Banking & Finance
Safe from AI: which jobs will help you thrive in the future?
Some view solely AI as a threat - but experts say there are jobs that can help offer a more secure future (and even get ahead). Some view solely AI as a threat - but experts say there are jobs that can help offer a more secure future (and even get ahead). Safe from AI: which jobs will help you thrive in the future? Entering the world of work often brings some uncertainty, but now there is another question: how can I AI-proof my career? We asked people from across various industries what they think the impact of AI will be on careers, and which jobs may be less affected.
Legendary Television City may be be sold in further blow to Hollywood
Things to Do in L.A. Tap to enable a layout that focuses on the article. Television City, at Beverly Boulevard and Fairfax Avenue, has served as a stage for some of TV's most legendary moments. This is read by an automated voice. Please report any issues or inconsistencies here . See more from the L.A. Times in Google Search.
Bank of England handed powers to regulate key tech firms including Amazon and Google
The BoE and City regulator the Financial Conduct Authority will aim to ensure the four main providers of cloud and tech services to banks are resilient and actively reducing the risk of cyber attack. The BoE and City regulator the Financial Conduct Authority will aim to ensure the four main providers of cloud and tech services to banks are resilient and actively reducing the risk of cyber attack. Direct oversight of'critical third parties' such as Oracle and Microsoft given to ensure resilient cyber-defences and help safeguard UK economy The Bank of England has been handed powers to regulate important tech firms including Amazon and Google from next week, amid fears that system failures could threaten financial stability and harm consumers. From Monday, the Bank and fellow City regulator the Financial Conduct Authority (FCA) will be in charge of ensuring that four large-scale providers of cloud and tech services to banks are resilient and actively reducing the risk of cyber-attacks and major outages that could disrupt services for millions of people and businesses across the UK. This will mean having "direct" oversight of local arms of Amazon Web Services, Google Cloud, Oracle and Microsoft, all of which have been identified as "critical third parties" by the UK government, according to an announcement on Friday.
South Korea's SK Hynix raises 26.5bn in record-breaking US IPO
South Korean chip giant SK Hynix has raised a record-breaking $26.5bn ahead of its Wall Street debut amid soaring demand for semiconductors used in AI. SK Hynix said on Friday that it had sold 177.9 million American depositary shares (ADS) at $149 each ahead of its listing on the New York-based Nasdaq stock exchange. SK Hynix's 177.9 million ADSs are equivalent to 18 million ordinary shares. SK Hynix's initial public offering (IPO) marks the largest-ever listing by a foreign company in the US, surpassing Chinese e-commerce giant Alibaba's $25bn debut in 2014. The listing also ranks as the second-largest globally, after SpaceX's record-breaking $85.7bn Nasdaq listing in June.
Reeves to launch City 'skills compact' committing firms to retrain staff in AI
AI has prompted fears over job security for City workers, particularly staff that do back-office work. AI has prompted fears over job security for City workers, particularly staff that do back-office work. Reeves to launch City'skills compact' committing firms to retrain staff in AI Chancellor Rachel Reeves is to announce a new City "skills compact" that will commit firms such as Barclays and Lloyds to retraining thousands of financial sector workers for the AI revolution. The financial services skills compact will be launched on Tuesday, during what is likely to be Reeves's final Mansion House speech to City bosses before Andy Burnham's expected takeover of No 10. The government-backed initiative will commit employers to improving workers' skills and helping them "keep pace" with significant technological changes that have prompted fears of mass redundancies.
Chip giant SK Hynix raises 26.5bn in mega US share sale
South Korean computer chip maker SK Hynix has raised $26.5bn (£19.8bn) in its New York share offering, marking the largest ever listing by a foreign firm in the US. The company, a key supplier to artificial intelligence (AI) chip giant Nvidia, said on Thursday that it had sold 177.9 million American depositary shares for $149 each. The shares are set to begin trading on Friday on the Nasdaq. In May, SK Hynix saw its market value top $1tn in its home country, lifted by the boom in demand for AI chips. Its share price has more than tripled in South Korea this year, which along with Samsung Electronics has helped boost the benchmark Kospi index by more than 70% over the same period.
A New Phase of the AI-Jobs Panic
Silicon Valley is making a show of helping prepare the country for AI layoffs. In late March, I started receiving daily texts from the federal government about AI. " AI is changing how we work and live," one message read. "You might feel curious, skeptical, or unsure--that's normal." I had enrolled in an AI-literacy course from the Labor Department created to help workers succeed in the ChatGPT economy. The weeklong program, created in partnership with an AI start-up and delivered by text message, was supposed to equip Americans with "foundational AI skills," according to an agency press release.