Latest news with #knowledgeeconomy
Yahoo
6 days ago
- Business
- Yahoo
Former Google exec says AI's going to lead to a 'short-term dystopia' because the idea it will create new jobs for the ones it's replacing is '100% crap'
When you buy through links on our articles, Future and its syndication partners may earn a commission. Something funny happened as I was watching Google X's former chief business officer Mo Gawdat, on the Google-owned platform YouTube, outline his exact take on the AI dystopia he thinks is coming. The host began to ask Gawdat about the idea AI will create new jobs, then the video halted while Google ads served me a 15-second clip showing someone using Microsoft CoPilot to do their job. When Gawdat returns, he begins his answer by talking about the idea of the West transitioning into service or knowledge economies: people, as he puts it, who "type on a keyboard and use a mouse." Oh dear. Gawdat's economics lesson concludes that "all we produce in the West is words [...] and designs. All of these things can be produced by AI." One thing is impossible to deny: the business world is very interested in the idea of replacing humans with AI and, where it can be done, will not hesitate to do so. There's also the fact that every big tech company is pushing AI into their products and our lives. The AI industry has something of a stock line about its technology replacing existing careers: AI will simultaneously create new jobs we can't even imagine, and people will start working in those fields. But Gawdat doesn't buy that line, and in straightforward language calls the whole idea "100% crap" (thanks, Windows Central). Gawdat left Google to form an AI startup, and cites this company as an example of what he's talking about: the app was apparently built with only two other developers, a job that Gawdat reckons would have taken "over 350 developers" without AI assistance. "Artificial general intelligence is going to be better than humans at everything, including being a CEO," says Gawdat, referring to the idea that the industry will eventually produce an AI model capable of reasoning and more intelligent than humans. "There will be a time where most incompetent CEOs will be replaced.' Gawdat's spin on this, however, is that society has to undergo a paradigm shift in how we think about our lives: "We were never made to wake up every morning and just occupy 20 hours of our day with work. We're not made for that. We defined our purpose as work. That's a capitalist lie." Tell me more, comrade! Gawdat generally seems to hold a rather low view of executives and their priorities, pointing out that the AI future is subject to human "hunger for power, greed, and ego' because the tools themselves will be controlled by "stupid leaders." I'm not sure I'd characterise Elon Musk as stupid, but I doubt I'm alone in thinking I'd rather not have him in charge of re-arranging society. "There is no doubt that lots of jobs will be lost," says Gawdat. "Are we prepared to tell our governments, this is an ideological shift similar to socialism, similar to Communism, and are we ready from a budget point of view? Instead of spending a trillion dollars a year on arms and explosives and autonomous weapons to suppress people because we can't feed them." Gawdat runs through some beermat maths, offering an estimate that $2.4-2.7 dollars is spent on military hardware every year, a fraction of which could solve a problem like world hunger, or lift the global population out of extreme poverty. Then we get into the truly starry-eyed stuff like universal healthcare worldwide and the end of war, with Gawdat saying for AI these things would be "simple decisions." Hmm. I'll have some of what he's smoking. Gawdat's take on AI starts out more persuasive than many others I've seen, but when it gets onto the more fantastical ramifications the caveat is simply enormous. If the singularity happens and AI just takes over running the planet then, sure, all bets are off: who knows whether we'll end up with dystopia or utopia. But that day may never come and, until then, there will still be human beings somewhere pulling all the levers. And as history shows, time and again, humans can be horrendous at making simple decisions: and that's rarely good for the rest of us. Solve the daily Crossword
CBS News
07-08-2025
- Business
- CBS News
Re-Coding the Future
