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Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

OpenAI is betting that artificial intelligence-powered assistants will “hit the mainstream” by next year as tech groups, including Google and Apple, race to bring so-called AI agents to consumers.

AI agents, which can reason and complete complex tasks for people, have become the newest front in the battle between tech companies as they look to drive revenues from the fast-developing technology.

“We want to make it possible to interact with AI in all of the ways that you interact with another human being,” said Kevin Weil, chief product officer at OpenAI.

“These more agentic systems are going to become possible, and it is why I think 2025 is gonna be the year that agentic systems finally hit the mainstream,” he added.

At its developer day in San Francisco on Tuesday, OpenAI revealed increased access to its new model series called o1, which has improved reasoning, as well as GPT-4o’s advanced voice capabilities. Developers will be able to access this technology in real time, where the AI can understand voice commands and converse in speech in a live scenario akin to a call.

The push to bring AI agents to the masses is one way OpenAI expects its technical advances will help drive future profits, as it moves ahead with plans to restructure as a for-profit company.

The fast-growing start up is aiming to complete a $6.5bn funding round this week at a $150bn valuation by persuading backers it has the capacity to beat its rivals to critical technological milestones and dominate the sector. Investors in talks with the company in recent weeks have included Microsoft, Nvidia, SoftBank and venture capital firms Thrive Capital and Tiger Global, according to people familiar with the discussions.

Microsoft, Salesforce and Workday last month put agents at the centre of their AI plans, while Google and Meta have also indicated this would be a focus for them when putting their AI models into their products.

While AI-powered assistants have been in train for nearly a decade, these latest advances allow for smoother and more natural voice interactions and superior levels of understanding thanks to the large language models (LLMs) that power new AI models.

Last year, OpenAI released “assistants application programming interface”, which was designed to enable developers to build agents using its technology. But the company said this was hampered due to limitations in the capabilities of earlier models.

Weil said OpenAI’s latest models’ improved ability to think and reason would manifest in its products, including ChatGPT, and for start-ups and developers who build products using its API. The company would not comment on whether it immediately plans to build its own AI agent.

One example shown in a bespoke demonstration of the tools was speaking to an AI system to help source products to buy locally, such as strawberries. The AI would then call the business to place an order of strawberries, taking on the user’s instructions for how many and the desired spend.

OpenAI said any uses of such a technology would not be allowed to conceal it was AI rather than a human and was only available to developers in six presets, rather than building new voices.

“If we do it right, it takes us to a world where we actually get to spend more time on the things that matter and a little less time staring at our phones,” said Weil.

AN ULTRA-RARE error on a 50p coin has skyrocketed its value – you might have one in your wallet.

The Benjamin bunny coin is one of four 50p coins that were released in 2017 to celebrate famed author Beatrix Potter –  coins with Peter Rabbit, Tom Kitten and Jeremy Fisher on were also released as part of the collection.

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TikTok account CoinCollectingWizard instructed viewers to keep their eyes peeled for the lucrative coin.

He said: “If the Queen is upside down on your 50p coin then it’s worth ‘big money’. This 50p is an error all because the design is facing the wrong way.

“The error that’s left the Queen’s head in a different direction on the obverse design of the Benjamin Bunny on the reverse will have happened in the minting process.”

He added: “When you flip it round, the Queen should be facing the same way Benjamin Bunny. If the Queen is facing any other way, then you have found a rare rotation error worth money.

“Error coins are still legal tender so long as the original coin is still in circulation too.”

The influencer added: “That means you can easily come across one in your change.

“Often times error coins can sell for a lot more than their face value. So this is definitely something you need to be looking for as it can be easily missed.”

Concluding the video, he advised coin fans to take a closer look at the Benjamin Bunny 50p coin and said: “Flip that rabbit over and check the Queen.”

25 million of the coins were minted, so alone it won’t usually go for much more than £2.60.

But finding one with a mistake is rare, though it does make the coins more desirable at the same time, especially as they’re produced in low numbers.

Could I be quids-in with a rare error coin?

Often times error coins will sell for a lot more than their face value.

In April a rare £1 sold for £155 because it had upside down writing on its side.

Plus in February last year, another mis-struck £1 coin was sold for £112 as it had an error that left the silver-coloured inner part of the pound looking like a fried egg.

