Elon Musk Foresees AI-driven Zero-Day Workweek Future
November 3, 2023
The Future of Work: AI and Unemployment
The concept of a zero-day workweek might not be as implausible as it sounds. Futurist Elon Musk has suggested that the rise of artificial intelligence (AI) may render jobs obsolete. To quote him, “No job is safe from the reach of AI capabilities”, a sentiment he offered during a conversation with UK Prime Minister Rishi Sunak.
These provocative views were shared at Lancaster House, following the UK government’s two-day summit at Bletchley Park. The summit concluded with the signing of a vital agreement on safety testing for AI frontier models by industry leaders including OpenAI, Google DeepMind, and Meta.
With employment still in debate, today’s expected nonfarm payrolls report may reveal if the markets are set to softly land. Finance expert Christopher Robb is among those eagerly awaiting this revelation.
Apple’s Fourth Quarter: A Dip in Shares
Despite outdoing earnings forecasts and demonstrating a robust performance in its services business, Apple Inc.’s shares slumped by 3.4% on Thursday to $171.60. This followed their quarterly report announcing four consecutive quarters of declining revenues.
CFO Luca Maestri’s prediction of stagnant total revenue for Q1 compared to last year along with an increase in year-over-year iPhone revenue failed to pacify investors. Skeptics like Investing Group Leader Jonathan Weber and Livy Investment Research suggest Apple’s repeated revenue drops along with its premium valuation, indicate an increased vulnerability to challenges in consumer spending.
The Future of Amazon’s Physical Retail
Amazon is shuttering its physical apparel shops just one year after launch, reflecting their strategy to concentrate brick-and-mortar investments towards their burgeoning grocery sector instead. This change in tactic follows the previous year’s shutdown of all their physical bookstores, as well as the Amazon 4-star and pop-up shops in both the US and UK.
However, a company spokesperson ensures that Amazon’s belief in the importance of physical retail remains steadfast. They pledge to continue expanding Amazon Fresh and Whole Foods Market. These decisions coincide with the upcoming holiday season, when spending is predicted to return to pre-pandemic levels.