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London CNN —Jobs that require artificial intelligence skills offer significantly higher wages than those that don’t, according to new research published Tuesday. Consultancy PwC studied advertisements, posted last year, for a range of jobs, including app programmers, lawyers and accountants. It found that wages for AI-related roles were on average 25% higher in the United States than for comparable jobs in the same field that did not require those skills. Between 2012 and 2023, the number of jobs requiring AI skills grew 3.5 times faster than the total of all jobs across the countries studied, according to the report. “AI could be the missing piece of the UK’s productivity puzzle, bringing a boost to the economy, wages, and living standards,” said Sahneh at PwC.
Persons: PwC, ” Mehdi Sahneh, Barret Kupelian, , ” Randall Kroszner Organizations: London CNN, PwC, Bank of Locations: United States, United Kingdom, Canada, North America, Europe, Asia, PwC
Jim Simons, the prizewinning mathematician who abandoned a stellar academic career, then plunged into finance — a world he knew nothing about — and became one of the most successful Wall Street investors ever, died on Friday in his home in Manhattan. His death was confirmed by his spokesman, Jonathan Gasthalter, who did not specify a cause. After publishing breakthrough studies in pattern recognition, string theory and a framework that combined geometry and topology with quantum field theory, Mr. Simons decided to apply his genius to a more prosaic subject — making as much money as he could in as short a time as possible. Spurning financial analysts and business school graduates, he hired like-minded mathematicians and scientists. Mr. Simons equipped his colleagues with advanced computers to process torrents of data filtered through mathematical models, and turned the four investment funds in his new firm, Renaissance Technologies, into virtual money printing machines.
Persons: Jim Simons, Jonathan Gasthalter, Simons Organizations: Street, Renaissance Technologies Locations: Manhattan
When I asked new college graduates last month to tell me about their job searches, I got back a ton of heartache. For some, a sense that college was a waste of time and money. John York wrote that he was about to earn a master’s degree in mathematics from New York University. Utterly demoralizing,” wrote Beth Donnelly, who is graduating this month with a major in linguistics and minors in German and teaching English as a second language. “I’ve been searching since early August for full-time, part-time or internship positions after I graduate.
Persons: John York, , , he’s, ” Mauricio Naranjo, Beth Donnelly, I’ve Organizations: New York University, Financial Analysts
A recent Wall Street Journal poll of American voters in swing states found that while people think the national economy is in bad shape, they feel good about their personal finances. In Gallup polling from last April, just 16% rated the economy as “good” or “excellent,” but 45% said their personal finances were “good” or “excellent.”But according to available data the economy has improved. But the dichotomy between how people feel about their own finances and the economy at large presents a different conundrum. It’s important to look at consumer behavior and not just sentiment when determining how Americans feel about the economy, said Harris. Those behaviors signal that Americans, overall, actually feel pretty good about their economy.
Persons: New York CNN — Nathan Frederiksen, , , ” Frederiksen, It’s, “ We’ve, I’ve, ” He’s, , Wisconsin —, Joe Biden, Ben Harris, else’s, ” Harris, Harris, Jonathon Barricklow, Barricklow, we’d, Dave Koloskee, he’ll, Megan McCoy, we’re, ” McCoy, Julie Levitch, Suze Orman, she’s, I’m, ’ ”, , they’re Organizations: New, New York CNN, CNN, Gallup, Economic, Brookings, Bureau of Labor Statistics, Facebook, Kansas State University, , Finance, LinkedIn Locations: New York, Boise , Idaho, Arizona, Georgia, Michigan, North Carolina , Nevada , Pennsylvania, Wisconsin, it’s, United States, Bowling Green , Ohio, East, Europe, Erie , Pennsylvania, Scottsdale , Arizona
PinnedWith the year’s first quarter in the books, the Labor Department will release its latest update on the labor market Friday morning. Economists expect the March report to show that over 200,000 jobs were added for the fourth consecutive month, according to a Bloomberg survey. The report is expected to show that the unemployment rate ticked down to 3.8 percent from 3.9 percent in February. It’s a remarkable change from a year ago, when top financial analysts were largely convinced that a recession was only months away. Nevertheless, there is “still absolutely nothing happening” in key measures of long-run jobless claims, said Guy Berger, director of economic research at the Burning Glass Institute, which studies the labor market.