Error coins are still legal tender – so long as the original coin is still in circulation too.

That means you could easily come across one in your change.

Get an imperfect coin verified by the Royal Mint, and you could then place a value on yours if you come to sell.

It will also let you know if your change is legitimate or not as unfortunately there are many fake coins in circulation.

Online tools from change experts like Coin Hunter are helpful to see how much it could be worth too.

Plus, the number of bids on the listing can help you establish that the coin is the real deal as well.

The Benjamin bunny error coin only had two bids placed on the listing, so many coin experts will be skeptical of whether it actually sold for the price it said it had.

Also remember that if you’re selling on eBay, you need to keep in mind that a buyer could pull out as well which means it won’t have sold for the price that it says it has.

Volvo Cars has officially abandoned its ambitious target of selling 1.2 million cars per year by 2025.

CEO Jim Rowan confirmed that the goal is no longer realistic.

According to Boosted, the Swedish-Chinese brand had originally set the target when it went public three years ago, aiming for significant growth.

But it has since been forced to adjust its strategy due to tougher-than-expected market conditions.

In 2020, Volvo’s leadership, including former CEO Håkan Samuelsson, predicted a 55% increase in production and sales by 2025.

They also expected a profit margin of 8-10%. But unpredictable changes in the global car industry, especially in the electric vehicle sector, disrupted those plans.

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

Pink Floyd, the British rock band, has agreed to sell the rights to their vast catalogue of music including hits such as Wish You Were Here and Money to music label Sony for about $400mn.

The deal includes Pink Floyd’s recorded music, according to two people familiar with the matter, resolving the fate of one of the most valuable assets during a boom time for sales of vintage rock music.

The terms also include the band name and the artists’ “likeness”, one person added, which means that the label will have the rights to merchandise and spin-offs such as movies and TV series.

Songs have two sets of copyrights — one for the songwriting and one for the recording, or master copy. Pink Floyd has agreed to sell their recorded rights, but not the songwriting, said people familiar with the matter.

The agreement, which was struck this week, will mark the end of years of infighting and drama between band members over the details of the sale.

The deal marks the latest in a series of acquisitions of “heritage” artists BY Sony, which also struck a deal to acquire some of the rights to the British rock band Queen this year for about $1bn.

Pink Floyd is one of the best-selling groups of all time, with their hits including Another Brick in the Wall. Their music had been one of the remaining big-name catalogues up for grabs after deals struck by Bob Dylan, Bruce Springsteen and others in recent years. Rights to both Dylan and Springsteen were acquired by Sony, too.

But the group’s potential payout had been delayed for at least two years by disputes between band members over the tax structure of the deal, as well as bassist Roger Waters’ controversial comments.

An attempted sale in 2022 — which has attracted bidders such as Hipgnosis, Warner Music and BMG — was put on hold.

Waters and his bandmate David Gilmour have been at odds for more than four decades, which had previously jeopardised the band’s ability to cash out on their life’s work. The band’s other surviving member is drummer Nick Mason.

Sony and Gilmour declined to comment. Waters was not available for comment.

Heritage artists continue to be popular with new, younger audiences thanks to streaming services as well as use of their music in TV shows and films. Sony, like other labels, seeks to add value to its music catalogues through licensing agreements across streaming services, gaming and other media.

While the prices of music catalogues have softened from the highs reached in 2021 and 2022, there is still strong demand from investors for highly-coveted assets like Pink Floyd. Private equity giant Apollo in July agreed to fund Sony with up to $700mn to back music deals.

WETHERSPOONS will serve £1.79 pints in over 700 of its pubs next week – but you better be quick.

The popular chain announced that a 12-day beer festival will take place across all 809 UK Wetherspoons pubs.

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Beer lovers can enjoy 30 different real ales from October 9 to October 20.

The deal will include beers not previously available in Wetherspoons and others have been brewed specially for the festival.

Some will even be travelling from as far as Japan, Canada, New Zealand, and the USA.

Order an ale either at the bar or via the app – but we recommend having a browse of the festival magazine first, which you can also find online or via the app.

Marketing manager Jen Swindells said: “The festival is a great celebration of real ale.

