Tag Archives: workforce

Amazon Confirms Workforce Reduction Plans, Laying Off 14,000 Employees

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Amazon has announced its intention to lay off 14,000 employees as part of a broader initiative expected to impact tens of thousands of roles.

The Seattle-based retail leader is facing challenges in reversing the extensive hiring surge prompted by the pandemic, working on cost reduction and streamlining its vast operations. This summer, the company’s CEO cautioned white-collar employees about the potential for artificial intelligence to take over their jobs.

Beth Galetti, Amazon’s senior vice president, communicated in a memo to employees on Tuesday: “The reductions we are announcing today…are part of our ongoing efforts to further diminish bureaucracy, eliminate layers, and reallocate resources to prioritize investments in our key initiatives and better meet our customers’ current and future needs.”

On Monday, Reuters and The Wall Street Journal reported that Amazon is poised to eliminate up to 30,000 corporate positions, according to anonymous sources familiar with the situation, as it attempts to unwind an unprecedented hiring spree triggered by a temporary surge in online shopping during the height of the COVID-19 pandemic. CNBC indicates this could mark the largest layoff event in the company’s history.

These layoffs constitute a minor fraction of Amazon’s total 1.55 million global employees, but they significantly impact the company’s roughly 350,000 corporate workforce.

On Monday, Amazon refrained from commenting on the extensive layoffs until Galetti revealed the 14,000 job cuts the following day. He also informed employees that the company will strive to pinpoint “further areas where we can streamline structures, enhance accountability, and achieve efficiency improvements” throughout 2026.

“Some may question why roles would be reduced if the company is performing well,” Galetti expressed. “Across our divisions, we consistently provide excellent customer experiences, innovate swiftly, and deliver outstanding business results. We must acknowledge that the world is evolving rapidly.”

“This wave of AI is the most groundbreaking technology since the Internet, allowing companies to innovate more rapidly than ever throughout existing and completely new market segments.”

Following the initial reports of layoffs, Amazon’s shares, which are set to announce quarterly results later this week, increased by 1.2% on Monday.

Other tech giants have similarly rolled back extensive hiring campaigns initiated during the pandemic. Microsoft; Meta’s parent company, which includes WhatsApp, Instagram, and Facebook; as well as Google’s parent company, Alphabet, have collectively laid off tens of thousands of workers in recent years.

Back in June, Amazon CEO Andy Jassy informed employees that generative AI technologies, such as autonomous AI agents and chatbots, would reduce staffing requirements in certain roles.

“While it’s challenging to predict the exact impact over time, we anticipate this will lead to workforce reductions in the upcoming years,” Jassy stated in a memo to staff.

In recent times, Amazon has implemented job cuts across various divisions, including devices, communications, podcasting, and more.

This week’s layoffs are projected to influence a broad spectrum of departments within Amazon, including human resources (referred to as people experience), technology, devices and services, and operations, among others. Luck reported that as much as 15% of Amazon’s human resources sector could be affected, according to sources familiar with the company’s plans.

According to Reuters, citing unnamed insiders, managers from impacted teams were informed on Monday that they would receive notifications via email starting the next morning and would be required to undergo training on how to communicate changes with their teams.

Mr. Jassy has previously stated that the company aims to minimize what he refers to as excessive bureaucracy within Amazon, including reducing managerial positions. He also introduced an anonymous complaint line for addressing inefficiencies, which has generated roughly 1,500 responses and led to over 450 process modifications.

Report contributed by Reuters

Source: www.theguardian.com

Navigating the Workforce Crisis: Key Insights for Alumni Battling AI in the Job Market

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  • 1. The current crisis has as much to do with economics as it does with AI

    According to Kirsten Barnes, head of Bright Network’s digital platform, the graduate labor market is facing challenges that are not uncommon.

    “Typically, fluctuations in the graduate job market hover around 10-15% this year, stemming from various factors such as the overall economic landscape and typical business demand changes, rather than being solely driven by AI.”

    Fewer graduates report that among companies employing alumni, “no one attributes this to AI,” said Claire Tyler, director of insights at the Institute for Student Employers (ISE), which advocates for leading graduates.

    Some recruiting professionals noted that the recent rise in employer national insurance contributions is hindering entry-level hiring.