Persons: , Joe Davis, Guy Berger Organizations: Labor Department, Bloomberg, Federal, Vanguard, Federal Reserve, Glass Institute Locations: U.S
An aerial photo shows Boeing 737 Max airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, on March 21, 2019. Calhoun told CNBC on Monday that the decision to retire was "100%" his own and that he would be involved in finding his successor. "We need someone to fix Boeing," one major airline executive, who wasn't authorized to speak to the media, told CNBC after Boeing announced the management shake-up Monday. "I want somebody who knows how to handle a big, long-cycled business like ours," Calhoun told CNBC in an interview Monday while announcing his departure. Four-year Boeing board member Steve Mollenkopf, an ex-Qualcomm CEO who will take over as independent chairman of the board, will lead the search.
Persons: Dave Calhoun, Max, Larry Kellner, Stan Deal, Calhoun, wasn't, John Plueger, It's, Steve Mollenkopf, Cowen, Cai von Rumohr, here's Organizations: Boeing, Max, Boeing Factory, Monday, CNBC, Air Force One, Alaska Airlines, Air Lease, Airbus, Financial, Qualcomm Locations: Renton , Washington, China
Because anti-smoking groups aren’t just fighting the tobacco companies these days. They have fractured over tobacco harm reduction — the idea that people who cannot or will not quit smoking should be provided with alternatives, notably e-cigarettes, which deliver nicotine without burning tobacco. They argue that e-cigarettes will lead to a new generation addicted to nicotine, even if they are not smoking. It focuses largely, but not entirely, on reduced-risk nicotine products, a category that includes e-cigarettes, oral tobacco, and “heat not burn” products that warm up tobacco without burning it. There are no safe tobacco products; all fall along what’s called a continuum of risk.
Persons: Cliff Douglas, Philip Morris, Douglas, , ” Douglas, Bloomberg Philanthropies, American Heart Association —, Michael Bloomberg, that’s, General’s, , Charles Gardner, Joanna Cohen, Ellen MacKenzie, Yolonda Richardson, Deborah Arnott, “ I’m, Michael Cummings, they’ve, Marc Gunther Organizations: Foundation, Philip, Philip Morris International, American Cancer Society, American Lung Association, Centers for Disease Control, Bloomberg, Tobacco, American Heart Association, Truth Initiative, Rockefeller, UBS Optimus, Bloomberg School of Public Health, Johns Hopkins University, Campaign, Reuters, FDA, Centers for Disease, Medical University of South, Associated Press, Philanthropy, AP Locations: United States, – California , Massachusetts , New Jersey , New York, Rhode, San Francisco, , British, Medical University of South Carolina, vaping
And her next mountain to climb is the Winter Youth Olympic Games (YOG) in Gangwon, South Korea – which begin this Friday – with an eye firmly set on the 2026 Winter Olympics in Italy. Her exploits, both on and off the slopes, led to her recently being named the Global Ambassador for Gangwon 2024. Gu in action during the women's freestyle skiing freeski big air finals at the 2020 Winter Youth Olympic Games. Because no matter where you’re from or what sport you’re in, you’re a similar age, you’re [from a] similar background. But I do notice that people keep their mouth shut around me now, but I think that’s not really fair.
