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☆ Google's old guard shifts roles as the company searches for itself
▼ + stars: | 2023-08-21 | by ( Jennifer Elias | ) www.cnbc.com time to read: +5 min

Jeff Kowalsky | Bloomberg | Getty ImagesA string of Google executives have changed their roles in the span of several months, in a shift that has sidelined many of company's remaining old guard. The changes encompass high-profile executives such as CFO Ruth Porat, YouTube CEO Susan Wojcicki, and employee No. Some say they have left their roles for a new challenge and others have left to seek opportunities in AI. While she'll still be in an advisory role at Google, she said, she wanted to "start a new chapter." Google's AI head, Jeff Dean, who's been at Google since 1999, became a chief scientist as part of the change.

Persons: Ruth Porat, Jeff Kowalsky, Susan Wojcicki, Urs Hölzle, Susan Wojcicki —, Sergey Brin, Larry Page, she'll, Robert Kyncl, David Lawee, Hölzle, Morgan Stanley, Porat, Courtenay Mencini, who've, it's, OpenAI, Sundar Pichai, Google execs, Prabhakar Raghavan, HJ Kim, Geoffrey Hinton, Demis, James Manyika, Jeff Dean, who's, It's Organizations: Inc, Michigan Central Station, Bloomberg, Getty, Google, YouTube, Warner Music Group, CapitalG, CNBC, New York Times, McKinsey, Google Research Locations: Detroit , Michigan, Silicon Valley

☆ Why startups are investing millions to make drugs and semiconductors in space
▼ + stars: | 2023-08-20 | by ( Magdalena Petrova | ) www.cnbc.com time to read: +4 min

Now, several space startups see an opportunity to satisfy in-space manufacturing demand using compact space factories. One company is Varda Space Industries in Southern California. Varda Space Industries' first pharmaceutical manufacturing satellite and reentry vehicle attached to a Rocket Lab Photon bus. Years of research have shown that protein crystals grown in space are much higher quality than those grown on Earth. Across the Atlantic in Cardiff, Wales, Space Forge is working on designing its own in-space factory to manufacture next-generation semiconductors.

Persons: Ilan Rozenkopf, Joe Biden, Varda, Asparouhov, we've, Andrew Parlock Organizations: pharma, McKinsey . Space, NASA, ISS, Varda Space Industries, Pfizer, Space Locations: vacuumless, Southern California, U.S, Cardiff , Wales, Space Forge's

☆ 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

☆ 5 major companies explain how they've designed their hybrid-work policies
▼ + stars: | 2023-08-13 | by ( Madison Hoff | ) www.businessinsider.com time to read: +9 min

Based on five companies' responses, hybrid work is thriving right now. The spokesperson noted that the company believes both hybrid work and flexibility aren't going anywhere. EYOutside of the tech sector, companies are also prioritizing hybrid work. Still, Giampietro noted the challenge of hybrid work for meeting with clients, as some of "those clients may not be in as frequently or may not want us in as frequently." Reach out to this reporter at mhoff@insider.com to share your story and how you feel about your company's current remote, hybrid, or in-person work policy.

Persons: Yahoo Finance's Daniel Howley, We've, Ryan Lamont, Lamont, we're, Fiona Cicconi, Chris Schmidt, Schmidt, Frank Giampietro, EY, Giampietro, McKinsey & Company Katy George, George Organizations: Microsoft, Service, Gallup, IBM, Google, Microsoft Microsoft, Yahoo, Google Google, Street, Alphabet Workers, Alphabet Workers Union, CWA, McKinsey & Company, McKinsey Locations: Wall, Silicon, New York City, Americas

☆ China loosens its pandemic-era ban on citizens joining group tours abroad
▼ + stars: | 2023-08-11 | by ( ) edition.cnn.com time to read: +4 min

CNN —China has lifted pandemic-era restrictions on group tours for more countries, including key markets such as the United States, Japan, South Korea and Australia, in a potential boon for their tourism industries. Prior to the pandemic, mainland Chinese tourists spent more than any other country’s tourists when abroad, clocking up a combined $255 billion in 2019 with group tours estimated to account for roughly 60% of that. Just how much outbound Chinese tourism will bounce back for the latest group of countries remains to be seen. “The opening of group travel from China to the U.S. is a significant milestone,” said Adam Burke, head of the Los Angeles Tourism and Convention Board. China has never publicly acknowledged limiting group tours to South Korea.

