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Read previewCompanies are racing to deploy AI in the workplace but one Stanford University professor said the technology should be used to "complement people" rather than replace them altogether. Brynjolfsson explained that savvy companies will use AI in conjunction with workers because some tasks are better completed by humans and others by machines. Related storiesSome companies have been laying off workers as they implement AI. Some workers are naturally concerned about whether AI is coming for their jobs as the hype around the technology continues. Two CEOs working on new robotic technologies echoed Brynjolfsson's point, telling Business Insider that workers don't need to fear that AI will replace them.
Persons: , Erik Brynjolfsson, Brynjolfsson, We're Organizations: Service, Stanford University, Business, Stanford Digital Economy Lab, Economic, Deloitte Locations: Davos
BAGHDAD (Reuters) - Iraqi Kurdish Prime Minister Masrour Barzani cancelled a meeting with Iran's foreign minister at the World Economic Forum at Davos in Switzerland in protest over Iranian missile strikes on the Iraqi Kurdish city of Erbil, a source said on Wednesday. Iran late on Monday struck Erbil, the capital of Iraq's semi-autonomous Kurdistan region, with ballistic missiles in what it said was an attack on an Israeli spy headquarters, claims vehemently denied by Iraqi and Iraqi Kurdish officials. The attack killed at least four people, including a prominent Kurdish businessman and his infant child. The Iranian strikes have led to a rare diplomatic row with Iraq's government, with Baghdad filing a complaint against Iranian "aggression" at the United Nations Security Council and recalling its ambassador to Tehran. Iraqi Prime Minister Mohammed Shia al-Sudani, a Shi'ite, was brought to power with the backing of some pro-Iranian factions, but has been keen to show his government opposes any infringement on Iraq's sovereignty.
Persons: Masrour Barzani, Saddam Hussein, Mohammed Shia, Maha El, Timour Azhari, Andrew Heavens, Sharon Singleton Organizations: Iranian, Monday, United Nations Security Council, . Locations: BAGHDAD, Kurdish, Davos, Switzerland, Iraqi Kurdish, Erbil, Iran, Iraq's, Kurdistan, Iraqi, Baghdad, Tehran, Iraq, U.S, . Iraqi
Emmanuel Macron, France's president, delivers a special address on day two of the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday, Jan. 17, 2024. Photographer: Hollie Adams/Bloomberg via Getty ImagesFrench President Emmanuel Macron said Wednesday that Europe must be more assertive on the world stage as it confronts an uncertain future for its relations with the U.S. In a possible nod toward the potential re-election of Donald Trump, Macron said that Europe should charge its own path on consequential issues rather than relying too closely on its ally across the Atlantic. Central to those issues are the conflicts in Ukraine and the Middle East, as well as the climate transition, Macron said. Though absent from Davos this year, Trump's potential reelection has been a key topic of conversation at the Alpine resort after he won the Iowa caucuses on Monday.
Persons: Emmanuel Macron, Hollie Adams, Donald Trump, Macron, Republicans — Trump, , Trump Organizations: Economic, Bloomberg, Getty Images, U.S, Republicans Locations: Davos, Switzerland, Europe, United States, Ukraine, U.S, Iowa
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Iran's foreign minister in Davos as tensions escalate in the Red SeaIran's Foreign Minister Hossein Amir-Abdollahian speaks to CNBC's Dan Murphy on the sidelines of the World Economic Forum in Davos.
Persons: Hossein Amir, Abdollahian, CNBC's Dan Murphy Organizations: Iran's, Economic Locations: Davos
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer UK PM Gordon Brown says he's worried about the 'threat' of a Trump presidencySpeaking to CNBC's Tania Bryer at the World Economic Forum, former U.K. Prime Minister Gordon Brown discusses the Israel-Hamas war, Israel's Prime Minister Benjamin Netanyahu and the possibility of President Donald Trump returning to the White House.
Persons: Gordon Brown, he's, CNBC's Tania Bryer, Benjamin Netanyahu, Donald Trump Organizations: Former, Economic, Israel's Locations: Israel
Joe Kaeser, chair of Siemens Energy, is more concerned by gloomy public sentiment in Germany than he is by the recent rise in inflation. The former chief executive of German conglomerate Siemens said base effects and the monthly and quarterly price readings meant he was not overly focused on the annual headline inflation figure. People are downbeat, everybody's asking what's going to be next, what's in [it] for me. That's what we need to explain to people, so they are more upbeat again," Kaeser told CNBC at the World Economic Forum. Kaeser said the German government needed to present a roadmap on energy, jobs and economic growth, and move past current industry disputes.