    Ed Steer, CEO of Sphere Digital Recruitment, highlighted a drop in graduate vacancies from 400 annually in 2021 to a projected 75 this year, indicating that companies prefer candidates with more experience to “hit the ground running.”

  • 2. Nonetheless, AI is indeed a significant factor

    Auria Heanley, co-founder of Oriel Partners, reported a 30% decrease in entry-level personal assistant roles this year, stating, “It’s undeniable that AI, coupled with broader economic uncertainty, is making it increasingly challenging for graduates to secure these positions.”

    Felix Mitchell, co-CEO of Instant Impact, noted that fields related to STEM (science, technology, engineering, and mathematics) are particularly affected. “Evidence suggests while AI will create jobs, job losses will occur faster than new roles are generated.”

  • 3. The revolution is set to escalate

    Major tech companies like Microsoft are highlighting the profound impacts of AI agents—technology capable of performing complex cognitive tasks autonomously. Developer AI leader Dario Amodei has cautioned that this advancement could eliminate half of all entry-level office roles within the next five years.

    James Reid, CEO of Employment Agency Reid, remarked that AI is on the verge of reshaping the job market dramatically.

    “This seems to be a pivotal year where AI is truly transforming and becoming ingrained in workflows.”

    Sophie O’Brien, CEO of Pollen Careers, catering to early-career and entry-level roles, mentioned that AI has “accelerated” the decline in graduate recruitment over several years.

    She added: “It’s evident that a substantial number of jobs in the coming years will vanish due to the prevalence of desk jobs focused on information processing.”

  • 4. Acquire AI skills immediately

    According to David Bell from Odgers, an executive search firm, law firms are increasingly prioritizing AI skills in their graduate recruitment processes. “During interviews, they are inquiring about candidates’ knowledge and use of AI,” he noted. “Candidates unfamiliar with tools like ChatGPT will find it hard to secure positions.”

    James Milligan, global head of STEM recruitment for multinational Hayes, concurred: “Without an understanding of AI tools, candidates will disadvantage themselves. Jobs remain, but they evolve. We are in the midst of that evolutionary shift.”

    Chris Morrow, managing director at Digitalent, which specializes in AI-related placements, mentioned he is developing a new category of AI-Adjacent roles rather than merely adopting technology.

    This rising demand for skills has led universities to rethink their curriculum. Louise Ballard, co-founder of atheni.ai, stated that while assisting companies in integrating AI technology, there’s a noticeable gap in “basic AI literacy education” at the university level.

    “Your workforce lacks the necessary training,” she remarked. “Success in AI requires practical skills, which are not strictly academic.”

    Morrow asserted the real concern lies in underutilizing AI, emphasizing that educational institutions and governmental policies need to adapt. “Universities must incorporate AI training across all subjects,” he urged.

  • 5. Graduates are using AI to job-hunt, but caution is advised

    AI is proving helpful for composing resumes and cover letters, leading to an increase in applications as the process becomes more user-friendly.

    Bright Network reports that AI utilization among alumni and undergraduates has grown to 50%, up from 38% last year. Teach, a prominent graduate employer, plans to enhance non-writing review processes to mitigate the effects of AI-generated inputs.

    ISE’s Tyler cautioned that over-reliance on AI in applications may force employers to cut recruitment efforts short and focus on specific demographics. This could disadvantage underrepresented groups, she indicated.

    James Reed noted that what was once a major red flag, such as typos, may now be viewed differently. “In the past, I filtered out CVs with spelling mistakes, assuming candidates were either careless or inattentive to detail,” he remarked.

  • 6. Consider applying to small businesses

    Small and medium-sized enterprises, defined as those with fewer than 250 employees, have also emerged as viable options for graduates.

    Pollen O’Brien noted that small businesses are the largest employers in the UK, accounting for 60% of the workforce. A lack of AI proficiency in these organizations presents unique employment opportunities.

    “Many of these businesses are unaware of AI capabilities and may even fear them, creating chances for new graduates to provide much-needed skills,” she affirmed. “By imparting these skills to small businesses, there’s potential to revolutionize operations.”

    Dan Hayes, co-founder of the Alumni Recruitment Office, remarked on the thousands of lesser-known employers “eager for innovative individuals.”

