What's New Today: Tech industry faces a 40% Surge in Layoffs in 2023
Fast Track Insights: Singapore joins the global leaders in regulating stablecoin cryptocurrencies
OpenAI, the company behind ChatGPT, made a compelling argument for the use of AI in content moderation, arguing that it may increase productivity at social media companies by reducing the time it takes to complete some of the laborious duties. Despite the excitement surrounding generative AI, businesses like Microsoft and Alphabet, the owner of Google, have not yet been able to profit from the technology they have invested billions of dollars in with the expectation that it will have a significant influence on a variety of sectors.
The economic slump has had a substantial influence on several industries, notably the technology sector. In comparison to the data from the previous year, 2022, the industry laid off 226,000 people in 2023, a roughly 40% rise. The computer industry lost a shocking number of jobs in the previous year, but 2023 has proven to be even more difficult. The vast string of layoffs has caused the closure of countless businesses, making 2023 the most difficult year yet for the IT industry.
Science is ruling the world with its data-centric functionalities and understanding of the target customers. Businesses need to be alert to some of the top AI and data science trends to survive in the global tech market. We give you a comprehensive view of global AI and Data science trends so you can follow the latest developments in the industry. For example, AI for IT operations (AIOps), Data-Centric AI, Natural Language Processing (NLP), and Robotic Process Automation are some of the promising technologies. Read More
As one of the first nations in the world to do so, Singapore's finance authority said on Tuesday that stablecoin laws have been finalized. Digital currencies called stablecoins are meant to maintain a fixed value of fiat money. Many assert to be supported by a pool of tangible assets, such as cash or bonds issued by the government. The stablecoin market is estimated to be worth US$125 billion, and USDT and USDC from Tether and Circle respectively account for 90% of that total.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.