Persons: Joe Kaeser, what's, Kaeser Organizations: Siemens Energy, Siemens, CNBC, Economic Locations: Germany
In this article XRP.CM= Follow your favorite stocks CREATE FREE ACCOUNTwatch nowDAVOS, Switzerland — Ripple explored markets outside the U.S. for its initial public offering, CEO Brad Garlinghouse told CNBC, blaming a "hostile" regulator. However, the firm has put any plans for an IPO on hold for now, Garlinghouse said. Garlinghouse told CNBC in 2022 that Ripple, the company behind the cryptocurrency XRP , will explore a public listing after its lawsuit with the U.S. Securities and Exchange Commission ends. The Ripple CEO said his company has not gone public in the U.S. yet because of the SEC's actions. The SEC sued Coinbase last year alleging that the company was acting as an unregistered broker and exchange.
Persons: Brad Garlinghouse, Garlinghouse, Coinbase, Gary Gensler Organizations: CNBC, U.S . Securities, Exchange Commission, Economic, SEC, U.S Locations: DAVOS, Switzerland, Davos, U.S, United States
BINigel Vaz, CEO of Publicis Sapient, a consulting firm, compares the buzz around AI to the early days of the internet. BINela Richardson, chief economist at ADP, told BI there's a big learning gap on what constitutes AI. Much of what is being called "generative AI" has been around for decades, while much of what workers think is AI is actually automation. Similarly, Guru Gowrappan, CEO of ViaSat, a communications operator, says many companies are just talking about AI at Davos — but not actually doing much with it. And some of them are just recategorizing what they were doing to call it AI," he tells BI.
Persons: , I've, Davos — I've, Sheila Warren, there's, Warren, Nigel Vaz, Publicis, Vaz, Bain, Nela Richardson, Richardson, Ivana Bartoletti, Guru Gowrappan, Gowrappan Organizations: Service, Economic, Business, Davos —, Crypto, VR, Infosys, IBM, Accenture, Consulting, ADP, Wipro, ViaSat, Davos Locations: Davos
Good news for anyone hoping to land a job on Wall Street: JPMorgan plans to expand its employee ranks this year. JPMorgan — which currently employs around 320,000 people — plans to double down on its core investment areas in retail, payments, and investment banking this year, Pinto said in the interview. JPMorgan's plans for expansion also come on the heels of the most profitable year in its history. Citigroup announced last week that it would be laying off around 20,000 workers over the coming three years as part of a corporate restructuring initiative internally known as "Project Bora Bora." Last year, major investment banks like Goldman Sachs and Morgan Stanley also made staff cuts.
Persons: Daniel Pinto, Pinto, Goldman Sachs, Morgan Stanley Organizations: Service, JPMorgan, Business, Bloomberg, Citigroup, Bora Bora Locations: Swiss, Davos
Read previewIran's missile and drone attack on neighboring Pakistan earlier this week came as the two countries reportedly held a joint naval exercise in the Persian Gulf. "We targeted Jaish al-Adl, not Pakistani citizens," Amirabdollahian said, per the Islamic Republic News Agency (IRNA), Iran's state news agency. Related stories"We respect the sovereignty and territorial integrity of Pakistan, but we won't allow Iran's security to be compromised," he added. While Iran was attacking Pakistan from the air, the two nations held joint military exercises in the Strait of Hormuz and the Persian Gulf. We will react from any area that threatens Iran," said the minister.
Persons: , Hossein Amirabdollahian, Amirabdollahian, General Mohammadreza Ashtiani Organizations: Service, Business, Economic, Adl, Islamic Republic News Agency, Iranian Navy, Pakistani Navy, Islamic Revolutionary Guard Corps, ISIS, Defense Locations: Pakistan, Persian, Iran, Davos, Switzerland, Strait, Hormuz, Iraq, Syria, Israeli
“The Argentine economy is in such bad shape that it has to be shaken up. President Milei and his team are doing exactly that,” she said during an interview in Davos. He has also devalued Argentina’s currency. However, some of Milei’s measures, such as the devaluation, are also likely to stabilize Argentina’s economy in the medium term, Sperrfechter said. Among his most radical plans, Milei has pledged to ditch the peso as Argentina’s official currency and replace it with the US dollar.
