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☆ AI job cuts: Technology will shrink workforces within five years, say company execs
▼ + stars: | 2024-04-05 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

AI is emerging “as a great disruptor in the world of work,” Denis Machuel, chief executive of Adecco Group, said in a statement. Some 46% of executives said they would redeploy employees internally if their jobs were impacted by AI. Responses from more than 800 global companies showed that a quarter of them expected AI to cause job losses, while half thought the technology would create new jobs. The WEF said employers expected most technologies, including AI, to be “a net positive” for jobs over the following five years. Still, that offers little consolation to the workers AI has already helped push out.

Persons: ” Denis Machuel, Goldman Sachs Organizations: London CNN, Adecco Group, Oxford, Adecco, World Locations: Swiss, United States, Canada, Germany, Japan

☆ Larry Fink is concerned about the youth. Here are 5 key takeaways from the BlackRock CEO's letter to investors.
▼ + stars: | 2024-03-26 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +8 min

Fink, the chief executive of BlackRock, used his annual investor letter to warn of a looming "retirement crisis" facing the US and raise his concerns about disillusioned young people. This triggered criticisms on both sides of the aisle and became a major headache for Fink and the firm. He has avoided using the term ESG and repeatedly emphasized that BlackRock works with energy firms. Fink, who is 71 and has kept Wall Street guessing on his own retirement, also got personal with this letter. Fink is focused on "Energy pragmatism"The biggest opportunity in infrastructure, according to Fink, is around energy.

Persons: Larry Fink, Fink, . Fink, I've, Australia Fink Organizations: BlackRock, Business, DuPont, Cal Northridge, University of Michigan, Gen, Global Infrastructure Partners, Texas Permanent School Fund Locations: Calpers, Ottoman Empire, Australia, BlackRock, decarbonization

☆ Buy these five non-tech stocks that are well positioned for the long haul, Bank of America says
▼ + stars: | 2024-03-23 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Shares of Nvidia are red hot, but Bank of America thinks there's a slew of other stocks that investors should consider. They include: Super Micro Computer, Kroger, Burlington, JPMorgan Chase and TJX Companies. Kroger Analyst Robert Ohmes said Kroger is firing on all cylinders even as grocery prices remain high. And like Kroger, share gains are aplenty as new store openings continue coming online. Given its turnaround momentum and ongoing favorable off-price retail fundamentals, Burlington is well positioned for outperformance, in our view."

Persons: there's, JPMorgan Chase, Robert Ohmes, Kroger, Ohmes, Lorraine Hutchinson, Hutchinson, Ebrahim Poonawala, Jamie Dimon, Poonawala, BofA, TJX, BURL Organizations: Nvidia, Bank of America, CNBC, Computer, Kroger, JPMorgan, TJX Companies, Burlington, JPMorgan Chase, Artificial Intelligence Locations: Burlington

On a positive note, Bank of America raised its price target on Nvidia to $1,100, implying gains of nearly 20%. Analyst Ruplu Bhattacharya upped his price target by $240 to $1,280, now implying upside of 10.1% from Tuesday's close. Analyst Sheila Kahyaoglu upgraded the airline stock to hold from underperform and raised her price target by $8 to $28. Still, her new price target implies shares will slid another 2.6% — even after Tuesday's big drop. Notably, he said Nvidia stock is at a lower forward price-to-earnings multiple today than when ChatGPT was launched.

Persons: Wells, BofA, Ruplu Bhattacharya, Bhattacharya, Alex Harring, Jefferies, Sheila Kahyaoglu, Tuesday's, Kahyaoglu, — Alex Harring, Vivek Arya, Arya, ChatGPT, Colin Langan, Langan, Fred Imbert Organizations: CNBC, Bank of America, Nvidia, Artificial Intelligence, Super Micro, Southwest, Jefferies, Boeing, of America, Tech Conference, EU, China Locations: Tuesday's, underperform, Woodstock, Wells

