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Nokia plans to cut up to 14,000 jobs after sales and profits plunge in a weak market

20Oct

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Technology

Nokia plans to cut up to 14,000 jobs after sales and profits plunge in a weak market

[ad_1] Telecom gear maker Nokia said Thursday that it is planning to cut up to 14,000 jobs worldwide, or 16% of its workforce, as part of a push to reduce costs following a plunge in third-quarter sales and profit.The Finnish company, one of the world's main suppliers of high-speed 5G wireless networks, said it's trying “to navigate the current market uncertainty" as higher interest rates take a toll. We are now on WhatsApp. Click to join. The company said it is aiming to slash 800 million euros ($843 billion) to 1.2 billion euros in costs by the end of 2026. That is expected to lead to a reduction from 86,000 employees to between 72,000 and 77,000 over that time period.Nokia's third-quarter sales plummeted 20%, to 4.98 billion euros from 6.24 billion in the same three-month period last...

PwC Offers Advice From Bots in Deal With ChatGPT Firm OpenAI

17Oct

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Technology

PwC Offers Advice From Bots in Deal With ChatGPT Firm OpenAI

[ad_1] PricewaterhouseCoopers LLP has teamed up with ChatGPT owner OpenAI to offer clients advice generated by artificial intelligence as the Big Four audit firms look to cut costs and boost productivity.The accounting firm will use AI to consult on complex matters in tax, legal and human resources, such as carrying out due diligence on companies, identifying compliance issues and even recommending whether to authorize business deals. The tie-up makes PwC the first of the Big Four to partner with OpenAI, which is regarded as one of the companies at the forefront of generative AI technology with its ChatGPT chatbot. The major audit firms have been cutting costs to cope with a slowdown in professional services. PwC is freezing pay increases and bonuses for some of its 25,000 UK staff, Del...

It’s Done. The Future Is Battery-Powered Electric Cars

6Oct

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Technology

It’s Done. The Future Is Battery-Powered Electric Cars

[ad_1] The rise of electric cars is staggering.Over the past decade, Teslas have gone from being the car of the uber rich to the car of the Uber driver. All of the major automakers are taking the plunge on EVs, which is driving down prices and expanding available options. Globally, this year will see more than 14 million electric cars sold, according to BloombergNEF, compared with just 700,000 in 2016. And some 23 countries have now passed a crucial EV tipping point — 5% of new-car sales — after which adoption picks up dramatically. In China, the biggest EV market, 38% of new-car sales were electric in August. “We're off to the races on EV adoption in China now,” says Colin McKerracher, head of Advanced Transport at BloombergNEF, on this week's episode of Zero. Despite the tacit consens...

Jamie Dimon Sees AI Giving a 3 1/2-Day Workweek to the Next Generation

3Oct

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Technology

Jamie Dimon Sees AI Giving a 3 1/2-Day Workweek to the Next Generation

[ad_1] Jamie Dimon, CEO and chair at JPMorgan Chase, said artificial intelligence is already being used by thousands of employees at his bank, and is likely to make dramatic improvements in workers' quality of life, even if it eliminates some jobs. “Your children are going to live to 100 and not have cancer because of technology,” Dimon said in an interview on Bloomberg TV Monday. “And literally they'll probably be working three-and-a-half days a week.”Dimon, who has called AI “critical to our company's future success,” previously said the technology can be used to help the firm develop new products, drive customer engagement, improve productivity and enhance risk management. The New York-based firm advertised for more than 3,500 related roles between February and April, according to da...

Hollywood Screenwriters Reach Deal to End Five-Month Strike

25Sep

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Technology

Hollywood Screenwriters Reach Deal to End Five-Month Strike

[ad_1] Striking Hollywood screenwriters reached a tentative new labor agreement with studios including Walt Disney Co. and Netflix Inc., settling one of two walkouts that have shut down film and TV production.The Writers Guild of America, which represents more than 11,500 Hollywood scribes, said Sunday it reached the deal with the Alliance of Motion Picture & Television Producers, the studios' bargaining group. The agreement, if approved by the guild members, will end a strike that began on May 2. The provisional three-year deal remains subject to the completion of contract language and recommendations from the union's council and board, which could come as soon as Tuesday. Members would vote after that, although the union leadership may give them permission to return to work before...

