DIRS.INFO The most relevant business & tech news

☆ How the U.S. government is regulating artificial intelligence
▼ + stars: | 2024-04-13 | by ( Carlos Waters | In Carloswaters | ) www.cnbc.com time to read: +3 min

The U.S. government is considering laws to help society adapt to the introduction of artificial intelligence. Economists have worried for years that artificial intelligence could sink job prospects for white-collar workers, similar to the effects globalization has had on blue-collar workers in the past. In 2023, lawmakers in the New York State Assembly put forward a measure to limit the expected impact of tech-driven layoffs with robot taxes. Many economists have said that robot taxes, if used at all, should be set at a relatively low level. Watch the video above to learn more about the U.S. government's plan to regulate artificial intelligence.

Persons: Sebastian Siemiatkowski, Sora, Sam Altman, Erik Brynjolfsson, Brynjolfsson Organizations: CNBC, Force, European Union, Stanford Institute for, International Monetary Fund, New York State, Massachusetts Institute of Technology Locations: U.S, Brussels, United States

☆ DeepMind's cofounder Mustafa Suleyman warns that AI is a 'fundamentally labor-replacing' tool
▼ + stars: | 2024-01-18 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Mustafa Suleyman said the issue of AI replacing workers is an "open question" in the long term. The Google DeepMind cofounder said AI is a "fundamentally labor-replacing" tool in a CNBC interview. Since ChatGPT launched in 2022, there has been growing concern about AI technology. AdvertisementGoogle DeepMind's cofounder Mustafa Suleyman said AI is an "incredible technology" but that it is a "fundamentally labor-replacing" tool in the long-term, in an interview with CNBC's Squawk Box at the World Economic Forum in Davos on Wednesday . AdvertisementSome workers are concerned that AI will make their jobs obsolete because it can perform tasks like writing and coding .

Persons: Mustafa Suleyman, ChatGPT, —, CNBC's, Suleyman, OpenAI's ChatGPT, there's, Erik Brynjolfsson Organizations: Google, CNBC, Service, Economic, Business, Stanford University Locations: Davos

☆ Companies that use AI to replace workers will ultimately lose, Stanford University professor says
▼ + stars: | 2024-01-17 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Read previewCompanies are racing to deploy AI in the workplace but one Stanford University professor said the technology should be used to "complement people" rather than replace them altogether. Brynjolfsson explained that savvy companies will use AI in conjunction with workers because some tasks are better completed by humans and others by machines. Related storiesSome companies have been laying off workers as they implement AI. Some workers are naturally concerned about whether AI is coming for their jobs as the hype around the technology continues. Two CEOs working on new robotic technologies echoed Brynjolfsson's point, telling Business Insider that workers don't need to fear that AI will replace them.

Persons: —, Erik Brynjolfsson, Brynjolfsson, We're Organizations: Service, Stanford University, Business, Stanford Digital Economy Lab, Economic, Deloitte Locations: Davos

☆ 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

The American workers who have had their careers upended by automation in recent decades have largely been less educated, especially men working in manufacturing. But the new kind of automation — artificial intelligence systems called large language models, like ChatGPT and Google’s Bard — is changing that. The jobs most exposed to automation now are office jobs, those that require more cognitive skills, creativity and high levels of education. The workers affected are likelier to be highly paid, and slightly likelier to be women, a variety of research has found. In a majority of jobs, the models could do some of the tasks, found the analyses, including from Pew Research Center and Goldman Sachs.

Persons: Bard —, “ It’s, ”, Erik Brynjolfsson, Goldman Sachs Organizations: Stanford Institute for, Labor, Pew Research Center

☆ AI is going to eliminate way more jobs than anyone realizes
▼ + stars: | 2023-08-14 | by ( Emil Skandul | ) www.businessinsider.com time to read: +16 min

We didn't see the internet coming, but AI is within viewThe adoption of groundbreaking technology is often hard to predict. The World Economic Forum estimated 83 million jobs worldwide would be lost over the next five years because of AI, with 69 million jobs created — that leaves 14 million jobs that will cease to exist during that timeframe. In the US, the knowledge-worker class is estimated to be nearly 100 million workers, one out of three Americans. The small and large compounding effects of productivity growth across many industries are central to the growth trajectory and the long-run effects of AI. This is an alarmingly trivial amount for an economy of $25 trillion GDP and over 150 million workers.

