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Search resuls for: "Hasan Chowdhury"


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☆ Elon Musk is right: AI needs to slow down for the good of society
  + stars: | 2023-03-29 | by ( Emilia David | ) www.businessinsider.com   time to read: +6 min
Elon Musk, Steve Wozniak, and over 1,000 others signed a letter calling for a pause on new AI models. Wozniak, Musk, and more than 1,000 other business leaders signed a letter seeking guardrails and a pause on training AI models as the technology grows more powerful. The letter argues powerful AI models like OpenAI's GPT-4 "should only be developed only once we are confident that their effects will be positive and their risks will be manageable." It's hard to develop responsibly when the free market demands moving quicklyTo be clear, AI, particularly generative AI like ChatGPT, is incredibly transformative technology. Releasing powerful AI models for the public to play with before it's ready isn't making the technology better.
☆ Google Bard is already behind in the AI wars with OpenAI and Microsoft
  + stars: | 2023-03-23 | by ( Hasan Chowdhury | ) www.businessinsider.com   time to read: +5 min
Google Bard, the search firm's answer to ChatGPT, has underwhelmed early testers. Users in the US and UK trying out the AI chatbot find it pales in comparison to OpenAI's tech. The makers of the Twofer Goofer word puzzle found ChatGPT was much better at solving the brainteasers than Google's Bard. It's possible that the company does have a super impressive AI tool up its sleeve. Insider's Hugh Langley reported earlier in March that Google employees are testing a more intelligent version of Bard, nicknamed "Big Bard."
☆ Amazon and Meta's 48,000 job cuts usher in Big Tech's new mantra: Revenue per employee
  + stars: | 2023-03-21 | by ( Hasan Chowdhury | ) www.businessinsider.com   time to read: +5 min
Amazon and Meta say their combined 48,000 job losses are about getting leaner. All told, the two firms have cut 48,000 jobs across two waves of layoffs in less than six months. Discussing Twitter's remaking under new owner Elon Musk, Rabois noted that Musk is "steering hard" in terms of revenue per employee. A 2009 analysis of Big Tech's performance found Google's revenue per employee was over $1 million, the highest of all tech firms. Management experts say that cuts make workers jittery, weakening their productivity and firms' ability to bring in new talent.
☆ Credit Suisse's $3.2 billion cut-price sale signals an ongoing crisis that could expose unicorn fintechs
  + stars: | 2023-03-20 | by ( Hasan Chowdhury | ) www.businessinsider.com   time to read: +5 min
The firesale of Credit Suisse to UBS is putting the banking world on high alert. A $54 billion loan from the Swiss National Bank wasn't enough to keep Credit Suisse afloat, and UBS stepped in. Credit Suisse suffered idiosyncratic problems, such as a spying scandal involving former CEO Tidjane Thiam, as well as crises relating to its relationships with hedge fund Archegos Capital and financial group Greensill Capital. "There's already a lot of soul searching about what fintech business models are," says Paul Rolles, an ex-Morgan Stanley managing director and cofounder of money-management service HyperJar. Rolles believes the banking issues of the past couple of weeks are as much about confidence as intrinsic issues.
☆ It's wild that Western governments have decided that TikTok might spy for China. The app hasn't helped itself.
  + stars: | 2023-03-18 | by ( Hasan Chowdhury | ) www.businessinsider.com   time to read: +6 min
TikTok denies it feeds user data to China, but the drip-drip of revelations hasn't helped. The suspicion is that TikTok's owner ByteDance is in cahoots with the Chinese Communist Party and shares data about Western users with China. TikTok has maintained the app doesn't spy on individuals, and has pointed to the steps it's taking to hive off user information. FCC commissioner Brendan Carr responded to Bertram asking if "any member of the CCP accessed non-public US or EU user data from inside China." US social-media services normalized the aggressive harvesting of user data, and routinely hand over information to international governments.
☆ We're about to find out whether AI might replace those 200,000 laid-off tech workers as Silicon Valley prioritizes efficiency
  + stars: | 2023-03-16 | by ( Hasan Chowdhury | ) www.businessinsider.com   time to read: +5 min
As companies like Meta and Twitter get leaner, AI could replace those engineers. A consistent research finding is that AI tools make humans more efficient. "One reason that large firms struggle with new tech like AI: managers are squeamish about risk," Mollick tweeted. The best pro-human case is that workers are kept on and given access to AI tools like ChatGPT. It may be time for tech workers to update their favorite smug adage: Learn to code.
