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☆ Companies Are Luring Investors by Exaggerating What Their AI Can Do
▼ + stars: | 2024-03-27 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

The Securities and Exchange Commission's chair, Gary Gensler, recently warned about "AI washing," or companies giving off a false impression that they're using AI so they can amp up investors. And while some companies are simply exaggerating the tech they do legitimately use, others have taken it a step further. Most companies aren't being accused of breaking the law with their AI chatter, but they're definitely posturing around it. An analysis from Goldman Sachs found that 36% of S&P 500 companies mentioned AI in their fourth-quarter earnings calls, a record high. Even the Big Tech companies that are really moving and shaking in AI are on shifty ground at times.

Persons: Gary Gensler, Delphia, Goldman Sachs, Scott Kessler, Elon Musk, Adolf Hitler, it's, ChatGPT, Daron Acemoglu, Sam Altman, Ed Zitron, he's, It's, overselling, Angelo Zino, Microsoft's, Zino, Acemoglu, Emily Stewart Organizations: Securities, Exchange, SEC, Woodstock, Third, MIT, Prosperity, Nvidia, AMD, Broadcom, CFRA Research, Big Tech, Tech, Microsoft, Business Locations: San Jose , California

☆ The Age of AI BS: Companies Are Exaggerating What Their Tech Can Do
▼ + stars: | 2024-03-27 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

☆ AI investment is growing, and so are the career opportunities
▼ + stars: | 2023-11-17 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Within two months of OpenAI launching its AI chatbot ChatGPT last November, it surpassed 100 million monthly users. Major tech companies like Microsoft, Amazon, and Google have invested billions in deals with AI companies like OpenAI and Anthropic, while venture capital firms have placed eight-figure bets on AI startups. AdvertisementMore money in AI means more jobs in AI, and companies big and small are now on the hunt for AI talent. These AI jobs range from software developers and machine learning engineers building in-house AI tools to prompt engineers that fine tune AI chatbots to produce the best outputs. Generative AI has even created a cottage industry of side hustles like ChatGPT course instruction, AI content editing, and newsletters focused on AI-news.

Persons: —, chatbot ChatGPT, Goldman Sachs, Karin Kimbrough, LinkedIn's, Daron Acemoglu, Zer, Richard Baldwin, Aaron Mok Organizations: Service, Microsoft, Google, LinkedIn, Meta, Netflix, Apple, MIT, Nvidia, IBM

casey newton[CHUCKLES]:: And it would be so funny if the AI actually already was deceptive and was just like, oh, yeah, Kevin, you’ve already figured us out. But I also think it’s part of this sort of undercurrent of the conversation, especially around AI right now. Marc Andreessen — he is clearly so angry at all of the people who criticize technology, technology companies, tech investors. And he is just really, really going after that crowd with this piece. brent sealesYou know I don’t really know.

Persons: kevin roose Casey, casey newton What’s, kevin roose, casey newton, hasn’t, kevin roose I’m, I’m, KEVIN, casey newton Yes, Kevin Roose, ” casey newton, Casey Newton, Marc Andreessen, Casey, we’ve, kevin roose Totally, Claude chatbot, Claude, Anthropic’s, chatbot, Anthropic hadn’t, Anthropic, Kevin, — they’re, roose, Meta, it’s, I’ve, Bard, casey newton It’s, there’s, you’ve, casey newton Yeah, didn’t, Kevin — I’m, it’ll, Kevin —, Andreessen Horowitz, Uncle Marc, ”, “ you’re, Tucker Carlson, Jesus Christ, casey newton Well, kevin roose Oh, he’s, McCarthy, —, Nick Land, casey newton Totally, You’re, Daron Acemoglu, Simon Johnson, It’s, Marc Andreessen —, they’re, Nietzschean supermen, Nietzschean, Marc, casey newton Heck, Andreessen, Marc Andreessen decries, Marc Andreessen’s, CASEY, kevin roose That’s, you’re, Nat Friedman, who’s, Daniel Gross, John, Patrick Collison, Toby Lutke, Shopify, Aaron Levie, Brent Seales, — casey newton, There’s, Luke Farritor, ” brent seales, brent seales, that’s, Seales, haters, brent seales That’s, you’ll, casey newton Yep, brent seales —, brent seales We’d, brent seales They’re, They’re, Luke, Brent, brent seales Pliny, Elder, Jesus, brent seales What’s, casey newton Right, we’re Organizations: YouTube, The New York Times, Facebook, Google, Intelligence, America, AIs, Stanford, Communist, Netscape, Fox News, Communist Party, Technology, Venture, Twitter, acc, kevin roose Venture, Companies, Meta, University of Kentucky, British Locations: ”, Anthropic, China, Florida, California, United States, Europe, Romanian, interpretability, Valley, America, Silicon, Silicon Valley, Vesuvius, Rome, Greece, Herculaneum, Venice, Roman