    “There exists a vast, untapped market seldom covered in discussions,” he concluded.

    • Source: www.theguardian.com

    AI is Joining the Radiology Workforce: Efficiency Gains Observed So Far.

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    Nine years ago, a prominent artificial intelligence scientist picked an at-risk profession.

    “Individuals should stop pursuing a career as a radiologist now,” stated Jeffrey Hinton, asserting that AI would undoubtedly surpass human performance in this area within five years.

    Currently, radiologists—medical imaging specialists diagnosing and treating diseases—are still in significant demand. Recent studies indicate a steady workforce growth projected by the American College of Radiation until 2055.

    Dr. Hinton, who earned a Nobel Prize in physics for his groundbreaking AI research last year, has indeed had a monumental influence on technology.

    This is evident at Mayo Clinic, one of the nation’s premier healthcare systems, with its primary campus located in Rochester, Minnesota. In recent years, Mayo Clinic has embraced AI technology to analyze images, automate everyday tasks, detect medical issues, and forecast diseases. AI also acts as a “second opinion.”

    “But will it replace radiologists? We don’t believe so,” said Dr. Matthew Colestrom, chairman of radiology at Mayo Clinic. “We understand how challenging this work is and its interrelations.”

    Computer scientists, industry experts, and policymakers have long debated the future of AI in the workforce. Will it serve as a smart assistant, enhance human performance, or be a robotic agent that displaces millions of workers?

    The conversation intensifies as the cutting-edge technology behind chatbots appears to be advancing more quickly than anticipated. Leaders from companies like OpenAI and others forecast that AI will automate most cognitive tasks within a few years. Conversely, numerous researchers predict a more gradual transformation, akin to the introduction of electricity and the Internet, consistent with historical technological disruptions.

    The potential obsolescence of radiologists serves as an illustrative example. Thus far, AI has proven to be a robust medical asset that enhances efficiency and augments human abilities, rather than replacing them.

    Radiology has been a primary focus in the development and implementation of AI in healthcare. Of the more than 1,000 AI applications approved by the Food and Drug Administration for medical purposes, approximately 75% pertain to radiology. AI excels in identifying and assessing specific abnormalities, such as lung lesions and breast tumors.

    “While there have been remarkable advancements, these AI tools mainly focus on general cases,” remarked Dr. Charles E. Kern Jr., a radiology professor at the University of Pennsylvania’s Perelman School of Medicine and editor of the journal. Radiology: Artificial Intelligence.

    Radiologists do much more than merely examine images. They provide consultations to other physicians and surgeons, engage with patients, compile reports, and scrutinize medical histories. After detecting potential tissue anomalies, they interpret the implications for individual patients based on their unique medical backgrounds, drawing from years of expertise.

    David Ortl, a labor economist at the Massachusetts Institute of Technology, stated that AI “underestimates the intricacy of work performed by humans.”

    At Mayo Clinic, AI tools are being researched, developed, and customized to align with the hectic schedules of physicians. Since Dr. Hinton’s prediction, the radiology staff has expanded by 55%, now exceeding 400 radiologists.

    Prompted by concerns and advancements in AI-related image recognition in 2016, radiology leaders assembled a team to evaluate the potential effects of the technology.

    “Our initial thought was to leverage this technology for our betterment,” recalled Dr. Callstrom. “That was our primary objective.”

    A decision was made to invest. Today, the Department of Radiology boasts a 40-member AI team, featuring AI scientists, radiation researchers, data analysts, and software engineers. They have created a diverse suite of AI tools, from tissue analysis instruments to disease prediction models.

    The team collaborates with specialists like Dr. Theodora Pototzke, who focuses on the kidneys, bladder, and reproductive organs. She regards the radiologist’s role as that of a “secondary physician,” clearly conveying imaging findings and providing guidance.

    Dr. Pototzke employs AI tools to gauge kidney volume. Growth in the kidneys, when coupled with cysts, can signal a decline in function even before changes are detectable in blood tests. Previously, she measured kidney volume mainly by hand, akin to using an on-screen ruler, resulting in variable outcomes and lengthy processes.

    Serving as a consultant, end user, and tester for the department’s AI team, Dr. Pototzke assisted in designing software with color coding for various conditions and evaluating measurements.