Persons: London CNN —, ” “, ” Javier Milei, , Milei, Juan Peron, Kristalina Georgieva, CNN’s Richard Quest Wednedsay, Milei’s, Kimberley Sperrfechter, Sperrfechter, It’s Organizations: London CNN, Economic, Council, Foreign Relations, Reuters, International Monetary Fund, IMF, Argentine, Capital Economics, CNN, , US Federal Reserve Locations: Davos, Switzerland, Argentina, Argentine, US, “ Argentina
Read previewJunior employees should show up at the office more often if they want to score promotions, says a corporate leader. "If you're asking me my opinion on how you succeed in your career," Kevin Ellis, the chair of PricewaterhouseCoopers UK, said. With AI now a part of the workplace, face time and getting people together in the office is important, he added. Companies have been struggling with how to manage remote work following the COVID-19 pandemic. That's because, as my colleague Amanda Goh wrote last year, the generation still can't make up its mind about going into the office.
Persons: , Kevin Ellis, Ellis, Jamie Dimon, Goldman Sachs, David Solomon —, Gen Z —, Amanda Goh Organizations: Service, Business, PricewaterhouseCoopers, Bloomberg, Economic, JPMorgan Chase Locations: Davos, Switzerland
Sam Altman, CEO of OpenAI, during an interview at Bloomberg House on the opening day of the World Economic Forum in Davos, Switzerland, on Jan. 16, 2024. DAVOS, Switzerland — OpenAI founder and CEO Sam Altman said the night he was pushed out by the board was "wild," and he felt "super confused" and was "super caught off guard." "I have no equity in OpenAI," Altman said in a May Senate hearing on artificial intelligence. Between the board and the non-profit sits a capped-profit company dubbed OpenAI Global, which Microsoft inked a $10 billion investment deal with in January last year. There are also a few other entities, including a holding company, that comprise the somewhat convoluted organization behind the biggest name in generative AI tech.
Persons: Sam Altman, Switzerland —, " Altman, Altman, , Altman's, John Kennedy Organizations: Bloomberg House, Economic, OpenAI's, OpenAI Inc, OpenAI, Microsoft Locations: Davos, Switzerland, DAVOS, OpenAI
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJamie Dimon warns ‘all these very powerful forces’ will affect U.S. economy in 2024 and 2025JPMorgan Chase CEO Jamie Dimon said he remains cautious on the U.S. economy over the next two years because of a combination of financial and geopolitical risks. “You have all these very powerful forces that are going to be affecting us in ’24 and ’25,” Dimon told Andrew Ross Sorkin Wednesday in a CNBC interview at the World Economic Forum in Davos.
Persons: Jamie Dimon, , ” Dimon, Andrew Ross Sorkin Organizations: JPMorgan Chase, CNBC, Economic Locations: U.S, Davos
DAVOS, Switzerland — Bitcoin does nothing, JPMorgan Chase CEO Jamie Dimon said Wednesday on the sidelines of the World Economic Forum. "This is the last time I'm talking about this with CNBC, so help me god," Dimon said. "I defend your right to do bitcoin," Dimon added, saying, "I don't want to tell you what to do. When asked what he made of Larry Fink changing his view on bitcoin as BlackRock jumped into the spot ETF business, Dimon said, "I don't care. "I don't know what he would say about blockchain versus currencies that do something versus bitcoin that does nothing," Dimon added.
Persons: Jamie Dimon, bitcoin, Dimon, blockchain, Smart, Franklin Templeton, Larry Fink, I'm Organizations: JPMorgan, Economic, CNBC, SEC, WisdomTree, Chartered, BlackRock Locations: DAVOS, Switzerland, Davos, BlackRock, bitcoin
Argentina's President Javier Milei delivers a speech at the World Economic Forum (WEF) meeting in Davos on January 17, 2024. "Today, I'm here to tell you that the Western world is in danger," Milei said in a special address at the World Economic Forum in Davos, Switzerland, according to a translation. "Rebuilding Trust" is the overarching theme of the annual WEF meeting. WEF founder Klaus Schwab introduced Milei to the stage in Davos by saying his "more radical methods" had "introduced a new spirit to Argentina." "The main leaders of the Western world have abandoned the model of freedom for different versions of what we call collectivism.
