups to access STEM positions.

The potential sunset of diversity, fairness, and inclusion programs could hinder the recruitment and retention of women and minorities in STEM roles. These programs have historically provided support and guidance to these groups in navigating workplace dynamics and fostering a sense of belonging.

“Having support groups and programs tailored to women and minorities in STEM fields is crucial for creating an inclusive and productive work environment,” one Hispanic federal worker stated.

Source: www.nbcnews.com

Electric vehicles are limited compared to gasoline and diesel vehicles

Charging station for electric cars in British Cornwall

Mat Cardie/Getty Image

Electric vehicles (EVs) are currently limited to gasoline and diesel. And the improved reliability is more than a fossil fuel -driven car every year because of the still technology.

Robert Elliott At the University of Birmingham, his colleagues analyzed nearly 300 million records from the forced British road. MotIt indicates the status, age, and mileage of all vehicles on the road between 2005 and 2022. This covers a total of about 29.8 million vehicles.

The results showed that the average life expectancy of EVS was 18, 4 years or more, it was 16 years, exceeding the average diesel vehicle in 8 years, and in 18. At present, the average EV covers 200,000 kilometers over a lifetime, exceeding 187,000 km, where the gasoline counter part clocked up, but has not reached 257,000 km, which reaches on average.

Elliott says that the result is not only a gasoline and diesel -run alternative, but also proves that it has already defeated them. The survey also shows that long -term reliability has improved. The possibility that the EV fails and reach Scrapheap in a specific year is about six times faster than the diesel, about twice the speed of gasoline vehicles.

“The early electric car was not so good and I couldn’t trust it,” Elliott says. “But I think the main point is that technology is very rapidly improved.”

“We are not an environmental crusade. I just want to give facts. Electric vehicles and batteries have been alive, have improved their skills, and have been improved again since this research,” he says. 。

MOT data does not contain information about the amount required for maintenance and repair cars between tests, but only overall life. Other research from the United States shows The maintenance cost of an electric vehicle is about $ 0.06 per mile, but for an internal combustion engine, the value is $ 0.10 per mile.

Rachel Aldred At Westminster University in the UK, it is said that if you leave the gasoline and diesel vehicles, you will be profitable to fight climate change and air pollution, but EVs emphasize that the EV is not a silver bullet.

“It’s still a very inefficient and limited solution,” ALDRED. “If most people are avoiding a private car, lack of physical activity, road injury, and [residual] The pollution is also the same -although it is obviously much better [than petrol or diesel vehicles]。 She says walking, or equivalent cycling and public transportation should be a priority for those who can use these modes.

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  • transportation/ /
  • Electric car

Source: www.newscientist.com

Feeling limited in options: The reasoning behind Deborah’s use of shopping center Wi-Fi for schoolwork

Westfield Shopping Center is not an ideal place for studying, but for Deborah Botende, it was one of her few options.

Botende grew up in a foster care home in Brisbane and did not have internet access at her residence. During high school, she would return home after her retail job and use the shopping center’s Wi-Fi on a second-hand laptop to complete her school assignments.

On her days off, Botende would go to the library, but her time there was limited as the library closed early.

“It was extremely challenging. I often found myself falling behind on assignments and struggling to understand them,” she recalls. “The lack of internet was a significant barrier to my education. I had to take proactive measures.

“I would use the internet after work, sometimes coming home late to work on assignments. I felt like I had no other choice. This was my reality.”

As end-of-year exams commence nationwide, the Smith family is urging the federal government to establish a national device bank to bridge the digital divide among young individuals.

According to the latest data from the Australian Digital Inclusion Index (ADII), nearly a quarter of Australians are digitally excluded, lacking access to vital technologies such as fast internet and digital devices.

Doug Taylor, CEO of The Smith Family, mentions that around 10 million laptops, tablets, and PCs have been discarded by businesses and governments in the last five years. If these were recycled, 10 million students could benefit.

“Digital poverty is a new aspect of poverty that people are facing,” Taylor notes. “It’s a barrier that goes beyond just access.”

Device banks have been successful in other countries. Since 1993, the Canadian government has refurbished and distributed approximately 2 million digital devices through the Computers in Schools program, aiming to reduce electronic waste and enhance young people’s digital skills.

Similarly, The Smith Family has repurposed around 6,500 laptops as part of their digital inclusion efforts, noting that over 80% of students have shown improved academic performance after receiving these devices.

Mr. Taylor emphasizes that with the rapid advancements in artificial intelligence and new technologies, digital skills are now as crucial as basic literacy and numeracy skills in children’s education.

“We anticipate that more jobs will require higher education, and it’s difficult to envision pursuing higher education or entering the workforce without a laptop,” Taylor states.

“Furthermore, schools now view AI as an indispensable tool. Without access to it, students may face further disadvantages in their education.”

The primary reason for digital exclusion is affordability. Research from ADII shows that 65% of people in public housing experience digital affordability stress, needing to allocate more than 5% of their household income for a reliable internet connection, with 70% of them being unemployed.

Without a national digital inclusion framework, families in need must navigate fragmented state and territory grants, loans, and policies that lack coherence, according to Taylor.

There has been progress in recent years. The Queensland Government, for instance, has introduced funding for public schools to partially cover devices for economically disadvantaged students. Grant schemes are also available for upgrading broadband internet for distance learning students.