☆ Bank of America says keep buying this server maker with an AI competitive edge and great relationship with Nvidia
▼ + stars: | 2024-03-13 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Super Micro Computer has more room to run given its competitive advantage and relationships in the artificial intelligence sector, Bank of America said. Analyst Ruplu Bhattacharya hiked his price target by $240 to $1,280, now implying upside of 10.1% from Tuesday's close. Bhattacharya's call comes amid rising expectations for growth in the broader AI server industry as the technological craze continues. SMCI YTD mountain Super Micro Computer, year to date The analyst's new target price also offers reassurance that the stock's rally isn't losing steam. Super Micro shares have already surged more than 300% this year as the AI craze continues, adding to 2023′s jump of more than 240%.

Persons: Ruplu Bhattacharya, Bhattacharya Organizations: Bank of America, Intel, AMD, Nvidia, Computer, Super Micro Locations: Tuesday's

☆ These 70 stocks are the top bets for AI and related themes like big data and machine learning, according to the CIO at a firm that bets on disruptive technology
▼ + stars: | 2024-03-06 | by ( Laila Maidan | ) www.businessinsider.com time to read: +1 min

Nvidia's 76% gain this year underscores the concentrated stock market led by mega-cap tech. Despite concerns, the growth of AI stocks isn't a hype cycle, according to Defiance ETFs' CEO. The Defiance Quantum ETF holds leading AI players, spanning sectors like quantum and cloud computing. It's a concentrated stock market, with a handful of mega-cap technology names continuing to lead the gains as they profit off the development of AI. But investor concerns are mounting over whether it's getting shaky at the top.

Persons: it's, Franklin Templeton Organizations: Nvidia, Business

☆ The rise of the job-search bots
▼ + stars: | 2024-03-05 | by ( Aki Ito | ) www.businessinsider.com time to read: +18 min

Unlike the other bots, which ingested job openings into their own sites, LazyApply submitted applications via external job boards. AdvertisementUnlike the other bots, LazyApply did all the applying in real time, right in front of my eyes. Hugo Herrera for BISo far, though, it looks like the arrival of job bots is only making the problem worse. But the job bots at LazyApply and other services never get tired. Still, I came away from my time among the job-search bots feeling the way I do about much of AI.

Persons: they're, hadn't, Sonara, Hugo Herrera, LazyApply, American Aki, Aki Ito, Carlson, Boston Globe —, CareerBuilder, Tony Riggins, I've, Teal, Marc Cenedella, Cenedella, John Henry, —, didn't, it's, Bob, you'd, Emily Lamia, Lamia, she's, underpaid Organizations: BI, AK, Boston Globe, Employers, Bloomberg, The Boston Globe, Facebook, YouTube, Business Locations: America, American, That's

☆ Analysis-As China's Xi Summons 'New Productive Forces', Old Questions Linger for Economy
▼ + stars: | 2024-03-05 | by ( March | At P.M. | ) www.usnews.com time to read: +5 min

By James Pomfret, Kevin Yao and Ellen ZhangHONG KONG/BEIJING (Reuters) - Facing its deepest economic challenges in years, China's leadership has tasked ministries and local governments with implementing a new mantra from President Xi Jinping: unleash "new productive forces". Beijing hopes the “new productive forces” campaign will strengthen China at a time when geopolitical pressures including steps by the United States to “decouple” or “de-risk” have curtailed access to foreign technology. "To support innovation, we should give people more freedom to think and talk, because many innovations result from the collision of ideas. The new mantra was also taken up by China's state planning agency, the National Development and Reform Commission. Its annual report on Tuesday pledged support for industries including satellite internet applications, China's BeiDou Navigation Satellite System, and research into nuclear fusion.

