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Fight for AI talent as companies offer million dollar packages

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As the demand for expertise in generative AI surges, tech companies are engaging in fierce competition, offering million-dollar compensation packages and even poaching entire engineering teams.

This fervent pursuit of AI talent occurs against a backdrop of layoffs in other tech sectors and a significant reallocation of resources towards AI development.

Tech companies are going to unprecedented lengths to attract individuals with expertise in generative AI, the technology that underpins innovations like ChatGPT and humanlike bots.

With a shortage of qualified candidates, these companies are resorting to eye-catching compensation packages and aggressive recruitment tactics to secure the necessary talent.

According to Naveen Rao, head of Generative AI at Databricks, the pool of individuals capable of training large language models (LLMs) from scratch or tackling complex AI problems is extremely limited.

AI is becoming a top job skill.

Requisite skills

Rao estimates that only a few hundred people possess the requisite skills, leading to intense competition among employers.

To entice top-tier candidates, companies are offering total compensation packages exceeding $1 million annually, far surpassing industry norms.

Sales professionals with expertise in AI are also in high demand, commanding double the salary of their counterparts in other sectors.

The scarcity of AI talent is reflected in significant salary increases across managerial and non-managerial roles within the industry.

A survey by WTW revealed base-pay increases ranging from 5% to 19% from April 2022 to April 2023, with median compensation figures reaching staggering heights.

Startup struggle

Startups, in particular, are facing challenges in attracting and retaining talent due to their limited resources compared to tech giants like Google and Meta.

Despite offering potentially lucrative equity incentives, startups struggle to compete with the financial stability and resources provided by established companies.

Some individuals with entrepreneurial aspirations are leveraging the demand for AI expertise by launching their own startups.

Arthur Mensch, a former Google employee, founded Mistral AI, which quickly gained a valuation of over $2 billion within its first year.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

Tech

Airbus A320 fleet faces software upgrade due to risk

Airbus alerts A320 operators to urgent software fix after JetBlue incident raises safety concerns

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Airbus alerts A320 operators to urgent software fix after JetBlue incident raises safety concerns

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In Short:
– Airbus warns over half of A320 fleet needs software fixes due to potential data corruption risks.
– Affected airlines must complete upgrades before next flights, with operational disruptions anticipated during a busy travel season.

Airbus has issued a warning regarding its A320 fleet, indicating that over half of the active jets will require a software fix.

It follows a recent incident involving a JetBlue Airways aircraft, where “intense solar radiation” was found to potentially corrupt data crucial for flight control system operation.

The European plane manufacturer stated that around 6,500 jets may be affected. A regulation mandates that the software upgrade must occur before the next scheduled flight.

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Operational disruptions for both passengers and airlines are anticipated. The issue arose from an incident on October 30, where a JetBlue flight experienced a computer malfunction that resulted in an uncommanded descent. Fortunately, no injuries occurred, but the malfunction of an automated computer system was identified as a contributing factor.

Airlines, including American Airlines Group, have begun to implement the required upgrades.

The majority of affected jets can receive an uncomplicated software update, although around 1,000 older models will necessitate an actual hardware upgrade, requiring grounding during maintenance.

Hungarian airline Wizz Air has also initiated necessary maintenance for compliance, potentially affecting flights. This announcement has surfaced during a busy travel season in the US, with many facing delays due to other factors as well.

Regulatory Response

The European Union Aviation Safety Agency has mandated that A320 operators replace or modify specific elevator-aileron computers. The directive follows the JetBlue incident, where a malfunction led to a temporary loss of altitude.

Airbus’s fix applies to both the A320 and A320neo models, representing a vital response in ensuring aircraft safety.


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China blocks ByteDance from using Nvidia chips in new data centres

China blocks ByteDance from using Nvidia chips, tightening tech control and pushing for domestic AI innovation amid U.S. restrictions.

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China blocks ByteDance from using Nvidia chips, tightening tech control and pushing for domestic AI innovation amid U.S. restrictions.


Chinese regulators have moved to block ByteDance from deploying Nvidia chips in newly built data centres, tightening control over foreign technology used by major Chinese tech giants. The decision comes after ByteDance made substantial purchases of Nvidia hardware amid fears of shrinking supply from the United States.

Washington has already restricted the sale of advanced chips to China, allowing only weakened versions into the market. Beijing’s latest move reflects its push to reduce dependence on U.S. technology and accelerate home-grown AI innovation.

The ban places operational and financial pressure on ByteDance, which must now work around a growing pile of Nvidia chips it is no longer allowed to use. Domestic suppliers like Huawei are expected to step in as China intensifies its pursuit of tech self-reliance.
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OpenAI launches shopping research tool for ChatGPT users

OpenAI launches shopping research tool to enhance e-commerce experience ahead of holiday season spending boost

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OpenAI launches shopping research tool to enhance e-commerce experience ahead of holiday season spending boost

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In Short:
– OpenAI’s “shopping research” tool helps users find detailed shopping guides tailored to their preferences.
– Users can access Instant Checkout for purchases while ensuring user chats are not shared with retailers.
OpenAI has launched a new tool called “shopping research,” coinciding with an increase in consumer spending ahead of the holiday season.This tool is aimed at ChatGPT users seeking comprehensive shopping guides that detail top products, key differences, and the latest retailer information.

Users can customise their guides based on budget, features, and recipients. OpenAI notes that while the tool takes a few minutes to generate responses, users can still use ChatGPT for quicker queries like price checks.

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When users ask specific prompts, such as finding a quiet cordless stick vacuum or a gift for a niece who loves art, the shopping research tool will appear automatically. It can also be accessed via the menu.

Shopping Research

OpenAI has been expanding its e-commerce capabilities, with the introduction of the Instant Checkout feature in September, enabling purchases directly through ChatGPT.

Soon, users of the shopping research tool will also be able to use Instant Checkout for making purchases.

OpenAI assures that shopping research results are derived from publicly available retail websites and will not disclose user chats to retailers, although it does warn that inaccuracies may occur in product availability and pricing.

Shopping research is now available to OpenAI’s Free, Go, Plus, and Pro users logged into ChatGPT.


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