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News on Medial
'AI's biggest victim would be Bengaluru': Viral post claims AI will cut IT jobs, drive down skyrocketing rents
Business Today
·
5m ago
Medial
A viral post claims that AI's ability to perform tasks of entry-level software developers could drastically affect IT jobs, particularly in Bengaluru, potentially driving down rents due to job displacement. Industries like finance, operations, and accounting are also vulnerable to AI automation through tools like chatbots and RPA. Nevertheless, some argue that IT roles are secure for now, as AI struggles with maintaining code. Meanwhile, Bengaluru's rental market is influenced by tenant behavior.
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‘F**k prestige handcuffs’: Techie’s honest take on ‘dog eats dog culture’ after layoff goes viral
Business Today
·
5m ago
Medial
A viral post about layoffs at FK Prestige highlights the 'dog-eat-dog' culture in high-paying tech jobs, sparking discussions on the personal sacrifices tech professionals endure to remain competitive.
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Hollywood’s pivot to AI video has a prompting problem
The Verge
·
1m ago
Medial
Filmmaker Bryn Mooser, co-founder of Asteria, envisions a collaboration between filmmakers and generative AI models to create movies. Asteria, distinguishing itself with an "ethical" AI model, aims to address Hollywood's skepticism about AI's role in filmmaking. Mooser believes AI can cut production costs and democratize filmmaking by enabling smaller teams and faster outputs. However, concerns remain about AI's potential to reduce jobs, despite its promise to transform traditional film production.
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AI will create more jobs for freshers: Cognizant CEO Ravi Kumar
Economic Times
·
1m ago
Medial
Cognizant CEO Ravi Kumar claims AI will generate more jobs for freshers, despite fears of job losses. He argues that AI lowers expertise requirements, enhancing productivity, especially for junior developers whose productivity rose by 37%. As AI tools proliferate, engineering roles will shift from coding to guiding AI agents. Kumar believes that rather than reducing jobs, AI's cost-efficiency will lead companies to expand operations, reflecting Google's Sundar Pichai's view on AI's role in meaningful work.
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Alphabet CEO Sundar Pichai dismisses AI job fears, emphasizes expansion plans | TechCrunch
TechCrunch
·
2m ago
Medial
Alphabet CEO Sundar Pichai addressed concerns over AI potentially replacing jobs, emphasizing AI's role as an "accelerator" that boosts productivity by eliminating mundane tasks. He reassured that AI will drive growth and innovation, generating demand for more employees. Despite past layoffs, Pichai highlighted Alphabet's expansion plans, such as Waymo and quantum computing. While acknowledging job displacement fears, he remains optimistic about AI's progress, though uncertainties about achieving artificial general intelligence persist.
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Internal whistleblower alleges deep crisis at Zomato; CEO Deepinder Goyal dismisses it as ‘utter nonsense’
Internet
·
3m ago
Medial
Zomato CEO Deepinder Goyal dismissed claims from an alleged whistleblower that the company is losing market share and forcing employees to order exclusively from Zomato. Goyal called these allegations "utter nonsense" and emphasized the company's commitment to freedom of choice for employees. The claims surfaced in a viral Reddit post, which also highlighted internal cultural issues and a focus on short-term targets. Goyal labeled the accusations as "baseless" and "embarrassing."
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No, Google Isn’t Sunsetting Gmail
Gizmodo
·
1y ago
Medial
A fake screenshot claiming that Google will be shutting down Gmail in August has been circulating on social media. The viral notice states that Gmail will no longer support sending, receiving, or storing emails after August 1, 2024. However, this is completely false. Gmail has confirmed that it is not sunsetting and will continue to provide its services. This incident highlights the ease with which fake claims can go viral on social media platforms like X, particularly after changes that have allowed anyone to purchase verification.
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In the big picture, IT services is not great any more: Samir Arora
Economic Times
·
29d ago
Medial
Samir Arora, Founder of Helios Capital, expresses concern over the future of India's IT sector due to slow earnings growth, US uncertainty, and AI's increasing role in automating jobs. He suggests a realistic expectation of 10-15% equity annual returns, despite AI disrupting human roles. Arora emphasizes the potential for consumer and banking sectors to drive market growth if earnings increase, though he remains cautious about IT services heavily reliant on human billing.
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Grocery-delivery firm Instacart forecasts strong Q1, plans 250 job cuts
Reuters
·
1y ago
Medial
Instacart forecasts strong Q1 with gross transaction value and core profit exceeding expectations. However, shares declined by 10% after missing fourth-quarter revenue estimates. The grocery-delivery firm intends to cut 250 jobs, about 7% of its workforce, to focus on promising initiatives. The company aims to reshape and flatten the organization to drive long-term transformation. Instacart also announced an additional $500 million share repurchase program.
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Sharan's '1% Club' needs financial literacy more than its customers: Fired employee
Inshorts
·
9m ago
Medial
A person claiming to have been fired by financial influencer Sharan Hegde's startup 'The 1% Club' in an anonymous Reddit post said, "Around 40 of us are getting cut [laid off], including people who moved cities for jobs." The ex-employee added, "Here's to hoping they figure out "financial literacy" on their own...because they clearly need it more than their customers."
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Man shuts startup he quit his ₹50 LPA job for, says 'Success didn't make me happy'
Inshorts
·
8m ago
Medial
A Founder's Grapevine post about shutting a startup he built after leaving ₹50+ LPA job has gone viral. "Raised $2 million...Built something profitable...Shutting it down now," he wrote. "The constant weight of making decisions...Never-ending uncertainty...I wasn't built for this," he said. "Success is not equal to happiness...I built something profitable, but it didn't make me happy," he added.
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