Persons: James Pomfret, Kevin Yao, Ellen Zhang HONG, Xi Jinping, Li Qiang, Xi’s, Xi, Tianchen Xu, Li, Steve Tsang, Ellen Zhang, Nick Macfie Organizations: Communist Party, Party, Reuters, Economist Intelligence Unit, SOAS China Institute, National Development, Reform Commission Locations: Ellen Zhang HONG KONG, BEIJING, China, China’s, Beijing, United States, London, Pearl

☆ Gen AI is here to stay — here are 5 skills to help you stay relevant in the changing job market
▼ + stars: | 2024-03-04 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +4 min

Generative AI isn't just a buzzy new topic – it's revolutionizing the workforce. Generative AI is a type of artificial intelligence capable of generating images, text or other content. Nearly three in five whitecollar employees report using generative AI on a weekly basis. Oliver WymanOliver Wyman conducts monthly surveys of more than 200,000 people across 20 countries to gather data about attitudes surrounding Generative AI and other trends. "Generative AI lacks the contextual nuance and ethical judgment that humans should apply in analysis," a spokesperson for Oliver Wyman told CNBC Make It.

Persons: ChatGPT, Oliver Wyman Oliver Wyman, Oliver Wyman, we’re Organizations: McKinsey, CNBC

☆ IQiyi, the Netflix of China, posts first year of profits and says it's 'excited' about Sora
▼ + stars: | 2024-02-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Bloomberg | Bloomberg | Getty ImagesBEIJING — Chinese video content and streaming company iQiyi CFO Wang Jun said he is "excited" about potential new business opportunities with the emergence of OpenAI's text-to-video tool Sora. Speaking exclusively to CNBC on Thursday, Wang said such tools can help iQiyi tell stories more creatively, and that internally, it is exploring the text-to-video space. For 2023, iQiyi said Wednesday its original content accounted for a record 65% of major dramas it released. Other major Chinese video platforms with longer-form content include Tencent Video, Alibaba -owned Youku and Bilibili . Recent data insights show more people across China are watching iQiyi's content on internet-connected television sets, and, increasingly screens inside electric cars, Wang said.

Persons: Wang Jun, Wang, OpenAI, Sora, iQiyi Organizations: Bloomberg, Getty, CNBC, Apple Locations: BEIJING, U.S, Beijing, China

☆ AI is Uncle Sam’s new secret weapon to fight fraud
▼ + stars: | 2024-02-28 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

Starting around late 2022, the Treasury Department began using enhanced fraud-detection methods powered by AI to spot fraud, CNN has learned. Treasury’s AI-powered fraud detection recovered $375 million in fiscal 2023 alone, Treasury officials tell CNN, marking the first time Treasury is publicly acknowledging it is using AI to detect fraud. Instead, Treasury officials say the type of AI they are using falls more into the bucket of machine learning and Big Data. The goal is to move with such speed that anomalies are flagged and banks are alerted before fraudulent checks are ever cashed, Treasury officials said. Catching fraud in millisecondsAmiram Shachar, co-founder and CEO of cloud security startup Upwind, told CNN the federal government should “absolutely” use AI to detect fraud.

Persons: Sam, Sam’s, Fraudsters, Wally Adeyemo, ”, ” Shachar, Steph Curry Organizations: New, New York CNN, Treasury Department, CNN, Treasury, Data, Washington, Office, Business Administration, Social, Internal Revenue Service, IRS, Google, Facebook, Penny Jar, NBA, Mastercard Locations: New York, Banks, Washington, Hong Kong

☆ S&P 500 futures are little changed after index slips from record: Live updates
▼ + stars: | 2024-02-26 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

S&P 500 futures are near flat Monday night as the market rally took a breather. Futures tied to the broad index and Nasdaq 100 futures both traded near flat. Those moves follow a losing day on Wall Street that pulled the Dow and S&P 500 off record highs seen last week. The Dow and S&P 500 slipped 0.16% and 0.38%, respectively, while the technology-heavy Nasdaq Composite inched lower by 0.13%. "You're digesting so much of what happened last week with big earnings, and then you have big data on the horizon."

