AI NEWS & TRENDS
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CEOs are Prioritizing Generative AI Investments: KPMG |
Nearly 3 in 4 CEOs say generative AI is a top spending priority, according to a KPMG survey of 1,300 CEOs at large companies globally, including 400 in the U.S. Executives expect the technology to bring increased profitability, new products, market growth opportunities, enhanced innovation and aid cybersecurity efforts, according to the report: https://info.kpmg.us/news-perspectives/industry-insights-research/kpmg-ceo-outlook-2023.html. Nearly two-thirds of CEOs say they expect to see a return on their investment in three to five years. Fewer - less than one-third - expect a faster ROI of one to three years, according to KPMG data. (https://www.ciodive.com/news/CEO-CIO-generative-AI-investment-priority/695899/)
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8 Ways to Reduce ChatGPT Hallucinations |
One of the most troubling aspects of working with large language model chat AIs is their tendency to make stuff up, fabricate answers, and otherwise present as fact information that is completely wrong. That ChatGPT "hallucinates" is a known and common problem. A recent ZDNet article describes eight ways to reduce hallucinations, noting that it's all about how you ask your questions. In summary, avoid all of the following: ambiguity and vagueness; merging unrelated concepts; describing impossible scenarios; using fictional or fantastical entities; contradicting known facts; misusing scientific terms; blending different realities; and assigning uncharacteristic properties. (https://www.zdnet.com/article/8-ways-to-reduce-chatgpt-hallucinations/)
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Hollywood Execs Agree to Restriction in AI Use - May Serve as a Case Study for HR |
Hollywood execs and the Writers Guild Association (WGA) recently reached an agreement, which includes a clause around artificial intelligence. The agreement states that AI can't write or rewrite literary material and that anything written by AI cannot be considered source material. Additionally, while writers can use AI if a company consents to it, a company cannot require a writer to use AI software such as ChatGPT. Notably, WGA can assert that using a writers' material to train AI is a violation of the bargaining agreement. The agreement went into effect September 25, 2023 and will last through May 1, 2026. (https://www.hrdive.com/news/wga-deal-ai-policy/696477)
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Cedars-Sinai Launches Virtual Care App with AI Chatbot |
LA's Cedars-Sinai has launched a 24/7 virtual care app that uses artificial intelligence to evaluate patients. Cedars-Sinai Connect offers virtual urgent care around the clock and same-day primary care appointments. The health system developed the platform as a joint venture with digital health company K Health, which uses AI for clinical intake and data entry to speed up appointments. When patients log into Cedars-Sinai Connect, an AI chatbot collects health details and symptoms and then generates a summary for the virtual clinicians. The app, which is integrated with Cedars-Sinai's EHR, is available for California patients and accepts any insurance that the health system takes. (https://www.beckershospitalreview.com/digital-health/cedars-sinai-launches-virtual-care-app-with-ai-chatbot.html)
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New Jobs for Humans in the AI Era |
AI is already creating new opportunities, and a recent Wall Street Journal article explored a few of them. They include: In-House Large Language Model Developer; Reskiller; AI Psychotherapist; and Prompt Engineer. (https://www.wsj.com/tech/ai/the-new-jobs-for-humans-in-the-ai-era-db7d8acd)
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LEADING A TECH COMPANY
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20 Issues Tech Companies Are Facing Now & How to Address Them |
In a recent article, 20 members of Forbes Technology Council detail some of the issues tech companies are facing right now and how individuals and the industry as a whole can address them. In summary, they include: ; Harnessing AI's potential; Leveraging generative AI; Dealing with new and increasing cyberattacks; leveraging new technology for tangible business outcomes; Maximizing the capacity and capability of teams; Proving they have a unique selling proposition; Doing more with less; Recognizing hype cycles; Dealing with a shortage of ready talent; Managing technical debt and tool sprawl; Preparing for emerging financial pressure; Ensuring real-time execution and availability via the Cloud; Addressing poor user experiences; Adapting to changing customer behaviors; Optimizing data center operations; Balancing service quality with ethical AI use; Delivering high-quality employee experiences; Rethinking the collection and use of personal data; Finding new talent in an industry dominated by Big Tech; and Filtering out "data noise." (https://www.forbes.com/sites/forbestechcouncil/2023/09/07/20-issues-tech-companies-are-facing-now-and-how-to-address-them/?sh=2a4a260757b2)
