AI hunger games, China's social experiment and ANT's return: Louis-Vincent Gave unpacks global order
Gavekal's Louis-Vincent Gave discusses issues ranging from China's stimulus push, U.S.-China policy divergence, the de-dollarization shift, and why China's AI race could crush margins — plus, why he believes Washington needs a deal more than Beijing.
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Associated Press
10 minutes ago
- Associated Press
Canadian companies leaving productivity gains on the table by not effectively adopting new technology
Recent productivity gains only 'scratching the surface' of what new technology can deliver TORONTO, June 6, 2025 /CNW/ - While Canadian companies have been making technology investments to improve productivity, insufficient investments in their people have limited effectiveness and held back productivity gains, finds new KPMG in Canada research. KPMG recently surveyed 250 business leaders across Canada to understand what actions they were taking to improve their operations in response to the trade war with the U.S. The results found that most had stepped up investments in technology to make their organizations more efficient and productive – and are seeing positive returns – but nearly two-thirds (63 per cent) say their employees aren't using new technologies effectively – holding back full returns on their tech spend. 'Investing in new technology tools and platforms can do wonders for an organization's productivity by streamlining processes, workflows and tasks,' says Stavros Demetriou, Partner and National Leader of KPMG in Canada's People and Change practice. 'The latest Stats Can data shows Canada has made productivity gains in each of the last two quarters, but this increase still trails improvements in the U.S. over the same period. 'Unless Canadian organizations undertake effective employee education and adoption plans, their people will barely scratch the surface on what the technology can do to make them more productive, and our gap to the U.S. and others will continue to widen.' Although nearly all (89 per cent) respondents say they're investing in upskilling employees, over half (53 per cent) say their company doesn't invest enough in employee training, workshops or continuous learning opportunities, and nearly six in 10 (56 per cent) say their organization lacks the internal resources and talent needed to implement and use technology effectively. Survey highlights Mr. Demetriou notes that while three-quarters (74 per cent) of respondents believe AI will solve their productivity problem, the same proportion (74 per cent) admit they have underestimated the challenges of implementing new technologies such as AI. 'An underappreciation of the impact of things like changing processes and working habits could explain why employees are not fully equipped to harness new technologies to their fullest potential,' he says. 'There's a common belief that digitally transforming your company is primarily a technology upgrade exercise, but the reality is that technology implementation is just one part of a journey – digital transformation is just as much about advancing and elevating the workforce. It's a continuous, iterative process that, if done correctly, leads to higher productivity and innovation, and the ability to navigate the future more confidently,' he adds. Ineffective training Megan Jones, National HR and Workforce Transformation Lead at KPMG in Canada, notes that nearly nine in 10 respondents say they need better processes in place to encourage their workers to use technologies, including case studies and incentives. 'Often, when organizations implement new tools and technologies, they don't completely understand or appreciate the full capabilities of these investments. As a result, employees are simply not adequately prepared to maximize the benefits these can bring to their jobs or customers. In some cases, organizations provide full training, but it's too technical or poorly delivered. Effective training and upskilling need to be targeted, relevant, engaging, and frequent. Much like exercising consistently to build muscle, technology training must happen regularly to make the workforce stronger and more agile,' she says. Ms. Jones notes that almost nine in 10 (87 per cent) respondents acknowledged their company could do a better job of creating a culture that encourages employees to share ideas and take risks, fostering innovation and creativity. She recommends organizations provide incentives for employees to experiment with technology and explore new use cases for it. 