Persons: Ross Mayfield, Baird, They'll, Mayfield Organizations: New York Stock Exchange, Dow Jones, Unity Software, Dow, Walgreens Boots Alliance, Virgin Galactic, PCE Locations: New York City, U.S, PCE

☆ AI marketing startup Alembic just raised $14 million from Jeffrey Katzenberg's WndrCo and revealed Nvidia as a customer
▼ + stars: | 2024-02-15 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +3 min

Companies spend billions on marketing every year, but the question remains whether these campaigns translate into profits. San Francisco-based startup Alembic is employing big data techniques developed for contact tracing during the pandemic to answer those questions. The company today announced a $14 million Series A that included Jeffery Katzenberg, NFL-star-turned-VC Joe Montana, and Braze co-founder Mark Ghermezian. But recent advances in AI and big data technology, he says, have made it possible to track the impact of marketing spend on a granular level, in real time. Puig says the company currently has about a dozen customers, including trillion-dollar chipmaker Nvidia, which is using the technology to guide its marketing efforts.

Persons: Crypto.com, Dunkin, Ben Affleck, Jennifer Lopez, Jeffery Katzenberg, Joe Montana, Braze, Mark Ghermezian, Katzenberg, Tomas Puig, epidemiologists, Puig, Jensen Huang, it's Organizations: Mastercard, PGA, Business, Walt Disney Studios, DreamWorks, Nvidia Locations: Los Angeles, San Francisco, Covid

☆ Why AI can’t replace air traffic controllers
▼ + stars: | 2024-02-12 | by ( Amy Pritchett | ) edition.cnn.com time to read: +9 min

In the air traffic control system, everything must meet the highest levels of safety, but not everything goes according to plan. I’m an aerospace engineer who led a National Academies study ordered by Congress about air traffic controller staffing. What air traffic controllers do? The Federal Aviation Administration’s fundamental guidance for the responsibility of air traffic controllers states: “The primary purpose of the air traffic control system is to prevent a collision involving aircraft.” Air traffic controllers are also charged with providing “a safe, orderly and expeditious flow of air traffic” and other services supporting safety, such as helping pilots avoid mountains and other hazardous terrain and hazardous weather, to the extent they can. Researchers are using machine learning to analyze and predict aspects of air traffic and air traffic control, including air traffic flow between cities and air traffic controller behavior.

Persons: Tolga Akmen, Timothy Arel, Harry Reid, Ethan Miller, Amy Pritchett Organizations: CNN, National Academies, Congress, Federal Aviation, Air, FAA, London Heathrow, Tolga, Getty, U.S . Senate, Robotics, Cessna, United Airlines, Kansas City Chiefs United Airlines, Harry Reid International, Air Force One, Penn State University, National Science Foundation, Center, Aerial Mobility, NASA Locations: AFP, Las Vegas

☆ Here are Jim Cramer’s rapid-fire takes on 5 stocks in the news Tuesday
▼ + stars: | 2024-02-06 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +1 min

Broadcom – JPMorgan reinstated coverage on Broadcom , also a Club stock, following a period of restrictions. Jim said of Broadcom: "Those who don't own this stock, I'd still buy it." "Gross margins are really good. "They are really cyber terror. They are actually terror," Jim said, meaning Palantir focuses its big data protection against cyber terrorists.

Persons: Rich Galanti, Gary, Millerchip, Rich, Jim Cramer, Cramer, Jim, Palantir, DocuSign Organizations: Costco, Kroger, CNBC, Club, Broadcom, JPMorgan, Computer, Spotify, Palo

☆ How much TikTok pays employees in the US, from data scientists to software engineers, according to salary data
▼ + stars: | 2024-01-19 | by ( Ashley Rodriguez | Dan Whateley | ) www.businessinsider.com time to read: +109 min