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Where are Employers & Employees Not Seeing Eye to Eye? |
Owl Lab's latest "State of Hybrid Work Report" found that 66% of employers are requiring employees to be in the office full-time when, in actuality, only 22% of workers want to be. Also, 56% of workers said that their level of work-related stress has increased since last year; 46% of employees are currently working more than one job outside of their full-time gig; and 7 in 10 employees would take a 5% or more pay cut to wear whatever clothing they wanted in-office. Read the report: https://owllabs.com/state-of-hybrid-work/2023
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4 Mistakes to Avoid When Calling Employees Back to the Office |
The vast majority of companies in a recent Resume Builder survey said they would implement plans to get employees back to the office before the end of 2024, and most said they either currently track or plan to track in-person attendance. Whether they take a flexible or firm approach to RTO (return to office), employers still need to be aware of the confluence of economic reality and worker sentiment, according to Roselyn Feinsod, principal, people advisory services at EY. A recent HRDive article shares several mistakes companies should avoid; in summary they are: Taking an 'all or nothing' approach; Signaling you've lost trust in workers, managers; Thinking food, or premium office space, is enough; and Mimicking other companies' RTO plans. (https://www.hrdive.com/news/return-to-office-policy-hr-mistakes/695326/)
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Relocation Concerns Slow the Hiring of New Tech Leaders |
Companies hiring for CIO and CTO positions want boots on the ground at the corporate headquarters, eliminating some potential candidates and a slowing of the overall rate of tech executive hiring. For business technology executives, relocation can be the single biggest impediment to changing jobs, said Eric Sigurdson, who leads the CIO Practice at search firm Russell Reynolds Associates. For a time, that impediment disappeared, although now it is back, he said. "It's a question we're now having to ask that we'd haven't had to ask for three years which is: are you willing to relocate?" Sigurdson said "You might get the answer: I'm not interested." That tension is contributing to a slowdown in technology executive hiring. The turnover rate in 2023 is down 15% compared with 2022, according to executive search firm Leathwaite.
While there is some openness to CIOs who commute from other cities, it is less feasible if they are on different coasts or in different time zones, said Ash Athawale, a senior group managing director for Robert Half's Executive Search practice. However, there are cases where companies won't necessarily require relocation, but they will have a requirement for a certain number of days in the office, said Sigurdson. Executives are welcome to fly in from wherever they live, but the costs of flights and hotels would typically be on their own dime, he added. Organizations that have location flexibility maintain a recruiting advantage, said Paul Groce, partner at Leathwaite. But that needs to be balanced out with the efficiency and benefits of having the workforce together in person, he said. (https://www.wsj.com/articles/relocation-concerns-slow-hiring-of-new-tech-leaders-9a4f8522)
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HIGH COST OF CYBER THREATS
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Threats in Cloud Top List of Executive Cyber Concerns, PwC Finds |
Cloud-related threats are the top cyber concern for organizations that have adopted the technology, according to a recent PwC report. The accounting and consulting firm surveyed 3,876 senior business and technology executives. Security concerns intensify for organizations with multiple clouds or hybrid infrastructures, the report found. More than half of respondents in this category cited cloud as their most pressing cyber concern and more than one-third said their organization prioritized cloud for security investments over the next year. Yet, nearly one-third of respondents had yet to address disaster recovery and backup with their cloud service provider and more than 2 in 5 pointed to in-house cloud skills gaps as a lingering risk factor. (https://www.ciodive.com/news/cloud-cybersecurity-threats-skills-gap-PwC/695506/)
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IT Outages Cost Companies Up to $1 Million per Hour: Report |
The median cost of outages with high business impact was $7.75 million, according to recent New Relic's Observability Forecast report, reflecting interviews with 1,700 technology professionals.. More than 3 in 5 technologists said outages cost their organizations at least $100,000 per hour, while one-third said hourly costs ran up to $500,000. For 1 in 5, companies endure $1 million in hourly costs due to an outage. Outages causing high business impact take more than 30 minutes to resolve, according to 3 in 5 respondents. For one-third of companies, resolution can take an hour or more. (https://www.ciodive.com/news/IT-outage-cost-report-new-relic/696359/)