    Now, she can simply retrieve an image on a computer, click an icon, and instantly see the kidney volume measurements. This saves her 15-30 minutes with each kidney scan and consistently yields accurate results.

    “This is a fantastic example of effectively utilizing AI for increased efficiency and accuracy,” Dr. Pototzke commented. “AI can augment, enhance, and quantify processes, but I am not in a position to relinquish interpretative duties regarding technology.”

    In the hall, staff radiologist Dr. Francis Buffer elaborated on the various AI applications prevalent in the field, often operating behind the scenes. He stated that manufacturers of MRI and CT scanners incorporate AI algorithms to expedite image acquisition and enhance quality.

    AI also autonomously identifies images with the highest likelihood of abnormal findings, effectively informing the radiologist, “focus here first.” Another application scans for heart or lung clots, even when the medical emphasis lies elsewhere.

    “AI is currently integrated throughout our workflow,” noted Dr. Buffer.

    In total, Mayo Clinic implements over 250 AI models, both developed in-house and sourced from vendors. The Radiology and Heart Disease divisions are the largest consumers of these technologies.

    In some circumstances, emergent technologies unveil insights surpassing human capabilities. One AI model analyzes ECG data to forecast patients likely to develop cardiac fibrillation.

    Research initiatives in radiology utilize AI algorithms to detect subtle transformations in pancreatic shape and texture, potentially identifying cancers up to two years before conventional diagnoses. The Mayo Clinic team is collaborating with other healthcare organizations to further validate these algorithms with more data.

    “Mathematical modeling enables us to perceive what the human eye cannot,” mentioned Dr. John Haramka, president of the Mayo Clinic Platform, overseeing the digital initiatives of the health system.

    Dr. Halamka, an advocate for AI, is confident that this technology will revolutionize medicine.

    “In five years, failing to use AI will be considered a form of medical malpractice,” he suggested. “However, this means that humans and AI will collaborate closely.”

    Dr. Hinton concurs. Reflecting on his previous statements, he believes he was overly broad in 2016, clarifying that his remarks were solely about image analysis, and while he may have misjudged the timeline, he maintains his original stance.

    Over the years, most medical imaging interpretations are made through a partnership between AI and radiologists, which not only enhances accuracy but also significantly increases radiologists’ efficiency, according to Dr. Hinton.

    Source: www.nytimes.com

    NOAA employees witness deliberate interference during workforce reductions

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    A group of National Maritime and Atmospheric Administration workers, who were terminated in February, rehired in March, and then fired again in April, claim they experienced payroll issues during that time and did not receive their health insurance plans or essential documents.

    Kayla Besong, a physical scientist at the Pacific Tsunami Warning Center, described the situation as intentional chaos and weaponized incompetence. She revealed that she missed one of her final paychecks and was later rehired and fired for the second time after issuing a Tsunami Alert.

    Another worker mentioned having to undergo a $70,000 operation without proper insurance coverage.

    After initially terminating more than 600 probation employees in February, which included hurricane hunters, meteorologists, and storm modelers, the Commerce Department and NOAA were ordered to reinstate many of them in March. However, after the Supreme Court suspended some of the reinstatements, NOAA decided to fire the workers for the second time.

    Communication issues prevented workers from receiving unemployment benefits and paying out-of-pocket for healthcare costs that should have been covered. Civil servants highlighted these challenges faced by NOAA workers, urging for better support.

    Despite multiple attempts to reach out for interviews, neither NOAA nor the Commerce Department responded to NBC News.

    Concerns about lack of planning and deliberate chaos have been raised by critics, pointing out the challenges faced by federal employees.

    The concerns were outlined in a letter addressed to Secretary of Commerce Howard Lutnick, accusing the Ministry of Commerce of engaging in illegal conduct.

    Limited communication and lack of proper documentation added to the confusion for affected NOAA workers, who had to rely on former colleagues for assistance.

    Former employees shared their struggles with receiving proper information and dealing with administrative issues.

    Despite the challenges, some workers remain hopeful of returning to their jobs once the situation is resolved.

    The uncertainties surrounding the employment situation have left some workers worried about their future prospects.”

