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Intel warns of two-year chip shortage

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CEO Pat Gelsinger has warned the worst of the global chip crisis is yet to come, after Intel reported flat revenues for 2021.

The chip shortage, caused by a combination of the pandemic, global supply shortages and poor relations between the US and China is likely to last well into 2023, according to Gelsinger.

The company reported a slight two percent YoY revenue rise for the second quarter of the year, from $18.2 billion to $18.5 billion. It forecasts a 5.4% revenue increase for Q3, as well as a modest full-year growth of one percent to $73.5 billion. 

What is big tech doing?

Intel is set to announce the construction of new semiconductor factories in Europe and the US, after the Biden administration announced $52 billion of infrastructure spending to combat the shortage.

The firm’s recently embarked upon IDM 2.0 strategy combines internal manufacturing capacity with the use of third-party producers, which positions the company to weather the challenges and build a more resilient supply chain.

Roughly 25% of Intel’s revenue is tied up in China, which Gelsinger says has “an insatiable thirst for technology that helps them digitise their economy”.

He said he hoped that Intel could be “as influential as possible” in bringing back good relations between the US and China.

In its roadmap to 2025, Intel also announced a move to smaller, more powerful semiconductors to combat chip shortages

The company aims to move away from naming its chip tech using nanometres – which they originally used to name the small spaces between transistors, but has since become a marketing term.

“It’s a lot of years since we were actually measuring physical dimensions,” says Gelsinger, acknowledging that the “industry has drifted away from how Intel looked at it.”

“It’s a new era of 3D structures and atomic level devices,” he says, citing new architecture and power delivery networks that he hopes will drive the firm forward in the coming decade.

find out more about the global chip shortage here

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Tech

Ramifications of a TikTok ban to impact Open Internet

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The United States’ longstanding advocacy for an open internet faces a critical juncture as Congress considers legislation targeting TikTok.

The proposed measures, including a forced sale or outright ban of TikTok, have sparked concerns among digital rights advocates and global observers about the implications for internet freedom and international norms.

For decades, the U.S. has championed the concept of an unregulated internet, advocating for the free flow of digital data across borders.

However, the move against TikTok, a platform with 170 million U.S. users, has raised questions about the consistency of America’s stance on internet governance.

Read more – Big tech to handover misinformation data

Critics fear that actions against TikTok could set a precedent for other countries to justify their own internet censorship measures.

Russian blogger Aleksandr Gorbunov warned that Russia could use the U.S. decision to justify further restrictions on platforms like YouTube.

Similarly, Indian lawyer Mishi Choudhary expressed concerns that a U.S. ban on TikTok would embolden the Indian government to impose additional crackdowns on internet freedoms.

Moreover, the proposed legislation could complicate U.S. efforts to advocate for an internet governed by international organizations rather than individual countries.

China, in particular, has promoted a vision of internet sovereignty, advocating for greater national control over online content.

A TikTok ban could undermine America’s credibility in urging other countries to embrace a more open internet governed by global standards.

 

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BlackRock CEO Larry Fink says AI leads to higher wages

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Larry Fink, the CEO of BlackRock Inc., has outlined his vision for the impact of the firm’s investment in artificial intelligence.

During the company’s recent earnings call, Fink emphasized the connection between productivity gains driven by AI and the potential for rising wages among BlackRock’s workforce.

He explained the firm’s ambition to leverage AI technology to enhance efficiency, enabling employees to accomplish more with fewer resources.

Fink’s remarks underscore BlackRock’s strategic approach to harnessing AI as a tool for optimising operations and driving organisational growth.

Read more – Australia’s productivity gap widens

By leveraging AI-driven productivity enhancements, the company aims to empower its employees to deliver greater value, thereby paving the way for wage increases across the organisation.

The CEO’s statement reflects a broader trend in the intersection of technology and labor dynamics, where advancements in AI and automation have the potential to reshape workforce dynamics and compensation structures.

Fink’s optimism about the transformative impact of AI investment on employee wages highlights BlackRock’s commitment to embracing technological innovation as a catalyst for sustainable business growth and employee prosperity.

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How Udio could threaten the entire music industry

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The music industry faces a formidable challenger in the form of AI technology application Udio.

With the emergence of a groundbreaking new app, concerns are mounting over its potential to revolutionise music creation and consumption.

The app, powered by advanced algorithms and machine learning, promises to streamline the music production process, allowing users to generate high-quality tracks with minimal effort.

Tom Finnigan from Talkingbrands.ai joins to discuss Udio, along with the goods and bads of AI integration in the music industry.

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