Day: May 4, 2023

By Lucas Mearian The Biden administration today announced a new effort to address the risks around generative artificial intelligence (AI), which has been advancing at breakneck speeds and setting off alarm bells among industry experts. Vice President Kamala Harris and other administration officials are scheduled to meet today with the CEOs of Google, Microsoft, OpenAI, the creator of the popular ChatGPT chatbot, as well as with AI-startup Anthropic. Administration officials plan to discuss the “fundamental responsibility” those companies have in ensuring their AI products are safe and protect… Read More “White House unveils AI rules to address safety and privacy”

How can we keep Europe’s competitiveness and social model in a rapidly changing environment? This was at the heart of the debate at this year’s Brussels Economic Forum organised by the European Commission on Thursday amidst experts’ warning that artificial intelligence has become a reality and machines can soon outperform humans in some specific tasks. The European Commissioner for Economy, Paolo Gentiloni, insisted that the only way Europe can make it is by preserving its social “acquis”, and addressing the tremendous need for investments while transitioning into a digital economy. “It has to… Read More “The EU needs ‘mountain of investments’ but not at the expense of its social model, Commissioner says”

By ARUN SANKAR / AFP Instagram has been working on a new tool based on artificial intelligence. With this feature users will be able to generate visuals directly on the app. Here’s what we know. Instagram has been working on a new tool based on artificial intelligence. With this feature users will be able to generate visuals directly on the app. Here’s what we know. TikTok, LinkedIn, Snapchat and Facebook have all jumped on the bandwagon; now the ‘other’ social network of the Meta group is developing new features based on artificial intelligence. While not everyone is convinced whether the uti… Read More “Instagram’s latest new feature is powered by AI”

By Nandita Bose and David Shepardson WASHINGTON (Reuters) -President Joe Biden met with CEOs of top artificial intelligence companies including Microsoft and Alphabet’s Google on Thursday and made clear they must ensure their products are safe before they are deployed. Generative artificial intelligence has become a buzzword this year, with apps such as ChatGPT capturing the public’s fancy, sparking a rush among companies to launch similar products they believe will change the nature of work. Millions of users have begun testing such tools, which supporters say can make medical diagnoses, writ… Read More “Biden meets Microsoft, Google CEOs on AI dangers”

Microsoft Corp. plans to develop a $1 billion data center campus in Mount Pleasant, Wisconsin, a village near the Illinois border. The internet giant will pay $50 million for a slice of land left empty for years after a high-tech factory meant to transform the region’s economy was not built. Taiwan-based Foxconn Technology Group forged an agreement in 2017 with former Gov. Scott Walker to manufacture LCD screens in Mount Pleasant, investing $10 billion and employing 13,000, in return for billions in subsidies. But the company, a top manufacturer of Apple’s iPhones, downsized its plans and crea… Read More “Microsoft to build $1 billion data center on Wisconsin site once set aside for failed Foxconn deal”

The Federal Reserve has increased its benchmark rate by 25 basis points to 5.1%, continuing its drive to cool inflation. This is the Fed’s 10th straight hike; the benchmark rate is the highest in 16 years. However, with the market expecting a pause in its latest policy meeting, the Fed did not mention “Some additional” rate hike being needed, contrary to its previous statement. According to Chairman Jerome Powell, Fed officials can step back and assess the impact of the higher rates on growth and inflation as well as monitor other factors, including the turmoil in the banking sector, to determ… Read More “Build Up Your Portfolio’s Defense With These 3 Highest Yielding Dividend Aristocrats!”

By Andrey Sychev (Reuters) -Adecco Group beat first-quarter sales expectations on Thursday as companies turned to temporary workers after laying off staff to cope with economic uncertainty. The group reported an 8% rise in quarterly sales to 5.89 billion euros ($6.53 billion), beating analysts’ consensus forecast of 5.83 billion euros. Sales in its biggest unit Adecco, which offers permanent and flexible staffing services, grew 3% organically and brought in two-thirds of revenues in the quarter, underpinned by resilient demand for temporary workers. The division’s result was especially strong … Read More “Adecco sales top forecast as corporate Europe hires temps”