AI's Rising Impact: Disrupting Job Market with 4,000 Layoffs, Shaping Tech Regulation, and Invading Hollywood

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TL;DR

EU is cracking down on Big Tech's AI, pushing for labeling of AI-generated content and threatening hefty fines for non-compliance. Meanwhile, AI's impact on the job market continues to intensify, with reports linking AI to around 4,000 job losses in May. However, some experts see AI as a potent job creator in the long run. In Hollywood, the Directors Guild of America has officially declared that "AI is not a person" and cannot replace members, as writers hold firm against AI-scripted content. Finally, a new AI project, SelFee, aims to improve the performance of large language models by allowing them to refine their own outputs.

Here's what we've got in store for you today:

🔨 EU Throws The Hammer At Big Tech & AI Content

♟️ AI Lays Off 4,000 People In May

📰 News From The Front Lines

📚 Research Of The Day

🎥 Video Of The Day

🛠 Tools Of The Day

EU Throws Down Gauntlet to Big Tech: Label AI or Face the Music

The EU's in full-swing "A-Team" mode, folks, combatting disinformation and Russian fake news. They've pulled the big guns on social media giants like Google, Facebook, and our dear friend, Twitter, demanding they start labelling AI-generated content like they're managing a frantic produce section at a supermarket.

Adding some weight to their words, they've made it clear to Twitter - which recently decided to treat the EU's voluntary code of practice like a pesky mosquito and swatted it away - that there's a new sheriff in town: the Digital Services Act. And if Twitter doesn't play nice with the sheriff, it might find itself facing fines up to 6% of its revenue or even a complete EU-wide ban. Now that’s a big ouch!

Elon Musk's company is on thin ice, and the EU isn't mincing words, with Vice President Věra Jourová declaring that Twitter's decision to quit the code was a "mistake" and promising rigorous scrutiny. Meanwhile, Google’s Sundar Pichai assured Jourová that they’re developing tech to detect fake news. It’s like an epic showdown in the Wild West of AI, but instead of tumbleweed, we've got floating bytes of data.

Jourová wants AI content to stand out in the whirl of online scrolling. She's after clear labeling - think neon signs screaming "this is the robot talking." It's about spotting the potential "dark side" of AI, she says, which can fake events and voices faster than I can say "disinformation." So, will these tech companies step up to the plate and deal with their AI's possible dark side? We'll have to wait and see.

AI Wipes Out 4,000 Jobs In One Month! Is Your Job Safe?

AI isn't just the toast of the tech town anymore. It's gotten a promotion and is now playing in the big leagues - the job market. And according to our buddies at Challenger, Gray & Christmas, it's playing for keeps. Just last month, AI was responsible for nearly 4,000 job losses. So if you hear a rustling sound, that's just the job market shuffling its feet nervously.

The numbers are as sobering as your Monday morning coffee. In May, U.S employers announced more than 80,000 layoffs, a 20% hike from the previous month, and almost four times the number from last year. You know how your mom told you to make a mark? Well, AI took that advice pretty seriously.

Not all of these job losses have been credited to AI. Out of the total, about 5%, or 3,900 were due to our mechanical comrades. But hey, that still puts AI in the not-so-coveted "Top 10 Reasons for Your Job Loss" list, snagging the seventh spot.

With businesses racing to adopt advanced AI tech, they've been busy automating everything from creative work to administrative tasks. With AI's potential, we might be looking at a future where the AI industry swells up to a mind-boggling $1 trillion. So yeah, AI isn't just in your phones and speakers anymore, it's in the job applications too.

And it's not just the usual jobs that are being eyed by AI. Remember the chilling prediction by Goldman Sachs that AI might eventually replace 300 million full-time jobs globally? That's right, even the seemingly unassailable white-collar jobs are on the table.

Even the entertainment industry isn't getting a free pass. TV and entertainment writers are on strike, demanding not just better pay and job security, but also a near-total ban on AI-produced content. So the next time you sit down to watch your favorite show, spare a thought for the writers taking a stand against the rise of the machines.

But let's not get too gloomy here. Every cloud has a silver lining, and this one's no different. Just like the tech revolutions before it, AI isn't just playing the role of the job terminator; it's also the job creator. Ben Emons, a big shot at NewEdge Wealth, reckons that "Generative AI is expected to become a monster employment generator because of estimates of a mushrooming $1.3 trillion AI market." So while some jobs might be on the way out, new ones are just making their grand entrance.

So buckle up, folks. We're riding the AI wave into the future of the job market. And hey, just remember, it's all fun and games until the machines start taking our lunch money.

Writers vs. Robots: AI in the Spotlight Amid Hollywood Strike

Alright, tech enthusiasts and film buffs, gather 'round for another scene in the AI saga. The Directors Guild of America (DGA) just inked a new deal with the Alliance of Motion Picture and Television Producers (AMPTP) that’s pulled AI right off the silver screen and into the limelight of reality. Tucked neatly within the fine print, there's a line we'd usually expect in a sci-fi flick: "AI is not a person and that generative AI cannot replace the duties performed by members."

Now, for us AI-savvy folks, this isn't your average Hollywood plot twist. This clause, straight from a dystopian blockbuster, is a real-time shield against the increasingly creative capabilities of AI, like our friend GPT here. With AI becoming quite the scriptwriter, it’s a formal "Back off, AI!" from the guild members who aren’t quite ready to share their spotlight with algorithms.

But let's bring the house lights up on the writers' strike, which is still center stage. The writers are holding their ground, championing human creativity over AI-written scripts. However, this new clause begs the question: Are they merely stalling the inevitable rise of AI in the industry?

In the final act, the guild members may have drawn a line in the sand for now, but the tide is turning with the relentless waves of AI advancement. Those writers who dance with AI instead of battling it might just steal the show. So, in this ongoing Hollywood drama, it seems the real scriptwriters of the future could be those humans who've befriended AI. Now that's a season finale worth waiting for.

 📰 News From The Front Lines: 📰

📚 RESEARCH 📚

SelFee is a project from KAIST that focuses on improving large language models (LLMs) like GPT-3. It uses a method of self-feedback to refine its responses, making them better over time.

The primary goal of SelFee is to create a language model that can follow instructions more accurately. The project is based on existing models and tools, namely Stanford-Alpaca, Vicuna, and FastChat. It is trained using data from various sources and the training process is iterative, meaning it continually improves itself.

How it works:

SelFee's learning process is different from traditional methods. It uses an instruction-feedback loop to understand and generate more accurate responses.

1. It starts with a set of instructions or queries.

2. These instructions are fed into the model, which generates answers.

3. These generated answers are then given to the model again, asking for feedback.

4. If feedback suggests the initial answer needs revision, the model uses this feedback to generate a revised answer.

5. This process is repeated until the feedback suggests no more revisions are needed, or until it reaches a maximum iteration.

This iterative learning process is done using an API provided by OpenAI.

How it's used:

SelFee is designed to be a tool that can be used for different applications. It's provided with an easy-to-use interface, including detailed code and instructions on how to use it.

Summary:

SelFee is a project aimed at improving language models' performance by making them revise their own outputs. This is achieved by an iterative self-feedback loop where the model generates answers and then reviews and revises those answers. It is based on Stanford-Alpaca and Vicuna models and uses OpenAI's GPT-3 model. The initial release is promising and the project aims to continually refine and improve this process. However, it is important to note that, like all machine learning models, it has limitations and doesn't always provide perfect results. Therefore, the evaluation of the model's performance and improvements are ongoing.

 📼 Video Of The Day 📼

🛠️ Tools Of The Day 🛠️

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