AI is reshaping the workplace – but what does it mean for the health and well-being of workers?

31Aug

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Technology

AI is reshaping the workplace – but what does it mean for the health and well-being of workers?

[ad_1] The business landscape has undergone a significant shift over the past few years because of artificial intelligence (AI). This technological advancement has innovated business practices and is changing the way we work.Businesses are increasingly turning to AI to solve problems and perform tasks that have traditionally required human intelligence. Across different industries and occupations, AI is being used to detect patterns, make predictions and even create content. However, the rapid rate of AI adoption is putting workplaces at risk of overlooking its potentially adverse impacts, particularly those that could impact the health and well-being of workers. AI in the workplaceThe type of AI currently being used in workplaces has a narrowly defined role. It primarily augments the w...

5 things about AI you may have missed today: Alibaba launches AI models, Microsoft President warns against AI and more

25Aug

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Technology

5 things about AI you may have missed today: Alibaba launches AI models, Microsoft President warns against AI and more

[ad_1] AI Roundup: Microsoft President Brad Smith today warned against the rapid development of AI as it could lead to tech companies making similar mistakes as the early years of social media. On the other hand, IBM CEO Arvind Krishna claimed that AI could not only increase productivity, but also lower business costs.All this, and more in our today's AI roundup. 1. Alibaba launches two AI modelsWith the growing demands in the field of AI, Alibaba launched two AI models on Friday. As per a CNBC report, the two models, named Qwen-VL and Qwen-VL-Chat, will be open source, allowing developers around the world to utilize them. The Qwen-VL-Chat bot is capable of carrying out more complex conversations than its predecessor and it can answer a multitude of questions. It can also generate image...

AI likely to augment rather than destroy jobs: UN study

22Aug

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Technology

AI likely to augment rather than destroy jobs: UN study

[ad_1] Artificial Intelligence is more likely to augment jobs than to destroy them, a UN study indicated on Monday, at a time of growing anxiety over the potential impact of the technology.The launch in November of the generative AI platform ChatGPT, which is capable of handling complex tasks on command, was seen as a tech landmark foreshadowing a potentially dramatic transformation of the workplace. But a fresh study from the United Nations' International Labour Organization (ILO) examining the potential effect of that and other platforms on job quantity and quality suggests that most jobs and industries are only partially exposed to automation. Most are "more likely to be complemented rather than substituted by the latest wave of Generative AI, such as ChatGPT", the ILO said."Therefor...

5 things about AI you may have missed today: Jio Institute unveils AI program, farmers to get AI power, and more

18Aug

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Technology

5 things about AI you may have missed today: Jio Institute unveils AI program, farmers to get AI power, and more

[ad_1] A CEO pretended to be an AI chatbot to take 'Revenge' on ChatGPT and thereby managed to spark a social media frenzy; AI-Powered app for farmers set to debut; Maharashtra Governor encourages youth to master global language and AI literacy; Odisha man draws inspiration from AI news anchor Lisa for AI rakhi innovation- this and more in our daily roundup. Let us take a look.1. CEO takes 'Revenge' on ChatGPTA CEO's 'revenge' on ChatGPT went viral! Bindu Reddy, Abacus.AI co-founder, posed as an AI chatbot and engaged ChatGPT in a short, humorous exchange, leaving it stunned. The post has gained 800k views and 12k likes on social media, earning admiration for her witty comebacks. 2. AI-Powered app for farmers set to debutKarnataka plans an AI-powered app for farmers, offering weather fo...

Coursera’s CEO Wants its Chatbot to Become Your Personal Tutor

3Aug

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Technology

Coursera’s CEO Wants its Chatbot to Become Your Personal Tutor

[ad_1] Coursera Inc.'s chief executive officer Jeff Maggioncalda wants to give you an AI-generated personal tutor.The online learning platform has recently launched Coach, a chatbot tool that plugs into ChatGPT. It answers questions by sifting through and summarizing Coursera's entire curriculum. Maggioncalda offers up a quick demo to start off our interview. “Can you explain in terms that a 10-year old would understand what a convolutional neural network is,” he asks. And the AI coach almost instantly responds via text. “Imagine you have a picture of a car and you want to find out where the car is in the picture. One way to do this is to look at small parts of the picture one at a time and see if any of those parts look like a car. This is called a sliding window. A convolutional, neur...