This content was provided by Acumen Media for Ascendion. This advertiser content was paid for and created by Acumen. Neither CBS News nor CBS News Brand Studio, the brand marketing arm of CBS News, were involved in the creation of this content. Throughout history, new forms of energy have shifted the gears of human progress, profoundly changing how people live and work. Ancient societies started with muscle, moved to animals, then harnessed water, steam and eventually, electricity. Today, AI is emerging as our next energy source, like fire, electricity or steam in past revolutions, to power productivity in the knowledge economy. Horses, steam engines and power plants all still matter of course, but the world is increasingly running on code and software. What some are calling Economy 4.0 is the AI-powered transformation of the knowledge economy, with software reordering how value is created, delivered and scaled. AI is the new power for business, but software is the power grid. It's the axle around which our knowledge economy is starting to turn. Software now shapes how we communicate, manage money, access healthcare, shop, learn, and nearly every other aspect of our modern lives. "Software is one of the key elements of making WellSky successful," said Joel Dolisy, Chief Technology Officer. "There is a lot of people interaction that is all enabled through software. [It] is a big, big important part of how we make that happen." And yet, much of the code that shapes the economy is old enough to collect social security. Nearly $3 trillion worth of global business operations still run on COBOL daily. Despite the increasing criticality of code, the world is still reliant on software that may have been developed by our grandparents. The impact: a chilling effect on disruptive innovation. Vimala Suresh, Vice President, CareSource, said, "If that file doesn't get processed in time, the member can't get the surgery they're eligible for. This could be life-threatening. That's how important software is in healthcare." Software development methods, processes, tools and mindsets from the past are crumbling under the pressure of AI-powered systems and potential. This presents leaders with a once-in-a-career opportunity. That's where Ascendion comes in. The company says it's unleashing intelligent agents that enhance humans as it builds software faster and better. Now, engineers using AAVA, a platform of agents aligned to software development and management, are using AI to deliver better code at half the cost and twice the speed. To unlock the potential value, leaders, Ascendion says IT teams, operations, line-of-business, procurement, finance and the C-suite must lean into new ways of designing, building and managing software. This isn't theory or buzzwords. It's happening now using what Ascendion calls Engineering to the Power of AI (EngineeringAI). This means companies can do more with less, allowing more time for talented humans to create, innovate, imagine and lead. David Park, President, Commercial Bank, Axos Bank, said, "With the speed of development and the reduction of cost through AI, we are able to personalize the banking experience. Hyper-personalization is what's most exciting about financial services and the software evolution we are going through." Marc Andreessen was right when he said, "Software is eating the world." Now, thanks to AI, software engineering is the first course. The data is adding up. Gartner predicts AI software will reach $297 billion by 2027. Researchers are uncovering a double-digit decrease in jobs related to writing and coding. A growing number of early adopter CIOs are already reporting that AI can yield efficiency gains of 20% to 40%. Innovation, growth, savings and transparency aren't new, but this is: AI is moving from the computer science lab to every business. The new power revolution from AI is already starting. The first major disruption where real value is being delivered today comes from how software is being built. AI is changing not just what is built, but how it's built. Every new power revolution—fire, water wheels, steam, electricity and now AI—comes with risks, disruptions and unintended consequences. AI's impact on software engineering will be profound, and it needs to be managed so we advance safely and civilly. In the coming years and decades, AI agents will disrupt countless business processes, consumer experiences and jobs. But today, software engineering is being re-coded by the bot. Business leaders, policy makers and employees can embrace the potential for AI and tame new machines so that value generation tips the scales away from risk, fear and failed projects.