'Regular workshops or dedicated 'days' where employees are encouraged to play around with AI and develop new solutions can go a long way in sparking innovation. Also, showcasing wins by employees in one area of the business could help spark new ideas in other parts of the organization,' she says. The digital divide Most respondents (86 per cent) hope that a more digitally-savvy younger generation will help their company become more productive through the easier adoption of new technologies such as AI, Web3, data and analytics, quantum and edge computing. Lewis Curley, a Partner in KPMG in Canada's People and Change practice, says differences in workforce composition, skills and attitudes can create additional considerations for an organization's technology program, but organizations that engage all employees early in the journey as well as training and upskilling will have more success in leveraging new technologies such as AI and increasing overall productivity. 'If an organization is looking to implement AI, they must engage the entire workforce right from the beginning. If some employees don't feel like they are part of the journey, they might disengage from the process, lose trust in AI, or worry that the technology will replace them, which could deter them from using it,' he says. 'Everyone has a role in a company's digital transformation, and every single employee – from the CEO to the most recent hire – plays a part in making their organization more productive, so transparency, communication and engagement are crucial.' About the KPMG in Canada Productivity Survey KPMG in Canada surveyed 250 business leaders in all industry sectors across Canada between May 9 and May 20, 2025, on Sago's premier business panel, using Methodify's online research platform. Thirty-one per cent lead companies with annual gross revenue between $500 million and $1 billion, 25 per cent report revenue between $100 million and $300 million, 22 per cent have revenue between $300 million and $500 million, 12 per cent between $10 million and $100 million, and 10 per cent, over $1 billion. No companies under $10 million in annual revenue were surveyed. Over half (52 per cent) of the companies are privately held, 28 per cent are owned by private equity firms, 18 per cent are publicly traded with headquarters in Canada, and 2 per cent are foreign-owned subsidiaries. About KPMG in Canada KPMG LLP, a limited liability partnership, is a full-service Audit, Tax and Advisory firm owned and operated by Canadians. For over 150 years, our professionals have provided consulting, accounting, auditing, and tax services to Canadians, inspiring confidence, empowering change, and driving innovation. Guided by our core values of Integrity, Excellence, Courage, Together, For Better, KPMG employs more than 10,000 people in over 40 locations across Canada, serving private- and public-sector clients. KPMG is consistently ranked one of Canada's top employers and one of the best places to work in the country. The firm is established under the laws of Ontario and is a member of KPMG's global organization of independent member firms affiliated with KPMG International, a private English company limited by guarantee. Each KPMG firm is a legally distinct and separate entity and describes itself as such. For more information, see For media inquiries: Alannah Page National Communications and Media Relations KPMG in Canada 306-934-6255 [email protected] Roula Meditskos National Communications and Media Relations KPMG in Canada 416-549-7982 [email protected] SOURCE KPMG LLP
Yahoo
16 minutes ago
- Yahoo
Why CoreWeave, Inc. (CRWV) Skyrocketed Today
We recently published a list of . In this article, we are going to take a look at where CoreWeave, Inc. (NASDAQ:CRWV) stands against other Wednesday's best-performing stocks. CoreWeave rallied for a fourth consecutive day on Wednesday, jumping 8.39 percent to close at $163.10 apiece following the unveiling of record-breaking performance results using Nvidia Corp.'s latest Grace Blackwell chips. In a statement, CoreWeave, Inc. (NASDAQ:CRWV) said that it used 2,496 Nvidia GPUs on its AI-optimized cloud platform, making its submission the largest-ever benchmarked under MLPerf. A close-up of a digital cloud, signifying the expansive reach of the software-as-a-service solution. CoreWeave, Inc. (NASDAQ:CRWV) said that the test was 34x larger than the only other submission from a cloud provider. 'AI labs and enterprises choose CoreWeave because we deliver a purpose-built cloud platform with the scale, performance, and reliability that their workloads demand,' said CoreWeave, Inc. (NASDAQ:CRWV) Chief Technology Officer Peter Salanki. 'These MLPerf results reinforce our leadership in supporting today's most demanding AI workloads,' he added. The unveiling followed the company's new $7-billion deal with Applied Digital Corporation (NASDAQ:APLD), which covered two 15-year lease agreements, under which the latter will deliver 250 megawatts of critical IT load to host its artificial intelligence (AI) and high-performance computing (HPC) infrastructure at its Ellendale, North Dakota data center campus. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
