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☆ Workday raises annual subscription revenue forecast on steady product demand
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

Nov 28 (Reuters) - Workday (WDAY.O) raised its annual subscription revenue forecast and beat estimates for quarterly profit and revenue on Tuesday, benefiting from an easing macro environment and strong demand for its cloud-based software services. Shares of the Pleasanton, California-based company rose 3.2% in extended trading. The company now expects full-year subscription revenue of $6.598 billion, compared with its previous expectation of $6.570 billion to $6.590 billion. The company reported third-quarter total revenue of $1.87 billion, higher than analysts' estimates of $1.85 billion, according to LSEG data. Workday's subscription revenue rose 18.1% to $1.69 billion.

Persons: Carl Eschenbach, Zaheer Kachwala, Maju Samuel Organizations: ADP, Accenture, Thomson Locations: Pleasanton , California, Bengaluru

☆ This key element of ESG investing could drive real change at companies and boost returns
▼ + stars: | 2023-11-18 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

The social pillar of the environmental, social and corporate governance investing framework — known as ESG in short — has been dubbed the "middle child" largely due to data challenges. For years, the social pillar has been considered relatively nebulous and hard to quantify. And it comes despite the fact that the ESG investing framework has found itself in hot water politically. In these cases, she said the social pillar comes into play in ensuring a carbon transition is equitable and just. A fraught environmentGlobally, it appears social themes will become more clear and important to investors over time.

Persons: Michael Nagle, ESG, Michael Young, Young, They're, Marian Macindoe, Insperity, Fuller, Macindoe, that's, Yijia Chen Organizations: New York Stock Exchange, Bloomberg, Getty Images Bloomberg, Getty, Sustainable Institute, BNP, Securities and Exchange, Commission, Parnassus Investments, Irrational Capital, Microsoft, Apple, Apple Hospitality, Calvert Research, Management Locations: New York, U.S, United States, Harbor, ESG

☆ To Become a World-Class Chipmaker, America Might Need Help - The New York Times
▼ + stars: | 2023-11-17 | by ( Peter Coy | ) www.nytimes.com time to read: +2 min

I’m going to decline a $2.25 order in almost every instance. L.A. SchwartzUnion, Ky.You quoted the great economist Frank Knight. Here is a story about Frank Knight and George Stigler you might find interesting. In 1962 I was a research assistant to George Stigler at the University of Chicago. I now have a copy of ‘The Wealth of Nations’ that I can prove was read by Frank Knight.”

Persons: Adam Ozimek, ”, I’m, L.A, Frank Knight, George Stigler, Adam Smith’s “, ” Knight, Stigler, Knight, George, “ Organizations: Economic Innovation, Schwartz Union, University of Chicago, Nations Locations: United States, Ky

☆ Walmart is at work on a new degree-free message about getting hired at its corporate headquarters
▼ + stars: | 2023-11-01 | by ( Bob Woods | ) www.cnbc.com time to read: +10 min

"In prior years, people would pursue a cybersecurity college degree," Stomski said. At the same time, Wildavsky stressed that being dismissive about the value of a college degree is a mistake. "This is not about getting rid of college degrees," Stomski said, and she added that many of Walmart's corporate jobs will still require them. Examples of Walmart corporate roles that will not require college degrees including positions in operations and merchandising, but Stomski declined to be more specific. In August 2022, Walmart began eliminating around 200 corporate jobs as part of a restructuring effort amid a more challenging economic environment.

Persons: Terra, Stomski, We're, Lorraine Stomski, Julie Gehrki, Ben Wildavsky, Wildavsky, it's, —, OpenAI, We've, Colleen Ammerman, Walmart's Organizations: Walmart, Walmart Inc, Terra Fondriest, Bloomberg, Getty, Target, Southern New Hampshire University, University of Arizona, University of Denver, Google, IBM, Tesla, GM, Accenture, University of Virginia, College, Marines, LinkedIn, Harvard Business School Locations: Bentonville , Arkansas, workforces, U.S, Minnesota

☆ Life in Ukraine's Zaporizhzhia oblast, from an expert who just visited the front lines
▼ + stars: | 2023-10-28 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +18 min

Ukrainian soldiers, go away." And there were Ukrainian soldiers chit-chatting with the older ladies there buying food. I spoke with Ukrainian soldiers in Zaporizhzhia. The same set of Ukrainian soldiers that's been serving has been serving for more than 600 days. When you talk to actual Ukrainians, they're not getting caught up in, "Is it Crimea?

