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☆ I landed a job with a 'magic circle' law firm but still went all out to get an internship at a US bank. It was the best use of my last summer in college — here's why.
▼ + stars: | 2024-10-29 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +5 min

Adrian Teh secured a job offer with a top UK law firm in August 2023, two years before graduating. But that wasn't the case for me — I was also in the running for a summer internship with a US bulge bracket bank. I secured that investment banking internship as well. Adrian TehSpending my summer interning gave me a better sense of what I wanted to do. AdvertisementIn comparison, I thought working in a law firm offered relatively fewer exit opportunities.

Persons: Adrian Teh, Teh, —, interning, I'm Organizations: Service, Singapore Management University, Bankers Locations: Singapore

☆ Asia's governments seem to think declining birth rates have to do just with dating and sex. That's not the full story.
▼ + stars: | 2024-07-29 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +9 min

AdvertisementDeclining birth rates have been a huge bugbear for Asian countries like Japan and South Korea. Vanessa LeeLee, who owns two dogs and a cat, said that governments may be overestimating the effectiveness of one-off interventions in bolstering birth rates. AdvertisementShe added that a shift in societal mindsets toward work and family needs to occur for her peers to consider having children. But it also doesn't guarantee that having sex brings children and that not having sex is the only reason why people are not having children," Gietel-Basten said. Low birth rates, according to HKUST's Gietel-Basten, are a "barometer of the challenges in society" and should thus be seen as "symptoms of problems in a society."

Persons: —, Vanessa Lee, Lee, Elon Musk, Paulin Straughan, Poh Lin Tan, Tan, Jonas Hue, Vanessa Lee Lee, It's, Emily Huang, Stuart Gietel, Basten, SMU's Straughan, Straughan, HKUST's, we're Organizations: Service, Business, Internal, Ministry, Asahi Shimbun, South, Singapore Management University, Singapore's Institute of Policy, Nordic, Hong Kong University of Science, Technology Locations: Singapore, Japan, South Korea, Korea, Tokyo, Seoul, Sweden, Finland, Hong Kong, Basten

☆ Finance jobs are more competitive than ever, so some college students are sitting for the industry's most grueling exam before they even graduate
▼ + stars: | 2024-07-15 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

About one in five people who start the CFA process are students, Rob Langrick, chief product advocate at the CFA Institute, told Business Insider. The increase in college students starting the CFA process comes as fewer people overall are taking the exams. CFA Level I sign-ups first dropped in late 2020, given pandemic-induced cancellations and exam deferments. Related storiesIn 2018 and 2019, an average of about 162,000 people took the Level I exam each year. He thought his economics degree didn't cover enough applied finance for the kinds of jobs he wanted to do.

Persons: —, Rob Langrick, Langrick, Eric Wye, Wye, hasn't, shubhangigoel@insider.com Organizations: Service, Chartered Financial, Institute, CFA, Business, CFA Institute, National University of Singapore, Singapore Management University Locations: Wye

☆ Singapore law professor discusses biggest challenges the country's new prime minister will face
▼ + stars: | 2024-05-15 | 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 EmailSingapore law professor discusses biggest challenges the country's new prime minister will faceEugene Tan, associate professor of law at Singapore Management University, discusses the issues that incoming Singapore Prime Minister Lawrence Wong will have to address. Wong will be sworn in on Wednesday.

Persons: Eugene Tan, Lawrence Wong, Wong Organizations: Singapore, Singapore Management University

☆ Meet the students stacking internships and battling each other to get a foot in Goldman Sachs' and JPMorgan's doors
▼ + stars: | 2024-05-13 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +8 min

All this, the business administration student says, is part of his quest to land a job with a big bank like Goldman Sachs or JPMorgan. Advertisement"I have to grind a lot for academics and then do internships on top of that," Loh said. Many Singapore students have adopted a similar playbook to Loh's, padding their résumés with stacks of internships in the hopes of landing a spot at a top bank. AdvertisementHussain ended up doing five internships throughout his college career, including stints at a hedge fund and a private bank. Tan is slated to join a top European bank as an investment banking analyst this summer.

