Today’s Cache | AI anxiety grips workers worldwide; X exploring trading hub in app; Centre restricts computer imports

Updated - August 05, 2023 09:09 am IST

Published - August 04, 2023 02:13 pm IST

AI anxiety grips workers worldwide

AI anxiety grips workers worldwide | Photo Credit: REUTERS

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AI anxiety grips workers worldwide

Therapists are seeing a rise in the number of clients who come to them for help dealing with their fears surrounding the rapid evolution of AI this year. Many who work in fields such as finance and content creation worry that generative AI tools such as the conversational chatbot ChatGPT and the text-to-image generator Midjourney will make them redundant sooner rather than later.

In March, Goldman Sachs analysts said that generative AI could impact or even eliminate around 300 million jobs. As AI makes inroads into movies, TV shows, animation, and even stock image creation, specialists are questioning whether they will be able to make a living in the fields they spent years studying to master. Others are looking at roles where a human presence is still deemed necessary, such as management.

X exploring trading hub in app

News outlet Semafor reported that the Elon Musk-owned X, formerly Twitter, had reached out to financial data providers to ask how much they would commit in order to build a trading hub on the social media platform. X also reportedly wanted proposals for financial content and live stock features. However, Musk denied the claims and said that to the best of his knowledge, no work was being carried out in this area.

The Tesla billionaire is known for engaging with the online cryptocurrency community, especially fans of the Dogecoin meme cryptocurrency. Before Twitter was sold, its management had started to support some crypto and fiat micropayments across limited jurisdictions.

Centre restricts computer imports

The Indian central government has restricted the import of computer hardware such as PCs, laptops, and tablets from foreign countries. To be brought to India and sold to customers, licenses will now be mandatory. However, the new rule will not affect people buying such products in a personal capacity or bringing devices back with them from abroad. Overseas laptop purchases are also permitted, but import fees and taxes may make this expensive for individual buyers in India. Companies which assemble their products overseas such as Dell, HP, Lenovo, and Apple are expected to see short-term supply issues.

Computer assembly companies in India anticipate a boost in business thanks to the government’s move. In the financial years 2022 and 2023, India imported $9,446 million worth of laptops from China.

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