Persons: Melinda Haring, Haring, —, It's, There's, Mykola Vinnichenko, Andrey Liscovich, it's, They're flinty, haven't, that's, there's, they're, What's, would've, I'm, Nobody, we've, Putin, let's, He'll, he'll, — you've, you've, Ukraine —, We're, They're Organizations: Atlantic Council, Service, Eurasia Center, Ukraine doesn't, NATO, CNN Locations: Zaporizhzhia, Ukraine, Orikhiv, Kyiv, Orkihiv, Washington, Eastern Europe, Central Asia, There's, Crimea, Russia, Poland, Baltic, United States, NATO, Taiwan

☆ Opinion | Israel: From the Six-Day War to the Six-Front War
▼ + stars: | 2023-10-25 | by ( Thomas L. Friedman | ) www.nytimes.com time to read: +12 min

Back then, Israel defeated the armies of three Arab states — Egypt, Syria and Jordan — in what became known as the Six-Day War. Today, if you look closely, you’ll see that Israel is now fighting the Six-Front War. But one thing is crystal clear to me: Israel cannot win this six-front war alone. This is the first Israeli government ever to make annexation of the West Bank a stated objective in its coalition agreement. Be advised: If Israel does invade Gaza, corporations everywhere will be facing competing demands from employees to denounce Israel or Hamas.

Persons: Israel, Jordan —, Israel —, Benjamin Netanyahu, Netanyahu, Jewish supremacists, we’ve, Ali Reza Zakani, Yossi Klein Halevi, what’s, Mahmoud Abbas, Joe Biden, Biden Organizations: West Bank, United, Palestinian Authority, Hamas, Wednesday, U.S, Israel, Eye Locations: Israel, Egypt, Syria, West, United States, Gaza, Eilat, Haifa, Jewish, Jerusalem, Aqsa, Saudi Arabia, Iran, Lebanon, Iraq, Yemen, U.S, Palestinian, East, Tehran, Lebanese, Baghdad, Damascus, Beirut, Sana, Times, Oslo

☆ Southern Italians stick with student life as jobs hard to find
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

Oct 12 (Reuters) - Southern Italians are studying more and for longer as a shortage of jobs forces many to either stay in school or relocate, a report by national statistics bureau ISTAT showed on Thursday. "The lack of stable and good quality job opportunities in the Mezzogiorno is nothing new, but the situation among "millennials" is getting worse", ISTAT said. "The current youth of the Mezzogiorno face a longer and more complicated journey towards adulthood," it added. "It is a paradox, but in the medium-long term, this could fuel a further deprivation of human capital with advanced skills, which is indispensable for the Mezzogiorno", ISTAT said. Southern youths are dissatisfied with their economic situation and almost three quarters of them still live with their parents.

Persons: Alessandro Parodi, Keith Weir Organizations: ISTAT, Thomson Locations: Southern, Sicily, Sardinia, Italy

☆ ‘AI is transformative for the geopolitical order,’ political scientist Ian Bremmer says
▼ + stars: | 2023-09-29 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Artificial Intelligence will have a significant impact on both geopolitics and globalization, according to Ian Bremmer, political scientist and president of the Eurasia Group. "I think that AI is transformative for the geopolitical order, both in good ways and in problematic ways," Bremmer told CNBC's Tania Bryer for "The CNBC Conversation." On the plus side, AI could drive "a new globalization," Bremmer said — at a time when questions about the state and future of globalization abound. "In other words, I'm an enthusiast about what this technology will do for the world," Bremmer said. For example, anyone can use AI to write code, but it can also be used to hack into systems or create malware, Bremmer pointed out.

Persons: Ian Bremmer, Bremmer, CNBC's Tania Bryer, —, We're Organizations: Intelligence, Eurasia Group, CNBC

☆ More Companies Are Disclosing Their ESG Data, but Confusion on How Persists
▼ + stars: | 2023-09-21 | by ( David Breg | ) www.wsj.com time to read: +6 min

The proportion of companies disclosing sustainability and ESG information was 63%, up from 56% last year. Breaking that down, a quarter of private companies don’t plan any ESG reporting, while only 7% of public companies felt the same. Six percent said they don’t yet report, but plan to, while another 7% don’t plan to. The picture looks quite different for private companies: 45% don’t report ESG information and more than half of those don’t plan to. The sustainability information respondents were most likely to publish was for employee diversity, equity and inclusion, at 47%.