Persons: —, Channon Loh, he's, Loh, Goldman Sachs, Mike Kemp, Eric Sim, Sim, It's, Adnan Hussain, Hussain, Adnan Hussain Adnan Hussain, you'll, Nicholas Tan, Tan, Duo Geng Goh, Goh, it's, Chi Ang, gunning, Ang, Adrian Choo, Choo Organizations: Service, National University of Singapore, NUS, JPMorgan, Business, Getty, Goldman, Harvard, Crazy Rich, UBS Investment Bank, BI, Singapore Management University, SMU, Students, Banking Locations: Singapore, Crazy

☆ ‘I am so scared of them now’: Burned from overspending, some ‘buy now, pay later’ users warn others away
▼ + stars: | 2024-03-30 | by ( J.J. Mccorvey | ) www.cnbc.com time to read: +8 min

But the $6,000 in BNPL loans she'd racked up over roughly two years felt frivolous, she said, especially because they're planning to buy their first home. Many are seeking cover from high credit card interest rates. After trimming her discretionary spending and sticking to home-cooked meals, she said she's been able to whittle down her BNPL debt to about $1,200. Klarna said it had responsible spending limits for its users, whose average outstanding balance is $150, compared to the more than $6,000 for credit card users. Baird, for her part, acknowledged BNPL services can make inflation and high interest rates feel "easier" for those who can keep their shopping impulses under control.

Persons: Tia Whiteside, Whiteside, she'd, Dyson, she's, Marcus, whittle, Ben Lourie, Lourie, aren't, I've, Amy Baird, Baird, Kevin Mahoney, Mahoney, —, Afterpay, Klarna, Sen, Sherrod Brown, Raphael Warnock, John Fetterman, Brown Organizations: LexisNexis, Solutions, University of California, UC Irvine, Singapore Management University, PayPal, Consumer Financial Protection Bureau, Financial, D.C, Sens, NBC News Locations: Greenville , South Carolina, Irvine, Stanford, Dallas, Washington, Ohio

☆ Eva Mendes and Ryan Gosling had a 'non-verbal agreement' about who stays home with the kids. That's probably not going to work for you, experts say.
▼ + stars: | 2024-03-28 | by ( Amanda Goh | ) www.businessinsider.com time to read: +5 min

Read previewEva Mendes says she and Ryan Gosling had a "non-verbal agreement" that she would step back from her acting career to stay at home with their children when they decided to have kids. Mendes and Gosling started dating in 2011 after meeting on set while filming "The Place Beyond the Pines." "It was almost just like a non-verbal agreement that it was like, 'Ok, he's going to work and I'm going to work, I'm just going to work here,'" Mendes said. "First of all, it's very likely Eva Mendes and Ryan Gosling reached the agreement based on a fair, egalitarian discussion and decision-making," she said. Every couple is differentHowever, not everyone can afford to be like Mendes and Gosling, and have one partner focus almost entirely on raising kids.

Persons: —, Eva Mendes, Ryan Gosling, " Mendes, Mendes, Gosling, They've, Esmeralda, I'm, Mendes hasn't, doesn't, Mu Zheng, Eva, Ryan, Amie Leadingham, Leadingham, Kenneth Tan, Tan, it's Organizations: Service, Business, Variety, National University of Singapore, Singapore Management University

☆ From disappointment to the Olympic dream, Singapore's sprint queen is 'ready' for the next challenge
▼ + stars: | 2024-03-12 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +2 min

Singapore's Shanti Pereira of Singapore celebrates winning the women's 200m final athletics event during the 19th Asian Games at Hangzhou Olympic Sports Centre on Oct. 2, 2023. The 28-year-old track-and-field athlete — often referred to as Singapore's sprint queen — brought home a gold in the women's 200-meter race and silver in the 100-meter race at the Asian Games. As a result, she could not progress beyond the Asian Games heats that year. Three weeks before the Southeast Asian Games, she finally snapped out of that downward spiral. The same year, Pereira broke the national record in the 100-m sprint six times and 200-m race four times.

Persons: Singapore's Shanti Pereira, Shanti Pereira, —, Pereira Organizations: Singapore, Hangzhou Olympic Sports, Asian, Paris Olympics, CNBC, Games, Sports Excellence, Singapore Management University's, Southeast Asian Games Locations: Singapore, U.S

☆ Singapore transport minister resigns after being charged with corruption in a first for the city state
▼ + stars: | 2024-01-18 | by ( Heather Chen | ) edition.cnn.com time to read: +3 min

CNN —Singapore’s Transport Minister S. Iswaran has resigned after being charged with corruption on Thursday, the prime minister’s office said, confirming a historic development for a city state that prides itself on having a squeaky-clean government. The charges against Iswaran are part of the biggest corruption probe to engulf Singapore’s ruling People’s Action Party (PAP) in decades. Singapore’s anti-graft agency, the Corrupt Practices Investigation Bureau (CPIB), which reports directly to Prime Minister Lee Hsien Loong, has been leading investigations into Iswaran’s case. Lee is the eldest son of Lee Kuan Yew, Singapore’s first prime minister and founding father. The corruption probe into Ong and Iswaran comes at a sensitive time for Lee as he plans to step aside after nearly 20 years leading the country.

