Author: IA PressRoom

WASHINGTON, D.C. – Congressional lawmakers told Fox News they’re concerned about how artificial Intelligence will impact the job market, but were unsure how to approach the issue.”I don’t have answers,” Rep. Adam Smith, a Democrat, said. “There’s no question AI is an incredibly disruptive technology, and we should be closely looking at the implications of it and how best to handle those implications.” An AI-powered robot waiter makes a drink at a robotics show.  (Photo by Leon Neal/Getty Images)Republican Rep. Ben Cline said he was less concerned.”New technologies have come and gone, and with them you have displacement, not necessarily…

The U.S. Senate voted 63-36 in favor of a crucial debt-ceiling bill on Thursday night, sending the measure to President Joe Biden to be signed into law. The Fiscal Responsibility Act, which the Republican-run House of Representatives approved on Wednesday night in a 314-117 vote, raises the ceiling for federal borrowing and avoids a market-shaking government default while imposing some limits on spending. Congress…

Australia’s largest superannuation fund has said it will not sign any new contracts with PwC as the consulting firm grapples with the fallout from a tax scandal in one of its biggest markets.AustralianSuper, which has almost 3mn members and A$290bn ($191bn) of assets under management, said on Friday that it would freeze any new work with the Big Four firm and review an audit contract later this year.“AustralianSuper is concerned with the ongoing revelations around PwC and as a result has frozen any new contracts with PwC,” said a spokesperson for the fund. AustralianSuper had expressed those concerns “at the…

© Reuters. FILE PHOTO: ChatGPT logo and AI Artificial Intelligence words are seen in this illustration taken, May 4, 2023. REUTERS/Dado Ruvic/Illustration (Reuters) – Rapid advances in artificial intelligence (AI) such as Microsoft-backed OpenAI’s ChatGPT are complicating governments’ efforts to agree laws governing the use of the technology. Here are the latest steps national and international governing bodies are taking to regulate AI tools: AUSTRALIA * Seeking input on regulations The government is consulting Australia’s main science advisory body and is considering next steps, a spokesperson for the industry and science minister said in April. BRITAIN * Planning regulations The…

2/2 © Reuters. FILE PHOTO: U.S. dollar and Euro bank notes in Frankfurt, Germany, in this illustration picture taken May 7, 2017. REUTERS/Kai Pfaffenbach/Illustration 2/2 By CarloGiovanni Boffa and Chiara Elisei (Reuters) – Investors who earned easy money with high-risk bonds invented after the financial crisis are being forced to accept that the rules have changed: they may not get paid. Banks typically sold these perpetual bonds – known as AT1 bonds – with five years before an option to repay was triggered. In the past, investors got their money back, and banks replaced the bonds with new ones, but…

Raytheon Technologies secures $621.4M Missile Defense Agency contract

© Reuters. FILE PHOTO: A worker is reflected in a wall of the Reserve Bank of Australia (RBA) head office in central Sydney, Australia, March 1, 2016. REUTERS/David Gray By Devayani Sathyan BENGALURU (Reuters) – Australia’s central bank will keep key interest rate unchanged at 3.85% on Tuesday despite inflation staying well above the target range, according to a Reuters poll of economists who were divided on when and where rates would peak this year. The Reserve Bank of Australia (RBA) raised rates last month after pausing in April, confounding financial markets and a majority of economists who were expecting…

© Reuters. FILE PHOTO: Toyota Motor Corporation President Akio Toyoda attends a press conference over rigging safety tests by its affiliate Daihatsu that affected 88,000 vehicles, in Bangkok, Thailand, May 8, 2023. REUTERS/Athit Perawongmetha By David Dolan and Daniel Leussink TOKYO (Reuters) – Two of the largest U.S. public pension systems have voted against the re-election of Toyota Motor (NYSE:) Corp chairman Akio Toyoda, shareholder voting records showed, sharpening the focus on the automaker’s annual meeting later this month. The California Public Employees’ Retirement System (CalPERS) and the Office of the New York City Comptroller both also voted for a…

In the days since he struck a deal to avoid a national default, President Biden has steadfastly refused to boast about what he got as part of the agreement.“Why would Biden say what a good deal it is before the vote?” he asked reporters at one point, referring to himself in the third person. “You think that’s going to help me get it passed? No. That’s why you guys don’t bargain very well.”The president calculated that the more he bragged that the deal was a good one for his side, the more he would inflame Republicans on the other side,…

Bilibili’s shares fell in early Asian trading Friday, as investors weighed tepid near-term growth prospects even as the company’s bottom line improved in its latest quarterly results. Bilibili’s Hong Kong-traded shares HK:9626 were 3.3% lower at HK$120.00, bucking a rally in tech stocks in the Asian financial hub. The Hang Seng Tech Index was up 3.9%, while the city’s broader benchmark index HK:HSI was up 2.9%. The…