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AI KILLS WALL STREET JOBS

Plus Is TikTok An AI-Powered Subversion Weapon?

AI Shakes Up Wall Street’s Entry-Level Jobs

Generative AI is revolutionizing Wall Street, threatening the traditional grunt work that has long been the foundation of investment banking careers. Tasks like creating PowerPoint presentations, managing Excel spreadsheets, and drafting financial documents are now efficiently handled by AI, potentially diminishing the need for entry-level analysts. As AI quickly integrates into corporate finance, offering rapid and complaint-free solutions, major banks are faced with reevaluating the necessity and structure of these foundational roles.

TikTok Dubbed ‘AI-Powered Weapon’ by OpenAI Investor

Vinod Khosla, an investor in OpenAI, labels TikTok an “AI-powered subversion weapon” controlled by China, arguing it could manipulate U.S. citizens. Advocating for TikTok’s divestiture from ByteDance, Khosla highlights the potential for the platform to serve the Chinese Communist Party’s goals. The debate centers on national security, echoing concerns over TikTok’s algorithmic influence and its comparison to China’s regulated version, Douyin. This stance aligns with broader U.S. apprehensions about TikTok’s influence and security implications.

Sam Altman Aims for Global AI Infrastructure Coalition

Sam Altman, CEO of OpenAI, is seeking to create a global coalition to enhance AI’s underlying infrastructure, focusing on the supply of chips, energy, and data center capacity crucial for AI development. His recent discussions with investors and government officials, including in the UAE, aim to support large-scale AI infrastructure and explore investments for a semiconductor factory network. Altman’s initiative extends beyond chip production, addressing energy and data center needs, highlighting the significance of efficient energy sources for AI’s future.

AI Innovation Race Intensifies with New Model Releases by OpenAI, Google, and Mistral

In a competitive surge within the AI industry, OpenAI, Google, and French startup Mistral have launched new AI models, signaling a heated race for advancement. This series of releases anticipates the upcoming launch of GPT’s next version by OpenAI. Google unveiled Gemini Pro 1.5, featuring multimodal capabilities, shortly after Nick Clegg announced Meta’s Llama 3 model. OpenAI followed with GPT-4 Turbo, also supporting image inputs. Mistral released Mixtral 8x22B, adopting an open-source model for broader access, despite debates over potential risks.

Humane AI Pin Review: A Futuristic Idea That Fails to Deliver

The Humane AI Pin, priced at $699 with a $24 monthly subscription, aims to offer a post-smartphone future, leveraging AI for seamless interaction. Despite its ambition to reduce screen time and facilitate easier access to phone functionalities, the AI Pin struggles with numerous flaws, from basic feature absences to unreliable performance and overheating issues. Promising features like voice commands, translation, and a unique projector interface are undermined by inconsistent results and a complex user experience. This review highlights the AI Pin’s potential for innovation but ultimately concludes it’s not yet a viable alternative to smartphones.

Best Buy Adopts AI, Phases Out Geek Squad and Phone Support Staff

Best Buy is restructuring, leading to layoffs of Geek Squad, home-theater technicians, and phone support staff, focusing on AI for customer support. The company, offering severance and reemployment opportunities, hasn’t disclosed the number of layoffs. The shift towards AI, in collaboration with Google and Accenture, aims to improve efficiency and customer service. This move is part of Best Buy’s broader strategy to adapt to declining sales and invest in future areas.

Texas Introduces AI for Grading State Exams, Promising Major Savings

Texas is transitioning to an artificial intelligence-powered grading system for its State of Texas Assessments of Academic Readiness (STAAR) exams, aiming to save $15–$20 million annually. The “automated scoring engine” employing natural language processing, similar to technology behind chatbots like ChatGPT, will assess open-ended questions. This shift means fewer human graders will be needed, with the Texas Education Agency planning to hire under 2,000 graders in 2024, down from 6,000 the previous year. Despite the anticipated savings, some educators express concerns over increased zero scores and the reliability of AI grading.

AI’s Potential Impact on Politics and Society Viewed Pessimistically by Americans

A recent study by Dartmouth’s Polarization Research Lab reveals widespread American concern over artificial intelligence’s influence on politics and society. Surveying over 2,900 individuals, the research highlights fears of AI exacerbating election incivility and jeopardizing national security and personal privacy. While 50% anticipate AI’s negative effects on upcoming elections, 65% fear for their privacy, and half worry about job security.

Exploring the Complexity of AI Intelligence Beyond Human Comparisons

The quest for AI to surpass human intelligence continues, yet experts argue this comparison is flawed, emphasizing AI’s unique capabilities rather than mirroring human intellect. AI’s potential lies in addressing needs distinct from human cognitive functions, moving beyond the limited comparison to human intelligence toward understanding and leveraging AI’s unique strengths. This perspective encourages exploring AI’s applications in novel ways, enriching both technology and society.

AI Enhances Learning in Palm Beach Schools

Palm Beach County School District adopts Khanmigo, an AI program from Khan Academy, to offer personalized learning. Deployed in nine schools, including Santaluces Community High School, Khanmigo assists students with assignments through a chatbot interface, fostering problem-solving skills without directly providing answers. This initiative supports both students and teachers by offering tutoring, lesson planning, and grading tools. The program will expand to all district high schools next year, marking a significant step in integrating AI into education.

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