The National
04-07-2025
- Business
- The National
How growing cities like Abu Dhabi and Dubai can continue to be affordable for all
New population figures for Abu Dhabi released this week present an intriguing picture of an emirate undergoing a sustained period of growth. Data from Statistics Centre Abu Dhabi showed the emirate's population had passed four million for the first time, which represented a 7.5 per cent increase in population and a 9 per cent increase in the workforce in the past year. SCAD noted that the emirate's population has grown by more than 50 per cent over the past 10 years. Some of this should come as no surprise. The annual Arab Youth Survey traditionally ranks the UAE as the place in the world where young people want to live because of the opportunities it offers and the stability of the country. And it is not just young people who recognise this country's enviable track record for growth, safety and development. People from all over the world and from all strata of the economy want to live and work in the UAE and see their long-term futures here. Dubai's population is expected to reach four million this year, too. Together, Abu Dhabi and Dubai are now two of the world's best cities: magnets for talent, beacons of the knowledge economy, safe places to live with world-class facilities and enviable portfolios of tourism and leisure destinations. The discussion points around population growth are well-rehearsed. Rapid growth sets the conditions for innovation and dynamism and can spur economic expansion – to that point, gross domestic product grew in the UAE by about 4 per cent last year – but fast-paced expansion can also deliver strains on the system in such areas as housing stock and traffic. A roads survey published this week said that most of those surveyed believe traffic is getting heavier and that congestion is more commonplace. Suggested solutions from the survey include improvements to the bus and road network, expanding metro services and offering more opportunities to work from home. The question of housing is a near perennial one. A generation ago, Abu Dhabi's housing market was simmering. Too little supply and rapid population growth made it challenging for those who needed to move or had just arrived in the city. A series of measures to ease pressure cooled the market over a prolonged period. Nowadays, the market has found its natural levels and there is more supply, but there will always be hotspots, some of which can emerge suddenly. The Disney effect, for instance, was visible on Yas Island almost as soon as the announcement of the theme park's arrival was made earlier this year, even though neither a construction schedule nor a tentative opening date has been confirmed. But rapid population growth does underscore the need for both Abu Dhabi and Dubai to keep thinking about and developing a range of affordable housing solutions to meet demand. Abu Dhabi launched a Value Housing Programme in March to deliver what was described as 'high-quality units'. Dubai introduced a support scheme for first-time buyers this week in the emirate's property market. Dubai also approved a plan for more than 17,000 affordable houses in the spring. The ideal mix is for housing to be available across a wide spectrum of needs. If there is too much luxury housing, the market won't meet the needs of those with more modest budgets, even though it is common for developers to want to bring high-end properties to the market to stir up a form of mass aspiration and generate bigger profits. Housing stock imbalance also creates cycles of under and over-supply. If there is too much concentration on one sector or another, an inevitable imbalance ensues, and workers or families will eventually decide that their future lies elsewhere. The system relies on several forms of equilibrium being in play. Dubai Municipality's recent moves to tackle illegally partitioned residential units are an important safety measure aimed at clamping down on landlords making this type of conversion into multiple occupancy units. These actions also shed light on the natural human instinct to want to live close to work or where you send your children to school, or to find a place to live where you can make your budget fit. Further, they indicate a need to keep regulatory enforcement in place and for even more affordable stock to be made available that meets both the municipality's legal framework and remains within reach of many, both financially and geographically. An equitable property market is a solid building block for growth and happiness in the broader economy. This is not an issue exclusive to one city or one place in the world. Older neighbourhoods in Abu Dhabi have dwellings that have been subdivided after they were previously single-family units. It is the responsibility of the building's owners to stay within the limits of the law with conversions and to ensure their tenants are able to live safely. But the fact that there are such buildings at all is, once again, a symbol of population growth and dynamic market forces. The question then shifts to how do you mitigate these circumstances and what your longer-term response might be. Cities globally have faced that challenge for centuries. The answer to that challenge may rest in one of the magnets that secures such strong population growth figures in both Dubai and Abu Dhabi in the first place. Namely, the forward-looking nature of urban and economic policy formulation. There may also be a direct comparison to traffic congestion, one of the other harbingers of rapid population growth. An array of policy prescriptions are inevitably required to find the right solution and keep people moving forwards.