Persons: Gina Raimondo, –, Fumio Kishida, ”, Don Farrell, Steve Saxon, Adam Burke, “ Organizations: CNN, US Commerce Department, Japanese, Trade, Tourism, Weibo, McKinsey & Co, “, Los Angeles Tourism, Reuters Locations: China, United States, Japan, South Korea, Australia, Germany, Canada, Thailand, Russia, Cuba, Argentina, Nepal, France, Portugal, Brazil, Xinjiang, Los Angeles, U.S

Travellers walk past an installation in the shape of five stars, at Beijing Daxing International Airport in Beijing, China April 24, 2023. REUTERS/Tingshu Wang/file photoBEIJING, Aug 10 (Reuters) - China has lifted pandemic-era restrictions on group tours for more countries, including key markets such as the United States, Japan, South Korea and Australia in a potential boon for their tourism industries. Just how much outbound Chinese tourism will bounce back for the latest group of countries remains to be seen. Shares in firms in the latest group of countries with large exposure to Chinese travel demand jumped on the news. China has never publicly acknowledged limiting group tours to South Korea.

Persons: Tingshu Wang, Fumio Kishida, Don Farrell, Steve Saxon, Casey, Sophie Yu, Joyce Lee, Jamie Freed, Edwina Gibbs Organizations: Beijing Daxing International, REUTERS, Japanese, Trade, Tourism, Weibo, McKinsey & Co, South, Grand Korea, Reuters, Casey Hall, Thomson Locations: Beijing, China, BEIJING, United States, Japan, South Korea, Australia, Germany, Britain, Canada, Thailand, Russia, Cuba, Argentina, Nepal, France, Portugal, Brazil, Xinjiang, South Korean, U.S, Shanghai, Seoul

☆ CPI: Consumer prices rose by 3.2% annually in July, picking up for the first time in 13 months
▼ + stars: | 2023-08-10 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

Minneapolis CNN —For the first time in more than 12 months, the pace of consumer price hikes accelerated on an annual basis. The Consumer Price Index rose 3.2% for the year through July, up from June’s 3% annual increase, according to data released Thursday by the Bureau of Labor Statistics. Core CPI, which excludes the more volatile food and energy prices, increased 0.2% from June and was up 4.7% from the year-ago period. July is the the fourth consecutive month that annual core CPI has eased, and the 4.7% rate landed 0.1 percentage points below consensus expectations. Shelter prices rose 0.4% month on month and were up 7.7% for the year ending in July.

Persons: “ Don’t, ”, Julia Pollak, Joe Biden, ” Biden, “ We’ve, Kurt Rankin, Dow, “, Joe Brusuelas, Brusuelas, Tamara Charm, Brandon Bell, Danielle DiMartino Booth, DiMartino Booth, — CNN’s Elisabeth Buchwald Organizations: Minneapolis CNN —, Bureau of Labor Statistics, BLS, CPI, Federal Reserve, PNC, Nasdaq, RSM US, CNN, San, Services, “, McKinsey, Quill Intelligence, Federal Reserve Bank of Dallas Locations: Minneapolis, June’s, San Francisco, Austin , Texas

☆ High-powered satellites have made blue-carbon credits a reality. But they still face accuracy and scalability issues.
▼ + stars: | 2023-08-10 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +8 min

Breakthroughs in satellite technology have helped commercialize blue-carbon credits. Over $50 billion worth of carbon credits have been predicted to be traded annually in the voluntary market, according to McKinsey. Blue carbon, which is stored in coastal and marine ecosystems, has become an increasingly important asset in the fight against the climate crisis. Carbon credits can then be verified and issued faster. Satellite data has to be paired with sonar, divers collecting information, or other field data, she added.

Persons: Philip Davis, Guy Wolf, Oxford University spinout OxCarbon, it's, Wolf, David Gross, you've, Thomas Merriman, Donna Lyndsay, Traganos, It's, Kita's Merriman, Merriman, Zoë Balmforth, Cameron Frayling Organizations: McKinsey ., World Resources Institute, Tech, Oxford University, Bank OxCarbon, Kita, Ordnance Survey Locations: Bahamas, Caribbean, Islamorada , Florida

☆ Two-thirds of executives at US financial services firms would quit if they had to return to the office 5 days a week, survey finds
▼ + stars: | 2023-08-09 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +2 min

Executives at US financial firms say they would quit if they had to return to the office full-time. They want to work remotely but are worried that it will impact their careers negatively. Deloitte and Workplace Intelligence conducted a survey of 700 full-time executives at US financial services organizations in April 2023 to explore their attitudes around work arrangements including remote and hybrid work. It found that 66% of executives who worked remotely at least part of the week said they would quit if they were mandated to come back to the office full-time. Over half of executives say they're feeling pressured to go into the office more often.

