IBM’s CEO, Arvind Krishna, has announced a halt in hiring due to possible automation of jobs by artificial intelligence. As reported in an interview with Bloomberg, the company plans to replace approximately 7,800 positions with AI-driven roles over the coming years.
President Joe Biden signed an executive order on Wednesday, effectively banning specific new U.S. investments in China, notably in sensitive areas of technology including computer chips. It also necessitates government notification for other sectors in technology.
In recent economic reports, China has entered a phase of deflation with consumer prices registering a drop in July, a first in over two years.
It is not just the growth of India’s population that contributes to this projection but also advancements in technology and innovation, increased capital investments, and enhanced worker productivity, as highlighted in the investment bank’s recent report.
According to the BBC’s report, the trade commissioner for the African Union said that Africa would not agree that it “should just continue to be a source of raw materials” for the rest of the world. Instead, according to Albert Muchanga, his continent wants to have “genuine and mutually beneficial relationships” with its trading partners…
Just days after Russia pulled out of a deal that guaranteed safe passage for ships carrying cereal through the Black Sea, wheat prices have been rising on international markets, reigniting concerns about the impact on poorer, grain-importing countries as well as on western countries dealing with persistently high inflation. After the Kremlin decided to end…
The chief banking regulator for the Federal Reserve raised caution on Tuesday on the potential effects of artificial intelligence on efforts to ensure that underprivileged communities have equitable access to housing. Vice Chair for Supervision at the Fed Michael S. Barr stated that AI technology has the ability to give credit to “people who otherwise…