AI risks 'broken' career ladder for college graduates, some experts say
Artificial intelligence could upend entry-level work as recent college graduates enter the job market, eliminating many positions at the bottom of the white-collar career ladder or at least reshaping them, some experts told ABC News. Such forecasts follow yearslong advances in AI-fueled chatbots, and declarations from some company executives about the onset of AI automation. Dario Amodei, CEO of Anthropic, which created an AI model called Claude, told Axios last week that technology could cut U.S. entry-level jobs by half within five years. MORE: 'Danger zone': Top companies weather uncertainty as Trump's tariffs fluctuate When Business Insider laid off 21% of its staff last week, CEO Barbara Ping said the company would go "all in on AI" in an effort to "scale and operate more efficiently." Analysts who spoke to ABC News said AI could replace or reorient entry-level jobs in some white-collar fields targeted by college graduates, such as computer programming and law. Current job woes for this cohort, they added, likely owe in part to economic conditions beyond technology. Many blue-collar and other hands-on jobs will remain largely untouched by AI, they said, noting that tech-savvy young workers may be best positioned to fill new jobs that do incorporate AI. "We're in the flux of dramatic change," said Lynn Wu, a professor of operations, information and decisions at the University of Pennsylvania. "I sympathize with college graduates. In the short run, they may stay with mom and dad for a while. But in the long run, they'll be fine. They're AI natives." Over the early months of 2025, the job market for recent college graduates "deteriorated noticeably," the New York Federal Reserve said in April. It did not provide a reason for the trend. The unemployment rate for recent college graduates reached 5.8%, its highest level since 2021, while the underemployment rate soared above 40%, the New York Fed said. Youth unemployment likely stems from trends in the broader economy rather than AI, Anu Madgavkar, the head of labor market research at the McKinsey Global Institute, told ABC News The softening job market coincides with business uncertainty and gloomy economic forecasts elicited by President Donald Trump's tariff policy. "It's not surprising we're seeing this unemployment for young people," Madgavkar said. "There is a lot of economic uncertainty." Still, entry-level tasks in white collar professions stand at serious risk from AI, analysts said, pointing to the technology's capacity to perform written and computational tasks as opposed to manual work. AI could replace work previously performed by low-level employees, such as legal assistants compiling relevant precedent for a case or computer programmers writing a basic set of code, Madgavkar said. "Is the bleeding edge or the first type of work to be hit a little more skewed toward entry-level, more basic work getting automated right now? That's probably true," Madgavkar said. "You could have fewer people getting a foothold." Speaking bluntly, Wu said: "The biggest problem is that the career ladder is being broken." For the most part, however, Madgavkar said entry-level positions would change rather than disappear. Managers will prize problem-solving and analysis over tasks dependent on sheer effort, she added, noting the required set of skills will likely include a capacity to use AI. "I don't think it means we'll have no demand for entry-level workers or massively less demand," Madgavakar said. "I just think expectations for young people to use these tools will accelerate very quickly." Some jobs and tasks remain largely immune to AI automation, analysts said, pointing to hands-on work such as manual labor and trades, as well as professional roles like doctors and upper management. MORE: Trump's hike of steel and aluminum tariffs could raise these prices Isabella Loaiza, a researcher at the Massachusetts Institute of Technology who studies AI and the workforce, co-authored a study examining the shift in jobs and tasks across the U.S. economy between 2016 and 2024. Rather than dispense with qualities like critical thinking and empathy, workplace technology heightened the need for workers who exhibit those attributes, Loaiza said, citing demand for occupations like early-education teachers, home health aides and therapists. "It is true we're seeing AI having an impact on white-collar work instead of more blue-collar work," Loaiza said. But, she added, "We found that jobs that are very human-intensive are probably more robust." AI risks 'broken' career ladder for college graduates, some experts say originally appeared on