Some examples of salary offers for corporate functions include:AdvertisementAccountant, Expense Management : $73,000: $73,000 HR Business Partner : $127,680 median; ranging from $90,000 to $182,880: $127,680 median; ranging from $90,000 to $182,880 HR Specialist: $114,000 median; ranging from $85,000 to $170,000DesignEmployees on the design team "shape the visual representation" of TikTok's products and business, creating "unique designs that are not just visually appealing, but also express the aesthetic of our brand," the company wrote. : $320,000: $320,000 Android Software Engineer, TikTok Monetization : $210,000: $210,000 Android Software Engineer, TikTok Privacy : $190,000: $190,000 Android Software Engineer, TikTok Social : $126,640 median; ranging from $65,000 to $288,000: $126,640 median; ranging from $65,000 to $288,000 Android Software Engineer, TikTok User Growth : $227,000 median; ranging from $221,000 to $233,000: $227,000 median; ranging from $221,000 to $233,000 Applied Machine Learning Engineer : $273,340 median; ranging from $180,000 to $306,000: $273,340 median; ranging from $180,000 to $306,000 Applied Machine Learning Engineer, Recommendation : $190,000: $190,000 AR Effects Interactive Engineer : $125,000: $125,000 AR Software Engineer : $125,000: $125,000 Audio Engineer : $75,000: $75,000 Backend Engineer : $128,000: $128,000 Backend Engineer, Ads Platform : $172,000 median; ranging from $125,000 to $240,000: $172,000 median; ranging from $125,000 to $240,000 Backend Engineer, Content Ecosystem : $222,360: $222,360 Backend Engineer, Lark Innovation : $160,000: $160,000 Backend Engineer, Machine Learning : $157,680 median; ranging from $157,680 to $175,000: $157,680 median; ranging from $157,680 to $175,000 Backend Engineer, Risk Systems : $295,000 median; ranging from $150,000 to $320,000: $295,000 median; ranging from $150,000 to $320,000 Backend Engineer, TikTok Ads Creative and Ecosystem : $250,000: $250,000 Backend Engineer, TikTok Ads Creativity and Ecosystem : $207,500 median; ranging from $175,000 to $240,000: $207,500 median; ranging from $175,000 to $240,000 Backend Engineer, TikTok Eng. : $220,000 median; ranging from $160,000 to $285,000 0 #NUM! Software Engineer, Computer Vision : $165,000 median; ranging from $165,000 to $200,000: $165,000 median; ranging from $165,000 to $200,000 Software Engineer, Computer Vision, Intelligent Creation : $200,000 median; ranging from $200,000 to $265,000: $200,000 median; ranging from $200,000 to $265,000 Software Engineer, Core Services : $204,000 median; ranging from $125,000 to $244,680: $204,000 median; ranging from $125,000 to $244,680 Software Engineer, Core Service, Application Security : $129,680: $129,680 Software Engineer, CRM : $175,000 median; ranging from $125,000 to $300,555: $175,000 median; ranging from $125,000 to $300,555 Software Engineer, Data Access Team : $230,000: $230,000 Software Engineer, Data Mining : $169,680: $169,680 Software Engineer, Data Mining USDS : $182,400: $182,400 Software Engineer, Data Platform : $186,000 median; ranging from $170,000 to $216,880: $186,000 median; ranging from $170,000 to $216,880 Software Engineer, Data Security and Compliance : $180,000: $180,000 Software Engineer, Database Kernel Development : $130,000 median; ranging from $128,000 to $220,000: $130,000 median; ranging from $128,000 to $220,000 Software Engineer, Distributed Storage System : $285,000 median; ranging from $180,000 to $285,000: $285,000 median; ranging from $180,000 to $285,000 Software Engineer, Engineering Productivity : $195,000: $195,000 Software Engineer, Front-End : $147,000: $147,000 Software Engineer, Front-End, Ads Technology : $125,000: $125,000 Software Engineer, Full Stack : $180,000: $180,000 Software Engineer, Full Stack, Ads Technology : $147,500 median; ranging from $125,000 to $170,000: $147,500 median; ranging from $125,000 to $170,000 Software Engineer, Full Stack, E-Commerce Engineering and Architecture : $205,000: $205,000 Software Engineer, Full Stack, Vertical Solutions : $220,000: $220,000 Software Engineer, Global E-Commerce Customer Business : $195,000 median; ranging from $133,240 to $225,000: $195,000 median; ranging from $133,240 to $225,000 Software Engineer, Global Payment : $161,000 median; ranging from $155,000 to $215,000: $161,000 median; ranging from $155,000 to $215,000 Software Engineer, Gov. and Experience, TikTok E-Commerce : $241,540 median; ranging from $219,680 to $263,400: $241,540 median; ranging from $219,680 to $263,400 Software Engineer, GPU Management : $128,000 $128,000 $128,000 0 #NUM!