Persons: Eileen Gu, Gu, stokes, , Gu hasn’t, Ben Queenborough, OIS, “ It’s, It’s, , ’ ”, ” Gu, Richard Heathcote, won’t, there’ll, Organizations: CNN, Olympic, Beijing, Big Air, Global, Gangwon, CNN Sport, Stanford University, USA, Sports, Reuters, Youth, Deloitte, Getty, Paris Olympics Locations: Gangwon, South Korea, Italy, China, Lausanne –, Beijing, Switzerland, Canada
United Airlines said Monday that it has found loose bolts on door plugs of several Boeing 737 Max 9 planes during inspections spurred when a panel of that type blew out during an Alaska Airlines flight using that type of aircraft last week. Alaska Airlines later Monday said its initial inspections of the jets had turned up "loose hardware" and that, "No aircraft will be returned to service" until formal reviews are complete. The Federal Aviation Administration on Saturday grounded dozens of 737 Max 9s after the panel blew out midflight on Alaska Flight 1282. Plane manufacturer Boeing said earlier Monday it issued instructions to airlines to conduct the inspections of the Max 9s in their fleets. The 737 Max is Boeing's best-selling aircraft, with more than 4,000 orders to fill.
Persons: Max, Dave Calhoun, Calhoun Organizations: Airlines, Boeing, Max, Alaska Airlines, FAA, Federal Aviation Administration, Tech Ops, National Transportation Safety, CNBC PRO Locations: midflight, Alaska
What little suspense is left in the year revolves around whether the S & P 500 can close at a historic high. Closing the year at a historic high is a fairly rare event — it's only happened eight times since 1926, and only four times since 1963, according to S & P Global: 2020, 2013, 1999, 1991, 1963, 1958, 1954, 1928. So far, the S & P is up 0.9% in these first four of the seven days. The S & P internals are almost the opposite of where they were a year ago. S & P 500: overbought and expensive: Relative Strength Indicator (RSI): 72 (overbought) % stocks over 50-day- moving average: 89% (high, overbought) Forward earnings P/E: 19.6 (expensive) Earnings growth: 11% (high) Markets are positioned very bullish.
Persons: Santa Claus, Ingersoll Rand, Parker, Eaton, General Mills, Hendrik Bessembinder, It's Organizations: Mastercard, Capital, American Express, Union Pacific, General, Nike, FedEx, Global, CFA, U.S Locations: Santa, Eaton, Hannifin, Wayfair, United States
Amazon Web Services' Global AI Innovation Center, led by Sri Elaprolu, launched in July. Elaprolu said AWS customers are getting serious about moving ideas from concept to production. Still, most AWS clients don't quite know where to start with generative AI — that's where the AWS Generative AI Innovation Center comes in, Sri Elaprolu, the global head of AWS Generative AI Innovation Center and an 11-year AWS veteran, said. Interest in the Generative AI Innovation Center has been high since the company announced it in June, Elaprolu said. Many AWS customers are just beginning to think about generative AI, but an increasing number are starting to bring ideas into production.
Persons: Sri, Elaprolu's, , Sri Elaprolu, Elaprolu, It's Organizations: Amazon Web Services, AI Innovation, Service, Web, Center, PGA Tour, Bridgewater Associates, Business, Bridgewater, AWS Locations: Sri Elaprolu, Sri
CNN —Elite women’s sports will generate revenue of $1.28 billion in 2024, according to financial analysts Deloitte, up 300% from three years ago. “Crucially, women’s sport is increasingly being viewed as a unique product that is becoming ever more distinct from men’s elite sport.”The forecast comes at an exciting time for women’s sports, which have generally been on an upward trajectory in recent years. The FIFA Women’s World Cup, for example, was a roaring success which brought soccer to a whole new audience. Deloitte predicts the Women's Tennis Association (WTA) tour will be a major contributor to revenue next year. Sarah Stier/Getty ImagesDeloitte’s predictions forecast that valuations of women’s teams and leagues will continue to rise, with broadcast deals becoming increasingly lucrative.