Zawya
30-06-2025
- Business
- Zawya
Al Nuaimi: Vision 2031 charts UAE's sustainable future
DUBAI: Dr. Abdullah Belhaif Al Nuaimi, Chairman of the Sharjah Consultative Council (SCC), delivered a keynote speech during the WeTel Global Economy Forum, held yesterday in Dubai under the theme 'The Bridge to UAE Vision 2031.' The forum brought together policymakers, experts, and thinkers to explore the UAE's economic and knowledge-driven future. Dr. Al Nuaimi emphasised that UAE Vision 2031 is no longer a mere aspiration, but a living framework fuelled by national determination across all state institutions. He described it as a national pathway built on innovation, diversity, sustainability, and institutional integration. The first pillar of the vision, Al Nuaimi explained, focuses on redefining prosperity by transitioning from hydrocarbon dependence to a knowledge economy. This includes green tech, AI, and advanced industries, targeting a GDP of AED 3 trillion and AED 800 billion in non-oil exports by 2031. He underscored the importance of investing in innovation hubs and activating cross-sector partnerships for a post-oil economy. In the second pillar, Al Nuaimi addressed sustainable urban development through smart, resilient cities that rely on clean energy, mobility innovations, and environmental harmony—aligned with the 2050 Net Zero strategy. He also highlighted the need to incorporate ESG and digital readiness standards in real estate, infrastructure, and logistics. The third pillar centred on empowering human capital. Al Nuaimi described skilled talent as the nation's true wealth. He stressed lifelong learning and global openness to ensure the UAE ranks among the top 10 globally in human development and digital talent retention. He called for comprehensive upskilling, national talent support, and future leadership development. The fourth pillar focused on innovation and global competitiveness. Al Nuaimi noted the UAE's rapid strides towards becoming a global platform for regulatory and technological innovation, particularly in AI and biotechnology. He advocated for stronger partnerships between universities and the public-private sectors to co-create intellectual capital that drives regional knowledge transformation. The fifth pillar concerned environmental sustainability and food security. Al Nuaimi stated that the UAE views sustainability as a competitive advantage, not a developmental burden. He reaffirmed national goals to rank among the top 10 globally in food security, water efficiency, and climate adaptation. He urged the adoption of circular economy models, climate-smart agriculture, and resource reuse. Concluding his speech, Dr Al Nuaimi described Vision 2031 as a comprehensive national project that requires collective institutional and individual effort. He said the bridge to this future begins today—with investment in people, unified vision, and a resilient, sustainable, and innovative economy worthy of the UAE's regional and global standing.
Mail & Guardian
20-06-2025
- Politics
- Mail & Guardian
Advance academic excellence through transformation and internationalisation at SA universities
The brain circulation among academics is an international phenomenon that must be celebrated instead of being despised. In recent public discourse, questions have been raised about South African universities prioritising hiring foreign academics over local talent. These claims, though understandable in the broader context of our country's unemployment problem, require deeper interrogation and a nuanced understanding of the higher education landscape, history and its purpose. The little-understood or even misunderstood concept of internationalisation of higher education in South Africa also needs to be clarified. As context for our higher education system, South Africa is an open economy and an integral part of the global academic community. As the world becomes increasingly interconnected, our universities must remain at the cutting-edge of international developments to maintain their relevance in society, and to foster their excellence, globally, and general sustainability. In today's knowledge-driven economy, learning is no longer bound by geographical borders. Institutions of higher learning must therefore actively work with global scholarly pursuits to ensure South Africa remains locally relevant while retaining competitiveness in global research, innovation and intellectual contributions. Data from the Higher Education Management Information System shows that foreign nationals constitute just over 12% of academic staff at South Africa's 26 public universities, with higher concentrations in science, engineering and health faculties. Data on international mobility of European researchers in higher education in 2019 shows a decrease in the share of internationally mobile researchers from 2012 to 2019. For those mobile for three or more months, the share fell from 31% in 2012 to 27% in 2019. For short-term mobility, the decrease has been more dramatic, from 41% to 32% in the same period. Excellence in academia transcends national boundaries. Talented people from all backgrounds drive innovative research, scientific progress and interdisciplinary knowledge. This global collaboration is at the heart of what is known as the internationalisation of higher education — an intentional effort to integrate global perspectives into higher education. Such efforts aim to enhance the quality, goals, and delivery of higher education and research. Neglecting this international dimension risks stagnation and missed opportunities for growth. Cross-border partnerships offer access to cutting-edge expertise, diverse viewpoints, and varied learning methods, fostering the cross-pollination of ideas essential for advancing knowledge. South Africa has long embraced internationalisation as a mechanism to enrich its academic content and environment. Our institutions benefit from global networks that facilitate funding