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- Nobel economist warns AI doomsday job fears could become self-fulfilling prophec...
A Nobel Prize-winning economist has warned that persistent predictions of artificial intelligence destroying the job market could become a self-fulfilling prophecy.Robert Shiller, who shared the 2013 Nobel Prize in economics for his work on asset prices, wrote a guest essay on Monday in The New York Times that argued the panic over AI is not a new sociological phenomenon.In fact, he wrote, humans have been worried that new technology could replace them since the days of Aristotle, who envisioned a self-powered loom and a lyre that could play music without someone plucking the strings.And in the 19th century, a group of English textile workers — who later became known as Luddites — intentionally destroyed machines they believed would put them out of a job.ROBERT SHILLER: PEOPLE AREN'T AS IMPRESSED BY HOMES ANYMOREShiller fears that similar anxieties inherent within us are rearing their head once again.He cited a Quinnipiac poll from March, which found that 70% of people believe AI will reduce the number of jobs. Additionally, only 16% of Americans believe AI will have a positive impact on society over the next two decades, according to a Pew Research survey conducted in June."Like many others, I believe AI could lower employment. But unlike most, I don’t necessarily blame the technology itself. Instead, I worry about the potency of the fear it is generating," Shiller wrote."Our brains are wired to respond to stories. Narratives floating in a population can affect individuals’ economic decisions," he continued. "When millions of people make millions and millions of decisions based upon negative expectations, there is a risk that fear can actually help birth the reality."THE AI REVOLUTION THREATENS OFFICE JOBS, BUT REVIVES DEMAND FOR SKILLED TRADESMuch of the negative media coverage around AI centers on speculation over how much it will impact jobs and the economy.In late May, Anthropic CEO Dario Amodei told Axios that in the next one to five years, AI could eliminate half of all entry-level white-collar jobs and spike unemployment to as much as 20%. He later expressed uncertainty over the exact timeline.The current unemployment rate is 4.3%, up from 4% at the beginning of President Donald Trump's term in January 2025.AI IS TOP REASON FOR US JOB CUTS FOR THIRD STRAIGHT MONTH"While the job market has slowed for a host of reasons, there are reports that fear of an AI apocalypse is worsening the freeze and contributing to record lows… [TheTopNews] Read More.42 mins ago - Warriors, AI Cloud provider Iren reach sponsorship deal that reportedly is large...The Golden State Warriors will have a new company patch on their jerseys, and it will set a new precedent in the sponsorship deal space.IREN, an Australian-founded vertically integrated AI cloud provider, will have its brand on the jerseys beginning with the 2026-27 season after a deal reportedly worth more than $50 million a year.The financial terms, first reported by Sportico, make it the largest sponsorship deal in North American sports.CLICK HERE FOR MORE SPORTS COVERAGE ON FOXBUSINESS.COMThe deal is with the Golden State Group, the parent holding company that owns and operates the Warriors, the WNBA's Golden State Valkyries, and the NBA G League's Santa Cruz Warriors, among others."The Warriors jersey badge is our most visible global platform, and finding a partner that shares our vision for both innovation and community engagement was paramount," Golden State Chief Commercial Officer Mike Kitts said in a press release. "IREN is committed to powering the future of technology, education and local impact, and aligns perfectly with our goals as we look to push the boundaries of innovation on a global scale and create a lasting legacy across the Bay Area and beyond.""What makes Golden State special is the platform they’ve built: championship performance, a category-defining business and a deep commitment to community, all reinforcing each other over time," said IREN Co-Founder and Co-CEO Daniel Roberts. "At IREN, we think about our business through a similar lens. We own and operate the full infrastructure stack: power, data centers and compute. That vertical integration allows us to serve the world’s most demanding AI workloads and invest in the communities that support us. This partnership brings together two organizations focused on execution, sharing a commitment to the people and the city building what comes next."In addition to the Warriors' jersey badge, the partnership includes IREN’s designation as the Official AI Cloud Partner of Golden State, branding on warm-ups for the WNBA's Valkyries and the Santa Cruz Warriors' jerseys, prominent visibility throughout San Francisco's Chase Center, and presenting sponsorship of the Warriors’ annual City Edition platform.GET FOX BUSINESS ON THE GO BY CLICKING HEREIREN delivers GPU clusters for AI training and inference to customers in the Bay Area and around the world. It has secured more than five gigawatts of power around the world to support AI training and inference workloads and is focused on building the infrastructure that enables the next generation of technological advancement. [TheTopNews] Read More.4 hours ago
- Free summer holiday sport sessions offered in city
The scheme will visit green spaces around Sheffield, with free food and drink also offered. [TheTopNews] Read More.6 hours ago - Advertisers Are Good at Getting Human Attention. Can They Stand Out to A.I.?
At Cannes Lions, marketers grappled with how to influence A.I. chatbots. [TheTopNews] Read More.7 hours ago - How Kohl’s lost its way — and is trying to become relevant again
Kohl's went from a household name to a plunging stock as it lost relevancy and its core customer. Now, the company is trying to turn itself around. [TheTopNews] Read More.7 hours ago - A surprisingly strong summer box office could mean Hollywood’s first $10 b...Hollywood is having its best summer since the pandemic putting the annual box office on pace to cross $10 billion for the first time in seven years. [TheTopNews] Read More.7 hours ago
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