Persons: they'd, they're, Goldman Sachs, Slack's, Cal Henderson Organizations: Service, Deloitte, Workplace Intelligence, Citigroup, McKinsey Locations: Wall, Silicon

☆ Newly Hired Consultants Are Getting Paid $175K to Do Nothing
▼ + stars: | 2023-08-09 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

New hires at some top consulting firms don't have enough work, The Wall Street Journal reported. MBA grads recruited into top consulting firms often earn sizable six figure salaries. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Those hired into consulting firms out of business school generally take home hefty six figure salaries. The impasse that new hires face comes as consulting firms have laid off swaths of their workforces over the past year.

Persons: grads, —, they're, Bain, Lakshmi Organizations: Street Journal, Service, Bain, Boston Consulting Group, McKinsey, Wall Street, Yale, Dartmouth, University of Virginia, — Bain Locations: Wall, Silicon, United States, Lakshmi Varanasi, lvaranasi

☆ I burned out at McKinsey and quit the elitist consulting lifestyle. The workload was mentally straining and I felt myself losing my humility.
▼ + stars: | 2023-08-09 | by ( Aria Yang | ) www.businessinsider.com time to read: +9 min

I was hired by McKinsey & Company as a business analystWhen I joined in 2016, my base salary was $80,000 plus an additional performance bonus. McKinsey provided a retirement program contribution of 7% of qualified compensation, and I also received a sign-on bonus of $5,000. The bonus was based on my performance after the first year, and it was calculated as a percentage of my base salary. Then in the following year, this bonus, combined with my base salary, was my new base for compensation. But I realized I was getting too used to this lifestyle, and I personally found myself losing humility and patience.

Persons: Angelina Lu, Lu, I'd, I've, you've, Aria Yang Organizations: McKinsey & Company, Service, McKinsey, Northwestern University, Northwestern, McKinsey — Locations: Wall, Silicon, client's, Chicago, Kenya

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

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

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

☆ The Tesla executive who was rumored to be next in line for CEO is leaving the company
▼ + stars: | 2023-08-07 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Tesla's CFO Zachary Kirkhorn is leaving the carmaker, the company said in a regulatory filing. Zachary Kirkhorn, Tesla's chief financial officer, is leaving the electric-car company after working for the electric-car maker for about 13 years. Tesla staff told the Journal that Kirkhorn won Musk's approval by leading with "bad news" and staying in the billionaire's shadow. Kirkhorn worked as an analyst at McKinsey & Company before joining Tesla and previously interned at Microsoft, his profile says. Kirkhorn, Musk, and a spokesperson for Tesla did not respond to a request for comment ahead of publication.

Persons: Zachary Kirkhorn, Elon, Kirkhorn, Vaibhav Taneja, Tesla, Kirhorn, Elon Musk, James Murdoch, Musk, Tim Cook, Steve Jobs, Jobs, Cook, Deepak Ahuja, Afshar Organizations: Street, Elon Musk's, Tesla, EV, Securities and Exchange Commission, LinkedIn, Street Journal, Musk's, Apple, McKinsey & Company, Microsoft, SpaceX

☆ New research finds that fully remote workers are less productive than their in-office counterparts
▼ + stars: | 2023-08-06 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

A new study looks at the productivity of remote workers versus those in-office. It showed that productivity dropped by 18% among a group of workers randomly assigned to WFH. More employers are pushing for workers to return to the office in a hybrid role or full-time. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Meanwhile, JPMorgan kickstarted a trend across Wall Street to instill a back-to-office mandate for its managing directors.

Persons: Michael Bloomberg Organizations: Service, National Bureau of Economic Research, Workers, McKinsey, Pew Research, NYC, Bloomberg, JPMorgan Locations: Wall, Silicon, Chennai

☆ Big Tech Rebounds and Preps for Transformative A.I. Investments
▼ + stars: | 2023-08-05 | by ( Tripp Mickle | More About Tripp Mickle | ) www.nytimes.com time to read: +1 min

In a call with investors on Thursday, Andy Jassy, Amazon’s chief executive, said work on generative A.I. And during recent calls with analysts, Google, Meta and Microsoft also said they would increase investments to support A.I. Generative A.I. The number of customers using Microsoft’s Azure OpenAI Service, a tool to build on the generative A.I. models developed by its partner OpenAI, has increased this year to more than 11,000, from 250.

