Day: May 11, 2023

Can artificial intelligence create more jobs?

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Artificial intelligence (AI) can increase productivity, boost economic growth, alter existing occupations and generate new ones. Without a doubt, AI will result in some job displacement in the short term, but there are numerous reasons to think that AI will also contribute to creating new jobs and economic growth in the long run. Artificial intelligence can also help workers become more effective and productive by giving them access to real-time data and insights, enabling them to enhance their performance and make better decisions. In addition, AI can generate new employment…

IMF Says Zimbabwe Gold-Backed Digital Currency a Potential Threat to Financial Stability – Africa Bitcoin News

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The International Monetary Fund has urged Zimbabwean authorities to weigh the benefits versus risks of issuing a gold-backed digital currency. Instead of using gold-backed digital currency to limit the demand for the greenback, the global lender said monetary authorities should consider liberalizing the foreign exchange market. Risks to Macroeconomic and Financial Stability The International Monetary Fund (IMF) has called on Zimbabwean monetary authorities to carefully consider the benefits of issuing a gold-backed digital currency versus the potential risks to the economy. Instead of rushing to issue the gold tokens, the…

Disney Releases Fiscal Q2 2023 Earnings Report, DIS Stock Down 5% in Pre-market

The recent earnings report is the second one since Iger became the CEO again in November 2022. The Walt Disney Company (NYSE: DIS) posted revenue and profit in line with analysts’ expectations for its fiscal Q2 2023. The company, which released its second quarter and six months’ earnings for fiscal 2023, said its quarterly revenue grew 13% to $21.82 billion. Meanwhile, analysts expected $21.78 billion. Revenue also jumped 20% in the six months. Walt Disney added that diluted earnings per share from continuing operations increased from $0.26 in fiscal Q2…

Franklin Templeton Files for Blockchain Fund Targeting Institutional Investors Looking at Crypto

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Former US Secretary of Labor Robert Reich Urges Bypassing Congress to Raise Debt Ceiling – Economics Bitcoin News

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Robert Reich, former secretary of labor in the U.S., has called for the government to bypass Congress in order to raise the debt ceiling unilaterally. Reich states that the constitution of the U.S. gives President Biden the faculty of ignoring this debt limit, declaring it unconstitutional — explaining its existence is less significant than the mandate of not questioning the validity of the U.S. public debt. Robert Reich Calls to Ignore Congressional Debt Ceiling Robert Reich, an economist who served as U.S. secretary of labor during the government of President…

OpenAI CEO to Testify in US Senate amid Raising Concerns over Used Technology

Last week, OpenAI CEO attended a meeting of the White House that was devoted to the regulation of AI. And according to Altman, White House representatives and OpenAI executives are “on the same page” in their vision.  OpenAI CEO Sam Altman is preparing to testify in US Senate next week, which will be his first experience of testimony before Congress. On Monday, Sam Altman will join members of the House of Representatives for dinner, and on Tuesday, he will testify before the Senate Judiciary Subcommittee on Privacy, Technology & the Law.…

JPMorgan CEO Jamie Dimon in Favor of Abolishing Debt Limit; States Getting Close to Default Can Cause Panic – Economics Bitcoin News

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Jamie Dimon, CEO of JPMorgan, stated that he favored abolishing the debt limit, giving the government the faculties to extend its debt without congressional action. Dimon also stated that even the drama surrounding the build-up to extending or not extending the debt limit could cause panic, as the U.S. economy is foundational for the world. JP Morgan’s Jamie Dimon Favors an Unlimited Debt Ceiling Jamie Dimon, CEO of JPMorgan, one of the largest banks in the world, has given his opinion when it comes to the issue of the congressional…

‘We can’t keep putting band-aids on the current system’ — OKX

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A provocative new advertising campaign from cryptocurrency exchange OKX challenges traditional finance and Web3 competitors by calling for a rewrite of current financial and digital systems. The company released its latest production-quality advert, which subtly aims at the American exchange Coinbase and the broader traditional finance space. In an in-depth interview with Cointelegraph, OKX chief marketing officer Haider Rafique outlined the exchange’s belief that blockchain-enabled technology is imperative in rebuilding financial infrastructure and empowering digital ownership. Under Rafique’s tenure as CMO, OKX has embarked on high-profile partnerships and bold advertising campaigns…