☆ Millionaire and billionaire CEOs say thousands of laid-off tech staff just did 'fake work'
  + stars: | 2023-03-14 | by ( Hasan Chowdhury | Shona Ghosh | Emilia David | ) www.businessinsider.com   time to read: +6 min
That's the question posed by certain members of the Silicon Valley elite who are attributing layoffs to a boom-time phenomenon: over-hiring and "fake" work. A particular view of 'work'This concept of fake work is rooted, at least partly, in political disagreement. Several of the tech figures pushing these ideas lean Republican, in contrast to the left-leaning tech workers they're lambasting. He and others pushing a grind culture are motivated, as tech employees commenting on the workplace app Blind noted. "I think it's a false narrative to say many people do fake work, especially when companies already deploy workplace monitoring tools."
☆ The unintended consequences of remote work
  + stars: | 2023-03-14 | by ( Paayal Zaveri | ) www.businessinsider.com   time to read: +5 min
While remote work offers flexibility, it often comes at the cost of maintaining a work-life balance. Remote work has also made it possible to hire anyone anywhere, which CEOs and hiring managers are starting to realize. Tech companies are offshoring jobs, due to America's broken immigration system, and remote work is making it easier. American tech companies are offshoring jobs, but it isn't all because of remote work. He says remote work led to all of this in the first place.
☆ AI Tech Like ChaptGPT, Bing, Bard Is a Bigger Threat Than Social Media
  + stars: | 2023-03-14 | by ( Hasan Chowdhury | ) www.businessinsider.com   time to read: +13 min
Nowadays, the promise of social media as a unifying force for good has all but collapsed, and Zuckerberg is slashing thousands of jobs after his company's rocky pivot to the metaverse. Much like social media in 2012, the AI industry is standing on the precipice of immense change. And as Altman and his cohort charge ahead, AI could fundamentally reshape our economy and lives even more than social media. If social media helped expose the worst impulses of humanity on a mass scale, generative AI could be a turbocharger that accelerates the spread of our faults. Social media amplified society's issues, as Wooldridge puts it.
☆ Silicon Valley Bank's spectacular implosion shows how digital banking can decimate a lender in 24 hours
  + stars: | 2023-03-13 | by ( Hasan Chowdhury | ) www.businessinsider.com   time to read: +5 min
Silicon Valley Bank's rapid implosion showed how bank runs can go at warp speed in the digital age. But while digital banking meant SVB's collapse accelerated to warp speed, its foundations had been left shaky. Digital banking, and the expectation of instantaneous transactions, is now the norm for the internet generation. Bianco said SVB's collapse should "scare the hell" out of bankers and regulators worldwide. Nigel Green, CEO of deVere Group, an independent financial adviser, said SVB's collapse had brought Trump-era deregulation into question.
☆ Silicon Valley elites are warring over who does 'fake work' in tech
  + stars: | 2023-03-11 | by ( Hasan Chowdhury | Shona Ghosh | Emilia David | ) www.businessinsider.com   time to read: +6 min
That's the question posed by a certain members of the Silicon Valley elite who are attributing layoffs to a boom-time phenomenon: over-hiring and "fake" work. "There's nothing for these people to do — they're really — it's all fake work," he said. A particular view of 'work'This concept of fake work is rooted, at least partly, in political disagreement. Several of the tech figures pushing these ideas lean Republican, in contrast to the left-leaning tech workers they're lambasting. "I think it's a false narrative to say many people do fake work, especially when companies already deploy workplace monitoring tools."
☆ The implosion of Silicon Valley's largest bank has investors worried worse is to come: 'There might be some kind of crack in the financial system'
  + stars: | 2023-03-10 | by ( Hasan Chowdhury | James Dean | ) www.businessinsider.com   time to read: +5 min
The implosion of the California lenders Silicon Valley Bank and Silvergate has investors worried. Christopher Whalen, the chairman of Whalen Global Advisors, a financial consultancy, said Silicon Valley Bank was "just the tip of the iceberg." He added that the situation at Silicon Valley Bank was "a reminder that many institutions are sitting on large unrealized losses" on bond holdings. Mould said the "fire sale" of Silicon Valley Bank's bond portfolio raised broader concerns. Silicon Valley Bank CEO Greg Becker on Thursday implored customers to "stay calm" in an apparent bid to stave off further mass withdrawals and avert collapse.
☆ 'PayPal Mafia' member says Google and Meta intentionally overhired engineers to prevent them from working at other companies.
  + stars: | 2023-03-09 | by ( Diamond Naga Siu | ) www.businessinsider.com   time to read: +4 min
"PayPal Mafia" member says Google and Meta "do fake work." The companies over-hired thousands of employees to fulfill a "vanity metric," said investor Keith Rabois. He's part of the infamous PayPal cohort (pictured above — he's number nine) that went on to play influential roles at other major tech companies. Rabois estimates that Facebook parent company Meta and Google each have thousands of employees who don't do much. He even suspects that Google intentionally overhired engineers to prevent them from working at other companies.