Persons: Andy Jassy, Tim Cook, Stacy Rasgon, Bernstein, OpenAI, “ It’s, ”, Gavin Baker Organizations: Google, Meta, Microsoft, McKinsey, OpenAI, Management Locations: Boston

☆ Drought threatens major European river trade route with ripples across the continent
▼ + stars: | 2023-08-04 | by ( Lucy Handley | ) www.cnbc.com time to read: +3 min

Barges of coal at the inland harbor in Duisburg, on the river Rhine in Germany, on Thursday, July 20 2023. The river Rhine, an important trade route that runs through Germany via European cities to the port of Rotterdam, has become shallower at critical points. As water levels go down, a vessel's capacity reduces and shipping costs rise, with prices increasing as rivers become shallower. Water levels at Kaub are closely followed, and if they fall too low, vessels have to sail with reduced loads. Ben Kilb | Bloomberg | Getty ImagesFalling water levels can "significantly impair" manufacturing output, according to the Kiel Institute for the World Economy (IFW).

Persons: Ben Kilb, Lloyd, Tim Beckhoff, we've, Marc Schattenberg, Schattenberg, Beckhoff, Goarshausen Organizations: Bloomberg, Getty, Maersk, Hapag, McKinsey, CNBC, Deutsche Bank ., Deutsche Bank, Kiel Institute Locations: Duisburg, Germany, Europe, Rotterdam, Kaub, Frankfurt, Karlsruhe, St

☆ UK net-zero ‘pragmatism’ is an odd way to get real
▼ + stars: | 2023-08-04 | by ( George Hay | ) www.reuters.com time to read: +7 min

Yet official UK figures do not suggest the way to get real on climate change is to go any slower. Sunak himself has defended Britain’s record on climate and says he cares about reaching its 2050 net-zero target. As such the net cost of net zero may be more like 344 billion pounds over three decades, or perhaps only 0.4% of GDP per year. Policy certainty will meanwhile encourage foreign investors to help pay for Britain’s transition, reducing its exposure to gas price shocks. UK energy secretary Grant Shapps said on Aug. 2 that the government remained “absolutely committed” to hitting its net-zero carbon targets by 2050.

Persons: Rishi Sunak, Sunak, dawdling, Andrew Forrest, ”, ” Sunak, Michael Gove, Grant Shapps, “, Neil Unmack, Streisand Neto, Oliver Taslic Organizations: Reuters, Sunak’s Conservative Party, Budget, Reuters Graphics Reuters, ’, McKinsey reckons, Britain, Conservatives, Thomson Locations: Britain, London, China, United States, North

☆ Former Meta COO Sheryl Sandberg on the advice she'd give her 20-year-old self: 'Speak up earlier'
▼ + stars: | 2023-08-04 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

There are a lot of things Sheryl Sandberg wishes she could tell her 20-year-old self. But she'd start with this: Don't be afraid to speak up at work. Sandberg left Meta in August 2022 after 14 years at the company. Sandberg's tech career didn't take off until 2001 when she joined Google as general manager of its business unit. 1 best piece of advice for regular investors, do's and don'ts, and three key investing principles into a clear and simple guidebook.

Persons: Sheryl Sandberg, Sandberg, Zuckerberg, didn't, Meta, We've, Warren Buffett, — Organizations: Meta, LeanIn.org, CNBC, Harvard University, World Bank, Harvard, McKinsey & Co, Google, Lean Locations: Airbnb

☆ Virtual Healthcare Has Green Benefits
▼ + stars: | 2023-08-02 | by ( Cecilia Butini | ) www.wsj.com time to read: +8 min

Virtual doctor’s appointments are helping healthcare companies reduce carbon emissions, though sustainability is mostly seen as a side benefit of telehealth rather than its main driver. The healthcare industry is responsible for about 5% of global greenhouse-gas emissions, of which the U.S. healthcare system alone accounts for a quarter. Similarly, in England, medicines, buildings, equipment and other supply-chain items generate most of the National Health Service’s emissions, according to official NHS figures. The company has designed an app for teleconsultations that is able to show patients the carbon emissions avoided through that consultation. In line with national data, the company said its Scope 3 emissions account for 75% of its total emissions.