    Source: www.nbcnews.com

    Zuckerberg cautions of a challenging year ahead, Meta to downsize workforce by thousands

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    Meta, the parent company of Facebook, WhatsApp, and Instagram, is planning to reduce its global workforce by around 5%, with underperforming employees being the most likely to be let go.

    CEO Mark Zuckerberg outlined in a memo to employees that due to what he referred to as a challenging year ahead, he has decided to prioritize performance management by letting go of poor performers quicker than usual and accelerating the company’s performance evaluation process.

    As of September, Meta had 72,000 employees globally, and the planned job cuts could impact up to 3,600 employees. The company aims to fill the vacant positions later in the year.

    The announcement comes shortly after Meta’s decision to end third-party fact-checking and emphasize free speech, coinciding with President Donald Trump’s imminent return to the White House. The Diversity, Equity, and Inclusion (DEI) program is also being terminated.

    Employees in the US affected by the layoffs will be notified by February 10, with notifications for employees in other countries to follow later.

    In the memo, Zuckerberg stated that he is raising the standards for performance management within the company: “We usually manage underperforming talent over a year, but this time we plan to make broader performance-based cuts during this cycle.”

    The 40-year-old billionaire emphasized, “This will be an intense year. I want to ensure we have the best talent on the team.”

    Employees being let go will be those who have been with Meta long enough to qualify for performance reviews.

    Zuckerberg assured that the company will provide generous severance packages to those losing their jobs, similar to previous layoffs.

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    Meta’s stock dropped 2.3% on Tuesday, continuing a decline that began the day before.

    The company faced criticism for removing its fact checker, potentially allowing misinformation and harmful content to circulate on its platform.

    Similar to other tech companies, Meta is investing in artificial intelligence projects, with a focus on crucial technologies like AI, as mentioned by Zuckerberg.

    Source: www.theguardian.com

    The Global Workforce Isn’t Prepared for ‘Digital Workers’ Yet | Artificial Intelligence (AI)

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    It’s clear that people are not prepared for the “digital worker” yet.

    CEO Sarah Franklin learned this lesson. Lattice is a platform for HR and performance management that offers services like performance coaching, talent reviews, onboarding automation, compensation management, and many other HR tools to over 5,000 organizations globally.

    So, what exactly is a Digital Employee? According to Franklin, avatars like engineer Devin, lawyer Harvey, service agent Einstein, and sales agent Piper have “entered the workplace and become colleagues.” However, these are not real employees but AI-powered bots like Cognitive.ai and Eligible performing tasks on behalf of humans.

    Salesforce Einstein, for example, helps sales and marketing agents forecast revenue, complete tasks, and connect with prospects. These digital workers like Devin and Piper don’t require health insurance, paid vacation, or retirement plans.

    Despite backlash, Franklin announced on July 9th that the company will support digital employees as part of its platform and treat them like human workers.

    However, this decision faced criticism on platforms like LinkedIn for treating AI agents as employees. Disagreements arose on how this approach disrespects actual human employees and reduces them to mere “resources” to be measured against machines.

    The objections eventually led Franklin to reconsider the company’s plans. The controversy raised legitimate concerns about the inevitability of the “digital employee.”

    AI is still in its early stages, evident from the failures of Google and Microsoft’s AI models. While the future may hold potential for digital employees to outperform humans someday, that time is not now.

    Source: www.theguardian.com

    Dyson Ltd plans to lay off over a quarter of its workforce in the UK.

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    Dyson, a maker of vacuum cleaners and air purifiers, will be reducing its UK workforce by more than a quarter by cutting around 1,000 jobs as part of a global restructuring effort. Employees were informed of the job cuts on Tuesday morning, which is part of a larger initiative to cut 15,000 jobs worldwide.

    The company, famous for its bagless vacuum cleaners, hand dryers, and bladeless fans, currently employs 3,500 people in the UK across offices in Wiltshire, Bristol, and London. The decision to make these cuts was made before the announcement of the general election in May.

    These job cuts were announced on the same day that Commerce and Trade Minister John Reynolds held a conference call with 170 business and industry leaders to discuss priorities and answer questions.

    Dyson’s CEO, Hanno Kilner, stated that the company operates in a highly competitive global market where innovation and change are accelerating rapidly, requiring them to be agile and entrepreneurial. While growth is a priority, the company regularly reviews its global structure to ensure it is prepared for the future, even though job cuts are “always very painful.” Kilner promised support for those affected by the cuts.