Persons: ” Jennifer Haskel, , Luis Rubiales, Jennifer Hermoso, Sarah Stier, ” Paul Lee, Organizations: CNN, Elite, Deloitte, Deloitte’s Sports Business, FIFA, Tennis Association, “ Broadcasters Locations: Spanish, Spain, Europe, North America
New Delhi CNN —The CEO of a Chinese live-streaming service backed by Tencent has become the latest high-flying executive to fall mysteriously silent in the world’s second largest economy. According to a Monday report from the Cover News, a state-owned media outlet, DouYu (DOYU) CEO Chen Shaojie has been unreachable in recent days. It also cited unconfirmed reports that Chen was being investigated and had been missing for nearly three weeks. DouYu listed on the Nasdaq in 2019, where it raised about $775 million in one of the largest share offerings by a Chinese company on Wall Street that year. Chen’s unexplained absence comes as China continues an anti-corruption crackdown that has ensnared top executives, particularly in the finance and tech sectors.
Persons: Tencent, Chen Shaojie, Chen, DouYu, Zhang Hongli, Zhang, Bao Fan, Bao, haven’t, Xu Jiayin Organizations: New Delhi CNN, CNN, Nasdaq, Wall, Industrial, Commercial Bank of China, Central Commission, Inspection, Evergrande Locations: China, New Delhi, Hong Kong
Economists already utilize machine learning, a branch of AI, to analyze data and develop economic projections. Korinek expects it to “revolutionize research,” according to a paper he wrote that was accepted for publication by the Journal of Economic Literature. Impact on employmentSo what could be the impact of genAI’s advancement on employment in economics? Jobs site Indeed conducted a recent study gauging the level of exposure of certain jobs to genAI based on the skills needed to perform them. Economists use a lot of technology to do their jobs, which are tasks that genAI could also perform, especially as it becomes more and more refined.
Persons: CNN — Anton Korinek, , , ” Korinek, GenAI isn’t, Louis, Bing, Google’s Bard, Anthropic’s Claude, GenAI, Claude 2, Korinek, It’s, Tyler Cowen, Alex Tabarrok, “ ChatGPT, ” Cowen, Tabarrok, GPT, genAI, Louis Fed, Svenja, ” Gudell Organizations: CNN, University of Virginia, Korinek, Journal, Economic, George Mason University, Federal Reserve Bank of St, St, Professional Locations: genAI
The collective impact of higher rates across the economy could also weaken the government's own finances. With borrowing rates high and inflation still relatively elevated, consumers, who drive about 70% of economic growth, are expected to spend more cautiously. “Those tighter, higher rates will have an impact on the economy.”Financial analysts point to several reasons for the rapid increase in lending rates. Overseas buyers have reduced their purchases, thereby forcing rates higher to attract buyers. “All of that is driving these fears of higher rates, and no one knows when it’s going to stop,” said Gennadiy Goldberg, head of US rates strategy at TD Securities.
Persons: Kevin McCarthy, Goldman Sachs, Goldman, Freddie Mac, Loretta Mester, ” Mester, it’s, , Gennadiy Goldberg, Benson Durham, Piper Sandler, Durham, Jerome Powell, , we’re, ’ ”, Nancy Vanden Houten, David Page Organizations: WASHINGTON, United Auto Workers, Representatives, Republican, Treasury, Federal Reserve Bank of Cleveland, , Fed, Treasury Department, TD Securities, Oxford Economics, AXA Locations: U.S, ’ ” Durham, London
But let's face it, many of the tasks junior bankers spend their time on could very well be done by a robot. "As a junior banker you don't critically think. With artificial intelligence progressing by leaps and bounds, how will it impact the job of the junior banker? She said it's already helping junior bankers get their jobs done faster. "It will allow junior bankers to operate at a higher level with that first pass of analysis being prepared by the technology," said Torrente.