Persons: telehealth, Cynthia Cox, KFF, ”, Colin Cave, ” Cave, Glyn Richards, Ben Phillips, BUPA, Marijka Grey, Kyle Zebley, — Dieter Holger, Cecilia Butini Organizations: McKinsey, Sustainable Business, Affordable, Energy, U.S . Agency for Healthcare Research, National Health, Kaiser Permanente, Permanente Kaiser Permanente, Spain —, CommonSpirit Health, CommonSpirit, American Telemedicine Association Locations: England, telemedicine, Kaiser, U.S, Northwest, U.K, Spain, Grey, Europe

☆ Meet Ted Pick, the hard-charging 'deal junkie' who rose to the top at Morgan Stanley the old-fashioned way — and looks poised to succeed James Gorman as CEO
▼ + stars: | 2023-08-01 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +20 min

Employees knew they were getting promoted if Pick told them to wear a tie the following day, an ex-managing director recalled. While Morgan Stanley currently trades at a premium among its Wall Street peers, its enviable success isn't thanks to Pick. Succession has traditionally been a bloody sport on Wall Street, and Morgan Stanley is no exception. Gonzalo Marroquin/Patrick McMullan via Getty Images Show less Morgan Stanley investment management head and dark horse in the race for CEO, Dan Simkowitz. Despite enjoying the stock price gains under Gorman's reign, plenty of longtime employees want another dyed-in-the-wool Morgan Stanley loyalist, according to a former senior executive.

Persons: Morgan Stanley, Ted Pick, Pick, Gucci loafers, Blackstone, Tony James, Morgan, James Gorman, Gorman, Andy Saperstein, Dan Simkowitz, John Mack, Ted, James, Phil Purcell, Mack, Purcell, Merrill Lynch, Paul Taubman, Colm Kelleher, coheads, Gonzalo Marroquin, Patrick McMullan, Saperstein, Euromoney, Parker Gilbert, He's, John, cohead, Bolu, Goldman Sachs, Pablo, tony, Betsey Kittenplan, Smith Barney, James cochairs, Jim Breyer, Anna Wintour, John Mack pranking Pick, John Waldron, Goldman, I'm, Howard Marks, Bill Parcells, atta, Brian Moynihan, aren't, David Solomon, Jamie Dimon's, Eaton Vance, he's, you've, Richard Drew, — Organizations: Employees, Archegos Capital Management, Blackstone, McKinsey, Getty, Middlebury College, China Construction Bank, Harvard Business School, Mitsubishi, Wall, Autonomous Research, Anguilla, Agricultural Bank of China, Capital Management, Metropolitan Museum of Art, Vogue, New York Rangers, Oaktree Capital Management, Bloomberg, Staten, Disney, JPMorgan, Trade, AP Locations: China, Beijing, Manhattan, New York City, Caracas, Venezuela, Brookville, tony Long

☆ Workers at risk of AI radically changing their jobs aren't too worried about it
▼ + stars: | 2023-07-30 | by ( Madison Hoff | ) www.businessinsider.com time to read: +5 min

A Pew Research Center analysis highlights the degree to which jobs, industries, and workers might be exposed to AI. More exposure for jobs means AI "can either perform their most important activities entirely or help with them" per the report. This was used to figure out the degree in which different kinds of activities and jobs are exposed to artificial intelligence. Overall, almost a quarter of US workers were in the least exposed jobs in 2022 per the report. That's slightly higher than the 19% of workers in jobs that are considered most exposed to AI.

Persons: Rakesh Kochhar, Pew, Kochhar, Sam Altman, Jobs Organizations: Pew Research, Service, Pew Research Center, Pew, realtors, McKinsey Locations: Wall, Silicon

☆ The strange, improbable rise of Mark Zuckerberg 3.0
▼ + stars: | 2023-07-30 | by ( Kali Hays | ) www.businessinsider.com time to read: +27 min

In early July, Mark Zuckerberg unveiled the latest and perhaps most consequential product in Meta's history: a new model of Mark Zuckerberg. Silicon Valley Zuck was a husband and father with a legacy to build and protect at all costs. Silicon Valley Zuck was suddenly faced with something he'd never dealt with before, shrinking revenue. Still clinging to his persona as Silicon Valley Zuck, Zuckerberg engaged in an all-out media blitz to hawk his vision for the metaverse. They were the sort of people Harvard Zuck would have scoffed at and Silicon Valley Zuck would have gently ignored.