Persons: —, It's, TikTok, it's, ByteDance, TikTok Eng, Tiktok Organizations: Service, Business, US, of Foreign Labor, Live, US Data Security, Security, US Department of Labor, Corporate, Employees, TikTok, Tech, Commerce, Marketing, Staff, Trust, Safety, Brand, Android Software, Computer, Global Agency Relations, Global Security Technology, Infrastructure Engineering, Android, Machine, Interactive, Systems, Data Systems, Engineer, Commerce Data Intelligence, Commerce Logistics, Chain, Logistics, Media, US Tech Services, Big, Business Intelligence, Protection, Network Security, Business Systems, Cash, Cloud, Networking Software, Public, Tech Service, Technology, Technology Systems, Infrastructure, Network Business, NA, Defense, US Tech Service, Analytics, Research, Mining, Solutions, Tech Services, Pico, Forensics, Development, Control, Financial, CRM, Global, Learning, Traffic, TCMS, Communications, Graphics, Monetization Technology, Management, Products, Resources, IDC Logistics, DevOps, IOS, GNE Global, Software, Procurement, Commerce Global, Strategic, Global Business, Merchant, Mobile Security, Mobile Software, Multimedia Research, Regional, Sound Engineering, Professional Services, Community, Relations, Real, Commerce Trading, Creative, Enterprise, Virtual Network, Storage, Data Security, Smart, Finance, ML Systems, Cloud Infrastructure, TikTok US Tech Services, Monetization Tech, Learning Systems, Core Services, Core Service, Data Mining, Engineering, Commerce Engineering, Mobile, Revenue Management Locations: ByteDance, TikTok, TikTok Commerce, America, Mexico, Americas, Commerce

☆ Opinion | How Hot Was It Last Year?
▼ + stars: | 2024-01-17 | by ( David Wallace-Wells | ) www.nytimes.com time to read: +2 min

That threshold describes a long-term average rather than a single-year anomaly. But because it describes a multidecade average, the measure will always be backward-looking, with the precise moment the world crossed the 1.5 mark clear only in retrospect. This year a handful of prominent scientists have suggested that when we do look back to mark that time, we may well circle 2023. Not that long ago, it would have been pretty contentious to suggest that the world’s most ambitious climate goal was already lost. Perhaps 2024 is the year we may finally be ready to retire it publicly, too.

Persons: — Organizations: Berkeley Earth, Global Locations: Paris

☆ Meet the portfolio manager who oversees the best performing stock fund this year
▼ + stars: | 2023-12-29 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Alex Umansky is the man behind the best performing equity mutual fund this year. Baron Fifth Avenue Growth (BFTIX) , with nearly $500 million in assets under management, has rallied more than 58% this year, taking the No.1 spot for a winning stock fund in 2023, according to Morningstar. Umansky, who's been in the industry for 30 years, is the sole portfolio manager for the fund. Umansky's fund seeks to find long-term, durable growth opportunities in the large-cap space. The manager also has a long-term approach to growth investing where he views a stock as a piece of the business.

Persons: Alex Umansky, who's, Morningstar, Umansky Organizations: Baron, Nasdaq, New York University, Nvidia, Tesla

☆ AI is accelerating the recruitment process — but tech leaders warn of bias and other risks
▼ + stars: | 2023-12-20 | by ( Nicholas Fearn | ) www.businessinsider.com time to read: +11 min

HR and recruitment teams are beginning to use AI tools in multiple stages of the hiring process. But beware: AI recruitment can still be riskyWhile AI technology is helping recruiters in many ways, there are some risks to consider and mitigate. In 2022, researchers at Cambridge University found that AI recruitment tools weren't capable of eradicating bias or boosting diversity during the hiring process. These problems often arise because of biased historical data used for training AI recruitment technologies, Maynard said. Jackson recommended that companies develop strict policies governing the use of AI hiring tools and provide their recruitment teams with bias training.