    Founded in 1991 by inventor Sir James Dyson in Malmesbury, Wiltshire, Dyson conducts the majority of its product research, development, and design in the UK. The UK will remain the primary research and development base for the company, with Malmesbury housing the Dyson Laboratory.

    In Asia, Dyson faces competition from local rivals and has seen the importance of Asian supply chains and customers grow. In 2019, Dyson moved its headquarters to Singapore in response to this shift. The company has expanded from vacuum cleaners to other products like hair dryers, fans, and air purifiers, and has plans to launch robotics products in the future.

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    Dyson paid a dividend of 1.2 billion pounds to its founder’s Singapore-based holding company two years ago. The company has earned a total of 4 billion pounds from its tech companies over the past five years. Dyson’s founder is one of the wealthiest businessmen in Britain, with an estimated fortune of £20.8 billion as of May.

    In December, Dyson lost a libel lawsuit against the Daily Mirror’s publishers after being accused of hypocrisy for supporting Brexit before moving the company’s headquarters to Singapore.

    Source: www.theguardian.com

    Cruise reduces self-driving workforce by 25%, another electric scooter startup leaves market, and a special year-end message

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    The Station is a weekly newsletter dedicated to all things transportation. Just sign up here and click on “The Station” to have our newsletter delivered to your inbox every weekend. Subscribe for free. Welcome to the station. It is the central hub for all past, present, and future means of moving people and goods from point A to point B. Hello! And goodbye! Well, at least until 2024. The station will be closed for a while until the end of this year. I would like to thank everyone who reads our weekly newsletter and sends me suggestions, tips, and criticism. Yes, I appreciate the thoughtful backlash. This year has seen new startups emerge (so many electric boat and RV companies, right?), more EVs on the roads, and numerous commercial milestones achieved in the self-driving vehicle industry. It was a year of lots of movement. Of course, there were dark moments and even shocking moments. Many startups went bankrupt, including a number of mobility SPACs, and layoffs remained widespread into the final months of the year. Two of the most surprising stories involve the self-driving car industry. Argo AI It made a comeback with a new AV startup funded by Softbank, but cruise. Cruise’s story continues to unfold and will likely play out until 2024. Last week was a tough week for Cruise, albeit as expected. As a result, the Cruise board, and by extension the GM board, are doing a housecleaning to restore years of technological advances. As part of that mission, nine top leaders were removed and 900 workers were laid off. We will continue to follow Cruise’s story next year. But that’s not our only focus. The TechCrunch team cares about the future of transportation, from new EV and battery technologies to electric and hydrogen aviation, self-driving cars, micromobility, and in-vehicle technology. It’s not just about highlighting the next new new thing. Instead, we strive to explain why it’s important and who it affects. In other words, we’re the kind of people who take unlikely exits and side streets to explore what others might avoid. Please join us. See you in the new year! Want to contact us with a tip, comment, or complaint? Email Kirsten at kirsten.karasec@techcrunch.com. Send your notes to tips@techcrunch.com. If you wish to remain anonymous, Click here to contact usthis includes SecureDrop (instructions here) and various encrypted messaging apps. micromobin The big talking point in Scooterville was the “seemingly” sudden decision. super pedestrian Just 18 months after raising $125 million, the company is closing its U.S. operations and beginning to consider selling its European operations. I don’t want to say I saw this coming, but given that in late November Superpedestrian began laying off several European executives responsible for global development and operations, Let’s just say I wasn’t shocked by the news. Superpedestrian’s Link scooters are available in about 60 cities in 11 countries, but are scheduled to be withdrawn from most markets by the end of 2023. The startup positioned itself as a partner for safe cities and invested in advanced passenger assistance technology by acquiring Navmatic in July 2021. That’s where Pedestrian Protection was born, Superpedestrian’s GPS-based safety system that could detect and correct unsafe rider behavior in real time. However, the system was competing with other camera-based computer vision systems popularized by Drover AI and Luna. Lime, the only big scooter company likely to survive, introduced its own version of rider-assistance technology on its scooters in July 2022, around the same time that Superpedestrian began cutting jobs. As the balance sheets of public companies Bird and MicroMobility.com (formerly Helbiz) demonstrate, shared micromobility is a difficult business to run properly. Bird has recently been kicked off the stock market, announced several layoffs and is likely close to filing for bankruptcy. MicroMobility.com has undergone not one but two reverse stock splits this year, and its stock price remains depressed. And after several failed acquisition talks, Tier Mobility also announced layoffs in November. Oh, and let’s not forget Boruto’s mysterious disappearance. My question now is who will be next to fly off to the great beyond? — Rebecca Beran This week’s sale We have lots of great deals this week! dimensional energy, a New York-based startup that develops sustainable aviation fuel from carbon dioxide emissions and water, has raised $20 million in a Series A round led by Envisioning Partners. Strategic investors include United Airlines Sustainable Flight Fund, Microsoft Climate Innovation Fund, Rock Creek Smart Aviation Futures Fund, DSC Investments, Derek US, and New York Ventures, as well as Elemental Excelerator and Chloe Capital. Existing investors also participated. summer timea Chinese new energy vehicle fleet management company, has completed an $80 million funding round to fuel R&D investment and real-time computational analysis. exponential energyThe Indian EV charging startup has raised $26.4 million in Series B led by Eight Road Ventures and TDK Ventures. This funding will help Exponent expand its 15-minute charging solution to five major cities in India in FY2024 and enter the intercity e-bus segment. The company plans to deploy 1,000 charging stations and equip 25,000 EVs with Exponent by 2025. Ric the mobility-as-a-service startup has raised €1.4 million ($1.53 million) from Habert Dassault Finance, AfriMobility (Akwa Group), angel investors, and banks including Bpifrance, Crédit Mutuel, and Caisse d’Épargne. meta fuela sustainable jet fuel startup, has raised $8 million in a round led by Energy Impact Partners and Contrarian Ventures. Vanmo, a São Paulo-based startup looking to expand electric motorcycle battery swapping in Latin America, has raised $30 million in a Series A round to capitalize on the growing popularity of bikes across the region. The equity and debt round was led by Monasees, with participation from Climate Technology Fund 2150 and Maniv Mobility.