☆ Tech was supposed to take everyone's job. We're still working. What happened?
▼ + stars: | 2023-10-17 | by ( Matt Turner | ) www.businessinsider.com time to read: +8 min

The ATM was supposed to wipe out bank tellers. And yet, here we are in 2023, with unemployment in the US at 3.8%, and an estimated 9.6 million jobs available. Tech typically creates more jobs overallSimply put, technology creates more jobs than it takes away. For example, there were fears that the advent of ATMs would put bank tellers out of work. And sure enough, a few years after the adoption of the ATM, there were fewer bank tellers per branch.

Persons: —, Morgan Stanley, David Autor, who's, Banks, James Bessen, Here's Morgan Stanley, Uber, Carl Benedikt Frey, Daron Acemoglu, Simon Johnson Organizations: Service, Tech, Microsoft, Microsoft Excel, National Association of Economic Research, London, Oxford Martin School Locations: London, Hollywood

☆ Worried AI will take your job? The history of Microsoft Excel should give you hope
▼ + stars: | 2023-10-12 | by ( Matt Turner | ) www.businessinsider.com time to read: +4 min

Lots of people are worried AI is going to take a bunch of jobs. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Earlier this year, Goldman Sachs predicted AI would impact 300 million jobs worldwide, triggering "significant disruption" in the labor market. In a big research report published recently, Morgan Stanley compared the rise of AI with past periods of technological innovation. AdvertisementAdvertisementThat makes is absolutely key to help those who do face disruption develop new skills, something Morgan Stanley notes:

Persons: —, Goldman Sachs, Daron Acemoglu, they're, Morgan Stanley, Here's Morgan Stanley, It's Organizations: Service, IBM, Microsoft Excel

☆ AI-Driven Cataclysm Could Rock the Job Market: Top Economist
▼ + stars: | 2023-09-18 | by ( Aki Ito | ) www.businessinsider.com time to read: +33 min

Over the course of three conversations this summer, Acemoglu told me he's worried we're currently hurtling down a road that will end in catastrophe. "There's a fair likelihood that if we don't do a course correction, we're going to have a truly two-tier system," Acemoglu told me. "I was following the canon of economic models, and in all of these models, technological change is the main mover of GDP per capita and wages," Acemoglu told me. In later empirical work, Acemoglu and Restrepo showed that that was exactly what had happened. "I realize this is a very, very tall order," Acemoglu told me.

Persons: who's, Katya Klinova, Daron Acemoglu, Simon Johnson, Acemoglu, Johnson, we've, he's, we're, Power, James Robinson, —, Robinson, David Autor, Pascual Restrepo, Restrepo, John Maynard Keynes, Simon Simard, Lord Byron, Eric Van Den Brulle, hasn't, it's, Gita Gopinath, Paul Romer, Romer, What's, Daron, GPT, Asu Ozdaglar, It's, Mark Madeo, Tattong, Erik Brynjolfsson, Brynjolfsson, There's, Yoshua Bengio, Yuval Noah Harari, Andrew Yang, Elon Musk, I've, That's, Aki Ito Organizations: Getty, MIT, of Technology, Hulton, London School of Economics, Stagecoach, Technology, —, International Monetary Fund, Microsoft, Asu, Companies, Computer, Greenpeace, Communications, Big Tech, Workers Locations: Silicon Valley, America, Boston, Istanbul, Turkey, Acemoglu, England, United States, Britain, Australia

☆ Insider Today: Tech's biggest lie
▼ + stars: | 2023-09-18 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

In recent years, some members of Congress have lacked a basic understanding of technology, let alone something as complex as generative AI. Marc Benioff spent much of the annual Dreamforce conference sounding the alarms on how untrustworthy generative AI is right now. Marc Benioff spent much of the annual Dreamforce conference sounding the alarms on how untrustworthy generative AI is right now. It's International Equal Pay Day. The UN General Assembly created this day in 2019 with "equal pay for work of equal value" in mind.