Persons: Iswaran, Tan Kiat Pheng, Ong Beng Seng, Ong, Lee Hsien Loong, Lee, ” Lee, Lee Kuan Yew, Singapore’s, ” Eugene Tan, ” Organizations: CNN, Singapore’s, Iswaran, Action Party, Singapore, Prix, Practices, Party, Government, Ong, Singapore Management University Locations: Singapore

☆ From livestreaming to 'shoppertainment,' Gen Zers lead the way in Singapore's online shopping space
▼ + stars: | 2024-01-15 | by ( Audrey Wan | ) www.cnbc.com time to read: +5 min

Logos of online social media and social networking sites displayed on a smartphone screen on August 01, 2023 in Bath, England. Many social media sites have introduced e-commerce features on their platforms, providing an alternative to popular online shopping sites like Lazada and Shopee. For example, users can purchase directly from TikTok shop or Facebook Marketplace without navigating outside of the application. Creators promoting products can also appeal to Gen Zers' preference for credibility by using livestreaming functions on social media platforms. As Gen Zers are digitally savvy, they rely a lot on social media nano-influencers to guide their purchasing decisions, he said.

Persons: Matt Cardy, Zers, Gen Zers, TikTok, Lawrence Loh, Tracy Loh, Wu Zu, Wu, Loh, millennials, Gen, SMU's Loh, Cristiano Ronaldo, Gen Zs Organizations: Getty, SINGAPORE, Meta, Bain & Company, Research, Social, Facebook, National University of Singapore's, Business, Singapore Management University, SMU, NUS, National University of Singapore Business, CNBC Locations: Bath, England, Singapore, Zers, Southeast Asia

☆ I'm a 24-year-old straight-A student who has been obsessed with buses since childhood. I skipped college to work my dream job.
▼ + stars: | 2023-11-07 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +6 min

The straight-A student said it's a misconception that working with buses is a dead-end job. AdvertisementAdvertisementThis as-told-to essay is based on a conversation with Matthew Tay, an operations supervisor in Singapore for Tower Transit, a local bus company. When I was older, I joined a 400-member Facebook group called "Singapore bus enthusiasts." Now I'm the behind-the-scenes guy who keeps things runningAs an operations supervisor, I work in shifts. AdvertisementAdvertisementAs an operations supervisor, I'm comfortable with the salary I make and don't feel like I'm under financial pressure.

Persons: acceptances, Matthew Tay, —, I've, Singapore Management University —, It's, Tay, Transit Matthew Tay, I'm Organizations: Service, Tower Transit, Facebook, National University of Singapore, Nanyang Technological University, Singapore Management University, Transit Locations: Singapore, Hougang, Tuas, Tower Transit Singapore, there's

☆ Meet the warrior interns: College students hell-bent on winning the CV arms race, who'll stack all the jobs they can to make their resumes shine
▼ + stars: | 2023-09-10 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +11 min

This is becoming a rite of passage for those who want good jobs, one career counselor told Insider. Advertisement Advertisement Watch:Singaporean undergraduate Amelia Yamato Leow told Insider that she started interning right after secondary school. Ong told Insider she's done an internship every summer break, and has worked during the college semester, too. You see from the inside how things work, and how people work, and most importantly, you can build rapport," Chin told Insider. This is especially so for complex industries like banking, Ted Teo, an adjunct assistant professor at the National University of Singapore, told Insider.