Persons: Goldman Sachs, Joseph Schumpeter, Bill Gates, David Letterman, Paul Krugman, Erik Brynjolfsson, —, Brynjolfsson, Robert Solow, Robert Gordon, provocatively, It's, Gordon, David Autor, Maria Flynn, Flynn, –, Georgia –, Emil Skandul, Tony Blair Organizations: McKinsey, Newsweek, Stanford University, Microsoft, Amazon, Cisco, Economic, International Labor Organization, Organization for Economic Co, Development, MIT, Congressional, Office, Department of Labor, Tony Blair Institute Locations: Washington, Singapore, New York, Georgia

☆ How AI’s astonishing productivity gains could help curb inflation
▼ + stars: | 2023-07-12 | by ( Hanna Ziady | ) edition.cnn.com time to read: +7 min

Experts say the technology will help address a steep and prolonged slowdown in productivity growth in many Western economies, which has kept businesses’ costs higher than they would otherwise be and made inflation harder to tame. “AI has huge potential to increase productivity,” BlackRock CEO Larry Fink said at the company’s Investor Day last month. Productivity gains in Europe could be similar, albeit slightly smaller, Brynjolfsson told CNN. In some cases, productivity gains could be achieved sooner. That’s because most generative AI tools live on the internet — “the technology we already have on our desks” — making them widely accessible, Brynjolfsson said.

Persons: chatbot, —, Smart, Hannes P Albert, Bill Gates, Larry Fink, Erik Brynjolfsson, ” David McMillan, ” McMillan, Hollie Adams, Neil Shearing, Martin Neil Baily, Anton Korinek, Brynjolfsson, Goldman Sachs, ” Organizations: London CNN, Microsoft, BlackRock, CNN, Stanford University, Organisation for Economic Cooperation, Development, OECD, University of Stirling, Bloomberg, Getty, “, National Statistics, IBM, Capital, Brookings Institute, University of Virginia’s Darden School of Business, America, Productivity, Google, SAP, Goldman Locations: East, Scotland, London, United Kingdom, United States, Europe, Wimbledon

☆ Office workers everywhere are about to face their own Uber moment
▼ + stars: | 2023-06-05 | by ( Matt Turner | ) www.businessinsider.com time to read: +5 min

In other words, the lessons learned from months or years of experience are baked into an AI tool. The rise of AI tools could help millions of new software developersMicrosoft CEO Satya Nadella for example recently told Time that AI tools could lower the barriers to entry for software developers. This doesn't mean the great software developers won't remain great software developers but the ability for more people to enter the field will increase. That's good news for many wannabe software developers, but it's also bad news for many existing ones. "But for the most part, people in these jobs will just face more competition, similar to taxi drivers as Uber proliferated."

Persons: Uber, —, you'll, Carl Benedikt Frey, Erik Brynjolfsson, Lindsey R, Raymond, Danielle Li, Satya Nadella, it's, Aki Ito, Frey Organizations: Service, Transport, Oxford Martin School, Fortune Locations: London

☆ It's becoming clear that AI is going to whack the mediocre middle of office workers
▼ + stars: | 2023-06-02 | by ( Matt Turner | ) www.businessinsider.com time to read: +7 min

More specifically, AI could disproportionately impact the middle class of white-collar workers — the folks who are mid-career, mid-ability, mid-level, and yes, in some cases, mediocre. In other words, the lessons learned from months or years of experience are baked into an AI tool. Microsoft CEO Satya Nadella for example recently told Time that the same could be true for software developers. This doesn't mean the great software developers won't remain great software developers but the ability for more people to enter the field will increase. That's good news for many wannabe software developers, but it's also bad news for many existing software developers.

