Tech Republic: “In an expansive Forrester report on the top 10 emerging technologies of 2023, it comes as no surprise that generative AI tops the list, followed by autonomous workplace assistants and conversational AI. These three technologies “… are poised to deliver a return on investment soon,” which Forrester defines as less than two years.… Continue Reading
Accurate, Focused Research on Law, Technology and Knowledge Discovery Since 2002
Category Archives: Economy
Federal Reserve announces that its new system for instant payments
The FedNow® Service, is now live: “The FedNow Service, is now live. Banks and credit unions of all sizes can sign up and use this tool to instantly transfer money for their customers, any time of the day, on any day of the year. “The Federal Reserve built the FedNow Service to help make everyday… Continue Reading
IRS moves forward with a new free-file tax return system, supporters and critics mobilize
AP via PBS.org: “An IRS plan to test drive a new electronic free-file tax return system next year has got supporters and critics of the idea mobilizing to sway the public and Congress over whether the government should set up a permanent program to help people file their taxes without needing to pay somebody else… Continue Reading
Flex Data Index Hiring Data – Remote Work Remains Critical
The Flex Report Job Growth Edition July 2023: “At the beginning of 2023, the vast majority of banks, economists, investors, and executives believed that we were on the path toward recession. The Fed had raised interest rates at the fastest pace in a generation. Inflation was up 6.5% over the prior 12 months. The stock… Continue Reading
GPTs are GPTs: An Early Look at the Labor Market Impact Potential of Large Language Models
WORKING PAPER – GPTs are GPTs: An Early Look at the Labor Market Impact Potential of Large Language Models. Tyna Eloundou, Sam Manning, Pamela Mishkin, and Daniel Rock. OpenAI, OpenResearch. University of Pennsylvania. March 27, 2023. “We investigate the potential implications of large language models (LLMs), such as Generative Pre-trained Transformers (GPTs), on the U.S.… Continue Reading
Seeing is no longer believing — the rise of deepfakes
ThomsonReuters: “Will an increasing amount of deepfakes — deceptive images, content, and videos often created by AI and floated on the internet — start making us doubt our own eyes? The most recent Indiana Jones movie shows actor Harrison Ford de-aged by 40-plus years. The movie makers used artificial intelligence to comb through all of… Continue Reading
GAO – Federal Buildings Remain Underutilized
Federal Real Property – Preliminary Results Show Federal Buildings Remain Underutilized Due to Longstanding Challenges and Increased Telework, July 13, 2023. Testimony Before the Subcommittee on Economic Development, Public Buildings, and Emergency Management, Committee on Transportation and Infrastructure, House of Representatives: “Federal agencies have long struggled to determine how much office space they needed to… Continue Reading
Cybersecurity Labeling Program for Smart Devices to Protect American Consumers
‘The Biden-Harris Administration today announced a cybersecurity certification and labeling program to help Americans more easily choose smart devices that are safer and less vulnerable to cyberattacks. The new “U.S. Cyber Trust Mark” program proposed by Federal Communications Commission (FCC) Chairwoman Jessica Rosenworcel would raise the bar for cybersecurity across common devices, including smart refrigerators,… Continue Reading
AI and Finance – July 15, 2023
Via LLRX, this new semi-monthly column by Sabrina I. Pacifici highlights news, government reports, industry white papers and academic papers on the subject of AI’s impact on the banking and finance sectors. July 15, 2023 Column – Chronological links provided are to the primary sources, and as available, indicate links to alternate free versions. Each… Continue Reading
Your employer is (probably) unprepared for AI
The Economist [free link] – “Turn your thoughts to the humble tractor. No one quite knows who invented it or when, but all agree that it took a surprisingly long time for such a productivity-enhancing device to make a mark. As late as the 1950s, less than half of American farms reported having the things.… Continue Reading
Why Gen Z is flocking from Twitter to LinkedIn
Fast Company: ““The bird is freed,” tweeted Elon Musk on October 27, 2022. But these days, the bird is not flying high with Gen Z. The recent Twitter acquisition has led to an exodus of Gen Z users flocking to other social media platforms—even to professional ecosystems like LinkedIn. I know because I’m a member… Continue Reading
Climate and the Economy
“What the numbers say: Between 1970 and 2021, climate-related disasters resulted in economic losses of around $4.3T, with tropical cyclones responsible for the highest portion of losses at 38%, closely followed by floods which accounted for 32%. Relevance: According to professional services firm Aon’s 2023 Weather, Climate, and Catastrophe Insight, economic losses from hurricanes increased… Continue Reading