In Victoria, schools have implemented BYOD (Bring Your Own Device) programs, encouraging parents to provide devices for their children. In New South Wales, principals can approve the loan of digital devices for home use, though it is not mandatory.

“This is a solvable problem,” Taylor affirms. “We need to consider universal access. Just last week, I spoke to a student who was one of the few not taking notes on a laptop in a lecture. It struck me.”

“When students feel disconnected from the school environment, it impacts their educational experience. Grades suffer, and attendance declines.”

For Botende, who recently completed her advanced degree with the assistance of a donated laptop, individuals from lower socio-economic backgrounds already face numerous disadvantages.

“Digital inclusion may seem basic, but it levels the playing field,” she concludes.

Source: www.theguardian.com

Samsung Galaxy Book 4 Edge Review: Impressive Performance, but Limited Battery Life

Samsung’s first entry into Microsoft’s new Arm-powered Copilot+ PCs is the Galaxy Book 4 Edge, set to deliver impressive speed and battery life that can compete with Apple’s MacBook Air.


This sleek, ultra-thin laptop comes in 14-inch or 16-inch sizes and is powered by the Qualcomm Snapdragon X Elite chip, aiming to challenge Intel as the top PC laptop chip.

Prices start at £1,399 (€1,699/$999.99) for the base model, with the top-of-the-line 16-inch version priced at £1,700, positioning it as a premium competitor to products from Microsoft, Dell, and Apple.


The Galaxy Book features HDMI, USB-A, a microSD card slot, and a USB4 port, all in an incredibly thin and light 16-inch design. Photo: Samuel Gibbs/The Guardian

The laptop boasts a familiar Samsung Galaxy Book design with premium aluminum construction, but lacks originality in its aesthetics.

The standout feature is the vibrant OLED touchscreen display, though it may attract fingerprints and could be brighter. The anti-reflective coating enhances usability under various lighting conditions.

While the keyboard is standard, the oversized trackpad feels somewhat redundant with its traditional mechanical design. The speakers are decent but can be obstructed when using the laptop on soft surfaces.


The 16-inch model includes a number pad on the right side, contributing to a slightly off-center keyboard and trackpad layout. Photo: Samuel Gibbs/The Guardian

The laptop’s webcam offers AI effects but lacks facial recognition, requiring a fingerprint scan for unlocking.

Specifications

  • Screen: 14″ or 16″ 3K AMOLED 2880 x 1800 (120Hz)

  • Processor: Qualcomm Snapdragon X Elite

  • RAM: 16 GB

  • Storage: 512GB or 1TB

  • Operating System: Windows 11 Home

  • Camera: 2 megapixels (1080p)

  • Connectivity: Wi-Fi 7, Bluetooth 5.3, 2 x USB4, headphones, HDMI2.1 (USB-A and microSD 16″ only)

  • 14 inch Dimensions: 312.3 x 223.8 x 10.9mm

Source: www.theguardian.com

Uber achieves landmark moment with its first annual profit as a limited liability company

Uber reported annual operating profit for the first time as a limited liability company. It was a landmark moment for the company, which has spent billions of investors' money on an aggressive and often controversial expansion around the world.

The US taxi app company announced a profit of $1.1bn (£870m) in 2023, compared to a loss of $1.8bn the previous year.

The milestone has investors speculating about whether Uber will buy back stock or pay investors a dividend. Uber Chief Financial Officer Prashant Mahendra-Raja said the company will share its “capital allocation plan” with investors next week.

Uber stock rose 1% on Wednesday after initially falling. The company's stock has risen by more than a fifth through 2024 and doubled in the past 12 months, giving it a value of nearly $150 billion.

The company said customers have booked 2.6 billion trips in the past three months of 2023, which equates to about 28 million trips per day.

“2023 was a turning point for Uber, proving that we can continue to see strong, profitable growth at scale,” said Dara Khosrowshahi, Uber's chief executive officer. Our audience is bigger and more engaged than ever, and our platform powered an average of nearly 26 million trips every day last year.

Uber was founded in 2009 by entrepreneurs Garrett Camp and Travis Kalanick. Kalanick took over as CEO in 2010 and continued its expansion, during which time the app quickly spread across the United States, followed by Europe and many cities around the world.

This growth has been made possible by Uber's embrace of the gig economy, where drivers in many countries are considered self-employed and are not entitled to things like sick pay or paid time off.

Mr. Kalanick's time as CEO was marked by a series of scandals and battles with regulators. In 2022, leaks reported by the Guardian revealed how Uber broke laws, deceived police, and secretly lobbied governments while rolling out its service.

Mr. Kalanick was replaced in 2017 by Mr. Khosrowshahi, the former chief executive of travel agency Expedia, in an effort to soften the company's image and focus on meeting regulators' requirements.

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Dan Ives, an analyst at investment bank Wedbush, said Khosrowshahi has led “one of the greatest turnarounds in tech industry history” and that Uber is “not slowing down.”

Uber has consistently suffered significant operating losses since its stock listing on the New York Stock Exchange in May 2019. Losses increased from $3 billion in 2018 to $8.6 billion in 2019, then declined to $4.9 billion in 2020, $3.8 billion in 2021, and $1.8 billion in 2021. 2022.

Thanks in part to growing demand, the company made a profit in 2023. Gross booking value (the total amount paid by Uber riders and delivery customers) in the final quarter of 2023 increased 22% year over year to $37.6 billion. Uber's profit from these deals was $9.9 billion.

Source: www.theguardian.com