ChatGPT caught regulators by surprise when it set off a new AI race. As companies have rushed to develop and release ever more powerful models, lawmakers and regulators around the world have sought to catch up and rein in development. As governments spin up new AI programs, regulators around the world are urgently trying to hire AI experts. But some of the job ads are raising eyebrows and even chuckles among AI researchers and engineers for offering wages that, amid the current AI boom, look pitiful. The European AI Office, which will be central to the implementation of the EU's AI Act, listed vacancies early this month and wants applicants to begin work in the fall.

The EU's forthcoming regulation on Artificial Intelligence could cost the bloc's economy up to €31 billion over the next 5 years and cause investments to shrink by as much as 20%, according to a study published on Monday (26 July). The assessment by the Centre for Data Innovation looked into the administrative costs of the Artificial Intelligence Act (AIA), a horizontal EU regulation to introduce increasing obligations based on the level of risk associated with the application of the groundbreaking technology. The study author stresses the administrative burden the new legislation is expected to create, which they say will disincentivise innovation and technology uptake. "The Commission has repeatedly asserted that the draft AI legislation will support growth and innovation in Europe's digital economy, but a realistic economic analysis suggests that argument is disingenuous at best," said senior policy analyst and report author Ben Mueller. That goal would require roughly 10 times the level of current investment in the technology, yet the study author says compliance costs would eat up just under 20% of those investments.

Brain drain, in memoriam, has been a serious issue for nations. Countries producing erudite scholars and creative brains that hold the promise to present a nation, always suffer the anxiety of losing them to the countries with more advanced prospects. This is the best in which one can explain brain drain. Brain drain also a synonym for human capital flight refers to a type of immigration of qualified individuals to countries receiving them and utilising their skills to the benefits of the nation. Still in persistence, it has gained strength over the years.

Several Greek startups have stood out in the past few years, somehow able to break free of the fetters of the economic crisis and the mass exodus of educated, skilled individuals to other countries. One of these enterprises is Twiddle, a group of four talented Greek computer whizzes who want to not only make videos sound better but also have a greater impact on the viewer. The idea was simple: Most videos posted on social media, whether they are amateur personal videos or commercial marketing videos, suffer from the poor choice of music used with them. As a result, they may not have the overall effect the maker intended. "Twiddle is a platform that uses Artificial Intelligence with a focus on sound, for content creators. We apply the most innovative AI technologies and advanced neural networks to automate the process of identifying, recommending and positioning the best matching sound effects and music in videos. Phase A: The already available Twiddle Mobile App, which is meant to showcase the core of our AI-powered technology by organically attracting users which also helps in building synergies with music & sound licensers. The Twiddle Mobile App is already available in 40 countries and in 7 languages, in both the Apple App Store and Google Play where it entered the top 10 Trending Entertainment Apps soon after its release. The Twiddle mobile App also houses a social-interaction feature, where users can upload their creations, follow other creators, interact with the uploaded content, message each other and more. This feature is currently available in a limited number of regions. Phase B: In anticipation of our next funding round, we are further developing our AI-powered technology to be made available through plugins in established video editing software. That plug-in offering will allow professionals to save up to 60% of the time it takes to create content will also offer to novice creators the opportunity of creating quality content without the steep learning curve of sound embedment. It will be available with simple subscription for consumers and custom case-by-case pricing for Enterprise accounts."

Universities have long been a source of talented leaders for industry, but an accelerating exodus of professors with expertise in artificial intelligence has caused concerns. A recent Bloomberg op-ed asked, "If industry keeps hiring the cutting-edge scholars, who will train the next generation of innovators in artificial intelligence?" This article analyzes the problem and suggests solutions. The brain drain of AI experts out of academia can be explained in simple economic terms. The demand for experts has outpaced supply, leading to sharply increased prices.

Science is facing a major generational issue in the coming years, and it's all our fault. For decades it's been the case that there are way more people interested in careers in science than there are permanent positions for them. There are a lot of undergrads, with some of them moving on to grad school. And some of those grad students will go on to take postdoctoral research positions, and some of the best and brightest postdocs will end up as distinguished members of faculty at respectable institutions. It's set up almost like a competition.

British artificial intelligence companies are attracting almost as much capital as the rest of Europe combined, figures have shown, even as experts caution the UK is suffering from a "brain drain" of its best talent. In 2018, there were 82 venture capital fundraising by UK companies, raising a record $1.3bn (£1bn) over the course of the year. This is compared to the 70 deals which raised $1.2bn a year earlier, and is up almost six-fold in five years. The figures, compiled by Dealroom for industry group Tech Nation, showed that French businesses in the space, meanwhile, raised $400m in 2018, and German companies $300m. "These statistics are further confirmation that the UK is Europe's undisputed...

As early Artificial Intelligence (AI) applications, from machine translation to image recognition, enter our everyday lives and we begin to imagine life with autonomous vehicles and robo-advisors, Europe must act to shape its own AI future based on our shared vision. If we don't act, AI's impact on our lives, our cognitive processes, our jobs and our interpersonal and societal relations will be decided elsewhere. This is the main message of a JRC new report "Artificial Intelligence: A European perspective". It aims to take stock of the development of AI in the world today and lay out some of the options and pitfalls for EU policymakers in the face of strong competition, and competing visions, from the US and China. The report looks at recent developments in AI resulting from increased processing power, improvements in algorithms, and the exponential growth in the volume and variety of digital data.

China is due to become the world's AI research superpower as researchers in Europe are poached up by US technology giants, research has suggested. A study by Elsevier, the information analytics company, found that Chinese research output in artificial intelligence had increased by around two thirds between 2013 and 2017. The study's authors said that "China is bound to overtake Europe in publication output in AI in the near future, having already overtaken the United States in 2004". Beijing has made no secret of its plans to become a world leader in AI, despite fears that its research is being used to monitor its population and crack down on dissent. Elsevier's study found that Chinese research...

Blockchain technology will aid the Philippine economy to maintain jobs that the advent of artificial intelligence (AIs) is supposed to get rid of, as reported by Edwin Bautista, president, and CEO of Union Bank of the Philippines. "Blockchain could play an important role in the Philippine economy. If we play it right, we have the potential to emerge as one of the leaders in block chain's future." The emerged AIs will eliminate many jobs, and developing the blockchain abilities of Filipinos could cancel out these job losses, Bautista added on the sidelines of the launch of XLOG, a Block chain-based logistics solutions platform developed provincially. The founder and CEO of XLOG creator Shiptek, Eugenio Ynion Jr., repeated Bautista's warning about the threat of robots for hundreds of thousands of Filipino jobs. "Me and my wife just came from China to discuss XLOG with capitalists there, and we were informed by Chinese officials that their country would be needing close to five million IT developers, programmers, etc., over the next five years.