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Tech

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.

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Tech

Trump retreats in tech war with China – But why?

Trump reverses software rule for semiconductors; is the U.S.-China tech war calming? Insights from Brad Gastwirth.

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Trump reverses software rule for semiconductors; is the U.S.-China tech war calming? Insights from Brad Gastwirth.


In a stunning shift, the Trump administration has reversed a key rule restricting U.S. software used to design semiconductors.

Is the tech war with China cooling? Or is this just a calculated pause?

We ask Brad Gastwirth about the role of rare earths, diplomacy, and what it means for global chipmakers.

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker
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#TechWar #ChinaTrade #Semiconductors #TrumpPolicy #ChipMakers #EDA #BradGastwirth #TickerNews

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Tech

Qantas cyber attack affects six million customers’ data

Qantas reports cyber attack affecting up to six million customers, compromising personal data but not financial details.

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Qantas reports cyber attack affecting up to six million customers, compromising personal data but not financial details.

In Short:
Qantas confirmed a cyber attack affecting up to six million customers, compromising personal information like names and email addresses, but not financial details. CEO Vanessa Hudson apologised and reassured that operations remain safe, while urging customers to utilise online security measures.

Qantas has confirmed that up to six million customers have been impacted by a significant cyber attack.

The airline stated that while passport and financial details were not compromised, hackers accessed personal information including names, email addresses, frequent flyer numbers, and dates of birth.

Suspicious activity was detected on Monday concerning a third-party platform utilized by Qantas contact centres. The airline acted immediately to contain the breach, asserting that operations and safety remain untouched.

Qantas specified that credit card information, financial data, and passport details were not stored in the compromised system. No frequent flyer accounts, passwords, or PINs were affected.

Qantas can confirm that a cyber incident has occurred in one of its contact centres impacting customer data. The system is now contained.

We understand this will be concerning for customers. We are currently contacting customers to make them aware of the incident, apologise and provide details on the support available.

The incident occurred when a cyber criminal targeted a call centre and gained access to a third party customer servicing platform.

There is no impact to Qantas’ operations or the safety of the airline.

Chief executive Vanessa Hudson apologised to customers and ensured collaboration with various cybersecurity authorities, including the Australian Cyber Security Centre and the Federal Police.

Hudson acknowledged the anxiety this incident may cause, affirming their commitment to customer data protection. Qantas is in the process of reaching out to affected customers to offer support.

The cyber attack follows similar incidents affecting other airlines, underlining the ongoing risks to travel companies.

A government spokesperson recommended that customers contact Qantas for assistance and suggested basic online security measures such as updating software, using strong passwords, and enabling multi-factor authentication.

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Meta wins court case over AI copyright

Meta wins court case, ruling AI training on copyrighted content qualifies as “fair use” and transformative. #Meta #AInews #Copyright

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Meta wins court case, ruling AI training on copyrighted content qualifies as “fair use” and transformative. #Meta #AInews #Copyright


Meta has scored a major courtroom victory in the ongoing legal battle over whether AI models can be trained on copyrighted content.

A U.S. federal judge ruled that Meta’s use of books and creative works to train its LLM (Large Language Model) is protected under the “fair use” doctrine, as its purpose was “transformative” and not designed to compete with the original authors.

#Meta #AInews #Copyright #TickerNews

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