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14 | AI & CES | AI's Role in Job Market Stability
Wilson CELY
January 26, 2024
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GEN AI AT WORK
AI's Role in Job Market Stability
A new study by the European Central Bank reveals an unexpected twist in the tale of Artificial Intelligence (AI) and job security. Contrary to widespread fears, Europeans are not only retaining their jobs amidst AI's growing presence but are also witnessing a rise in employment in AI-impacted occupations.
This research focused on the impact of AI on jobs from 2011 to 2019, examining two categories of occupations: those influenced by AI and those affected by software in general. The study spanned 16 European countries, offering a comprehensive view of AI's influence on the job market.
Key Findings:
Increased Employment for High-Education Workers: Challenging the belief that AI would displace high-skilled jobs, the study found a rise in employment for educated workers in AI-affected roles.
Youth Employment Boost: Younger workers also experienced increased employment opportunities in AI-impacted jobs.
Minimal Wage Impact: Wages remained largely unaffected by AI, with only a slight decrease noted by one metric.
Software vs. AI: The negative impact on employment and wages was more pronounced in software-affected jobs, particularly for low-education and older workers, as opposed to those influenced by AI.
Behind the news: Other studies suggest that automation in general and AI technology in particular may benefit the workforce as a whole.
The United States Bureau of Labor Statistics found that employment in the U.S. in 11 occupations most exposed to AI, such as translators, personal financial advisers, and fast-food workers, grew by 13.6 percent between 2008 and 2018.
Economic research in France, the UK, and Japan suggests that industrial automation correlates with increased employment and higher wages.
Conclusion:
The relationship between AI and employment is complex and evolving. While AI may automate certain tasks, it appears to create opportunities for human workers, especially in higher-skilled roles. As AI continues to advance, its impact on the job market warrants careful observation and responsive strategies to ensure a balanced and equitable workforce.
AI is likely to take some jobs. We feel deeply for workers whose livelihoods are affected, and society has a responsibility to create a safety net to help them. To date, at least, the impact has been less than many observers feared. One reason may be that jobs are made up of many tasks, and AI automates tasks rather than jobs. In many jobs, AI can automate a subset of the work while the jobs continue to be filled by humans, who may earn a higher wage if AI helps them be more productive.
GEN AI PROTECTION
Sovereign AI
According to a recent report by The Economist, numerous countries are pumping billions into nurturing homegrown AI industries. The motivations are varied but focused on creating AI systems that are reliable for state use. Let's delve into how different nations are approaching this.
The United States: A global tech leader with giants like Amazon and Google, the U.S. is focusing more on subsidizing its semiconductor industry, committing $50 billion over five years to new factories. However, the software sector remains predominantly independent.
China: Facing U.S. export restrictions on AI chips, China is aggressively attempting to build a domestic chip manufacturing industry, with a whopping $300 billion spent in just two years. The government is also fostering data exchanges for AI development and forming public-private partnerships for technological advancements.
Middle Eastern Focus: Countries like Saudi Arabia and the UAE are investing heavily in GPUs and top-tier universities to cultivate global engineering talent. The UAE is also making national datasets in health and education available to local startups.
European and Indian Efforts: France, Germany, India, and the UK are each nurturing their AI startups. France offers public data for AI development, while India is attracting cloud-computing providers and contemplating a significant investment in GPUs.
Behind the news: Even as governments move toward AI independence, many are attempting to influence international politics and trade to bolster their positions.
As EU lawmakers negotiated the final details of the AI Act, France, Germany, and Italy managed to relax the Act’s restrictions on foundation models. These countries worry that strong restrictions would hamper domestic developers such as France’s Mistral and Germany’s Aleph Alpha and stifle innovation and open source more broadly.
In September 2022, the U.S. government blocked exports of advanced GPUs and chip-making equipment to most Chinese customers. The sanctions threaten even non-U.S. companies that try to circumvent the restrictions. Consequently, in December, the UAE-based AI developer G42 cut ties with Chinese equipment suppliers. Earlier, the U.S. had extended the restrictions to some Middle Eastern countries including the UAE and Saudi Arabia.
GEN AI AT WORK
AI Takes Center Stage at CES 2024
Jan 12, 2024. This year's CES has unveiled a range of products demonstrating the seamless integration of AI into our daily lives.
New Wave of AI-Optimized Hardware:
Rabbit's R1: Priced at $199, Rabbit’s R1 marks a significant shift in AI-optimized hardware. This portable personal assistant stands out with its ability to execute a variety of tasks such as playing music, ordering food, and even reserving flights through voice commands.
It incorporates a large action model based on attention and graph neural networks and offers a user-friendly interface including a touchscreen and camera. The R1, running models in the cloud, sold out its initial release and promises future updates for new skills learning. (We are getting our hands around it)
Competing Devices: Other notable mentions include the Humane AI Pin, TranscribeGlass, and Timekettle language translators, each challenging traditional smartphone capabilities.
Automotive AI Developments:
Volkswagen and Mercedes Benz Dashboards: Featuring large language models, these dashboards provide not only navigation and entertainment but also personalized information like nearby services.
Volkswagen’s system, powered by OpenAI and Cerence, will become a standard feature in its upcoming vehicles.
AI Acceleration in Computing:
Neuchips' Evo PCIe AI Accelerator: This Taiwanese startup unveiled an AI accelerator card optimized for transformer networks, providing efficient performance for running large language models like Llama 2.
This innovation hints at a future where AI processing becomes more accessible and sustainable.
Click here to see the Cnet review of Rabbit R1
GEN AI STARTUP
The biggest funding deals in AI this week
Artisse AI, the AI photo app that helps your selfies go viral, raised $6.7 million.
Blueshift, an AI tool that automates marketing campaigns, raised $40M.
Forta, an AI-enabled, family-powered autism therapy company said it closed a $55 million Series A funding round led by Insight Partners.
Vicarius, a cybersecurity startup building AI-powered vulnerability detection tools, raised $30M.
Qdrant, an open-source vector database, raised $28M.
Alinea, the Gen Z investing app offering AI-powered wealth management brought on $3.4 million in seed funding.
AiDash raised $50 million this week to enhance its ability to spot wildfire and weather risks using AI and satellites.
Raga AI, an AI testing (and fixing) platform launched by a former Nvidia exec, just closed $4.7 million in seed funding.
GEN AI AT WORK
Create a video in less than 5 minutes
In this video, I created a video in less than 5 minutes, and it took that long because I had to log in and my clumsy manipulation of the interface.
Here's how to do it:
Click on the GPT button above.
Ask the GPT to generate a video for you.
(Once the video is ready, you'll be taken to the Invideo AI web interface to finalize it.)
Since Invidio didn't have all the necessary material, I had to add some images and videos from Rabbit R1.
The initial video was 2 minutes long, so ask to make it under 1 minute.
Finally, upload the video to YouTube. Invideo AI will even generate a description for you
Requirements:
ChatGPT Plus
Create an account in Invidio AI
Creativity and Geekiness
Requirements:
👍 It seems to use an LLM well-fined tune for video scripting creation
👍 You can edit the video with the chat interface makes it really easy.
👍 The speed for video creation is fair.
🙄 The image bank is not yet impressive.
🙄 You don’t have details control for those fine touches.
Here is the video made
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