☆ Elon Musk's dream of producing 20 million Teslas per year hangs on whether or not it can pull off a major shift in battery tech
  + stars: | 2023-03-08 | by ( Hasan Chowdhury | Asia Martin | ) www.businessinsider.com   time to read: +7 min
Tesla wants to make lower cost electric vehicles, as a key part of its plan to fend off challenger. Still, given Tesla's delivery of roughly 1.3 million vehicles last year, it clearly has a long way to go to hit Musk's goal. The growing portion of Tesla's LFP vehicles have, in part, been the result of a deal it struck with Chinese battery supplier CATL in 2020. Tesla and the rush for lithiumA lack of supply chain controls hinders efforts to produce low-cost EVs. The company started to take steps towards taking control of lithium supply into its own hands.
☆ Google and Meta over-hired thousands of employees who do 'fake work,' says PayPal Mafia's Keith Rabois
  + stars: | 2023-03-08 | by ( Hasan Chowdhury | ) www.businessinsider.com   time to read: +4 min
Silicon Valley VC Keith Rabois says mass layoffs are due to hiring becoming a vanity metric in tech. Rabois told an Evercore-hosted event that firms like Meta over-hired by thousands of staff. It's all fake work," Rabois said. Speaking remotely from Miami at an event hosted by banking firm Evercore, he called out major tech firms for over-hiring and said the sector's current mass shedding of jobs to rein in costs was overdue. Later on the call, he estimated that Alphabet's Google and Facebook owner Meta had thousands of employees who don't do anything.
☆ Elon Musk's new Master Plan for Tesla should've introduced cheap EVs. Instead, we got a whole lot of nothing.
  + stars: | 2023-03-02 | by ( Hasan Chowdhury | ) www.businessinsider.com   time to read: +5 min
The world is waiting for cheap EVs, but Tesla isn't ready to deliver — yet. Elon Musk's EV company held an Investor Day in Texas that had everything but cheap EVs. He needs one now — and fast — as competitors are putting the pedal to the metal in their own quests for low-cost EVs. On the investor front, low-cost EVs help make Tesla a truly global phenomenon. But the lack of any firm details on a cheap EV made for a puzzling omission from what was meant to be a showcase of Tesla's offerings.
☆ Meta's and Twitter's subscription plans show they care more about money than free speech
  + stars: | 2023-02-20 | by ( Hasan Chowdhury | ) www.businessinsider.com   time to read: +6 min
On Sunday, Mark Zuckerberg – still stinging from his botched metaverse launch – unveiled Meta Verified, a new subscription service costing $12 on web and $15 on iOS and Android. The timing of the launches of Meta's and Twitter's subscription services seems to be no coincidence, then: They're introducing paid-for services at a time when they're being squeezed of digital ad revenue. Meta says its new subscription service is primarily for content creators, but this feels disingenuous because everyone on its service is, in effect, a "content creator." Charging for it illustrates a clear misunderstanding Zuckerberg has of Facebook and its users: Facebook is responsible for vetting who gets access to its platform, not users themselves. Just 0.2% of Twitter users in the US had signed up for Twitter Blue, Musk's subscription service, by the end of January.
☆ The new Bing may not be the game-changer Microsoft wanted it to be, but it's still lit a fire under Google
  + stars: | 2023-02-18 | by ( Matt Weinberger | ) www.businessinsider.com   time to read: +4 min
Users have had creepy, unsettling exchanges with Bing, resulting in Microsoft limiting some features. Win or lose, though, Microsoft Bing has successfully pushed Google towards much-needed innovation. Microsoft CEO Satya Nadella was not shy about his intent to use the OpenAI partnership as a way to make Google "dance." As I heard someone say this week, Microsoft seems to be speed-running the Gartner hype cycle. It's hard not to feel like Google search has fallen far from its beginnings at what was the most useful, most simple, and cleanest search engine in what was an extremely competitive market.
☆ Bing's first week with AI superpowers was a Wild West of excitement, misinformation, and dystopia — and showed Google has nothing to worry about just yet
  + stars: | 2023-02-17 | by ( Hasan Chowdhury | ) www.businessinsider.com   time to read: +5 min
Microsoft Bing had an up-and-down first week after relaunching with new AI superpowers. Bing, Microsoft's search engine, has been revamped with artificial intelligence superpowers. Google's eponymous search engine is getting the same treatment. For one, its launch hasn't gone completely to plan — and even Microsoft admitted Bing has gone rogue in certain circumstances. And in Google, Bing faces a mighty foe.
