Tag: Services

Finance Jobs Will Be Changed the Most by AI, Report Says

Finance Jobs Will Be Changed the Most by AI, Report Says

The threat from artificial intelligence (AI) to millions of repetitive, lower-paying jobs is a big factor in the future of business. But a new study predicts most of those changes in employment will show up in the finance sector , where over half the sector’s roles were determined to be "most prone to automation."

The authors of those findings on AI’s impact in banking should know what they’re talking about: They’re tech experts at banking giant Citigroup. Their " AI in Finance : Bot, Bank & Beyond" report was released Wednesday, and immediately turned heads with its forecast that fully […]

Nvidia’s New AI Simulator Could Rev Up Robotics, Self-Driving Cars

Nvidia’s New AI Simulator Could Rev Up Robotics, Self-Driving Cars

Nvidia, AI, autonomous vehicles, sensors, digital twins Chip maker Nvidia announced on Monday (June 17) a new type of artificial intelligence (AI) simulation software in an attempt to turbocharge the development of self-driving cars and robots.

The Omniverse Cloud Sensor RTX was unveiled at the Computer Vision and Pattern Recognition conference and aims to offer physically accurate sensor simulation. The tech titan’s announcement underscores the sensor industry’s growing importance . A

The new software combines real-world data from various sensors with synthetic data, supposedly allowing developers to test sensor perception and associated AI software in realistic virtual environments before real-world deployment. […]

Citi: AI Will Impact Finance Sector Job Market the Most

Citi: AI Will Impact Finance Sector Job Market the Most

Which industry’s job market will be most impacted by artificial intelligence (AI)? According to a new report by Citi , a little more than half — 54% — of jobs in the banking sector have a higher potential for automation, while another 12% could be augmented by AI.

“AI-powered clients could increase price competition in the finance sector. The balance of power may shift,” the banking giant said in the intro to the report. “AI may be adopted faster by digitally native, cloud-based firms, such as FinTechs and BigTechs, with agile incumbent banks following fast. Many incumbents, weighed down by […]

The Evolution of Digital Labor Market Trends

The Evolution of Digital Labor Market Trends

A Paradigm Shift in the IT Sphere – The realm of information technology is undergoing a seismic transformation, marked by a distinct shift towards specialized professionalism and the automation of menial tasks. This evolution is reshaping the landscape of digital labor, with a notable impact on freelance professionals lacking advanced expertise. Those who have not reached elevated levels of skill within their domain are poised to bear the brunt of this change, while experienced “seniors” and individuals specializing in niche programming languages stand to benefit.

Shifts in Demand and Income – Recent studies have illuminated a concerning trend: income […]

“With the introduction of intelligent robots with the evolution of generative artificial intelligence (AI), it can promote automation of blue-collar jobs and exacerbate income and wealth inequality.” The governments of each country should hurry to come up with measures.”

Pointing out the possibility of a decrease in high-skilled jobs Urged to come up with measures such as education and unemployment insurance ChatGPT embodies a future society where AI replaces jobs. "With the introduction of intelligent robots with the evolution of generative artificial intelligence (AI), it can promote automation of blue-collar jobs and exacerbate income and wealth inequality." The governments of each country should hurry to come up with measures."

The International Monetary Fund (IMF) pointed out this in a report titled "Expanding the Advantages of Generative AI: The Role of Fiscal Policy" on the 17th (local time). The AI […]

Transformative Growth with AI is Likely. Explosive Growth is Science Fiction.

A couple weeks back, Tim Lee, the author of the Understanding AI Substack, put out the following plea on X : “I really wish there were more economists involved in discussions of the implications of superintelligence.” He added, “The most obvious example is people predicting mass unemployment without thinking through the impact of high productivity on fiscal and monetary policy.”

In our previous Techne , I decided to take on Lee’s plea and began by looking at the past. This week, I want to share some thoughts about how Large Language Models (LLMs) like ChatGPT might shape the future.

I […]

If AI is so good, why are there still so many jobs for translators?

If AI is so good, why are there still so many jobs for translators?

Lost in automation? Earlier this year, a drumbeat of news headlines played into public anxieties about the safety of human jobs when Duolingo, a language learning app, became a prominent example of a company cutting workers and replacing them with artificial intelligence.

The most eye-catching job cuts were those for translators, who worked on some of the company’s less popular language education courses. Translators and interpreters are often near the top of media listicles as the jobs most likely to be killed by AI. When the stories about Duolingo’s job cuts circulated, they seemed to confirm that the inevitable AI […]

The CEO and founder of Crown Digital believes his robot barista is poised to be at the forefront of F&B automation

The CEO and founder of Crown Digital believes his robot barista is poised to be at the forefront of F&B automation

Photo: Lawrence Teo, Athirah Annissa Sum up your job in five words.

How about a coffee first?

Why is your work important to the world today? The F&B industry consistently grapples with challenges, including labour shortages and steep overhead expenses such as leasing, labour, and training, which result in low profit margins and rising consumer costs. With the resurgence of AI and robotics , technology has emerged as an indispensable component of our lives, positively impacting aspects of society, the economy, and daily living. READ NEXT Rusydi Khairul, CEO of Reactor School on his plans to help future leaders […]

View: Manufacturing isn’t about jobs but key to balancing trade deficits, securing geopolitical security

View: Manufacturing isn’t about jobs but key to balancing trade deficits, securing geopolitical security

Wake up and smell the straw Somnath Mukherjee

In a famous barnstorming speech, then-US senator Richard Nixon, battling charges of embezzlement of election funds, made an emotional appeal to voters. He invoked his modest background, attacked his opponents and, most memorably, declared his intention to retain one ‘gift’, a dog his kids called Checkers.

Since then, the ‘Checkers Speech’ has become famous in the US as a storied instance of the ‘straw man’ phenomenon. His critics had said nothing about a pet dog. But Nixon pivoted the narrative by putting Checkers at the centre of the critique. He succeeded, winning […]

Artificial Intelligence: Opportunities and Risks

Artificial Intelligence: Opportunities and Risks

Pontiff’s Perspective on AI
Pope Francis made a significant appearance at a technology summit discussing artificial intelligence, emphasizing the dual nature of AI – its potential opportunities and inherent risks. Instead of merely providing quotes, details of his message are highlighted.

Focusing on Human Agency
The pontiff stressed the importance of recognizing human decision-making capabilities in the era of AI. While artificial intelligence operates based on defined criteria or statistical conclusions, humans possess the unique ability to make choices from the heart. He emphasized that crucial decisions should always remain in human hands to preserve human dignity […]