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8M UK careers at risk of ‘job apocalypse’ from AI

A report by the Institute for Public Policy Research (IPPR) sheds light on the potential impact of AI on the UK job market. The study warns of an imminent ‘job apocalypse’, threatening to engulf over eight million careers across the nation, unless swift government intervention is enacted. The report identifies two key stages of generative…

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AI won’t lead to mass job losses

Andrew Bailey, Governor of the Bank of England, has rebutted fears that AI will lead to widespread unemployment. “I’m an economic historian, before I became a central banker. Economies adapt, jobs adapt, and we learn to work with it. And I think, you get a better result by people with machines than with machines on…

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Philips Hue reorganizes, plans job cuts to save $218 million annually

Signify, the company that owns smart lighting brands Philips Hue and WiZ, is restructuring in the face “of ongoing market volatility and uncertainty.” In a press release on its website published earlier this month, Signify announced a “new customer-centric organization and structural cost reductions.” This appears to signal that the company is focusing more effort…

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Bitcoin Price (BTC) Dips as U.S. November Job Growth of 199K Tops Estimates

The price of bitcoin (BTC) fell about 0.5% in the minutes following Friday morning’s release to $43,500. In traditional markets, interest rates are shooting higher, with the 10-year U.S. Treasury yield up 8 basis points to 4.24%. U.S. stock index futures have turned lower, the Nasdaq 100 off 0.7%. Source link

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