Persons: Mark Sumersett, isn't, Simon Simard, Daron Acemoglu, Insider's Aki Ito, Acemoglu, hasn't, Aki, It's, Nat Friedman, Rebecca Zisser, Peter Brown, Marc Benioff, Salesforce, Greg Johnson, Gary Reyes, Janette Beckman, Getty, Johnny Nunez, Lynn Goldsmith, Dakarai Akil, Tupac, Akon, Sean Kingston, Gucci Mane, There's, Carly Pearce, Valter Longo, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, MIT, Renaissance Technologies, Bloomberg Beta, McAfee, Oakland Tribune Staff, Interscope Records, Academy of Country, FOX, UN, Assembly, Getty Locations: Wall, Silicon, New York City, San Diego, London, New York

LONDON (AP) — Books about the perilous state of our world, our food and our relationship with technology are in the running for Britain’s leading nonfiction book award, the Baillie Gifford Prize. Best-selling American author David Grann is nominated for the stirring seafaring yarn “The Wager,” while physician-writer Siddhartha Mukherjee is in the running with “The Song of the Cell.”British journalist Hannah Barnes is on the list for “Time to Think,” which charts the demise of Britain’s controversial Tavistock gender clinic for children. Founded in 1999, the prize recognizes English-language books from any country in current affairs, history, politics, science, sport, travel, biography, autobiography and the arts. It has been credited with bringing an eclectic slate of fact-based books to a wider audience. Last year’s winner was Katherine Rundell’s poet biography “Super-Infinite: The Transformations of John Donne.”

Persons: Britain’s, Baillie Gifford, longlist, John Vaillant’s, Chris van, Daron Acemoglu, Simon Johnson, David Grann, ”, Siddhartha Mukherjee, Hannah Barnes, Tania Branigan’s, Katja Hoyer’s, Katherine Rundell’s, “, John Donne Organizations: Prosperity, “ Locations: British, Tavistock, East Germany

☆ Will AI be an economic blessing or curse? History offers clues
▼ + stars: | 2023-08-07 | by ( Mark John | ) www.reuters.com time to read: +6 min

Backers of AI predict a productivity leap that will generate wealth and improve living standards. The productivity gains it was once lauded for have slowed across many economies. In a globalised economy, there are other reasons to doubt whether the potential gains of AI will be felt evenly. That is just one of several factors that will help determine how AI shapes our economic lives - from antitrust policies that ensure healthy competition among AI suppliers through to re-training of workforces. "The question is: will AI exacerbate existing inequalities or could it actually help us get back to something much fairer?"

Persons: Richard Erkhov, Yiannis, Simon Johnson, Johnson, Daron Acemoglu, jenny, Natixis, Stefano Scarpetta, MIT's Johnson, Mary Towers, Eva Mathews, Mark John, Catherine Evans Organizations: REUTERS, MIT Sloan School of Management, McKinsey, Hollywood, Reuters, Labour, Social Affairs, Economic Cooperation, Development, UN, POWER, Britain's Trades Union, OECD, Thomson Locations: Pascal, Nicosia, Cyprus, U.S, American, Paris, Bengaluru

Unlike past tech booms that have touched San Francisco, the generative AI craze brings fewer jobs, because AI firms excel at staying lean and automating work. "I think we should curb our optimism that San Francisco commercial real estate will bounce back because of AI," said Silicon Valley investor Jeremiah Owyang. Eleven of the country's top 20 AI companies are in San Francisco and have raised $15.7 billion collectively between 2008 and 2023. That amount is just 2.3% of the estimated 150,000 daily workers that downtown San Francisco lost during the pandemic. Reporting by Anna Tong in San Francisco; Editing by Sayantani Ghosh, Anna Driver and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlos Barria, San, Jeremiah Owyang, Erin Price, Wright, OpenAI, Matt Schlicht, Mike Grabowski, Grabowski, Owyang, Lee Edwards, Daron Acemoglu, Anna Tong, Sayantani Ghosh, Anna Driver, Matthew Lewis Organizations: Intelligence, REUTERS, FRANCISCO, Reuters, Francisco, San Francisco Mayor London Breed's, San, Microsoft, Octane, Google, Nordstrom, Massachusetts Institute of Technology, Thomson Locations: San Francisco, California, U.S, Valley, NFX, Dubai