☆ Microsoft pushing you to set Bing and Edge as your defaults to get its new OpenAI-powered search engine faster is giving off big 1990s energy
  + stars: | 2023-02-14 | by ( Hasan Chowdhury | Shona Ghosh | ) www.businessinsider.com   time to read: +4 min
Microsoft was once king of computing, with more than 90% market share. Microsoft has integrated some OpenAI deep-learning technology into Bing, its ailing competitor to Google, so that the search engine can answer questions in a more nuanced way. And rather than just returning a list of results, Bing will present the information in a more useful way. What is less futuristic is Microsoft's maneuvering to juice its own market share as much as possible. Microsoft is juicing Bing's market share right now Shona Ghosh/InsiderAt present, Bing's share of the search market is a mere 3%, according to data firm Stat Counter.
☆ Apple cofounder Steve Wozniak thinks ChatGPT is 'pretty impressive,' but warned it can make 'horrible mistakes': CNBC
  + stars: | 2023-02-13 | by ( Felise Seah | ) www.businessinsider.com   time to read: +3 min
Steve Wozniak said OpenAI's ChatGPT is "pretty impressive," during an interview with CNBC on Wednesday. "The trouble is it does good things for us, but it can make horrible mistakes by not knowing what humanness is," Wozniak warned. "The trouble is it does good things for us, but it can make horrible mistakes by not knowing what humanness is," Wozniak warned. In the interview, Wozniak also drew a parallel to the concerns surrounding AI technology in self-driving cars, and said that AI cannot currently replace human drivers. Google's new experimental AI chatbot, Bard, gave an inaccurate answer to a question about the James Webb Space Telescope.
☆ Microsoft and Google will duke it out over Silicon Valley's true financial driver: ads
  + stars: | 2023-02-09 | by ( Hasan Chowdhury | ) www.businessinsider.com   time to read: +5 min
Google search dominated, but Microsoft's AI-powered Bing is emerging as a credible challenger. Google has dominated search and the search ad market for the almost 25 years since its inception. The company has around 90% of the search market, according to data firm Stat Counter. Microsoft's share of the search ad market is small: it made nearly $18 billion in ad revenue last year, far smaller than the $224 billion Google made in gross ad revenue last year, the analysts wrote. Declining ads market will spark fiercer competitionThe fight coincides with a slump in ad sales, upping the pressure on Google is the dominant player.
☆ Google is in a weird place right now
  + stars: | 2023-02-09 | by ( Diamond Naga Siu | ) www.businessinsider.com   time to read: +5 min
Google Bard VS OpenAI ChatGPT displayed on Mobile with Openai and Google logo on screen seen in this photo illustration. Jonathan Raa/NurPhoto/Getty ImagesGoogle is in a weird place right now. After Microsoft announced integration of ChatGPT with Bing, all eyes were on Google to do something. It's currently only open to "trusted testers," and my teammate writes that "trusted" is the key word, since Google doesn't trust you. Yet, in this crucial moment, Google seems to only be able to react with fear, Hasan writes.
☆ Google's big reveal for its ChatGPT rival Bard was full of fear and FOMO
  + stars: | 2023-02-08 | by ( Hasan Chowdhury | ) www.businessinsider.com   time to read: +4 min
Google is in a weird position after the release of ChatGPT by a rival firm. Its unveiling of ChatGPT rival Bard was accordingly an odd mix of FOMO and fear. But unlike ChatGPT, which has now amassed 100 million users, Bard will only be available to "trusted testers." Hence the FOMO Bard reveal — on the eve of a competing announcement from Microsoft to show off an AI-enabled Bing. For Google, which sees AI as "the most profound technology we are working on today," Bard can't be the latter.
☆ Sam Altman's big problem? ChatGPT needs to get 'woke' if he wants cash from corporate America
  + stars: | 2023-02-03 | by ( Hasan Chowdhury | ) www.businessinsider.com   time to read: +5 min
ChatGPT, like other AI tools, suffers from a bias problem that could impede corporate adoption. OpenAI's CEO, Sam Altman, admitted on Wednesday that ChatGPT has "shortcomings around bias", though he didn't go into detail. Unfortunately for OpenAI, ChatGPT has already had several cases of bias emerge. "You don't have to think very hard to realize there's an enormous quantity of toxic content of absolutely every variety imaginable that's present in that training data." Though OpenAI has found success so far, Wooldridge could see a scenario where the firm is pushed by customers to reveal its training data.
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