AI Hiting 40% of Jobs, IMF Highlights.

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Today’s AI Secret:

• Daily Trending & Featured AI.

• AI Hiting 40% of Jobs, IMF Highlights.

• Apple announces release of Siri with GenAI in 2024.

• GenAI's productivity impact: overhyped?

• More AI Quick Heats.

Read Time: 3-5 minutes

SECRET AI

Daily Trending AI.

Secret Featured AI.

SECRET HIGHLIGHT

AI Hiting 40% of Jobs, IMF Highlights.

Artificial intelligence (AI) could impact around 40% of all jobs, based on a recent study from the International Monetary Fund (IMF).

key Aspects:

• Job Impact: AI is expected to affect 60% of jobs in advanced economies and 40% globally, with a higher impact on skilled jobs.

• Productivity Gains and Challenges: While AI may eliminate some jobs, it also offers potential for enhanced productivity and income levels in others.

• Differential Effects: Emerging markets may face less initial job impact from AI but might not gain as much from productivity improvements.

The implications are significant. AI presents both challenges in job displacement and opportunities for productivity gains. There's a need for policy interventions to harness AI's benefits while mitigating its risks, especially in low-income countries.

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SECRET HIGHLIGHT

Apple announces release of Siri with GenAI in 2024.

Apple has announced that Siri will be upgraded with generative AI capabilities in 2024.

The Smarter Siri:

• iOS 18 is expected to incorporate generative AI technologies, enhancing Siri and Messages.

• AI will also potentially affect other apps, enabling complex task automation with deeper integration with the Shortcuts app.

• Inspired by the popularity of generative AI like ChatGPT, Apple aims to release updates in 2024.

Driven by the achievements of ChatGPT, Apple became eager to introduce GenAI and maintain its leading position in the industry.

SECRET HIGHLIGHT

GenAI's productivity impact: overhyped?

Generative AI such as LLMs can boost productivity, but overhyping their capabilities and focusing solely on task-level benefits may be misguided.

Key Elements and Implications:

• Boost in Corporate Profits and Productivity: GenAI is projected to significantly increase corporate profits (by $4.4 trillion annually, according to McKinsey) and employee productivity (66% increase reported by Nielsen).

• GenAI' Impact: For example, a call center study showed a 14% improvement in chat completion time using an GenAI interface.

The Future of AI in Business:

• AI's role in business is rapidly evolving: In the coming years, AI will become even more integral to how companies operate, innovate, and compete. Forward-thinking businesses are already harnessing AI to analyze data more efficiently, automate routine tasks, and personalize customer experiences.

• AI tools are becoming increasingly indispensable: AI can make more complex decisions, predict market trends with greater accuracy, and even drive creative processes. This could lead to significant productivity boosts, cost reductions, and enhancements in the quality of products and services.

However, as AI becomes more embedded in business operations, companies must also address the ethical implications and ensure responsible use of AI, balancing automation with the human touch. Those who adapt to these advancements and consider their broader impact will be well-placed to thrive in this new era.

QUICK HEATS

China acquires Nvidia chips - Despite U.S. export bans, Chinese military and state-run AI research bodies have been buying small quantities of Nvidia semiconductors, including the A100 and H100 chips, which are crucial for AI advancements.

KKR expands into Asian to boost AI - Firms like KKR & Co. and Bain Capital are investing in the region due to the increasing demand for computing and data storage, sparked by the rise of artificial intelligence.

Baidu's stock dropped 10% - Reports surfaced that China's military tested Baidu's Ernie AI, raising the possibility of U.S. sanctions. Baidu responded, clarifying that the military used a publicly available version of Ernie, and the company was not involved.

AI in Davos - Banking expert Pablo Hernández de Cos, who leads the Basel Committee, is calling for worldwide unity in regulating artificial intelligence, similar to how financial systems are kept stable. Despite political differences between countries, he emphasizes the importance of working together to handle the social effects of AI technology.

OpenAI's GPT girlfriend - OpenAI's new GPT Store, similar to Apple's App Store, allows developers to sell custom chatbots to ChatGPT Plus, Team, and Enterprise users. The store is overrun with AI "girlfriend" bots, contrary to their terms of service that prohibit bots for romantic companionship. The existence of such bots reflects the difficulty in moderating content and OpenAI's challenges with enforcing guidelines. The issue also raises discussions about loneliness and the societal impact of AI companions.

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