Forbes Daily: Cava Is On Its Way To Becoming The Next Chipotle

Good morning,

The next time you ask for career advice, the answer could come from a chatbot.

Employers and workers alike are beginning to embrace apps and programs powered by AI that can provide guidance on anything from negotiating a raise to delegating work to teammates. AI coaching, offered by startups and even LinkedIn, is emerging as a more affordable alternative for companies than the human kind, which costs an average of $244 an hour.

Naturally, some employees are concerned about privacy and the quality of advice. “We're a long way from a typical human being wanting [coaching] from a machine,” says one Harvard Business School professor. But, he adds, given the rapid improvements in AI, “it’s pretty dumb to bet against them.”

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Federal Reserve Chairman Jerome Powell said the “time has come” for interest rate cuts in his most important speech of the year in Jackson Hole, Wyoming, sparking a positive reaction on Wall Street. Powell indicated the central bank would do “everything we can” to support a strong labor market, and the S&P 500 posted a more than 1% gain within five minutes of the transcript’s release.

Two astronauts stuck on the International Space Station will return to Earth on a SpaceX capsule hopefully in early 2025, NASA announced, and not on the Boeing Starliner they arrived on because of safety concerns with the vessel. Boeing is estimated to have lost more than $1 billion on the Starliner program, and the situation could endanger the embattled aerospace company’s lucrative contract with the space station.

Cava wants to convince investors it’s the next Chipotle, and with its all-time high achieved Friday, the Mediterranean fast casual food company is on its way. Cava’s stock surged by nearly 20% after reporting better-than-expected earnings, and despite a strong year for fast casual food stocks, it’s worth almost 30% more than competitors Shake Shack and Sweetgreen combined.

The U.S. relies on Taiwan for its supply of semiconductors,........

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