Persons: Thomas R, ”, Maria Ghazal, David Breg Organizations: Street Journal, Regulators, U.S . Securities, Exchange, Sustainability, Board, Business, Nations, Global Reporting, Task Force, Business Roundtable’s, david.breg@wsj.com Locations: U.S

☆ As Hollywood strikes press on, Wall Street weighs in on the outlook for TV, streaming stocks
▼ + stars: | 2023-09-19 | by ( Samantha Subin | ) www.cnbc.com time to read: +10 min

At the same time, legacy media companies face off against another well-known demon: cord-cutting. Technology companies such as Apple and Amazon can lean on their respective hardware and e-commerce businesses, said Paul Fanelli, a research analyst at Gabelli Funds. Even so, Wall Street sees only a handful of pure-play winners in the TV and streaming space winning consumer attention over the long run. Already, the technology companies have shown some promise. Consumers are increasingly forgoing pay TV packages from cable companies and opting for bundles from companies like Alphabet, he said.

Persons: Rosenblatt, Barton Crockett, It's, Netflix's, Ken Leon, Hollywood's, Leon, Jamie Lumley, Paul Fanelli, it's, Apple's, Amazon's, That's, Needham, Laura Martin, Martin, —, John Hodulik, CNBC's, bode, Crockett, NBCUniversal's Peacock, Brandon Nispel, Nispel, Disney's hasn't, Fanelli, that's Organizations: Netflix, Apple, Paramount, Sky, Third, Gabelli, Warner, UBS, ESPN, Fox, NFL, Hulu, YouTube, KeyBanc, Comcast, Disney, Warner Bros, Max, DIS, Rosenblatt, ABC, Nexstar, CNBC Locations: France, United Kingdom

☆ What Happens When Global Human Population Peaks? - The New York Times
▼ + stars: | 2023-09-18 | by ( Dean Spears | ) www.nytimes.com time to read: +13 min

Over the past 100 years, the global population quadrupled, from two billion to eight billion. Some will inexcusably claim that restricting reproductive choice is a way to curb long-run population decline. If an inclusive, compassionate response to population decline emerges someday, it need not be in conflict with those values. It’s in no one’s hands to change global population trajectories alone. Six decades from now is when the U.N. projects the size of the world population will peak.

Persons: demographers, Wittgenstein, Spears, Grandma, humanity’s, They’ve, birthrates, everyone’s, It’s, it’s Organizations: Human, The Institute for Health Metrics, University of Washington, University of Texas, Population Research, New York Times, White, won’t Locations: Vienna, Austin, United States, Europe, East Asia, Latin America, Guinea, Africa, China, Brazil, India, birthrates, Chile, Thailand, Canada, Germany, Japan, Saharan Africa, Israel

☆ Lowe's CEO says the 'greatest deterrent' for retail theft is hiring and training workers
▼ + stars: | 2023-09-15 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Incidents of retail theft appear to be rising, but some companies are managing to avoid the trend. Although Lowe's has reported an increase in inventory shrink, it's not expected to hurt profits. CEO Marvin Ellison attributed low theft rates to investing in the company's workers. But unlike dozens of other retail executives, Lowe's CEO Marvin Ellison says the losses from retail theft this year are not expected to have a material impact on the company's profits. Lowe's CEO Marvin Ellison says the home improvement chain's low inventory shrink rate is "not by accident."

Persons: Lowe's, Marvin Ellison, Ellison, David Swanson, they've Organizations: Service, CNBC, Tractor Supply Locations: Wall, Silicon

Peter Orszag, incoming CEO of financial advisory Lazard, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsNEW YORK, Sept 14 (Reuters) - Two weeks before Peter Orszag takes the helm as CEO of Lazard (LAZ.N), he is already setting an ambitious goal for the investment bank to double its revenue by 2030. Orszag outlined his plans for the 175-year-old firm in a memo to employees on Thursday, including a raft of personnel changes. The revenue aspirations are being locked in at a time when sluggish dealmaking has weighed on earnings and prompted Lazard to eliminate 10% of its workforce. Boosting revenue in asset management will require better distribution, improved investment performance and potentially an acquisition, Orszag wrote in the memo.

