Bain Consulting forecasts that the coming phase of automation could eventually eliminate up to 50% of all current jobs. The job activity analysis only suggests the potential of technology to replace humans with hardware and software. It does not take into account the actual market conditions that would lead businesses to automate all work that …
The Beijing municipal government is easing visa policies and offering cash incentives of up US$158,000 to attract top class global talent to work in the capital, as China competes with the US and other countries in artificial intelligence and life sciences (biotech). The local government will fast-track qualified individuals’ multiple entry visas valid for up …
Artificial intelligence (AI) tools will create “superhuman workers” who will be able to do more with new technology, Google X co-founder Sebastian Thrun said. Sebastian Thrun left the search engine giant in 2014, and is now the chairman of online education firm Udacity and chief executive of Kitty Hawk, a flying car company backed by …
7 of India’s biggest IT companies including Infosys, Wipro and Cognizant are laid off 56,000 engineers in 2017. 2017 layoffs were double the level in 2016. This is because they are not prepared to adapt to newer technologies. Less than 5% of Indian techies are equipped to handle high-skilled jobs. For several years now, Indian …
China’s new economy – internet-based business ranging from e-commerce to car-hailing services – grew twice as quickly as overall gross domestic product in the 10 years to 2016. The number of new jobs created by technology-based industries increased at a rate that outpaced job creation in the economy as a whole by more than 20 …
General Electric plans to cut 12,000 jobs in its power division as the industrial conglomerate’s new CEO institutes sweeping changes and the company grapples with a decline in business for coal and natural gas products. The company will cut nearly one in five positions in its GE Power unit. Overall, the layoffs equal about 4% …
“China stopped being a low-cost manufacturing country many years ago,” Apple CEO Cook told the Fortune Global Forum in Guangzhou, capital of the southern Guangdong province, on Wednesday. He said the key for China and other developing countries facing rising labor costs was advanced manufacturing expertise, which meant fostering a highly skilled workforce and building …
A Tencent Research Institute report indicates that are currently only a supply 300,000 Artificial intelligence professionals when there is a demand for millions. Competition for the top tier of talent is the most intense, as there are fewer than 1,000 people who are considered capable of steering the direction of AI research and development. The …
The Economic Boom of the 1920s was driven by the Assembly line and the mass production of consumer goods such as the Ford Model T Automobile and luxury labor saving devices and access to easy credit on installment plans. Their could be an emerging global economic boom for the 2020s. 5 to 6% annual GDP …
Eric Schmidt, the executive chairman of Alphabet, answered questions about the future of Artificial Intelligence and quantum computers and robots. Highlights from Schmidt – * The rise of China will be the big news for the rest of our lives… in an economic, cultural, structural sense. * China’s artificial intelligence machine-learning policy – behind right …
There are many established and startup companies developing deep learning chips. Google and Wave Computing have working silicon and are conducting customer trials. * Wave Computing says its 3U deep learning server can train AlexNet in 40 minutes, three times faster than NVIDIA’s P100 DGX-1 server. * Wave Computing’s claim that its TPU is 1000 …