G7 Takes Bold Steps to Navigate AI Revolution, Calling for “Human Centric” Policies and Ethical Guardrails

1. G7 Takes Bold Steps to Navigate AI Revolution, Calling for “Human Centric” Policies and Ethical Guardrails

The G7, comprising the world's leading economies, is addressing the transformative power and risks of AI, particularly generative models like OpenAI's ChatGPT.

Acknowledging the urgency of the AI issue, they've agreed to a "risk-based" approach, addressing security, privacy, data ownership, and ethics. Discussions have underscored the need for regulatory 'guardrails' in AI development, considering both its potential benefits and risks. Moreover, efforts towards defining regulations, educating about AI, and ensuring a "human-centric" approach are underway.

Also highlighted is the importance of international collaboration, multidisciplinary research, and public engagement in AI discussions and policy formation.

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2. Singapore Enhances AI and Data Analytics Talent in Finance Sector

Singapore plans to broaden its artificial intelligence (AI) and data analytics talent pool within the finance sector.

The Monetary Authority of Singapore, in collaboration with local banks and schools, will develop training programs incorporating the latest AI developments. According to Sopnendu Mohanty, MAS’ Chief Fintech Officer, there is a global scarcity of AI resources. Singapore's strategy focuses on responsible AI that is ethical, fair, and transparent, and targets key areas like experimentation, financing investments, and commercially scalable ideas.

By 2030, Singapore aims to be a leader in developing and deploying AI solutions in healthcare, finance, and education sectors.

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3. Bill Gates Foresees AI Chatbots Enhancing Children’s Reading and Writing Skills in Near Future

Microsoft co-founder Bill Gates believes that AI chatbots, like OpenAI's ChatGPT and Google's Bard, could improve children's reading and writing skills within the next 18 months.

Despite the complexity of teaching writing skills to computers, these AI systems have shown proficiency in recognizing and recreating human-like language. They could serve as affordable tutors, helping bridge the educational gap for students unable to afford private human tutoring.

While improvements in understanding and recreating human language are needed, Gates is optimistic about the technology's rapid progress and its potential broad applicability in the near future.

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4. OpenAI to Release New Open-Source Language Model Amidst Rising Competition 

OpenAI plans to release a new open-source language model, as per The Information, amidst the rising competition from free AI models.

However, it's speculated that the new model may not compete directly with OpenAI's commercial GPT versions. Recent developments in free AI models, such as Meta's LLaMa, have raised concerns among tech companies about their proprietary models. Google engineer Luke Sernau warned that Google and OpenAI may lose ground if their models remain proprietary, with open-source counterparts becoming increasingly efficient, customizable, and privacy-friendly.

These developments signify a growing shift towards open-source AI in the industry.

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5. BT Group to Cut 42% of Workforce by 2030 Leveraging AI and Automation

Global telecom giant BT Group plans to lay off up to 55,000 employees, representing 42% of its workforce, by the end of the decade, largely due to AI and automation.

The move will make the company more efficient and cost-effective in managing its volume business of 30 million customers. CEO Philip Jansen cited the potential of generative AI and large language models for new services and products.

The reduction will be achieved through attrition and reskilling, with the target workforce being 75,000 to 90,000 within five to seven years.

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