Look at this Kum Lan Jobseeker support scheme finally revealed - like giving Bread Crumbs, different from what was presented during LW NDP rally.

[k1976]

https://www.google.com/amp/s/amp.sc...should-singapore-spend-more-curb-rising-costs



As Singapore grapples with rising living costs, growing discontent sweeping through society – from young couples to seniors – is set to be a major pain point for the ruling People’s Action Party (PAP) as it gears up for the next general election.


While newly minted Prime Minister Lawrence Wong has acknowledged awareness of the issue, observers say the real test will be ensuring that as few residents as possible feel left out in the cold.

“The PAP government’s approach to addressing rising cost of living pressures often relies on superficial measures rather than structural change, much like giving patients sugar cubes instead of treating the underlying disease,” said Kenneth Paul Tan, a professor of politics, film and cultural studies at Hong Kong Baptist University.


While the government has started to explore progressive policies on housing and expanding social safety nets, Tan argues that true reform requires “substantial political courage” and genuine public support.

 

[Hightech88]

“The PAP government’s approach to addressing rising cost of living pressures often relies on superficial measures rather than structural change, much like giving patients sugar cubes instead of treating the underlying disease,” said Kenneth Paul Tan, a professor of politics, film and cultural studies at Hong Kong Baptist University.

In other words....

 

[Hightech88]

Just take a freaking look at this PAP ministers and appointment holders annual salaries chart with 6 months bonus and...
compare to what they are giving Sinkies where they are supposed to salivate at their generosity.

Based on standard payroll calculation for the average MR2 PAP minister's salary ($6K x 22 work days x 12 mths = $1,584,000),
$6K is what the PAP-ministers are making Per Day, NBCB.

See how wonderfully generous is your PAP-Gov, LMAO. This is a farking joke of the Century.

 

[Hightech88]

Looks at how this CBkia misrepresent the scheme during ND Rally giving the impression that it's 'total of up to $6K' per month over 6 months which any reasonable person would think but turn out to be completely different in reality NBCB...3rd, 4th & 5th month is only $750, which is even lower than a NSF recruit pay, LOL:

I suspect he already knew it's just ranjiao bread crumbs so inorder not to lose face purposely omit the details to obtain large clapping support from the audience to make himself feel shiokshiok as it's his first ND Rally.

 

[k1976]

Looks at how this CBkia misrepresent the scheme during ND Rally giving the impression that it's 'total of up to $6K' per month over 6 months which any reasonable person would think but turn out to be completely different in reality NBCB...3rd, 4th & 5th month is only $750, which is even lower than a NSF recruit pay, LOL:

I suspect he already knew it's just ranjiao bread crumbs so inorder not to lose face purposely omit the details to obtain large clapping support from the audience to make himself feel shiokshiok as it's his first ND Rally.


View attachment 205199

Maybe they foresee they need to widen the coverage for more-than-expected big pool of peepur

 

[k1976]

The AI Chip Behind Nvidia’s Supersonic Stock Rally​

Nvidia H100Photographer: Marlena Sloss/Bloomberg
By Ian King
August 29, 2024 at 1:34 AM GMT+8
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When a new gadget sets the technology world alight, it’s usually a consumer product like a smartphone or a gaming console. This year, tech watchers are fixating on an obscure computer component that most people will never even see.

The H100 processor has enabled a new generation of artificial intelligence tools that promise to transform entire industries, propelling its developer Nvidia Corp. to become one of the world’s most valuable companies.

It’s shown investors that the buzz around generative AI is translating into real revenue, at least for Nvidia and its most essential suppliers. Demand for the H100 is so great that some customers are having to wait as long as six months to receive it.

The H100, whose name is a nod to computer science pioneer Grace Hopper, is a beefier version of a graphics processing unit that normally lives in PCs and helps video gamers get the most realistic visual experience.

It includes technology that turns clusters of Nvidia chips into single units that can process vast volumes of data and make computations at high speeds. That makes it a perfect fit for the power-intensive task of training the neural networks that underpin generative AI.

