AI will boost recruitment of developers, not replace them: GitHub CEO
According to Dohmke, AI acts as a force multiplier for engineering talent, enhancing individual output rather than replacing workers. He sees recent layoffs and hiring slowdowns across the tech industry as a short-term correction while companies assess how to fully integrate AI into their operations.
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Amazon Q2 profit jumps 35% to $18.2 billion, driven by AI and AWS growth
Amazon reported a 35 percent jump in quarterly profits Thursday as the e-commerce giant said major investments in artificial intelligence began paying off. The Seattle-based company posted net profit of $18.2 billion for the second quarter that ended June 30, compared with $13.5 billion in the same period last year. Net sales climbed 13 percent to $167.7 billion, beating analyst expectations and signaling that the global company was surviving the impacts of the high-tariff trade policy under US President Donald Trump. "Our conviction that AI will change every customer experience is starting to play out," said Chief Executive Andy Jassy, pointing to the company's expanded Alexa service and new AI shopping agents. Amazon Web Services (AWS), the company's world leading cloud computing division, led the charge with sales jumping 17.5 percent to $30.9 billion. The unit's operating profit rose to $10.2 billion from $9.3 billion a year earlier. The strong AWS performance reflects surging demand for cloud infrastructure to power AI applications, a trend that has benefited major cloud providers as companies race to adopt generative AI technologies. Despite the stellar results, investors seemed worried about Amazon's big cash outlays to pursue its AI ambitions, sending its share price more than three percent lower in after-hours trading. The company's free cash flow declined sharply to $18.2 billion for the trailing 12 months, down from $53 billion in the same period last year, as Amazon ramped up capital spending on AI infrastructure and logistics. The company spent $32.2 billion on property and equipment in the quarter, nearly double the $17.6 billion spent a year earlier, reflecting massive investments in data centers and backroom capabilities. Amazon has pledged to spend up to $100 billion this year, largely on AI-related investments for AWS. For the current quarter, Amazon forecast net sales between $174.0 billion and $179.5 billion, representing solid growth of 10-13 percent compared with the third quarter of 2024. Operating profit was expected to range from $15.5 billion to $20.5 billion in the current third quarter, which was lower than some had hoped for and likely also a factor in investor disappointment.
Deccan Herald
2 hours ago
- Deccan Herald
Virtual labs with AI scientists show promise: Stanford study
Virtual scientists in a virtual lab at Stanford University are coming up with unorthodox ways to address clinical challenges, researchers reported on Tuesday in Nature. The virtual lab is modeled after a well-established Stanford School of Medicine research group, complete with a principal investigator and seasoned scientists, the report says. As in human-run research labs, the virtual lab has regular meetings during which agents generate ideas and engage in a conversational back-and-forth. They also have one-on-one meetings, allowing the virtual lab members to meet with the virtual principal investigator individually to discuss ideas. Unlike human meetings, the virtual gatherings take a few seconds or minutes. When humans tasked the virtual team with devising a better vaccine for the SARS-CoV-2 virus that causes COVID-19, they equipped the virtual scientists with tools and software to stimulate creative 'thinking' skills. The virtual scientists even created their own wish list. 'They would ask for access to certain tools, and we'd build it into the model to let them use it,' study leader James Zou said in a statement. Instead of opting for the usual vaccine design using an antibody, the AI team came up with using a nanobody, an antibody fragment that's smaller and simpler. 'From the beginning of their meetings, the AI scientists decided that nanobodies would be a more promising strategy,' Zou said. 'They said nanobodies are typically much smaller than antibodies, so that makes the machine learning scientist's job much easier," Zou said, "because when you computationally model proteins, working with smaller molecules means you can have more confidence in modeling and designing them.' When humans created the AI researchers' nanobody in a real-world lab, they found it was stable and could attach itself to one of the COVID virus variants more tightly than existing antibodies - a key factor in determining vaccine effectiveness. Aside from the initial prompt, the main guideline consistently given to the AI lab members was budget-related. Zou estimates that he or his lab members intervene about 1% of the time. 'I don't want to tell the AI scientists exactly how they should do their work. That really limits their creativity,' Zou said. 'I want them to come up with new solutions and ideas that are beyond what I would think about.'
Economic Times
3 hours ago
- Economic Times
US job crisis deepens: 806,000 layoffs so far in 2025, worst since COVID crash - Is your company next on the chopping block?
Why are job cuts spiking across industries? Live Events Which sectors have been hit hardest by layoffs? FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel There will be big changes in the American job market this year. There have been more mass layoffs in all industries, and in 2025 alone, more than 800,000 people lost their jobs. This is the worst start to a year for jobs since the economy fell apart because of industry seems to be safe, from tech to retail. Technology, retail, and government sectors lead the pack, with AI and federal budget cuts driving much of the firm Challenger, Gray, and Christmas reported Thursday that U.S.-based employers announced 62,075 job cuts in July, up 29% from June and 140% from 25,885 in July have announced 806,383 layoffs so far this year, the most since 2020, when COVID caused economic disruption. Compared to 460.5K job cuts in the first seven months of 2024, the year-to-date total is up 76%.Compared to the average of 23,584 job cuts since the pandemic, the July cuts are significantly to Andrew Challenger, senior vice president of Challenger, Gray & Christmas, "weare seeing the federal budget cuts implemented by DOGE impact non-profits and healthcare in addition to the government." "AI was cited for over 10,000 cuts last month, and tariff concerns have impacted nearly 6,000 jobs this year," as per a report by Seeking terms of hiring, American companies anticipate adding 86,132 positions through July 2025, compared to 73,596 during the same time last year. With 28,190 new positions announced, nearly a third of the hiring plans were in the entertainment and leisure terms of industry-specific job cuts, government organizations accounted for 3,666 layoffs in July, compared to 3,801 in of all sectors, job cuts totalled 292,294 so far this year. With 89,251 layoffs so far in 2025, a 36% increase from the same period in 2024, technology is the sector most responsible for the private sector's job to the same period last year, retail announced 80,487 job cuts through July, a 249% increase. Compared to the same period last year, nonprofits announced 17,826 job cuts in the first seven months of this year, a five-fold job crisis in the United States is getting worse. In 2025, there were more than 806,000 layoffs, the most in a single year since the COVID pandemic. In July, there were 29% more job cuts than in June. The technology, retail, and government sectors are the most affected, with AI and cuts to the federal budget being two of the main year, the technology, retail, government, and non-profit sectors have seen the most the last month alone, AI-driven changes have resulted in the loss of over 10,000 jobs.
