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What's New Today: Accenture hires for a variety of positions after laying off 19000 employees.
Fast-Track Insights: As crypto rallies, Arthur Hayes expects a "Balkanization of Money" soon.
OpenAI, a manufacturer of ChatGPT, has announced the start of its Bug Bounty program. Individuals who report vulnerabilities in the artificial intelligence systems of the company are eligible to receive rewards in the amount of up to US$20,000 (roughly Rs 16.42 lakh) through the program. OpenAI has listed the bounty program on Bugcrowd, offering a maximum reward of US$20,000 and a range of US$200 to US$6500 for each vulnerability. On Tuesday, the Bug Bounty program went live. It aims to encourage ethical hackers and programmers to report software system flaws in OpenAI. Following the alleged violation of privacy regulations that led to the Italian ban of ChatGPT, the Bug Bounty program was launched. Regulators in other European nations have taken generative AI services more seriously as a result of the ban. Italy became the first nation in April to temporarily block ChatGPT due to concerns about data privacy.
Last month, Accenture announced layoffs. The organization said that it is terminating upwards of 19,000 specialists because of troublesome macroeconomic circumstances. Accenture said that the cutbacks are affecting around 2.5 percent of its labor force, yet the organization likewise said that the organization won't promptly dispose of workers. It stated that the layoffs would go on for another 18 months. "In the regulatory filing, Accenture stated that these actions are expected to result in the departure of approximately 19,000 people, or 2.5% of our current workforce. We expect more than half of these departures to consist of people in our non-billable corporate functions." The company also stated at that point that it would continue to hire new employees until the latter half of 2023. While we keep on recruiting, particularly to help our essential development needs, during the second quarter of financial 2023, we started activities to smooth out our tasks and change our non-billable corporate capabilities to lessen costs," Accenture noted. However, Accenture appears to be still recruiting despite layoffs, as evidenced by the most recent job postings on LinkedIn.
One of the most pressing ethical issues in AI is ensuring that these systems are developed and used responsibly and ethically. This requires careful consideration of the potential risks and benefits of AI, as well as the social and economic impacts that it may have. It also requires that developers and users of AI systems take into account ethical principles such as fairness, transparency, and accountability. Another ethical issue related to AI is privacy. AI systems often rely on large amounts of personal data to function, and there is a risk that this data could be misused or mishandled. Concerns have been raised about the potential for AI systems to violate individuals' privacy rights and perpetuate discrimination and bias. Read More
As the Asia business day begins, bitcoin and ether are well within the green, with bitcoin surpassing their annual highs of US$30,000 and US$2,000, respectively. As bitcoin prices soar, crypto-related stocks are also at year highs. There are a lot of questions about how the Ethereum network's Shanghai upgrade will affect the price of ether, even though Bitcoin's connection to the current banking crisis has made it a clear winner over the past month. Is that what the ether needs to move forward? Or, is either simply replicating Bitcoin's progress? Ether Capital President Brian Mosoff considers it a "non-occasion." Mosoff stated on Monday's episode of "First Mover" on CoinDesk TV, "I suspect that this is going to be a non-event in terms of price."