The company, founded in 1993, pioneered this market with investments dating back almost two decades, when it bet that the ability to do work in parallel would one day make its chips valuable in applications outside of gaming.
Have a confidential tip for our reporters

 

[k1976]

AI's impact on Philippines, the world's call center capital shows what's to come​

Bloomberg |
Aug 28, 2024 12:33 PM IST

Experiences of the staff working in Philippines call centers is a preview of what's to come soon for white-collar workers around the globe​

The same relentless drive to cut labor costs that saw back-office roles shipped to the archipelago in the first place is now starting to turn over some of their duties to bots. All of the major players in its vast outsourcing industry, which is forecast to cross $38 billion in revenue this year, are rushing to rollout AI tools to stay competitive and defend their business models.


Over the past eight or nine months, most have introduced some form of AI “copilot.” These algorithms mainly work alongside human operators, doing tasks like summarizing all previous contact a customer has had with the company, whether that’s via call or email to prevent the need for a lengthy explanatory conversation — theoretically at least. Such a process requires the chaining together of advanced speech recognition technology, content processing, sifting through vast amounts of data, analyzing sentiments and providing contextual responses — all in real time. It would have been the stuff of science fiction only a few years ago.

https://www.google.com/amp/s/www.hi...-shows-whats-to-come-101724827045422-amp.html

 

[k1976]

How Rapid AI Adoption in the Philippines’ Call Centers Could Jeopardize Its Economy​

• CryptoGlobe Writer

• 28 Aug 2024
• /
• In #AI

According to a report by Saritha Rai for Bloomberg News, the Philippines is already confronting the reality of AI’s impact on jobs, particularly within its vast business process outsourcing (BPO) sector. This industry, which includes call centers and various other back-office operations, is expected to generate over $38 billion in revenue this year. The rapid integration of AI tools across the sector is being driven by the same cost-cutting pressures that initially led to the outsourcing of jobs to the Philippines, and it is beginning to reshape the industry in profound ways.
Per the report, AI “copilots” have become a common feature in many BPO firms over the past several months, particularly in call centers. These AI tools assist human agents by performing tasks such as summarizing customer interactions, processing content, and analyzing sentiments in real-time. This technology, while primarily used in customer service roles, is indicative of broader changes across the entire BPO industry.
However, Bloomberg highlights that the speed of this transformation has been unsettling for some workers. Christopher Bautista, a 47-year-old veteran of the call center industry, shared with Bloomberg that after nearly two decades in tech support, he was put on “floating status”—a state of employment without pay—after his company lost a contract, a situation he attributes to the rise of AI. Bautista eventually left the industry and found work in sales, but he remains convinced that AI will soon replace many jobs across the BPO sector.

 

[k1976]

While stories like Bautista’s are currently isolated, experts warn that they may become more common. Avasant, an outsourcing advisory firm cited by Bloomberg, estimates that up to 300,000 BPO jobs in the Philippines, many of which are in call centers, could be lost to AI within the next five years. Yet, the same analysis suggests that AI could also create around 100,000 new jobs in areas such as algorithm training and data curation. This dual impact presents both a risk and an opportunity for the Philippine BPO sector as a whole.

Bloomberg underscores the importance of the BPO industry, particularly call centers, to the Philippine economy, serving as the largest private sector employer and a significant contributor to the country’s gross domestic product. For many Filipinos and Filipinas, BPO jobs offer a decent income without requiring a university degree or the need to work abroad. Bloomberg notes that the government’s hope was that this industry would help lift more citizens into the middle class and stimulate the creation of other white-collar jobs. However, the advent of AI threatens to disrupt this plan.

Despite these challenges, Bloomberg reports that the Philippines is not shying away from AI. The country is already a testing ground for many new AI tools, and apparently, the government has established an AI research center and launched various training initiatives to improve the skills of the industry’s 1.7 million employees.

 

[k1976]

HSBC’s Next CEO Reportedly Considering Middle Management Job Cuts​

Fintech News SingaporeAugust 28, 20242 Mins Read


HSBC Holdings’ incoming CEO, Georges Elhedery, is reportedly exploring plans to streamline operations by cutting layers of middle management, according to Bloomberg sources.

As Elhedery prepares to take the helm on 2 September, he is said to be assessing the reduction of country head roles across HSBC’s global footprint.

Additionally, the new CEO may restructure the executive team and alter reporting lines, sources indicated.

Although these discussions are in the preliminary stages and could evolve, they underscore HSBC’s broader strategy to optimise costs amid a shifting economic landscape.

