Tanzanian Currency Rises Most Since January
Tanzania's shilling strengthened the most since mid January, paring one of the world's biggest yearly losses.
The shilling rose 1% to 2,588.12 per dollar on Wednesday, bringing gains for the month to 3.7%. That's pared its loss for the year to about 7%.
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Forbes
an hour ago
- Forbes
How to Future-Proof Your Workforce for AI
Stand Together Is AI poised to automate all human work — or will it bring us more meaningful, higher-paying jobs? It depends who you ask. Tech CEOs have warned of a coming tidal wave. Anthropic CEO Dario Amodei predicted AI could eliminate half of all entry-level white-collar jobs within five years. OpenAI's Sam Altman expects artificial general intelligence to surpass humans at all economically valuable tasks. Some economists see a slower story. MIT's Daron Acemoglu estimates that AI will increase U.S. productivity by just 0.05% annually over the next decade — based on the idea that most companies won't change how they operate. Predicting exactly how AI will reshape jobs might be impossible. But if you're leading a business, your priority isn't knowing precisely who's correct — it's preparing your organization and workforce for an AI-driven future. But why is forecasting AI's impact on jobs so difficult, even for experts? Understanding the forces that make it hard to predict is also what helps leaders understand how to prepare. I think of this as AI's "Three-Body Problem" — a nod to the famously unpredictable physics phenomenon, where adding a third interacting body makes future trajectories chaotic and impossible to forecast. Similarly, three interacting factors — AI capabilities, adoption speed, and job creation potential — make AI job predictions uniquely challenging. Let's briefly explore each one. 1. What will AI be able to do? Experts fundamentally disagree about how powerful — and how fast — AI models will become. Some predict artificial superintelligence could emerge as soon as 2027, driven by self-improving systems that compound capabilities exponentially. Others believe we're nearing the limits of current scaling laws, and that even human-level intelligence may still be 15 years away. Additionally, AI's abilities are uneven — superhuman in some tasks yet subhuman in others. For example, Ethan Mollick recently demonstrated that GPT-4o could ace an MBA-level strategy case with remarkable nuance — yet failed at solving a basic riddle requiring common sense logic. It's a reminder that raw capability doesn't guarantee reliability across domains. 2. How will we choose to use AI? Just because AI can automate a job — or parts of one— doesn't mean it will. The pace at which we integrate AI into the workplace will be wildly uneven. Some sectors will move as fast as the technology itself. Others will be slowed by regulation, union rules, institutional inertia, or cultural preferences. In industries with little financial pressure to cut costs, there may simply be no urgency to change. Something I think about a lot: We still have gas station attendants pumping gas in Oregon and New Jersey — not because it's technologically necessary, but because we've chosen to protect those jobs. Predicting where and how fast adoption will happen is tough, because it's ultimately a question of human behavior. 3. What new jobs will AI create? AI will create new jobs — but how many, and what kind, remains unknown, especially if it quickly automates even the roles it helps create. Historically, new technology has been a net job creator. The internet gave rise to SEO specialists and app developers, and the smartphone boom created whole industries around mobile design and delivery. But AI is different: It could quickly take over the roles it helps create, making it harder to predict the net effect on employment. Taken together, the Three-Body Problem makes AI job forecasting impossible to pin down. AI capabilities, adoption speed, and job creation are all unpredictable — yet understanding these complexities is only half the battle. When nobody can confidently predict AI's trajectory, how do you prepare your business and your employees for what's ahead? Precisely because AI's trajectory is uncertain, organizations must build the muscle to adapt quickly. Readiness is the best hedge against uncertainty. As Bijal Shah, CEO of Guild, put it, 'Employers who win in this new world of work driven by AI will be those who invest in making their workforce more adaptable and resilient — not just for today's skills, but for tomorrow's unknowns.' So, where should leaders begin? The following strategies are no-regrets investments — moves that deliver value no matter how fast AI change arrives. They offer ways not just to survive the shifts ahead, but to build more agile organizations and more meaningful, purposeful work for employees. Forget titles. Jobs are a collection of skills and abilities. Titles make jobs sound fixed. But they're really collections of skills and abilities — Lego pieces —that can be reassembled creatively. Organizations like Censia are already shepherding adaptations — such as Dunkin' cashiers becoming pharmacy techs. Thinking in skills and desired traits frees businesses and workers from obsessing over whether a job stays or goes. 