Persons: —, Erik Brynjolfsson, Lindsey R, Raymond, Danielle Li, Satya Nadella, it's, Aki Ito, Carl Benedikt Frey, Uber, Frey, Mark Muro, Jacob Zinkula, Richard Baldwin, Aaron Mok Organizations: Service, Fortune, Microsoft, Oxford Martin School, London, BT Group, Workers, Brookings Institution, Geneva Graduate Institute Locations: London, British, Switzerland

☆ 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.

☆ BT is cutting 55,000 jobs. Its CEO says AI could replace 10,000 of those by 2030.
▼ + stars: | 2023-05-19 | by ( Aaron Mcdade | Sindhu Sundar | ) www.businessinsider.com time to read: +3 min

British telecommunications giant BT said it will cut between 40,000 and 55,000 jobs by 2030. British telecommunications giant BT Group said it's planning to cut as many as 55,000 jobs by 2030 — and at least 10,000 of those jobs could be replaced by some form of artificial intelligence. BT Group CEO Philip Jansen said on an earnings call that the company will be a "beneficiary of AI — unequivocally," according to CNN. Jansen estimated that about 10,000 of the jobs BT will eliminate can be replaced by processes of "digitization and automation," like AI replacements. Now there's also a little research indicating how workers, particularly those in customer service, are interacting with such tools.

☆ High-skilled customer service workers given an AI assistant saw 'close to 0' boost in their productivity
▼ + stars: | 2023-05-04 | by ( Sindhu Sundar | Madison Hoff | ) www.businessinsider.com time to read: +4 min

The study found AI can help lower-skilled workers “communicate more like high-skill agents.”Morning Brew Insider recommends waking up with, a daily newsletter. New research may be showing insight into what generative AI could mean for workers at different skill levels. "But, as you can imagine, it doesn't help the high-skill workers that much, because that's the stuff that they already knew." "I think that we all are beginning to see that generative AI is different from some of the earlier waves," Brynjolfsson said. But he added that generative AI could be helpful for brainstorming ideas, or for creative purposes.

☆ Workers in a study got an AI assistant. They became happier, more productive, and less likely to quit.
▼ + stars: | 2023-05-03 | by ( Madison Hoff | ) www.businessinsider.com time to read: +7 min

Instead of looking at whether AI will replace workers, a study suggests it could improve work lives. A recent study by Erik Brynjolfsson, Danielle Li, and Lindsey R. Raymond shows that generative AI can actually boost productivity for workers. While their study was about generative AI and its impact on workers at a company, the researchers noted that the purpose of the study isn't to "shed light on the aggregate employment or wage effects of generative AI tools." The paper stated that the AI system used was "designed to augment, rather than replace, human agents." The AI system used by some of the workers in the study consisted of a GPT-based large language model along with machine learning algorithms.

☆ The top 10 buzziest companies Gen Z wants to work for—none of them are in Big Tech, says new report
▼ + stars: | 2023-05-01 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +5 min

The graduating class of 2023's desire for stability in an uncertain economy is dictating where they want to work most after college. It's hard to escape unrelenting news of tech layoffs in recent months, including major staff cuts from Meta, Google, Amazon, Microsoft and many others. "They're gravitating toward companies that offer solid benefits, career pathing and a level of stability they've been looking for." Most young professionals plan to pick up new tech skills for their careersThough search interest for major tech companies dropped, Cruzvergara says today's grads are more likely than their predecessors to be interested in jobs that require tech skills. New college grads feel confident they have the skills they need to get the job they want but also plan to develop new tech skills on the job or after hours.

☆ The No. 1 city in the world to travel and work remotely is in the US—and it isn't New York or LA
▼ + stars: | 2022-06-24 | by ( Jennifer Liu | ) www.cnbc.com time to read: +3 min

1 global city to take a working vacation. It comes out on top of 115 global cities in the ranking, which were chosen because of their prominence in the tourist industry and availability of "slow" travel options. Here are the top 10 best global cities to take a working vacation, according to Icelandair. While remote work makes it easier than ever to take a working vacation, a lot of people are coming back from these "breaks" more burned out than when they left. Some 61% of Americans who took a working vacation in the last year didn't consider them to be "true" vacations, according to Expedia's latest Vacation Deprivation study of 14,500 working adults across 16 countries.

Search resuls for: "Brynjolfsson"

15 mentions found