An HSBC spokesperson declined to comment on the developments.

Outgoing CEO Noel Quinn has already overseen extensive restructuring at HSBC, including workforce reductions and the divestment of major operations in North America and Europe.

Elhedery’s anticipated cuts to middle management would further align with the bank’s ongoing focus on efficiency and cost control.

In July, he also announced plans to keep the annual bonus pool steady as part of these efforts.

Similar efforts to reduce middle management are underway at Standard Chartered and Citigroup, both of which are streamlining operations to boost efficiency.

HSBC, which serves 41 million customers across 60 countries, has been increasingly concentrating its efforts in Asia, particularly Southeast Asia and China.

Recently, Bloomberg reported that the bank is in the process of selling its South African unit as part of this strategic pivot.
https://fintechnews.sg/100776/fintech/hsbc-ceo-considering-middle-management-cuts/#

 

[k1976]

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AI Could Displace More Than 50% Of Banking Jobs, According To New Citigroup Report​

Jack Kelly
Senior Contributor
Jack Kelly covers career growth, job market and workplace trends.
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Jun 20, 2024,02:05pm EDT
Updated Jun 20, 2024, 02:08pm EDT

(Photo by Ramin Talaie/Corbis via Getty Images)
Corbis via Getty Images
OpenAI’s ChatGPT acquired one million users five days after its launch in November 2022, igniting a gold rush in the artificial intelligence and digital transformation of the workplace. Since then, the ascendancy of AI has led to public speculation about the impact that the fast-emerging technology will have on jobs.

In a chilling, new report by Citigroup, the global investment firm concluded that the banking industry will be the hardest-hit by the deployment of AI, with $54% of roles at risk for AI-led job displacement. Additionally, another 12% of banking jobs could be potentially augmented by AI.

 

[k1976]

GPTs have the potential to transform entire economies, changing the way we live and work. They create new opportunities for growth and innovation, often improving our overall quality of life. They also destroy existing ways of doing things. And as such they also create losers. Especially in the short term,” the report stated.


Other high-risk sectors for job displacement include insurance (48%), energy (43%) and capital market (40%).


According to Citi, automation will play an increasing role in banking and finance and will be the catalyst for changes within the industry, impacting market share, employment and client experience.

 

[k1976]

The pace of adoption and impact of Gen AI across industries has been astounding as it becomes clear that it has the potential to revolutionize the banking industry and improve profitability,” said David Griffiths, chief technology officer at Citi.

The financial firm estimates that the global banking sector’s profit pool could grow 9%—or $170 billion—from the adoption of AI, increasing from around $1.7 trillion to about $2 trillion.

 

[k1976]

How Citigroup Is Deploying AI​

The convergence of financial services and technology continues to be a growing trend, as investment banks are increasingly using automation in their operations.

Bloomberg reported last year that Citi planned to rollout generative AI technology to its 40,000 developers

The world’s biggest bank had already harnessed the power of automation to analyze an extensive set of new capital regulations, enabling it to meticulously examine 1,089 pages of these intricate rules.

Citi's risk management and compliance team were then able evaluate the potential ramifications of the proposed regulatory changes.

During the bank's digital money symposium on Thursday, CEO Jane Fraser outlined the banking giant's strategic priorities regarding AI adoption. Fraser emphasized that its current focal point is on transitioning AI technologies from the research and development phase to practical implementation across various operational domains, stating, “Our focus now is to taking it from the lab to the factory floor.”

 

[k1976]

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How manufacturers are reskilling factory workers for AI adoption​

Companies are leveraging the metaverse and augmented reality to train workers to use artificial intelligence for assembly and maintenance tasks.
Published May 28, 2024
By Sakshi Udavant

• 
• 
• 
• 
• 
• 

Thinkhubstudio via Getty Images

Listen to the article5 min
Manufacturers across the U.S. are leaning into artificial intelligence as a pivotal aspect of business growth. It’s not surprising then that 87% of those surveyed in a Deloitte report on AI in manufacturing have adopted the technology or plan to do so in the next two years.
However, a key challenge to implementing AI is training a workforce to leverage the technology, especially factory-level employees. A 2023 Boston Consulting Group study found that only 14% of frontline workers say they have received AI upskilling, compared to 44% of leaders.