Persons: Wall, Tamara Bitticks, it's, Carlo Allegri, Bitticks, Crystal Cox, Peter Torrente, Bogdan Tudose, Morgan Stanley, Tudose, Goldman Sachs, Banks Organizations: Deutsche Bank, Reuters, Deloitte, Industry, Wall, Google, KPMG, Blackstone, JPMorgan, Excel, Getty, Deutsche Locations: Manhattan, San Francisco
Turkey’s central bank raised interest rates to 25 percent from 17.5 percent on Thursday, a big jump that underscored a shift by the country’s president, Recep Tayyip Erdogan, toward a more orthodox monetary policy to control inflation that exceeded an annual rate of 80 percent last year. The size of the increase, which put the benchmark rate at its highest level since 2004, was bigger than expected, exceeding forecasts from financial analysts, who had predicted a more modest jump after July’s 2.5 percent rise. After the announcement, the Turkish lira quickly rallied, briefly rising more than 7 percent against the U.S. dollar. It was trading at 25.6 per dollar by early evening in Turkey. In a statement, the Turkish central bank said it had “decided to continue the monetary tightening process in order to establish the disinflation course as soon as possible, to anchor inflation expectations, and to control the deterioration in pricing behavior.”
Persons: Recep Tayyip Erdogan, Organizations: U.S . Locations: Turkish, Turkey
And only a handful of stocks have accounted for the bulk of wealth creation in the stock market in the last 30 years. The good news: U.S. companies are far and away the biggest drivers of stock wealth creation in the last 30 years. Stock market wealth is highly concentrated How can this be? Just five stocks accounted for 10% of global net stock market wealth creation over 31 years. The reason, as this paper demonstrates, is that stock returns are not normally distributed over time.
Persons: Hendrik Bessembinder, Johnson, Roche, Kwiechow, Tencent, Tesla, Nicholas Colas, Larry Swedroe, Swedroe, Colas Organizations: Global, CFA, Treasury, Microsoft, Apple, Walmart, Facebook, Samsung, Johnson, Taiwan Semiconductor, Nestle, U.S, DataTrek Research, Strategic, New York Stock Exchange Locations: United States, U.S, China
Logos of Swiss banks UBS and Credit Suisse are seen in Zurich, Switzerland March 20, 2023. In Switzerland, up to 10,000 jobs could be affected with Zurich bearing the brunt if UBS goes ahead with its indicated preferred option of absorbing Credit Suisse and cutting overlapping jobs and operations. "The large banks have many highly paid very specialized roles, where frankly there is very little demand in the market outside UBS and Credit Suisse," he said. Job cuts at Credit Suisse will hit Swiss and foreign nationals on its payroll, which may mean some have to leave Switzerland if they can't find a new job. Swiss banks have been looking in particular to snap up relationship managers with strong client relationships and solid books.
Persons: Denis Balibouse, headhunter Fredy Hausammann, Hausammann, Adecco, Balz Stueckelberger, Sergio Ermotti, Lombard Odier, Marco Arnold, Giorgio Pradelli, Pradelli, EFG, Noele Illien, Susan Fenton Organizations: UBS, Credit Suisse, REUTERS, Reuters, State Secretariat, Economic Affairs, Arbeitgeber Banker, Swiss, EFG's, Thomson Locations: Zurich, Switzerland, Swiss, Europe, Zug
How does code interpreter work? But when code interpreter is enabled, ChatGPT writes and runs a piece of computer code to find the answer, OpenAI said. “The code objectively does something right,” said Ethan Mollick, an associate professor at the University of Pennsylvania, who tested code interpreter for two months before it was released. What have people used code interpreter to do? Some people have also used code interpreter to convert the formats of files, such as turning images into videos or PDF documents into pictures.
Persons: ChatGPT, OpenAI, , Ethan Mollick, Mollick Organizations: University of Pennsylvania, Financial Locations: United States
12 of the highest-paying jobs in finance
  + stars: | 2023-06-29 | by ( ) www.businessinsider.com   time to read: +13 min
Getty Images/Peter DazeleyThe finance industry has many high-paying jobs such as chief financial officer, and investment banker. The finance industry is brimming with high-paying, excellent jobs, whether you want to become an accountant, financial analyst or something else entirely. Financial risk managerFinancial risk managers have very important jobs: they help companies and investors understand different levels of financial risk. As high-earning financial professionals, their financial modeling and financial reports are invaluable to the finance sector at large. Most finance professionals in this position have years of experience.