Persons: Javier Milei, Fabrice COFFRINI, FABRICE COFFRINI, Milei, Donald Trump, WEF, Klaus Schwab Organizations: Economic, Getty, Reuters Locations: Davos, AFP, Switzerland, Swiss, Argentina
"You've now reached the end of today's AI utility," Gelsinger said. "This next phase of AI, I believe, will be about building formal correctness into the underlying models." "Certain problems are well solved today in AI, but there's lots of problems that aren't," Gelsinger said. "Basic prediction, detection, visual language, those are solved problems right now. But at the end of the day, I need the knowledge worker to say is it right."
Persons: Pat Gelsinger, You've, Gelsinger Organizations: Microsoft, Google, Intel, CNBC Locations: DAVOS, Switzerland
But even the lesser label of specially designated global terrorist group could jeopardize U.S. and Saudi efforts to construct a lasting peace deal to end the conflict. The conflict created a humanitarian catastrophe that Mr. Biden, as a candidate in 2020, vowed to address. Following a debate within the Trump administration, Secretary of State Mike Pompeo designated the Houthis as a foreign terrorist organization and a specially designated global terrorist group in mid-January 2021. In February 2021, less than three weeks after Mr. Biden took office, Secretary of State Antony J. Blinken reversed Mr. Pompeo’s designations. Asked by a reporter last week whether he considered the Houthis a terrorist group, Mr. Biden did not equivocate.
Persons: Biden, Yemen’s, Trump, Jake Sullivan, Tim Lenderking, Mike Pompeo, Antony J, Blinken, Tom Cotton, Mr, ” Mr, Cotton, Ayatollah Ali Khamenei, , Organizations: U.S, State Department, Economic, Sana’a Center, Strategic Studies, United Arab Emirates, United Arab, U.S . Agency for International Development, United Nations, Associated Press, Republican, United Locations: Houthi, Yemen, Iran, U.S, United States, Saudi, Gaza, Israel, Davos, Switzerland, Al Qaeda, Saudi Arabia, United Arab Emirates, Arkansas, United Arab
Read previewSince the release of ChatGPT just over a year ago, it's become increasingly clear that the world will have to adapt as the influence of generative AI grows. And that's been borne out at this year's World Economic Forum in Davos, where AI has been a key topic. Business Insider spoke to industry leaders from companies including McKinsey, KPMG, IBM, and Coursera about the skills they believe will be important in the era of generative AI. Know how to optimize data for generative AI. "Being able to look at data, evaluate data, cleanse data, anonymize data — all that — is going to be even more important than historically it's been," Knopp said.
Persons: , it's, Katy George, George, Paul Knopp, Knopp, that's, Jeff Maggioncalda, Maggioncalda, John Granger, Granger Organizations: Service, Business, Economic, McKinsey, KPMG, IBM, KPMG US, IBM Consulting, Employees Locations: Davos, Maggioncalda
On Visit to Ireland, Chinese Premier Eyes Deeper Economic Ties
  + stars: | 2024-01-17 | by ( Jan. | At A.M. | ) www.usnews.com   time to read: +2 min
DUBLIN (Reuters) - China would like to deepen economic and trade cooperation with Ireland, particularly in areas of "huge potential" such as green technologies and the digital economy, Premier Li Qiang said on Wednesday during a trip to Dublin. "Looking ahead, we would like to work more closely with Ireland to build on what we already achieved," Li said in a speech through an interpreter. "There's huge potential in our cooperation in green technologies, in bio manufacturing, in the digital economy. Li, who is finishing his European trip in Ireland, highlighted China's potential for foreign investment in a keynote speech to business leaders at the World Economic Forum (WEF) in Davos on Tuesday. Before exchanging toasts with Li, Prime Minister Leo Varadkar said Ireland was also committed to pursuing deeper economic ties and assisting Irish and Chinese companies, on the basis of transparency and fair competition.
Persons: Li Qiang, Li, Li Keqiang, Leo Varadkar, Varadkar, Padraic Halpin, Jon Boyle, Tomasz Janowski Organizations: DUBLIN, Reuters, Ireland, Economic, United Nations Security Council Locations: China, Ireland, Dublin, Davos, Ukraine, East, Myanmar
He said the richest countries, companies, and people, "should be pushed to be more generous." Gates also called for focusing on the highest-impact areas and more innovation for the Global South's needs. AdvertisementBill Gates called on the richest countries and people to give more money to the Global South, during a panel at the World Economic Forum in Davos. "Those who have the most — whether it's countries, companies, or individuals — should be pushed to be more generous," he said. In his final point, Gates said: "There's been far too little innovation on the needs of the Global South, whether it's malaria, whether it's their crops."