Persons: Peter Orszag, Lazard, Mike Blake, ”, Orszag, Alexandra Soto, Chris Weideman, Lananh Nguyen, Varun Organizations: Milken, Global Conference, REUTERS, Lazard, Reuters, Apollo Asset Management, U.S, Thomson Locations: Beverly Hills , California, U.S, Europe, East, Africa

☆ Oracle stock suffers steepest drop since 2002 on weak revenue guidance
▼ + stars: | 2023-09-12 | by ( Ari Levy | ) www.cnbc.com time to read: +2 min

Oracle shares plummeted 12% on Tuesday, their steepest drop in over two decades, after the software maker reported disappointing revenue and issued weaker-than-expected guidance. For the current quarter, Oracle said revenue will increase 5% to 7%, falling short of the 8% average analyst estimate. Revenue in Oracle's cloud services and license support segment rose 13% from a year earlier, topping StreetAccount's consensus of $9.44 billion. But sales in the cloud license and on-premises license segment fell 10% to $809 million, missing estimates. Even with Tuesday's stock drop, Oracle shares are up 34% year to date, beating the S&P 500, which is up 16%.

Persons: Larry Ellison, Ellison, Jeff Bezos, Warren Buffett, Stifel, Safra Catz, Catz, — CNBC's Jordan Novet Organizations: Oracle, Forbes, Amazon, Human Capital Management Software, Revenue

☆ Oracle comes up short on revenue but touts AI cloud contracts
▼ + stars: | 2023-09-11 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Larry Ellison, Oracle's chairman and technology chief, speaks at the Oracle OpenWorld conference in San Francisco on September 16, 2019. Here's how the company did:Earnings: $1.19 per share, adjusted, vs. $1.15 per share as expected by analysts, according to LSEG. Oracle's revenue grew 9% year over year in the fiscal first quarter that ended Aug. 31, according to a statement. "As of today, AI development companies have signed contracts to purchase more than $4 billion of capacity in Oracle's Gen2 Cloud. During the quarter, Oracle announced new database hardware, Micros point-of-sale workstations and artificial intelligence features in its Fusion Cloud Human Capital Management software.

Persons: Larry Ellison, LSEG, Safra, StreetAccount, Ellison, Elon Musk's, Jefferies, Brent Thill Organizations: Oracle, Cerner, Google, Microsoft, Human Capital Management Locations: San Francisco, LSEG

☆ Hun Sen's son aims to make Cambodia high-income country by 2050
▼ + stars: | 2023-09-04 | by ( Kate Lamb | ) www.reuters.com time to read: +2 min

Cambodia’s Prime Minister Hun Manet attends an event to meet with garment workers on his first public appearance since taking office, on the outskirts of Phnom Penh, Cambodia, August 29, 2023. The 45-year-old last month took over power from his father Hun Sen after a lopsided general election that all opposition parties were barred from contesting. In a country once riven by decades of war, Cambodia has now evolved to a lower-middle income nation with economic growth rates of 7%, he said. Cambodia's parliament approved Hun Manet as prime minister in August. Hun Sen, one of the world's longest ruling leaders, has said he expects his son to continue his leadership style and will himself remain in politics.

Persons: Hun Manet, Cindy Liu, Monday, Hun Sen, Kate Lamb, Kanupriya Kapoor, Nick Macfie Organizations: Cambodia’s, REUTERS, Rights, Cambodian, Association of Southeast Asian Nations, ASEAN, United Nations, Thomson Locations: Phnom Penh, Cambodia, Rights JAKARTA, Cambodia's

☆ Goldman Sachs exec reveals No. 1 productivity hack that saves her 'hours' in her day
▼ + stars: | 2023-09-04 | by ( Morgan Smith | ) www.cnbc.com time to read: +1 min

Being an executive at one of Wall Street's most powerful firms — and a mother of five — requires patience, grit and impeccable time management. Shekhinah Bass started working at Goldman Sachs when she was just 22 years old, and says sharpening her time management skills has helped her be more productive and avoid burnout as she rose in the ranks at the firm. The 39-year-old is now Goldman Sachs' head of talent strategy within the firm's human capital management division. The longer Bass has worked at Goldman Sachs, the more she's realized that you can only achieve work-life balance "if you're deliberate and proactive about how you set boundaries," she says. There's one time management hack, in particular, that Bass swears by to maintain a strong work-life balance: timeboxing.