Tech giants Microsoft and Alphabet/Google have seized a large lead in shaping our potentially A.I.-dominated future. of Alphabet/Google, unveiled a suite of A.I. While there is some discussion as to whether Meta’s recent decision to give away its A.I. History has repeatedly demonstrated that control over information is central to who has power and what they can do with it. At the beginning of writing in ancient Mesopotamia, most scribes were the sons of elite families, primarily because education was expensive.

Persons: Sundar Pichai Organizations: Tech, Microsoft Locations: ChatGPT, Mesopotamia, Europe

☆ The AI boom could go one of 2 ways, and the path companies choose could make or break the US workforce
▼ + stars: | 2023-05-28 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +9 min

Businesses are expected to use AI to boost productivity and their profits. The adoption of AI could mean higher wages for workers — or that they lose their jobs altogether. In the years ahead, generative AI including ChatGPT could disrupt — not necessarily replace — 300 million full-time jobs across the globe, according to Goldman Sachs. Over the next decade, that AI productivity boost could increase S&P 500 profits by 30% or more, Ben Snider, a senior strategist at Goldman Sachs, told CNBC last week. "AI will make superstar companies more productive and profitable, but those profits might be achieved at the expense of other companies," he said.

Tens of billions of dollars of FX and gold reserves have been used up - another sign of systematic micro-management. Depositors have put some $33 billion into depreciation-protected bank accounts in the last two months, bringing the total to $121 billion - almost a quarter of all Turkish deposits. Benchmark international market bonds have fallen back 10%-15% and key FX market volatility gauges that look a year or more ahead have hit record highs. Eyes are now on the FX reserves and the lira as it surpasses 20 to the dollar, the latest major milestone in its long descent. "These weren't seen as cheap assets, they were seen as jewels," MIT's Acemoglu said of the M&A banking boom heyday.

☆ The Optimist’s Guide to Artificial Intelligence and Work
▼ + stars: | 2023-05-20 | by ( Sarah Kessler | Ephrat Livni | ) www.nytimes.com time to read: +2 min

Brynjolfsson and his co-authors of a study compared the call center employees who used the tool to those who didn’t. Customer sentiment was also higher and employee turnover lower in the group that used the tool. “That offers an opportunity to enable more workers to do valuable work that relies on some of that expertise,” he said. tool for some tasks may free up workers to expand their work on tasks that can’t be automated. Of course, there’s no guarantee that workers will be qualified for new jobs, or that they’ll be good jobs.

☆ AI like ChatGPT could change the day-to-day of white-collar jobs the most and reverse decades of tech-driven inequality — if we use it the right way
▼ + stars: | 2023-04-20 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +6 min

Artificial intelligence could cheapen educated labor and reduce inequality. "The general presumption is that AI — and even before that, office software — would impact middle-skill workers," Acemoglu told Insider. That word "exposure" means AI could either replace high-income workers, which would reduce inequality, or make them even more productive, which would increase it. "You can imagine devolving some of the most highly skilled tasks to less skilled people," Autor said. Additionally, "the more skilled workers may be able to shield themselves," he said.

☆ Baristas in San Francisco went on strike. Their robot co-workers went right on serving
▼ + stars: | 2022-10-18 | by ( Adam Rogers | ) www.businessinsider.com time to read: +12 min

For three days last month, 1,000 food-service workers at SFO went on strike over wages and working conditions. For decades, robots have been replacing, or at least nudging aside, human labor. But at SFO, robot baristas didn't simply replace humans — they crossed a picket line. Cafe X robot baristas stayed on the job when food-service workers went on strike at San Francisco International Airport last month. The short version is: Every new robot per thousand human workers reduces employment by 0.2 percentage points and decreases wages by 0.42%.

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