All posts tagged: AI Investment

Microsoft to lay off around 3% of workforce in organisation-wide cuts | Technology News

Microsoft to lay off around 3% of workforce in organisation-wide cuts | Technology News

Published by Parlour News

Microsoft said on Tuesday it was laying off less than 3% of its workforce, or around 6,000 employees, as the technology giant looks to rein in costs while funneling billions of dollars into its ambitious bet on artificial intelligence. The cuts will be across all levels and geographies and are likely the largest since Microsoft laid off 10,000 employees in 2023. The company let a small number of staff go in January over performance-related issues, but the new cuts are not related to that, according to CNBC, which first reported the news. Big Tech has been spending heavily on AI as they see the new technology as a major growth engine, while slashing costs elsewhere to safeguard profit margins. Google has also laid off hundreds of employees in the past year, as it looks to control costs and prioritize AI, media reports have said. Story continues below this ad “We continue to implement organizational changes necessary to best position the company for success in a dynamic marketplace,” a Microsoft spokesperson said on mail. The company, …

Australia Unveils National AI Plan to Boost Investment and Capabilities

Australia Unveils National AI Plan to Boost Investment and Capabilities

Published by Webster

Australia has announced plans to develop a national AI strategy to strengthen its AI capabilities and attract investment, aiming to unlock the economic productivity potential of these technologies. The strategy will focus on building AI skills, sovereign capabilities, and infrastructure, positioning Australia to seize the $600 billion boost to GDP that the government expects AI will deliver by 2030. Set to be developed in consultation with industry, the AI plan is expected to be released in late 2025 — after the next federal election, which is scheduled for the year’s first half. SEE: The Challenges of Demonstrating AI ROI In Australian Organisations Australia’s Federal Minister for Industry and Science, Ed Husic, emphasized the plan’s role in driving AI investment, supercharging industries and creating well-paid jobs nationwide. “We need to scale up our capabilities in critical technologies in ways that work for businesses and their workers,” Husic said in a statement announcing the new AI plan. What will be contained in Australia’s new AI capability plan? The AI plan aims to develop a comprehensive strategy focusing …

Key Insights & How Enterprises Should Adapt

Key Insights & How Enterprises Should Adapt

Published by Webster

Ben Smith, chair of digital and analytics at global consulting firm Kearney, has witnessed several significant enterprise technology changes throughout his career. The first change came with the advent of the PC, followed by the client-server model, the HTTP browser, and the smartphone. As he surveyed the market at the end of 2024, he said the AI boom “is bigger than all of them.” “I think it’s going to lead to a lot of craziness, like we saw between ‘95 to ‘04,” Smith told TechRepublic, referencing the internet boom and the rise of Google. “So, from a vendor perspective, this is a unique time.” What’s in store for tech vendor competition in the age of AI? And what should organisations do about it? Smith and Anshuman Sengar,  Asia-Pacific’s lead for digital and analytics at Kearney, outlined key trends shaping the market into 2025. More must-read AI coverage The big forces shaping the future of enterprise AI Kearney’s experts argue five forces are shaping AI heading into 2025. A battle for regulatory advantage between large and …

Sebi Proposes Accountability For AI Use By Market Infra Institutions, Intermediaries

Sebi Proposes Accountability For AI Use By Market Infra Institutions, Intermediaries

Published by Webster

AI is being increasingly used in investor services and compliance operations Regulator Sebi on Wednesday proposed holding market infrastructure institutions and intermediaries accountable for any consequences arising from their use of artificial intelligence (AI) tools in operations or client services. This includes ensuring data privacy, security, and integrity, particularly when handling sensitive investor information. Additionally, the entity should also be accountable for any actions taken based on AI outputs, Sebi said in its consultation paper. AI is being increasingly used in investor services and compliance operations. The usage is enabling stakeholders in making informed decisions and thus playing increasingly significant role in market analysis, stock selection, investment strategies and in building a portfolio in their invested securities. However, while recognising the need for intermediaries to embrace such latest techniques and AI tools, it is equally important to ensure the protection of investors with the usage of such tool, Sebi said. Recognising both the advantages of AI — like enhanced efficiency, accuracy, and risk management — and the need for investor protection, Sebi has earlier mandated …