Persons: Shekhinah Bass, Goldman Sachs, Bass Organizations: CNBC

☆ It's important to be clear about the 'why' when mandating in-office work, says Medley's Edith Cooper
▼ + stars: | 2023-08-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's important to be clear about the 'why' when mandating in-office work, says Medley's Edith CooperEdith Cooper, Medley co-founder and former Goldman Sachs head of human capital management, joins 'Squawk Box' to discuss the future of work and mandating in-office work amidst a growing disconnect between remote workers and their companies, adapting to hybrid work and navigating the new normal, and more.

Persons: Edith Cooper Edith Cooper, Goldman Sachs

Here are some details of the impact:* DEATHThe war has caused death on a level not seen in Europe since World War Two. The war has left nearly 500,000 troops either dead or injured, according to the New York Times. Russian Defence Minister Sergei Shoigu said on Sept. 21 that 5,937 Russian soldiers had been killed since the start of the war. When added to Crimea, which Russia annexed from Ukraine in 2014, Russia now controls about 17.5% of Ukraine, an area of about 41,000 square miles (106,000 square km). Shortly after Russia's invasion of Ukraine, international oil prices spiked to their highest levels since the records of 2008.

Persons: Chasiv Yar, Violeta Santos Moura, Sergei Shoigu, Julie Kozack, William Burns, Putin, Guy Faulconbridge, Philippa Fletcher Organizations: REUTERS, United Nations, Human Rights, New York Times, Russian, Reuters, Belfer, Harvard Kennedy School, International Monetary Fund, CIA, European Union, Kiel Institute, Thomson Locations: Chasiv, Ukraine, Donetsk, Europe, United States, Ukraine's, Russia, Crimea, Russian, UNHCR, UKRAINE Russia, Massachusetts , New Hampshire, Connecticut, wastelands, RUSSIA, Moscow, China, Saudi Arabia, Britain, Germany, Japan

☆ Goldman Sachs exec: The No. 1 soft skill successful people use to get ahead at work—and how to develop it
▼ + stars: | 2023-08-16 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

Shekhinah Bass cut her teeth — and built her career — at one of the most competitive, powerful firms on Wall Street: Goldman Sachs. The most important soft skill that distinguishes high performers at Goldman Sachs, and propels people to successful careers on Wall Street at large, she's discovered, isn't creative dealmaking or a confident attitude — it's having a growth mindset. Coined by psychologist Carol Dweck, a growth mindset is when you see your abilities, talent and knowledge as skills you can continue to grow and improve upon. In the workplace, Bass says, you can measure your growth mindset based on how you respond to feedback from your manager and co-workers. "With a growth mindset, you will see those blind spots as things that are within your control to improve."

Persons: Shekhinah Bass, —, Goldman Sachs, she's, Carol Dweck, it's, Dweck, Bass, It's, Warren Buffett Organizations: Wall, CNBC

☆ I came out as trans while at Goldman Sachs. Here are 5 things I learned that can help make workplaces more welcoming for transgender people.
▼ + stars: | 2023-08-14 | by ( Maeve Duvally | ) www.businessinsider.com time to read: +7 min

Maeve DuVally worked in communications at Goldman Sachs when she came out to colleagues as transgender in 2019. To make your workplace more welcoming for transgender people, show kindness and don't be afraid to ask questions. I'm a frequent public speaker, and inevitably one of the questions I get asked is what can be done to make workplaces more welcoming for transgender people. When I came out in 2019 at Goldman Sachs, I was wildly excited, but I was also petrified. Armed with additional information, you might then ask more specifically and in a more educated way how you could help.

Persons: Maeve DuVally, Goldman Sachs, I'm, I've, —, It's, Human Capital Management — Organizations: Girl Scouts, Goldman's, Human Capital Management Locations: Greater New York

☆ Exclusive: Biden taps Jackson for economic adviser, signals focus on education
▼ + stars: | 2023-08-11 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +3 min

