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IMF calls for stronger social safety net to 'broaden' gains from AI

Economic Times

Economic Times · 1y ago

IMF calls for stronger social safety net to 'broaden' gains from AI

Fiscal policy plays a crucial role in reducing wealth inequality and maximizing the benefits of generative artificial intelligence (AI), according to the International Monetary Fund (IMF). The IMF suggests that without proper measures, AI technologies could lead to job losses among white-collar workers. Governments should consider implementing new measures to raise revenue and support those who lose their jobs, such as upgrading social-protection systems and providing sector-based training. The IMF advises against imposing special taxes on AI products, favoring instead the reconsideration of corporate tax breaks and strengthening taxes on capital income to address wealth inequality.

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IMF chief says AI holds risks, 'tremendous opportunity' for global economy

Economic Times

Economic Times · 1y ago

IMF chief says AI holds risks, 'tremendous opportunity' for global economy

According to the IMF chief, artificial intelligence (AI) poses risks to job security but also offers a tremendous opportunity to boost productivity and global growth. Approximately 60% of jobs in advanced economies will be affected by AI, while around 40% globally will be impacted. Higher-skilled jobs will experience a greater impact. However, the IMF report suggests that only half of the jobs impacted by AI will be negatively affected, with the rest possibly benefiting from enhanced productivity gains. The IMF emphasizes the importance of helping low-income countries to capitalize on AI's opportunities.

The AI that sparked tech panic and scared world leaders heads to retirement

Arstechnica

Arstechnica · 2m ago

The AI that sparked tech panic and scared world leaders heads to retirement

OpenAI is retiring its influential GPT-4 model from ChatGPT, replacing it with GPT-4o. Launched in March 2023, GPT-4 showcased remarkable capabilities but sparked global AI panic and regulatory discussions due to its human-like performance and potential risks. The model, a costly endeavor supported by Microsoft, raised safety concerns, leading to calls for regulatory measures. Despite hype and limitations, GPT-4 significantly impacted AI development, shaping political and social discourse on machine interactions.

SoftBank expected to book $1.87 billion profit on IPOs

Economic Times

Economic Times · 8m ago

SoftBank expected to book $1.87 billion profit on IPOs

Japanese technology investor SoftBank Group is expected to report a quarterly profit of 287 billion yen ($1.87 billion), driven by successful portfolio company listings. However, the stronger yen has dampened foreign currency-denominated gains. Analysts are watching for signs of new investment momentum and a bullish stance on artificial intelligence (AI). SoftBank's net profit forecast for July-September is based on analyst estimates and compares with a loss in the same period last year. The company's balance sheet and recent investments indicate a potential for large-scale investments in the future.

Elon Musk stirs UK divisions, sparks calls for faster rollout of online safety laws

Economic Times

Economic Times · 11m ago

Elon Musk stirs UK divisions, sparks calls for faster rollout of online safety laws

Elon Musk's comments on social media about civil war in Britain have sparked controversy and calls for the government to accelerate the implementation of laws regulating harmful online content. As far-right rioting occurred in the country, Musk's statements were met with criticism from Prime Minister Keir Starmer's spokesperson, who stated that there was no justification for such remarks. The Online Safety Bill, which grants media regulator Ofcom the power to fine social media companies for breaching the law, remains yet to be enforced, leading to demands for its swift implementation in light of recent events.

‘Needs to die...’: Online outrage over fare hikes to taxi mafias exposes fault lines in Goa’s tourist economy

Business Today

Business Today · 1m ago

‘Needs to die...’: Online outrage over fare hikes to taxi mafias exposes fault lines in Goa’s tourist economy

In Goa, rising concerns over tourist safety, fare hikes, and transport issues have sparked online outrage. A recent assault at a hotel and a ban on app-based cabs highlight local issues with the taxi mafia and inflated prices. Social media backlash criticizes the state’s handling of tourism, citing a hostile environment for visitors. The government's reluctance to allow cab aggregators is seen as protecting local taxi unions, drawing calls for increased competition from other coastal states.

Startup news and updates: daily roundup (March 11, 2025)

YourStory

YourStory · 4m ago

Startup news and updates: daily roundup (March 11, 2025)

QubeHealth is helping manage rising medical expenses as Uber partners with Refex Green Mobility to introduce 1,000 EVs by 2026, pursuing its zero-emission target by 2040. Even Healthcare launches a $500,000 ESOP buyback, while Kuhoo Finance gains NBFC status from India's RBI to broaden its educational loans. Funding highlights, like goSTOPS raising Rs 35 crore for hostels and Felicity Games securing $3 million for gaming, mark India's startup momentum.

UN General Assembly seeks guidelines to address risks of AI

Economic Times

Economic Times · 1y ago

UN General Assembly seeks guidelines to address risks of AI

The United Nations General Assembly unanimously passed a resolution on artificial intelligence (AI) that calls for protecting personal data, monitoring AI risks, and safeguarding human rights. The nonbinding resolution, proposed by the United States and co-sponsored by China and 121 other nations, also emphasizes the need for stronger privacy policies. The document aims to address concerns about the potential misuse of AI in disrupting democratic processes, committing fraud, and causing job losses. Although many governments have taken steps to shape AI's development, this resolution is seen as the first truly global consensus on AI.

The women in AI making a difference

TechCrunch · 1y ago

The women in AI making a difference

TechCrunch is launching a series of profiles on remarkable women who have made significant contributions to the field of artificial intelligence (AI). The goal is to shine a spotlight on these women and highlight their work which often goes unrecognized. The article acknowledges the gender gap in AI and how it is widening rather than narrowing. Reasons for the disparity include judgment from male peers, discrimination, and unequal opportunities. The lack of women in the AI field is detrimental as women are more likely to consider societal and ethical implications in their work. The article calls for stronger mentorship, commitment, and leading by example to drive change in the industry.

161 years ago, a New Zealand sheep farmer predicted AI doom

Arstechnica

Arstechnica · 6m ago

161 years ago, a New Zealand sheep farmer predicted AI doom

In 1863, New Zealand sheep farmer Samuel Butler warned of machine evolution in his letter "Darwin among the Machines." He foresaw machines developing consciousness and eventually dominating humans, drawing parallels to Darwin’s evolutionary theory. Butler's prescient insights anticipated modern AI safety concerns, including autonomous decisions and the loss of human control. His calls for halting technological progress eerily echo today’s AI debates, highlighting humanity's struggle to balance innovation with safety over 160 years later.

Airtel's AI spots 115 million spam attempts in TN within 12 days

YourStory

YourStory · 9m ago

Airtel's AI spots 115 million spam attempts in TN within 12 days

- Bharti Airtel finds over 112 million potential spam calls and 3 million spam SMS in Tamil Nadu using AI spam detection system. - Airtel's AI-powered algorithm analyses customer usage patterns to identify and flag suspected spam calls and SMS accurately. - The AI solution is seamlessly integrated into the Airtel ecosystem, requiring no additional downloads or complex setup for users. - Airtel's dual-layered AI protection filters calls and SMS at the network and IT systems level, ensuring enhanced security for customers. - A centralized database is set up to blacklist URLs, and real-time scanning of SMS is conducted to detect anomalies in customer usage patterns. - Airtel aims to provide maximum defense against evolving spam and fraud threats, prioritizing the safety and security of its customers.

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