Persons: Mark Zuckerberg, Elon Musk, Joe Rogan, Zuckerberg, Clark Kent, TikTok, Sheryl Sandberg, Mike Schroepfer, Wall, McKinsey Zuck, Rogan, Meta, Harvard Zuck, —, Priscilla Chan, Ray's, pullover, Harvard Zuck —, Dianna, Mick, McDougall, Paul Sakuma, Zuckerberg's, Apple, Facebook, he'd, That's, Frances Haugen, Chris Cox, Zuck, Zach Gibson, Meta's, Sandberg, Marne Levine, who'd, Javier Olivan, he's, bode, Bain, Maher Saba, Lori Goler, He's, He'd, Katie Harbath, it's, Andrew Bosworth, Bosworth, Mark Zuckerberg McKinsey Zuck, Mark Shmulik, Bernstein, Augustus, Julius Caesar, Kali Hays Organizations: Meta, Menlo, Harvard, Apple, McKinsey, Business, Facebook, Cambridge, Capitol, Labs, Menlo Park, Q, Bain & Company, Reality Labs, Wall, Mark Zuckerberg McKinsey, Phillips Exeter Academy, Tech, Twitter Locations: California, Hawaii, United States, Davos, Silicon, contrition, Meta, verbiage, Harvard, Rome

☆ 4 careers where workers will have to change jobs by 2030 due to AI and shifts in how we shop, according to a McKinsey study
▼ + stars: | 2023-07-28 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Nearly 12 million US workers may need to switch jobs by 2030, a McKinsey study found. But between now and 2030, the McKinsey researchers projected that 11.8 million workers will have to change jobs not because they want to, but because they have to. Roughly nine million of them might have to find new jobs in new industries altogether, the study found. The study found that Americans in lower-wage jobs are up to 14 times more likely to need to change occupations by 2030. Chui said this could lead to less demand for some jobs and increased demand for others — like healthcare workers.

Persons: Michael Chui, Chui, Chu, we're Organizations: McKinsey, Service, McKinsey Global Institute, America Locations: Wall, Silicon, United States

☆ 10 ways artificial intelligence is changing the workplace, from writing performance reviews to making the 4-day workweek possible
▼ + stars: | 2023-07-27 | by ( Aaron Mok | ) www.businessinsider.com time to read: +13 min

Here are 10 ways AI tools such as ChatGPT have entered the workplace — and what may come out of it. Nick Patrick, the owner of the music-production company Primal Sounds Productions, told Insider he used ChatGPT to fine-tune legal contracts for clients. "You really got to find time to, like, learn this skill," Nigam previously told Insider. Companies are using AI to write their performance reviewsManagers may find writing performance reviews for their employees a tough task. He told Insider: "Any technology that increases productivity, ChatGPT included, makes a shorter workweek more feasible."

Persons: OpenAI, Nick Patrick, Shannon Ahern, hadn't, Jensen Huang, Huang, Akash Nigam, Nigam, Neil Taylor, ChatGPT, Taylor, Insider's Beatrice Nolan, Nolan, would've, Jasmine Cheng, Cheng, WorkLife, Carl Benedikt Frey, Michael Chu, iHeartMedia, Goldman Sachs, Goldman, Suumit Shah, chatbot, Anu Madgavkar, Richard Baldwin, Fran Drescher, Jezebel — Organizations: Morning, IBM, Workers, Primal Sounds Productions, Google, Twitter, Companies, Employers, Nvidia, ChatGPT, Sky News, Hulu, Spotify, Mobile, Oracle, Columbia Business School, McKinsey Global Institute, Apple, JPMorgan, Northrop Grumman, AIs, Writers Guild of America, SAG, Journalists, GMG Union of, Media Locations: Taipei, Taiwan, Oxford

☆ No, AI isn't likely to destroy white-collar jobs — and it could actually enhance them over time, analysis finds
▼ + stars: | 2023-07-26 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Some white-collar roles were predicted to be some of the first on the chopping block. However, according to a McKinsey study, AI could enhance these jobs rather than eliminate them. Some CEOs have already been taking steps to incorporate AI-powered programs into daily workflows while others have been open about their plans to scale back hiring in favor of generative AI. White-collar roles, specifically those in the legal and finance sectors, were predicted to be some of the first on the chopping block in early studies. While the analysis predicted generative AI could significantly shake up the labor market, its impact on white-collar roles may be beneficial over the long term.

Organizations: McKinsey, Morning

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