U.S. President Joe Biden delivers remarks on veterans' care at George E. Wahlen Department of Veterans Affairs Medical Center in Salt Lake City, Utah, U.S. August 10, 2023. REUTERS/Jonathan Ernst/File PhotoWASHINGTON, Aug 11 (Reuters) - U.S. President Joe Biden is tapping C. Kirabo Jackson, a labor economist whose research advocates robust public spending on schools, to fill out his three-member Council of Economic Advisers (CEA), according to a White House official. The selection suggests public education will be a key area of focus for Biden's brain-trust ahead of a 2024 re-election bid expected to turn on the strength of the economy. Jackson's pick also comes as the Biden administration is thinking through how to boost lagging educational performance since the COVID-19 pandemic. Reporting by Trevor Hunnicutt; Editing by Heather Timmons and Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, George E, Jonathan Ernst, Kirabo Jackson, Jackson, Biden, Jackson's, Cecilia Rouse, Trevor Hunnicutt, Heather Timmons, Andrea Ricci Organizations: George, Wahlen Department of Veterans Affairs Medical, REUTERS, Economic Advisers, White, Northwestern University, Princeton University, CEA, Thomson Locations: Salt Lake City , Utah, U.S

☆ Russia targets neighbour Kazakhstan with army recruitment ads
▼ + stars: | 2023-08-03 | by ( Filipp Lebedev | ) www.reuters.com time to read: +2 min

Kazakhstan, a former Soviet republic bordering Russia, is home to over 3 million ethnic Russians and has traditionally been one of Russia's closest allies. Clearly targeting Kazakhs, ads seen by Reuters feature Russian and Kazakh flags and the slogan "Shoulder to shoulder". The ads lead to a website that offers potential recruits a chance to join the Russian army in the Sakhalin region in Russia's Far East. Joining military conflicts abroad for pay is illegal under Kazakh law. In Kyrgyzstan, a local man was sentenced to 10 years in prison in May for joining Russian proxy forces in Ukraine's Luhansk region.

Persons: Russia's, Wagner, Mariya Gordeyeva, Gareth Jones Organizations: Russian, Astana, Moscow, Reuters, Human Capital Development Agency of, Kazakhstan's Ministry of Information, Social Development, Soviet Central, Thomson Locations: Kazakhstan, Soviet, Russia, Ukraine, Kazakh, Russian, Sakhalin, Russia's Far, Lysychansk, Tajikistan, Kyrgyzstan, Ukraine's Luhansk, Moscow, Bishkek

☆ New York City pension chief urges pay clawbacks at Bank of America
▼ + stars: | 2023-07-18 | by ( Ross Kerber | ) www.reuters.com time to read: +2 min

Since the financial crisis of 2008, provisions to recover pay have been strengthened at top U.S. banks to limit risk-taking. Bank of America did not admit wrongdoing in its July 11 agreements with the Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency. Lander oversees public-employee pension funds with some $300 million worth of Bank of America (BAC.N) stock. It said Bank of America charged multiple fees to customers who did not have enough funds in their accounts from February 2018 until February 2022. The bank said it voluntarily reduced overdraft fees and eliminated all nonsufficient fund fees in 2022.

Persons: Brad Lander, Lander, Wells, Michael Garland, Ross Kerber, Matthew Lewis Organizations: New York, of America's, Bank of America, Consumer Financial Protection Bureau, Reuters, Bank of, Human, of America, Thomson Locations: New, Charlotte , North Carolina, Reuters , New York City, New York City, Boston

☆ The AI boom is screwing over Gen Z
▼ + stars: | 2023-07-17 | by ( Ed Zitron | ) www.businessinsider.com time to read: +13 min

Now, with the advent of generative AI, organizations are starting to automate many "junior" tasks — stripping away their dubious last attempt to "teach" young employees. America's young workers are headed toward a career calamity. Nobody wants to teach anymoreEven before the rise of AI, young people were facing an early-career crisis. This lack of care is clearly weighing on the young workers who need career development the most. Humans can be enhanced by AI, helped by AI, but replacing them with AI is a shortsighted decision made by myopic bean counters who can't see the value in a person.

Persons: there's, Gen, Gen Zers, it's, Gen Z, Louis, Zers, millennials, Peter Cappelli, Capelli, Paul Osterman, they'd, Osterman, they'll, ChatGPT, Qualtrics, What's, they're, Ulrich Atz, Tensie Whelan, New York University's, Atz, Whelan, —, There's, Knight, It's, Ed Zitron Organizations: Management, Federal Reserve Bank of St, National Association of Colleges, Employers, University of Pennsylvania's Wharton School of Business, US Department of Labor, MIT, Pew Research Center, National Bureau of Economic Research, Gallup, Workplace Intelligence, Amazon, Boston Consulting Group, New York, New York University's Stern Center, Sustainable Business Locations: America, New, Fortune

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