Persons: —, Lindsey Zuloaga, HireVue, Pamela Maynard, Avanade, Maynard, Paolo Pescatore, Alexandra Levit, Levit, Roger Philby, she'd, it's, Annie Jackson, Cleo, Jackson, Parul Mishra, It's, Mishra Organizations: Service, Tech, Business, Chemistry Group, Sheffield Business School, Cambridge University, Amazon, Unilever, Microsoft, Companies, IBM

We're adding to our Eaton position after learning about data center news that makes us even more bullish about this power management company. Late Thursday, Blackstone and Digital Realty announced a huge joint venture to develop $7 billion worth of data centers across Europe and North America. News like this is fantastic for Eaton, whose largest end market by sales is Data Centers & Distributed IT, representing about 15% of sales. In the press release announcing the deal, Gray said, "Data centers are experiencing once-in-a-generation demand growth, driven by cloud adoption and the AI revolution." AI data centers require both higher power and higher power density relative to traditional data centers, resulting in three times the electric content.

Persons: Jim Cramer's, Eaton, Jon Gray, Blackstone, Gray, Jim Cramer, Jim, Brendan Mcdermid Organizations: ETN, Blackstone, Digital Realty, Centers, Data Center, Data, CNBC, New York Stock Exchange Locations: Eaton, Europe, North America, New York City, U.S

☆ WindCORES cuts emissions by putting data centers inside wind turbines
▼ + stars: | 2023-12-05 | by ( Arya Jyothi | ) edition.cnn.com time to read: +7 min

CNN —Accounting for up to 1.5% of global electricity use, data centers are fueling the climate crisis. WindCORES, a subsidiary of German renewable electricity company WestfalenWIND, operates data centers inside wind turbines located in a wind park in the Paderborn district in western Germany, which the company says makes the centers almost carbon neutral. The concept uses existing wind turbines to power data centers on site, while fiber optic cables provide a constant internet connection. WindCORES estimates that the unused electricity generated during this period could power one-third of all German data centers. Zattoo joined windCORES in 2020, when it moved one of its six data centers into a wind turbine in Paderborn.

Persons: ”, Fiete Dubberke, Dubberke, WestfalenWIND, windCORES, Zattoo, Viliyana Ivanova, “, Viliyana, windCORES Dubberke, Zattoo’s, Asim Hussain, that’s, they’ve, ” Hussain, ” WindCORES, Klee Organizations: CNN, windCORES, Green Software Foundation Locations: Paderborn, Germany, “, ”, Lichtenau, Munich

☆ In Congress and in class: Rep. Don Beyer works toward master's degree in AI
▼ + stars: | 2023-12-02 | by ( Emily Wilkins | ) www.cnbc.com time to read: +3 min

Rep. Don Beyer, D-Va. Bill Clark | CQ-Roll Call, Inc. | Getty ImagesWASHINGTON — Don Beyer isn't the average student at George Mason University. So he enrolled, starting with the prerequisite classes that will ultimately lead him to a master's degree in machine learning. Beyer is part of almost every group of House lawmakers working on AI. He was also a member of former Speaker Kevin McCarthy's working group on AI, which could be resurrected under Speaker Mike Johnson. Obernolte, who has a masters degree in artificial intelligence, said there's no shortage of smart lawmakers on AI, including Beyer.