Persons: Amelia Yamato Leow, hasn't, who's, Leow, she's, Nicole Ong, Ong, you've, Justin Chin, Chin, Eddie Phua, Phua, Gao, Xinrui Gao Xinrui Gao, it's, Adrian Teh, Teh, they'll, Megan Wong, Wong, Sim Cher Young, Sim, Adrian Choo, Ted Teo, Teo, Goldman Sachs, Shaw, Singapore Management University's Sim, International's Choo Organizations: Service, National University of Singapore, PayPal, NUS, National University of Singapore Business, NUS Business School, Nanyang Technological University, Singapore Management University, LinkedIn, Citadel, Harvard, Singapore Management Locations: Singapore, Wall, Silicon, fintech

☆ Singapore braces for 'partisan' vote for president, guardian of its vast reserves
▼ + stars: | 2023-08-30 | by ( Clement Tan | ) www.cnbc.com time to read: +8 min

Presidential candidate Tan Kin Lian (left) waves as he arrives at the nomination center for the presidential election in Singapore on August 22, 2023. Song is standing in the city-state's 2023 presidential election. Presidential candidate Tharman Shanmugaratnam waves to his supporters at the nomination center for the upcoming presidential election in Singapore on Aug. 22, 2023. Xinhua News Agency | Xinhua News Agency | Getty ImagesThe full scale of Singapore's reserves is not publicly available, though public information of some institutions charged with investing its reserves offer a glimpse into the size of the reserves. Local independent news outlet Jom estimated that only 0.044% of Singaporean adults qualify to run as Singapore president.

Persons: —, incorruptibility, Eugene Tan, Tan Kin Lian, Roslan Rahman, Tan, Ng Kok, Lee Kuan Yew, Tharman, Ng, Shanmugaratnam, Tan Meng, Singapore's, Lee Kuan, Kevin Tan, Cherian, Halimah Yacob —, Cherian George, who's Organizations: Getty, SINGAPORE, Observers, Singapore Management University, NTUC, Afp, Monetary Fund, Party, CNBC, Bloomberg, Presidential Advisors, Xinhua News Agency, Temasek, Singapore, Monetary Authority of, Cherian George National University of Singapore, Hong Kong Baptist University, Malay, National University of Singapore, Hong, Hong Kong Baptist University's School of Communication Locations: Singapore's Marina Bay, Singapore, State, Monetary Authority of Singapore, Hong, Hong Kong

A few years ago, China cracked down on video games. Then, it imposed limits on livestreaming by children. Now China wants them to spend less time on their smartphones. The country’s internet regulator this week proposed regulations that if adopted as written would require smartphones, apps and app stores to build a “minor mode” into their products. The aim is to restrict how long children can spend on their phones and what content they can read or watch.

Persons: ”, Sun Lim Organizations: Singapore Management University Locations: China

☆ China curbs drone exports over ‘national security concerns’
▼ + stars: | 2023-08-01 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —China will place export controls on drone and drone equipment in order to “safeguard national security and interests,” its commerce ministry announced Monday, in a move that could impact the war in Ukraine. The restrictions on equipment will require vendors to seek permission to export certain drone engines, lasers, imaging, communications and radar gear, and anti-drone systems. China exports drones to several markets, including the United States, and has a sizable domestic drone manufacturing industry. China has also imposed restrictions on the basis of national security in recent years, “especially since the US-China trade war,” he said. Beijing last month imposed export controls on two elements essential for manufacturing semiconductors.

Persons: “, China “, Russia ”, Moscow “, ”, Antony Blinken, Washington, Henry Gao, ” Gao, DJI Organizations: Hong Kong CNN, CNN, Mugin, US, National Intelligence, China’s, Ministry, Commerce Ministry, ” Export, Singapore Management University, China Locations: Hong Kong, China, Ukraine, Russia, Moscow, Taobao, United States, People’s Republic of China, Beijing, ”, Washington, Shenzhen, Xinjiang

China's application, by far the biggest economy, is next in line if they are dealt with in the order they were received, although that is not a given. The free trade agreement has its roots in the U.S.-backed Trans-Pacific Partnership, developed in part to counter China's growing economic dominance. I think that is completely wrong," Tim Groser, a former New Zealand trade minister and chief trade negotiator said. For CPTPP members, China's application is not the only political dilemma. Taiwan is also seeking to join the pact, in a move opposed by China that member trade negotiators remain unsure about.