opportunities, research partnerships which seek to advance new knowledge and innovations, and scholarly exchange programmes — all critical components of a thriving higher education ecosystem. These international connections are not a luxury but a necessity in ensuring that South African universities maintain their standing in global competitiveness and intellectual discourse. The modern academic landscape is shaped by the seamless exchange of ideas, facilitated by technology and international collaborations. No country can develop its knowledge economy in isolation, and South Africa is no exception. Higher education must occur within an environment where leading experts share discoveries and emerging trends without geographical constraints. Transformation an imperative Several factors contribute to the current staffing situation within our institutions. First, under apartheid, the majority of South Africans were systematically excluded from pursuing qualifications and careers in fields such as science, engineering and medicine. The legacy of these discriminatory policies persists today, making it necessary for universities to rely on foreign nationals to fill critical academic roles. As a result, the importation of advanced skills remains an ongoing reality for South African higher education, notwithstanding the need for internationalisation to enhance quality higher education and development of local skills. Second, academic careers have not always appealed to local professionals, particularly when the private sector offers significantly higher salaries for roles requiring fewer qualifications. Additionally, the widespread use of temporary contracts — accounting for about half of universities' staff — creates uncertainty that discourages those seeking long-term job security for themselves and their families. These conditions have contributed to the fact that only just over half of academics at South African universities hold PhD qualifications, which is a necessity for development of new knowledge, growth of higher education and also still falling short of the National Development Plan's goal of 75% by 2030. The historical exclusion of the majority population led to legislation promoting employment equity and workplace transformation to which our universities remain compliant. While universities strive to attract and retain local academics in pursuit of diversity, equity, and excellence, the scarcity of qualified local candidates often makes international recruitment a necessary strategy. Benefits of internationalisation Internationalisation and the development of local academic talent are not opposing goals. Rather, they are mutually reinforcing: each enhances the other's value and effectiveness. Prioritising opportunities for local scholars should go hand in hand with recognising that their growth is strengthened through international expertise. The presence of foreign academics in our institutions fosters mentorship, collaborative research and skills exchange, ultimately benefiting both local scholars and students. The cross-pollination of ideas and methodologies enriches academic discourse and drives innovation that serves both South Africa and the global community. Moreover, internationalisation does not equate to sidelining South African academics. On the contrary, many of our brightest minds have flourished through international exposure, and our universities remain committed to nurturing local talent through initiatives such as grants, postdoctoral fellowships, and programmes like the New Generation of Academics Programme, Nurturing Emerging Scholars Programme, and Future Professors Programme. These initiatives specifically support historically under-represented groups. Furthermore, many South African scholars have gone on to contribute meaningfully to global scholarship. Thus, the current public discourse, which seeks to dismiss the importance of links to international academic risks leading the nation down a harmful path. We cannot forget the damaging effects of apartheid-era academic isolation. As we continue to rebuild from that legacy, we must resist being misled by those who, under the guise of protecting national interests, advocate for a narrow and inward-looking approach. Our goal should not be exclusion but integration — creating dynamic universities where diverse, talented minds converge to shape a better future. A collaborative future Instead of viewing internationalisation as a threat to local employment, we should see it as an opportunity for shared progress. South African universities must continue to cultivate local academic talent while embracing global perspectives that drive innovation, research, and thought leadership. The focus should be on merit, strategic value, and academia's role in tackling societal challenges. As South Africa competes in a global knowledge economy, our institutions must stay internationally connected to ensure students and scholars benefit from the best expertise, regardless of national origin. Integrating international knowledge is not a dismissal of local talent but a strategic move to enhance our intellectual capacity. We must remember that true academic progress does not thrive on exclusion; it flourishes through diversity, shared inquiry and an unwavering commitment to excellence. By welcoming global perspectives while fostering homegrown talent, South African higher education will continue to drive effective solutions, groundbreaking discoveries, and transformative leadership that benefit not only our nation but the world. The question is not whether we should work internationally; it is how boldly we will position ourselves as a knowledge powerhouse in the years to come, drawing on both local and international talent. South Africa's universities have a choice: to insulate themselves or to lead. The path forward is clear — leadership through knowledge, collaboration and a global vision. Dr Phethiwe Matutu is the chief executive of Universities South Africa.
