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What’s New Today: India’s unemployment rate falls: Sowing season boosts Job growth across sectors
Fast-Track Insights: Bitcoin soars to US$55K: Market recovery and rate cut hopes fuel surge
Elon Musk, in a lawsuit against OpenAI, resurfaced claims that the startup has drifted from its agenda of working for the benefit of humankind into a profit-making firm. The lawsuit filed in a Northern California federal court claimed that OpenAI's founders, Sam Altman and Greg Brockman, betrayed the company's original altruistic mission. Co-founder and early investor Musk was a major supporter during OpenAI's establishment in 2015 and invested a tremendous amount to further its mission of advancing AI for the public good.
The lawsuit accuses Altman and Brockman of deceiving Musk when OpenAI shifted from a nonprofit working for societal benefits toward being a for-profit firm seeking to make money. Musk says this represents a breach of the agreement that established it and, in fact, is a breach of the company's founding purposes and goals. In April, Musk filed a prior lawsuit, later withdrawn accusing OpenAI of deviation from its nonprofit roots.
The outcome of Musk's lawsuit may well have major implications for the future development of AI and raise ethical considerations toward this field. If anything, the case is underscoring the tension between commercial interests and the wider societal impact that advanced technologies bring. As AI proceeds further, the matter of balancing profit and public benefit will be a critical issue for both companies and regulators alike, placing this legal battle very much in the spotlight across the technology sector.
The jobless rate in India declined 1.3 percentage points to 7.9% in July from 9.2% the previous month, according to CMIE. This fall is largely related to the sowing season and increased hiring across all industry sectors. The number of unemployed has fallen from 41.4 million in June to 35.4 million in July. The unemployment rate in rural areas dropped by 1.8 percentage points to 7.5%, and in urban areas, it declined by 0.3 percentage points to 8.5%.
Experts point out that due to the delayed monsoon, hiring in the agriculture sector increased in July, which contributed to the overall fall in unemployment. On the positive side, the Naukri JobSpeak Index, a measure of new job listings increased from 2,582 in June to 2,877 in July, pointing to a healthy trend in job creation. The gains have come even as urban unemployment remains a concern and the government is trying to create more jobs in the private sector.
With all the fast-moving technology, AI (Artificial Intelligence), Google Gemini stands outstandingly and is on its way to revolutionizing artificial intelligence education among young people. While AI technology is restructuring different sectors, starting from healthcare to entertainment, an early understanding and proficiency in the subject need to be established. In the field of education, Google Gemini is going to make tricky AI concepts closer to young learners and ease the tool's accessibility and attractiveness.
The price of Bitcoin surged to US$55,000, up 8.2% in the past 24 hours, following a bounce from a recent low of US$49,000, as part of a broader market recovery as risk assets bounce back from prior losses. This rebound in Bitcoin and other cryptocurrencies is linked to stabilization in equity markets and expectations of US interest rate cuts, which have boosted investor sentiment.
However, investors are still taking a wary eye toward a possible US recession and regulatory uncertainty with the 2024 presidential election looming. Also, it has been reported that the US government is on the verge of selling US$2 billion in tokens; this would, in any case, leave the market quite volatile. Despite these gains in value, Bitcoin's speculative nature means that it risks falling victim once again to a sell-off.