Persons: Peter Dazeley, CPAs Organizations: Getty, Morning, U.S . Bureau of Labor Statistics . Investment, Investment, Financial
A pair of new 24-inch iMacs are slated for launch, Bloomberg reported Sunday. A new Apple Watch Ultra, as well as two sizes of the next-generation Apple Watch 9, are also expected, according to the report. The MacBook Pro will ship in 13-, 14- and 16-inch variants, Bloomberg reported, all featuring Apple's new M3 chipset. Along with the new products, consumers and investors are watching to see how the company's Vision Pro will sell. Still, specs suggest the Vision Pro is more powerful than nearly all of its competitors, with two high-definition screens and custom processors to reduce latency.
Persons: Apple Organizations: Bloomberg, Apple, Apple Watch Locations: WWDC
And Bristol Myers Squibb is trying protect its blood thinner Eliquis, which brought in $11.8 billion in sales last year, or about 25% of the company's $46 billion total revenue for 2022. Long legal battle aheadMerck, the chamber and Bristol Myers Squibb filed their lawsuits ahead of two key deadlines. Bristol Myers Squibb did not either. If circuit court decisions on the matter contradict one another, the Supreme Court would step in to decide the issue, Bagby said. Bristol Myers Squibb made an identical argument in its complaint.
Persons: Richard A, Gonzalez, Pascal Soriot, Giovanni Caforio, Jennifer Taubert, Johnson, Kenneth C, Frazier, Albert Bourla, Olivier Brandicourt, Win Mcnamee, Drugmaker Merck, Drugmaker, Bristol Myers Squibb, PhRMA, Eli Lilly, Merck, Bristol Myers, Robin Feldman, Nicholas Bagley, Bagley, Gretchen Whitmer, Chris Meekins, Raymond James, Antonin Scalia, Brett Kavanaugh, Neil Gorsuch, Meekins, Long, Xavier Becerra, Randolph Daniel Moss, Barack Obama, Judge Thomas M, Rose, George W, Bush, Kelly Bagby, Bagby, Amgen, Donald Trump, Karine Jean, Pierre, Biden, Jean, we'll, Becerra, Feldman Organizations: Senate, AbbVie Inc, AstraZeneca, Myers Squibb Co, Janssen Pharmaceuticals, Johnson, Merck & Co, Inc, Pfizer, Sanofi, Getty, U.S . Chamber of Commerce, Bristol Myers Squibb, Washington , D.C, Southern, Southern District of, Democratic Party, U.S, Merck, Bristol, Pharmaceutical Research, Manufacturers of America, CNBC, Medicare, University of California College of, Justice Department, Michigan Gov, Bristol Myers, Human Services, Centers, Services, AARP Foundation, HHS, AARP, Specialty Pharmacy, Reuters, Supreme, Appeals, Democratic, U.S . Sixth, Republican, Third, White Locations: America, Washington , DC, Bristol, U.S, Washington ,, Southern District, Southern District of Ohio, New Jersey, Commerce's Dayton , Ohio, San Francisco
To create this list, TipRanks analyzed every recommendation made by financial sector analysts in the past decade. Top 10 analysts from the financial sector The image shows the most successful Wall Street analysts from the financial sector, in descending order. 3 on TipRanks' top 10 financial analysts list. To create this list, TipRanks analyzed every recommendation made by financial sector analysts in the past decade. 3 on TipRanks' top 10 financial analysts list.
People place great weight on facial characteristics, which some stock analysts apparently benefit from. Illustration: Alex NabaumFor male financial analysts, having a face that is perceived as strong can be a competitive advantage, a study suggests. But for women analysts, it can be a disadvantage, according to the study.
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