'The winners in this AI era will be those who stop managing roles and start orchestrating skills,' said Joanna Riley, CEO of Censia. Make work suck less. AI can automate or reduce tedious job aspects, helping less experienced employees quickly take on more complex, meaningful, and better-paid work. 'The new versions of these jobs are just better — more interesting, creative, and human-oriented,' said Brandon Sammut, chief people officer at AI company Zapier. While there's a risk that these more meaningful and productive jobs will mean fewer jobs overall, the immediate opportunity is clear: Deploy AI tools that make jobs more enjoyable (less rote, routine work) and purposeful. Help people do harder stuff. Automating simpler tasks means work becomes more rewarding and challenging. Companies must help employees elevate their skill levels and continuously push into domains where humans have a unique advantage. 'We're headed toward a world where only high-skill, high-complexity work survives,' David Blake, CEO of Degreed, noted. 'The real challenge is helping people make that leap.' Durable human skills — like creativity, problem-solving, empathy, and mathematical reasoning — will remain essential. Support employees to use AI in daily work. It's management malpractice not to. 'It is management malpractice not to create an environment where employees are using AI in concrete ways in their daily work,' Sammut said. Knowing how to use AI is fast becoming table stakes to stay employable. The people most at risk of being replaced aren't being replaced by AI — they're being replaced by other humans who know how to use it. Helping employees integrate AI into their daily workflow doesn't just boost productivity — it also strengthens your employer value proposition. People are drawn to workplaces where they remain relevant, are continually challenged, and engage in meaningful, purposeful work. Waiting for certainty isn't an option. Leaders must act now, building strategies resilient to multiple outcomes. If you want to future-proof your business, start by future-proofing your people. Follow Allison Salisbury's writing and insights on her LinkedIn. Allison Salisbury is CEO of Humanist Venture Studio, which is supported by Stand Together, an organization that partners with changemakers who are tackling the root causes of America's biggest problems. Learn more about Stand Together's efforts to transform the future of work and explore ways you can partner with us.
Bloomberg
an hour ago
- Bloomberg
Bloomberg Surveillance: Inflation and Tariffs
Watch Tom and Paul LIVE every day on YouTube: Bloomberg Surveillance hosted by Tom Keene & Paul Sweeney June 12th, 2025 Featuring: 1) Frances Donald, Chief Economist at RBC, joins for a discussion on CPI and the labor market and whether the Fed will be late to cut rates. The Federal Reserve is rewriting its strategy document to balance the lessons learned from low inflation before the pandemic and the painful high inflation that followed, aiming to maximize economic benefits for working Americans while controlling inflation. 2) Rich Clarida, Global Economic Advisor at PIMCO and former Fed Vice Chair, joins for an extended conversation on the Fed, rates, and the US economy. Today's 30-year Treasury auction is providing a fresh gauge of investor appetite for long-dated debt amid concerns over mounting deficits and their impact on demand. 3) Ian Lyngen, Head of US Rates at BMO Capital Markets, talks about the outlook for the 10-year-yield and brings us into PPI. President Trump's remarks on imposing unilateral tariffs on dozens of US trading partners and heightened tensions in the Middle East contributed to the risk-off tone across markets today. 4) Anton Posner, CEO at Mercury Resources, discusses how tariffs are affecting shipping and maritime industries and whether it will show up in the economic and consumer data and unilateral tariffs go into place. President Trump has threatened to impose higher duties on dozens of economies, but has only reached a trade framework with the UK and a tariff truce with China, which was recently threatened.
Bloomberg
an hour ago
- Bloomberg
South Africa to Give Transnet More Guarantees to Settle Debt
South Africa's government said it will give Transnet SOC Ltd. additional guarantees so the troubled state ports and freight railway operator can settle all its debt that falls due and execute its capital-investment program. Transport Minister Barbara Creecy announced the approval of a 51 billion rand ($2.9 billion) guarantee facility for Transnet last month and the process of giving it additional support will be finalized by July 25, according to the Department of Transport. The company's five-year corporate plan shows it needs to repay 99.6 billion rand.