• Access now➔
  
  
  
  Trendline
  

  The growing use case for AI in manufacturing​

“While approximately 70% of the current US workforce is concentrated in frontline roles that are seeing an increase in the demand for AI proficiency, AI skilling offerings to date have been almost exclusively geared toward non-frontline populations including roles like data scientists, executives, and engineers,” said Matthew Daniel, senior principal for talent strategy at Guild, a workforce training organization.
As more manufacturers navigate upskilling workers to use AI in everything from R&D to assembly and maintenance needs on the factory floor, here’s how some companies are tackling the workforce training challenge.

 

[k1976]

We are livun in an sexciting times. Sit Tight and Keep Your Powder Dry

 

[myfoot123]

Is Iswarana still getting paid MP salary after being "dismissed" piror to Kangaroo verdict??

 

[k1976]

https://www.forbes.com/sites/jackkelly/2024/07/17/ai-robot-job-displacement-universal-basic-income/

The Impact Of AI According To Elon Musk​

Elon Musk, the cofounder and CEO of Tesla and SpaceX, as well as the owner of X, formerly known as Twitter, believes the impact of AI will be more far-reaching and transformative. He views AI as "the most disruptive force in history."



During an appearance at the Viva Technology conference in Paris in May, Musk stated that AI will eventually make workers obsolete—a prediction he doesn’t necessarily see as pernicious.

According to the tech entrepreneur, highly advanced AI capabilities will dispel the need for human labor, rendering traditional jobs unnecessary, in what he frames as a likely "benign scenario" for the future of work.


Employment would become optional and more like hobbies rather than necessities. Rather than holding a job to survive, Musk sees people working simply out of personal interest or creative satisfaction.

However, this raises the question of how humans would derive meaning in life, since people’s jobs provide a sense of purpose and identity for them, which could be lost.

Being rendered economically obsolete by AI could have significant mental health implications for portions of the population that obtain self-worth from their careers and productive output. Although, it could offer them the opportunity to pursue volunteer work, passion projects or start their own business.

 

[Hightech88]

Is Iswarana still getting paid MP salary

He claimed that he will return all MP allowance. And since he already resigned, he will no longer get any salary nor MP allowance.

https://www.straitstimes.com/singap...rom-the-pap-amid-charges-including-corruption
" In a separate letter dated Jan 17, Iswaran told PM Lee of his plans to return his salary and MP allowance. Iswaran has been on a leave of absence since July 11.
He said he will not be seeking the return of these monies if he is acquitted."

https://www.pmo.gov.sg/Newsroom/Statement-by-PM-Lee-Hsien-Loong-on-the-Resignation-of-Mr-S-Iswaran
" On 17 January 2024, Mr Iswaran further informed me that he would return all monies received by way of salary as Minister and allowances as MP from the commencement of the CPIB’s investigations in July 2023. Since Mr Iswaran has now resigned, he will henceforth no longer receive any salary or allowance from the Government."

 

[k1976]

How AI And Robot Job Displacements Could Lead Us Down The Road Of Universal Basic Income And Loss Of Identity​

Jack Kelly
Senior Contributor
Jack Kelly covers career growth, job market and workplace trends.
Follow

Jul 17, 2024,06:00am EDT
Updated Jul 17, 2024, 09:02am EDT

In today’s evolving workplace landscape, AI and [+]robotics are already automating tasks across almost all sectors, including manufacturing, data analysis, customer service and administration. (Photo by Shi Kuanbing/VCG via Getty Images)VCG via Getty Images
For some, the ascendancy of artificial intelligence and robotics instills the fear that these sophisticated and emerging technologies will one day ultimately replace human workers.

In today’s evolving workplace landscape, AI and robotics are already automating tasks across almost all sectors, including manufacturing, data analysis, customer service and administration. As it stands, repetitive and routine tasks are the most susceptible to automation.

While AI and robotics will undoubtedly change the nature of work, it's unlikely that these technologies will eradicate the existence of all jobs. The focus will likely shift toward human-AI collaboration and jobs requiring uniquely human skills. The future of work could involve a combination of paid employment, universal basic income and a renewed focus on finding meaning and fulfillment outside of traditional work structures.