Persons: Don Beyer, Bill Clark, Getty Images WASHINGTON — Don Beyer isn't, Beyer, Kevin McCarthy's, Mike Johnson, he's, Sam Altman, Jay Obernolte, Johnson, Obernolte, Don Organizations: CQ, Inc, Getty Images WASHINGTON, George Mason University, He's, The, The Virginia Democrat, CNBC, Congressional Artificial Intelligence Caucus, The New Democrat Coalition Locations: The Virginia

Eventually, China wants the schemes to be integrated into national emissions trading and generate credits that can offset emissions by industrial polluters, government plans show. PERSONAL CARBON TRADINGChina's carbon inclusion ambitions have been in gestation since 2015, when the southeastern province of Guangdong published rules on how to convert low-carbon activity into credits. Guangdong also allows enterprises to meet 10% of carbon reduction obligations through carbon inclusion credits. And there are worries the carbon inclusion schemes could let industrial polluters off the hook by shifting the burden of emission cuts to households. China climate official Su Wei told local media the green transformation of China would "inevitably involve profound changes in people's daily habits and consumption patterns", but he said carbon inclusion schemes would remain voluntary.

Persons: David Kirton, China's, Xie Zhenhua, Banks, Benjamin Sovacool, Li, Zhang Xin, people's, Yaqiu Wang, Su Wei, David Stanway, Sonali Paul Organizations: REUTERS, China, Communist, China Academy of Sciences, People's Bank of, Boston University, Environmental Studies, New, Thomson Locations: Pingshan district, Shenzhen, Guangdong province, China, SHENZHEN, Dubai, Guangdong, People's Bank of China, Quzhou, Finland, British, Singapore, New York, Shanghai, Beijing

☆ Analysis-China Turns to Households in Fight to Slash Carbon Emissions
▼ + stars: | 2023-11-26 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +7 min

Eventually, China wants the schemes to be integrated into national emissions trading and generate credits that can offset emissions by industrial polluters, government plans show. PERSONAL CARBON TRADINGChina's carbon inclusion ambitions have been in gestation since 2015, when the southeastern province of Guangdong published rules on how to convert low-carbon activity into credits. Other countries have toyed with the idea of personal carbon trading, with pilot schemes set up in Finland and Australia's Norfolk Island. Guangdong also allows enterprises to meet 10% of carbon reduction obligations through carbon inclusion credits. And there are worries the carbon inclusion schemes could let industrial polluters off the hook by shifting the burden of emission cuts to households.

Persons: David Stanway, David Kirton, China's, Xie Zhenhua, Banks, Benjamin Sovacool, Li, Zhang Xin, people's, Yaqiu Wang, Su Wei, Sonali Paul Organizations: Communist, China Academy of Sciences, People's Bank of, Boston University, Environmental Studies, New Locations: China, Shenzhen, Dubai, Guangdong, People's Bank of China, Quzhou, Finland, British, Singapore, New York, Shanghai, Beijing

[1/5] Russian President Vladimir Putin delivers a speech during a plenary session of the Artificial Intelligence Journey 2023 international AI and machine learning conference in Moscow, Russia November 24, 2023. Sputnik/Mikhail Klimentyev/Kremlin via REUTERS Acquire Licensing RightsSummaryCompanies Putin to approve new AI strategy soonChina and U.S. lead on AI currentlyRussian AI has been set back by Ukraine war, sanctionsPutin calls Russia to up its game on AIMOSCOW, Nov 24 (Reuters) - President Vladimir Putin on Friday warned that the West should not be allowed to develop a monopoly in the sphere of artificial intelligence (AI), and said that a much more ambitious Russian strategy for the development of AI would be approved shortly. "In all spheres of our life, humanity is beginning a new chapter of its existence," Putin said of AI, adding that Russia needed to up its game on AI both in ambitions and execution. Russia, he said, would have to change laws, boost international cooperation, and ensure much more investment for the development of AI. He told Putin in June that Sberbank was making around $3 billion annually from $1 billion in AI investments.

Persons: Vladimir Putin, Mikhail Klimentyev, Putin, Gref, Sberbank, Guy Faulconbridge, Gareth Jones, Mark Potter Organizations: Artificial, Sputnik, REUTERS Acquire, MOSCOW, Thomson Locations: Moscow, Russia, Kremlin, China, U.S, Russian, Ukraine, United States, India, Israel, South Korea, Japan

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