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TECHNOLOGY & GOVERNMENT
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Venture Capital Diversity Reporting Law Passes |
A new law has been signed into law by California Governor Newsom, which requires venture capital firms in California to report the diversity of the founders they are backing. The law - Senate Bill 54, goes into effect in 2025. The bill does not require any specific investing mix, only requires the collection and reporting of diversity information. (https://www.socaltech.com/fullstory/0083674.html)
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California First State to Enact Climate Reporting Legislation |
California Governor Gavin Newson recently signed into law two expansive climate disclosure bills (SB 253 and SB 261), making California the first state in the U.S. to impose requirements on greenhouse gas (GHG) emissions disclosure and mandate reporting on climate-related financial risks. The SB 253 legislation requires both public and private U.S. entities that conduct business in California and have total annual revenue in excess of $1 billion U.S. dollars, to report on their GHG emissions annually, and the SB 261 legislation requires entities that conduct business in California and earn at least $500 million U.S. dollars in revenue to report biennially on their climate-related financial risks. The California legislature's stated purpose in adopting this legislation is to address the impact of climate change on the state's residents and economy. If implemented as adopted, these bills are likely to result in significant costs for a broad swath of U.S. companies doing business in California. The State's intent is to ensure that the impact of this new legislation is as far-reaching as possible. (https://www.jdsupra.com/legalnews/california-first-state-to-enact-climate-7499591/)
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US to Tighten Curbs on China's Access to Advanced Chip Tech |
The Biden administration will tighten sweeping measures announced last October to restrict China's access to advanced semiconductors and chipmaking gear, as the U.S. seeks to prevent its geopolitical rival from developing cutting-edge tech that could lend a military edge. The new rules aim to refine and close loopholes from last year's curbs, according to people familiar with the matter. The Biden administration will add Chinese chip design firms to a trade restriction list, forcing overseas manufacturers to gain a U.S. license to fill orders from those companies, as well as strengthen controls on selling advanced chipmaking equipment and graphics chips to Chinese firms, the people said. The administration will also impose additional checks on Chinese firms attempting to avoid country-specific restrictions by routing shipments and manufacturing elsewhere. Specifically, the rules will continue to restrict shipments of certain chips to Chinese companies' overseas subsidiaries and affiliates, and begin requiring a license to export prohibited technologies to countries that could be used as intermediaries. (https://www.havasunews.com/nation/us-will-tighten-curbs-on-china-s-access-to-advanced-chip-tech/article_69d3f292-6bbe-11ee-8516-c3872ea7f05f.html) (https://www.bloomberg.com/news/articles/2023-10-15/us-will-tighten-curbs-on-china-s-access-to-advanced-chip-tech#xj4y7vzkg)
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MORE TECH NEWS & TRENDS
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Amazon Launches First Satellites in Bid to Challenge SpaceX's Starlink |
Amazon.com's first satellites recently blasted into orbit, moving the e-commerce company closer to a satellite-internet business that could compete with SpaceX and other rivals. Amazon in 2019 unveiled plans for a satellite network called Project Kuiper and has said it would invest $10 billion to build it up. The company has permission from U.S. regulators to deploy more than 3,200 satellites over time. Like other operators of low-Earth-orbit constellations, as such satellite fleets are called in the industry, Kuiper aims to sell high-speed, low-latency broadband to subscribers. (https://www.wsj.com/tech/amazon-project-kuiper-satellite-launch-a0843bfc?mod=tech_more_article_pos22)
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Apple Watch Now Tracks Time Spent in Daylight |
A new feature in Apple Watch Series 6 and later versions uses the device's ambient light sensor, GPS and motion sensors to track the amount of time the wearer spends outdoors. Too much exposure to the sun without protection is detrimental to human health, but too little sun exposure and time indoors is also detrimental, and Apple says the Time in Daylight feature can encourage people to spend more time outdoors. (https://www.washingtonpost.com/wellness/2023/10/11/apple-watch-health-daylight-tracker/)
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