    Source: techcrunch.com

    Google’s AI demo was fake, Grand Theft Auto VI captures attention, Spotify reduces workforce

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    Welcome to the Week in Review (WiR)

    Welcome everyone to Week in Review (WiR). This is TechCrunch’s regular newsletter that recaps the past few days in technology. AI is back in the headlines, with tech giants from Google to X (formerly Twitter) taking on OpenAI for chatbot supremacy. But so much more happened. In this issue of WiR, Google fakes a demo of a new AI model (and handed out an offensive note to Black Summit attendees), defense startup Anduril unveils fighter jet weapons, and the latest from the 23andMe hack The Continuing Aftermath and Grand Theft Auto VI trailer. Other stories include patient scans and health records leaked online, Meta’s new AI-powered image generator, Spotify layoffs, and self-driving truck startup pulling out of the US. There’s a lot to do, so don’t delay. But before that, if you haven’t already, here’s a reminder to subscribe here so you can receive her WiR in your inbox every Saturday.

    Google fakes a new AI model (and hands out an offensive note to Black Summit attendees)

    Google this week announced a new flagship AI model called Gemini. However, the complete model Gemini Ultra was not released, only a “lite” version called Gemini Pro. Google touted Gemini’s coding and multimodal capabilities in press conferences and blog posts, claiming the model can understand not only text but also images, audio, and video. However, because Gemini Pro is strictly text input and text output, it has proven to be error-prone. And to make matters worse for Google, the company was caught faking the Gemini demo by adjusting the text prompts with still images taken away from the camera. In another Google PR failure, people who attended the company’s K&I Black Summit in August were given third-party notebooks containing extremely insensitive language. My colleague Dominique Madri wrote that the inside of the notebook had the phrase “I was just now” printed on it. cotton That was the moment, but I came back to take your notes” (emphasis on our notes). Needless to say, this would not have been well-received by the mostly black audience in attendance. Google promises to “avoid similar situations.”

