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What's New Today: Lenders Turn to Freshers to Battle 'Infant Mortality' and Lower Attrition Rates
Fast-Track Insights: Private Crypto is Doomed, Says Singapore Central Banker
The initial fervor surrounding generative artificial intelligence (AI) was unparalleled by anything the world had witnessed. ChatGPT reached 100 million users in less than two months after its November 2022 launch. Searches on the Internet for "artificial intelligence" increased dramatically; in the first half of this year alone, venture funding worth over US$40 billion went into AI companies.
To combat the issue of high attrition, private banks plan to hire a minimum of 50,000 workers including recent graduates for entry-level roles over the next year, according to bankers and recruiting specialists. About the pattern of recent workers choosing logistics and delivery services and quitting within the first three months of employment, the banks are struggling with what they refer to as "infant mortality."
Netweb Technologies India Limited (Netweb) has recently declared its role as a manufacturing partner for the cutting-edge NVIDIA Grace CPU Superchip and GH200 Grace Hopper Superchip MGX server designs. As part of this collaboration, Netweb is set to produce over ten server variations under its Tyrone range of AI systems. These advanced AI systems are strategically designed to cater to a diverse range of applications, particularly in the realms of AI, high-performance computing (HPC), supercomputing, data science, large language models, edge computing, enterprise AI, and design and simulation. Read More
The head of Singapore's central bank predicts that private cryptocurrencies that failed the essential examinations of financial services will eventually vanish from the market. According to the Monetary Authority of Singapore Managing Director Ravi Menon, this means that a future monetary system will consist of three main elements: tokenized bank liabilities, digital currencies issued by central banks, and stablecoins that are "well-regulated." Menon made this announcement in Hong Kong on Tuesday.
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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.