“It will allow us to showcase a selection of superb beers, including those from brewers as far afield as Japan and New Zealand, as well as those closer to home, over a 12-day period.

“All of the beers will be available at great value- for- money prices.”

Specifically, for as little as £1.79.

Jen added: “The festival will also give our customers the opportunity to enjoy a number of beers which have not previously been available in the pubs, as well as those brewed specially for the festival.”

If you’re typically a lager drinker, lighter ales can be a great gateway into the ale world.

The Urban South: Who Dat is a golden ale, originally brewed in Louisiana, USA.

Flavoured with lemongrass, green grapes and grapefruit, Wetherspoons describes it as “crisp” and “refreshing”.

This is will be its first appearance in the UK.

On the other side of the coin is Elgood’s North Brink Porter.

Brewed in Cambridgeshire, this deep ruby ale is described by spoons’ magazine as a “firm favourite”.

It also has a “deep roast aroma”, with a “toasty chocolate flavour” and “hints of espresso and liquorice”.

Elgood’s North Brink Porter is a seasonal ale so it’s not brewed permanently.

Other beers in the line up include: Born to be Mild, a ruby ale by Conwy Brewery and Sun Lounger, a pale ale by Fyne Ales Brewery.

Plus; Salem Session, Mango in the Night, Sapphire Spoon, Banoffee Pie Golden Ale, and The Gloaming.

There are also vegan and vegetarian options available.

If a whole pint is too much of a commitment, three third-of-a-pint tasters will also be available for the price of a pint.

A HOTEL that looks like Noah’s Ark, recognised as the first full-scale replica, is one of Hong Kong’s most quirky and unusual places to stay.

Noah’s Ark Hotel and Resort can be found on the island of Ma Wan, next to the world-famous Tsing Ma Bridge.

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The hotel appears as a vessel washed up on shore, extending onto the golden sands and shimmering waters of Tung Wan Beach.

Inside, guests can expect a choice of spacious deluxe double, twin or themed family rooms with amenities such as a separate shower and bathroom and queen size beds.

There are seven themed rooms, one of which is British themed – expect a union jack bedspread and rug, a model of a Royal Mail letterbox, and a room full of cuddly teddy bears.

Other themes include ‘Mushroom Forest’, with mushroom toys and a toadstool tent.

Its two newest themed rooms are ‘Interstellar Voyage’, with rockets, planets and astronauts, and ‘Flying Adventure’, with planes and suitcases.

During their stay, guests can marvel at the resort’s Ark Expo and 4D theatre, where they can experience the flood of the ancient ark firsthand and discover the largest meteorite display in Hong Kong. 

They’ll also be surrounded by the thrill of the resort’s theme park, as well as panoramic views of the Tsing Ma Bridge from the zip line, and Adventureland Park.

There are three dining options at the hotel – the Harvest Restaurant, Harvest Beachside, and Noah’s Kitchen.

Harvest Restaurant offers international cuisine alongside views of Park Island Beach, Tsing Ma Bridge and Ting Kau Bridge.

Harvest Beachside is a new alfresco seaside restaurant equipped with leisurely style tables and seats.

And Noah’s Kitchen is an elegant, semi-open restaurant where guests can admire a vertical garden nature wall while they dine.

Ma Wan, despite being an island, is easy to get to. The best way to get there is to take the ferry from Central Pier or take the circular bus from Tseun Wan Bus Terminus.

Other things to do in Ma Wan include chilling out at Ma Wan Tung Wan Beach, located between the Park Island ferry pier and Noah’s Ark theme park.

There are also lots of family-friendly walking and hiking trails around, including the old fishing village on the water.

At the southern end of the island is the 69-meter-tall Tai Leng Tau Hill.

If you make it to the end of the 20-min hike, you can find one of the best viewpoints of Tang Lung Chau Island, Ma Wan Channel, and Tsing Ma Bridge.

Noah’s Ark & Hotel Resort is also a 12 minute drive to Hong Kong Disney Land Resort.

Deluxe double bed rooms at Noah’s Ark start from £74 per night based on two adults sharing, including breakfast.

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The best hotels in the world were recently revealed, and a Hong Kong hotel was named one of them.

The Peninsula, which came in fourth on The Telegraph’s list, is the oldest hotel in Hong Kong having opened in 1928.