Persons: Chris Hipkins, Shigeyuki Goto, Damien O’Connor, Trade Kemi, Damien O'Connor, Donald Trump, Henry Gao, couldn't, Tim Groser, CPTPP, Graham Zebedee, Britain's, New Zealand Wang Xiaolong, Hopes, Wang Huiyao, Antony Blinken, Natalie Black, Lucy Craymer, Joe Cash, Jamie Freed Organizations: New Zealand, Economic, New, Trade, Export, State, Business, Malaysian, Beijing, Pacific, New Zealand's Trade, Pacific Partnership, Communist Party, Singapore Management University, Ministry of Foreign Affairs, World Trade Organization, Australia, Center for, Political, Comprehensive Economic, U.S, Asia Pacific, Thomson Locations: British, Trade Kemi Badenoch, Taiwan, AUCKLAND, BEIJING, China, Pacific, Britain, Auckland, Ukraine, Costa Rica, Uruguay, Ecuador, U.S, Japan, Australia, Canada, Beijing, New Zealand, SOEs, Mexico, Center for China, Wellington, Asia

☆ Singapore's 'squeaky clean' image takes a beating as scandals rock the government
▼ + stars: | 2023-07-19 | by ( Sumathi Bala | ) www.cnbc.com time to read: +7 min

watch nowOn Monday, Singapore's Prime Minister Lee Hsien Loong said he decided the incumbent speaker of the Singapore's Parliament Tan Chuan Jin "had to go." Lee Hsien Loong Singapore prime ministerSingaporeans, who are not used to political scandals, have taken to memes to express themselves. Singapore Prime Minister Lee Hsien Loong (L) shaking hands with a PAP supporter during a May election rally. SIMIN WANG | AFP | Getty ImagesThe prime minister sought to quickly control the damage, emphasizing the government's zero-tolerance on corruption to allay public concerns. The prime minister is seeking to hand over power to the next generation of leaders in the near future.

Persons: Lee Hsien Loong, Dr Koh Poh Koon, Ang Mo, Suhaimi Abdullah, Eugene Tan, Tan Ern Ser, Tan Chuan Jin, Tan, Cheng Li Hui, SMU's Tan, CNBC's, Ong Beng Seng, Felix Tan, NTU's Tan, SIMIN WANG, Lee Organizations: Action Party, Getty, Singapore Management University, CNBC, Party, National University of Singapore, Singapore's, Public Service, Nanyang Technological University, NUS, Singapore, AFP Locations: SINGAPORE, Singapore, Asia, Lee Hsien Loong Singapore

☆ Analyst discusses political scandals in Singapore
▼ + stars: | 2023-07-19 | 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 EmailSingapore scandals raise question of whether PAP has fallen short of its own high standards: AnalystEugene Tan, an associate professor of law at Singapore Management University, discusses the political scandals that the country's politicians, including those of its ruling party, are involved in.

Persons: Eugene Tan Organizations: Email Singapore, Singapore Management University

Hong Kong CNN —A corruption investigation in Singapore has expanded to include Ong Beng Seng, a hotel tycoon best known for bringing the Formula 1 Grand Prix to the wealthy city state. The agency had earlier launched an investigation into a case involving the transport minister, in a rare corruption probe involving a cabinet-level official. Ong’s company said he had posted bail of 100,000 Singapore dollars ($76,000) after being given a notice of arrest. Ong is also the sole shareholder of the Singapore Grand Prix, organizer of the marquee sporting event, his spokesperson confirmed to CNN. Rare caseThe news about Ong emerged just days after Prime Minister Lee Hsien Loong asked the transport minister to take a leave of absence.

Persons: Ong Beng Seng, Ong, “, Lee Hsien Loong, Iswaran, CPIB, Lee, Eugene Tan, Bernie Ecclestone, Hoch, Lawrence Wong, ” Organizations: Hong Kong CNN, Hotel Properties, Practices, Transport, Singapore, Prix, CNN, Singapore Management University, Party Locations: Hong Kong, Singapore, Properties, Maldives, Malaysia, London, Bangkok, Abu

☆ China's slow AI roll-out points to its tech sector's new regulatory reality
▼ + stars: | 2023-07-12 | by ( Josh Ye | ) www.reuters.com time to read: +6 min

[1/3] An AI (Artificial Intelligence) sign is seen at the World Artificial Intelligence Conference (WAIC) in Shanghai, China July 6, 2023. New rules Chinese firms have to comply with range from algorithm vetting to accepting security reviews of data they want to export. They definitely stifle the innovation and slow down the ability of Chinese firms to catch up." A key motivation behind China's reluctance to release AI chatbots is that Beijing fears uncensored chatbots may start influencing societal views in potentially subversive directions, said Mark Natkin, managing director of research firm Marbridge Consulting. "While the U.S. is racing ahead with AI, China is hitting the brakes with more rules."

