Economics

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Even amid rising economic uncertainty, now is not the time to hug your job

In a rapidly changing job market, it’s not necessarily good for workers to cling to their current employmentAfter all the employee protests over the past few years – the “great resignations”, the “quiet quittings”, the “bare-minimum Mondays” and “coffee badgings” – we have finally arrived at “job hugging”.Amid all the economic uncertainty and the rising […]

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AI is indeed coming – but there is also evidence to allay investor fears

Opinions are divided about the potential impact of artificial intelligence as the response to a recent viral essay showsUK ad agencies undergo their biggest exodus of staff as AI threatens industryThe message from investors to the software, wealth management, legal services and logistics industries this month has been clear: AI is coming for your business.The

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New J-PAL research and policy initiative to test and scale AI innovations to fight poverty

The Abdul Latif Jameel Poverty Action Lab (J-PAL) at MIT has awarded funding to eight new research studies to understand how artificial intelligence innovations can be used in the fight against poverty through its new Project AI Evidence.The age of AI has brought wide-ranging optimism and skepticism about its effects on society. To realize AI’s

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Software sell-off deepens amid AI fears in ‘echoes of dot-com crash’ – business live

Rolling coverage of the latest economic and financial newsOnly seven new petrol-powered cars sold in Norway in JanuarySilver is also looking very volatile.The spot price of silver tumbled by 19% yesterday, hot on the heels of its 27% plunge on 30 January. Continue reading…

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Software stock sell-off goes global amid fears over AI-led disruption – business live

Rolling coverage of the latest economic and financial newsIn the insurance world, Zurich appears to have won its battle to aquire smaller rival Beazley after increasing its offer price.The two companies have told the City this morning they’ve reached “agreement in principle” on the key financial terms of a possible recommended cash offer, which values

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Universal basic income could be used to soften hit from AI job losses in UK, minister says

Lord Stockwood says people in government ‘definitely’ talking about idea as technology disrupts industries• Business live – latest updatesThe UK could introduce a universal basic income to protect workers in industries that are being disrupted by AI, the investment minister Jason Stockwood has said.“Bumpy” changes to society caused by the introduction of the technology would

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Most young adults in UK are anxious about jobs and the economy, research suggests

Respondents to King’s Trust survey cited AI and a lack of work experience as reasons they might fail in lifeMore than seven in 10 teens and young adults in the UK say they wish they were not starting their careers in the current economic climate, according to new research from the King’s Trust.The study also

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AI is hitting UK harder than other big economies, study finds

Britain is losing more jobs than it creates owing to artificial intelligence, Morgan Stanley research suggestsMore than a quarter of Britons fear losing job to AI in next five yearsBusiness live – latest updatesThe UK is losing more jobs than it is creating because of artificial intelligence and is being hit harder than rival large

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AI needs to augment rather than replace humans or the workplace is doomed | Heather Stewart

Tech could lose its social acceptance unless it makes people’s lives better – and trade unions want an urgent conversation “Who wouldn’t want a robot to watch over your kids?” Elon Musk asked Davos delegates last week, as he looked forward with enthusiasm to a world with “more robots than people”.Not me, thanks: children need

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Young will suffer most when AI ‘tsunami’ hits jobs, says head of IMF

Kristalina Georgieva says research suggests 60% of jobs in advanced economies will be affected, with many entry-level roles wiped outArtificial intelligence will be a “tsunami hitting the labour market”, with young people worst affected, the head of the International Monetary Fund warned the World Economic Forum on Friday.Kristalina Georgieva told delegates in Davos that the

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