    Anduril’s new weapons

    Anduril, the controversial defense company co-founded by Oculus founder Palmer Lackey, has developed a new product designed to counter the proliferation of low-cost, high-powered aerial threats. A modular, twin-jet-powered, autonomous vertical take-off and landing aircraft (one version of which can carry warheads), called the Roadrunner, can take off from, track, and destroy targets, as well as intercept them. If there is no need, you can intercept the target. autonomously maneuver back to base, refuel and reuse. More 23andMe victims: Last Friday, genetic testing company 23andMe announced that hackers had accessed the personal data of 0.1% of its customers, or about 14,000 people. But the company initially declined to say how many other users may have been affected by the breach, which 23andMe first disclosed in October. In all, 6.9 million people had their name, year of birth, relationship label, percentage of his DNA shared with relatives, ancestry reports, and self-reported location exposed.

    Grand Theft Auto VI trailer goes viral

    The first trailer for Grand Theft Auto VI reached 85 million views in just 22 hours, breaking the MrBeast video’s record for most YouTube views in 24 hours. The excitement for Grand Theft Auto VI continues for his decade. The previous installment in Rockstar Games’ long-running series, Grand Theft Auto V, remains the same. second best selling Best video game of all time, not even close to Minecraft.

    Patient records leaked

    A security weakness in a decades-old industry standard designed for storing and sharing medical images has led to thousands of exposed servers exposing the medical records and personal health information of millions of patients. I am. This standard, known as Digital Imaging and Communications in Medicine (DICOM), is an internationally recognized format for medical images. However, as German-based cybersecurity consultancy Aplite has discovered, security flaws in DICOM are allowing many healthcare facilities to unintentionally make their personal data accessible from the open web.

    Meta generates images

    Not to be outdone by the launch of Google’s Gemini, Meta has launched a new standalone generative AI experience, Imagine with Meta AI, on the web. This allows users to create images by describing them in natural language. Similar to OpenAI’s DALL-E, Midjourney, and Stable Diffusion, Imagine with Meta AI leverages Meta’s existing Emu image generation model to create high-resolution images from text prompts.

    Spotify makes layoffs

    Spotify will cut around 1,500 jobs, or about 17% of its workforce, in its third round of layoffs this year as the music streaming giant aims to “increase both productivity and efficiency.” It’s a schedule. In a memo to employees on Monday, Spotify founder and CEO Daniel Ek cited slowing economic growth and rising costs of capital, saying the company needs more employees to face “the challenges ahead.” He stated that it is important to set an appropriate size of staff.

    TuSimple will exit

    When TuSimple went public in 2021, it was emerging as the leading self-driving truck developer in the U.S., but now, after a series of internal disputes and the loss of a key partnership with truck manufacturer Navistar, TuSimple is completely removed from the U.S. We are withdrawing. TuSimple says:

    ZestMoney will shut down

    ZestMoney, a buy-now-pay-later startup that can underwrite small loans to first-time Internet customers and has attracted a number of high-profile investors, including Goldman Sachs, has found a buyer. Efforts failed and it was closed. At its peak, the Bangalore-based startup employed around 150 people and raised more than $130 million during its eight-year run.

    TechCrunch’s latest podcast episodes

    TechCrunch’s list of podcast episodes continues to grow, just in time for your weekend listening. capital We featured a retrospective conversation from TechCrunch Disrupt 2023. Alex is the founder of Trible, a no-code app builder that helps you build online courses. He spoke with Serhii Bohoslovskyi. The two talked about the current state of the creator economy, the state of use of no-code tools today (and how it’s being embraced by non-technical creators), and the safety of startups with Ukrainian roots. . It’s over found, the crew spoke to David Rogier, CEO and founder of MasterClass, a streaming platform where you can learn from world experts on a variety of topics. Before Rogier launched his MasterClass, he worked as a VC, and through those connections he secured a $500,000 seed round before the company even had an idea. and, Chain reaction, Jacqueline interviewed David Packman, Managing Partner and Head of Venture Investments at Coinfund. Prior to CoinFund, David worked at venture capital firm Venrock where he worked for 14 years. He also led the Series A and B rounds of Dollar Shave Club, which was acquired by Unilever for $1 billion. And he co-created Apple Music in 1991, when David was in Apple’s Systems Software Product Marketing Group.

    Source: techcrunch.com