Persons: Aly, HONG KONG, OpenAI's ChatGPT, Henry Gao, Ernie Bot, Robin Li, Shi, Mark Natkin, Heatherm Huang, Bard, Microsoft's Bing, Xi Jinping, Baidu, Josh Ye, Brenda Goh, Jamie Freed Organizations: Artificial Intelligence, REUTERS, China, Baidu, HK, Ant Group, Western, Singapore Management University, Microsoft, SenseChat, Nomura, Marbridge Consulting, Huawei Technologies, Thomson Locations: Shanghai, China, HONG, Beijing, Alibaba, Tencent, Hong Kong, U.S

☆ Analysis: China's slow AI roll-out points to its tech sector's new regulatory reality
▼ + stars: | 2023-07-12 | by ( Josh Ye | ) www.reuters.com time to read: +6 min

☆ Singapore has pledged billions to fight climate change. Experts say it's not enough
▼ + stars: | 2023-06-21 | by ( Nyshka Chandran | ) www.cnbc.com time to read: +5 min

Bloomberg | Bloomberg | Getty ImagesSingapore, a tiny city-state with an import-dependent economy, is especially vulnerable to rising sea levels, heat waves and other adverse effects of climate change. Around the globe, financing for climate adaptation has traditionally lagged behind mitigation investments that are focused on slowing or stopping the rise in fossil fuel emissions. Singapore's climate challengesIn 2019, Singapore prime minister Lee Hsien Loong said climate change was a matter of "life and death" for the city-state. An initiative of London's Imperial College and Singapore Management University, SGFC was launched in 2020 to advance climate financing solutions. In 2020, Vena Energy became the first Singapore-based company to issue green bonds in U.S. dollars with a $325 million five-year green bond aimed at refinancing existing corporate loans for green projects.

Persons: Xinying Tok, Lee Hsien Loong, Grace Fu, Emirhan Ilhan, SGFC, issuances, Vena Organizations: Bloomberg, Getty Images, Singapore, Carbon Trust, National University of Singapore Business School, Green Finance Institute, City State, Singapore Green Finance, London's Imperial College, Singapore Management University, Monetary Authority of, Insurance, Vena Energy, Resources Locations: Getty Images Singapore, Singapore, Southeast Asia, City, Monetary Authority of Singapore

☆ The whole world wants A.I. — and the market will deliver, Sam Altman says
▼ + stars: | 2023-06-13 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

The world is clamoring for artificial intelligence and the market will deliver, said OpenAI CEO Sam Altman on Tuesday on the Singapore stop of his world tour. "We've got sophisticated enough languages and also powerful enough computers that we could make AI bigger and bigger and bigger," Altman told business founders, tech executives, and the general public at the Singapore Management University. I think this is clearly what the world wants and the market will deliver." As such, Altman said that the company was focussing on making AI as affordable as possible. OpenAI has cut inference costs by 10 times once every three or so months by 10x, according to Altman.

Persons: Sam Altman, Altman, ChatGPT, OpenAI Organizations: Singapore Management University Locations: Singapore

☆ One in 5 young people in Chinese cities are out of work. Beijing wants them to work in the fields
▼ + stars: | 2023-04-30 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Guangdong, the manufacturing powerhouse that abuts Hong Kong, said last month it will help college graduates and young entrepreneurs to find work in villages. Guangdong’s plan, which was widely panned on social media, coincided with the rate of urban unemployment among 16- to 24-year-olds surging to 19.6%, the second highest level on record. Kong Yiji, a famous literary figure from the early 20th century, has been one of the hottest memes on China’s social media since February. A tourist shop named 'Kong Yiji' in China's Zhejiang province. Other popular buzzwords have included “lying flat” and “letting it rot.”Authorities, uneasy about dissatisfaction expressed through memes, have banned the hashtag of Kong Yiji.

☆ Artificial Intelligence is booming – but how will it impact your career?
▼ + stars: | 2023-02-20 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +3 min

Concepts such as augmented reality, artificial intelligence, smart cities, metaverse, post-humanism are expressed. Wang Yukun | Moment | Getty ImagesArtificial Intelligence is the latest technology buzz topic thanks to the boom of ChatGPT. Its capabilities have also put another topic at the forefront of people's minds: if, how and when artificial intelligence might impact their jobs and careers. The short answer to the question of whether AI will replace some jobs is a big, fat "yes." Developments in artificial intelligence mean that technology can achieve more and more, and that will, of course, impact jobs, Steven Miller, professor emeritus of information systems at Singapore Management University, says.

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