Persons: Bill Gates, Gates, Organizations: Global, Service, Economic, Microsoft, United Nations, for Economic Cooperation Locations: Davos, Ukraine, Sweden, Norway, Denmark, Luxembourg
By Philip PullellaVATICAN CITY (Reuters) - Pope Francis on Wednesday urged political, economic and business leaders at the World Economic Forum (WEF) in Davos to look beyond profit and try to heal an "increasingly lacerated" world with moral and ethical decisions. In his message to the world's movers and shakers meeting at the Swiss resort, Francis urged them to tackle the "injustices that are at the root causes of conflict", primarily hunger and the exploitation of natural resources for the benefit of the few. "How is it possible that in today's world people are still dying of hunger, being exploited, condemned to illiteracy, lacking basic medical care, and left without shelter?" The Argentine-born pope, the first from the Global South, said the world situation required that "businesses themselves be increasingly guided not simply by the pursuit of fair profit, but also by high ethical standards". The "widespread exploitation" of male, female and child labourers with low wages and no real prospects for personal and professional development must stop, he said.
Persons: Philip Pullella, Pope Francis, Francis, , Mark Potter Organizations: CITY, Wednesday, Economic Locations: Davos, Swiss, States, Argentine
Austrian Marlene Engelhorn, who inherited from her family who owns the Germany's chemical giant BASF, poses with a placard reading "Tax the rich!" at the entrance of the Congress center on the opening of the annual meeting of the World Economic Forum (WEF) in Davos, on January 15, 2024. In an open letter to political leaders gathered at the annual World Economic Forum in Davos, Switzerland, the rich signatories said they wished to deliver a clear message: "Tax our extreme wealth." "We are surprised that you have failed to answer a simple question that we have been asking for three years: when will you tax extreme wealth?" But it will turn extreme and unproductive private wealth into an investment for our common democratic future."
Persons: Marlene Engelhorn, Fabrice COFFRINI, FABRICE COFFRINI, Abigail Disney, Simon Pegg, Valerie Rockefeller, Brian Cox, Logan Roy, Cox Organizations: BASF, Economic, Getty, Oxfam Locations: Davos, AFP, Switzerland, HBO's
The new artificial intelligence era represents a huge moment for the tech industry that has not been seen in a decade, according to a top executive at Facebook parent company Meta Platforms. "This is a seismic moment," Mendelsohn said, in conversation with CNBC's Tania Bryer at the World Economic Forum in Davos, Switzerland. In her role at Meta, Mendelsohn leads relationships with top marketers and agencies. She is also a seasoned advertising executive, with past experience including partner and executive chairman at London advertising agency Karmarama, and non-executive director of alcoholic beverages firm Diageo. Last year also marked a major pivot toward artificial intelligence for Meta — an area where the company plays a key role with its LLaMA large language model.
Persons: Nicola Mendelsohn, Mendelsohn, CNBC's Tania Bryer, Mark Zuckerberg's Organizations: Facebook, Meta, Economic, Diageo Locations: Davos, Switzerland, London
CNN —Attacks by Iranian-backed groups in the Middle East won’t stop until Israel’s war on Hamas in Gaza ends, Tehran’s top diplomat warned on Wednesday, as tensions across the region threaten to spiral into wider conflict. Since Hamas’ October 7 attacks on Israel and the Israeli offensive in Gaza that followed, the militant group Hezbollah has engaged in daily confrontations with Israeli forces on the Lebanon-Israel border. Houthi rebels have launched a series of attacks on commercial ships and Western military vessels in the Red Sea, a major artery for international trade. Iran also launched missile strikes in Syria and Pakistan against what it described as terrorist groups who it blamed for deadly attacks inside Iran in recent weeks. Meanwhile, there are fears that the ripple effects of the tensions have begun to extend beyond the Middle East.
Persons: Tehran’s, Hossein Amir, Abdollahian, CNN’s Fareed Zakaria, Hassan Nasrallah, , Hizam al, Assad, Matt Miller, ” Miller, Israel, Herzi Halevi, ” Halevi, Chris Liakos, Adam Pourahmadi, Jennifer Hansler, Wayne Chang Organizations: CNN, Economic, Sunday, Iranian Revolutionary Guard, Iraq, US, State, Israel’s, Staff, Israel Defence Forces Locations: Gaza, Iranian, Davos, Israel, Lebanon, Red, Iraq, Syria, Iran, Erbil, Pakistan, Yemen, , East, China,
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