Leadership in the Age of AI

Also: By 2032, generative AI will significantly change half of all jobs, report says

Author

AI KATANA
January 18, 2024

Hi there!

In today's edition of our daily email newsletter, we delve into the diverse impacts and advancements of artificial intelligence across various sectors. From leadership challenges in the age of AI, to generative AI's expected transformation of half the jobs by 2032, we explore the dynamic landscape of AI integration. We also look at the latest AI gadgets challenging smartphone dominance, TSMC's bullish revenue forecasts driven by AI chip demand, and the potential of AI to democratize and empower society, challenging traditional economic hierarchies. Additionally, we cover the growing use of generative AI tools in game development and the successful Series A funding of Recraft's unique AI graphic design tool, illustrating the rapid evolution and varied applications of AI technology.

Sliced:

  • 🧑‍💼 Leadership in the Age of AI

  • 👷 By 2032, generative AI will significantly change half of all jobs, report says

  • ⚙️ The latest AI gadget frenzy wants to do away with phones

  • 📈 TSMC bullish on AI demand, forecasts 20% revenue growth this year

  • ⬆️ For all our fear of AI dystopia, it may help to level up society

In the current era, leadership faces new challenges and opportunities with the integration of AI in various sectors. The adaptability, vision, and capability of leaders are crucial in guiding their organizations through the transformative impacts of AI. This shift requires a reevaluation of traditional leadership approaches, with a focus on embracing innovation and navigating the complexities AI brings to decision-making and work processes. It's essential for leaders to view AI as an opportunity for growth and change, rather than a risk, to fully harness its potential.

By 2032, generative AI is expected to significantly alter about half of all jobs, according to research by Cognizant and Oxford Economics. While about 9% of the U.S. workforce might be displaced, 1% may struggle to find new employment. Historically, technology impacted manual labor and process-centric work, but now jobs requiring higher knowledge levels are more affected. Job roles like credit analysis, programming, and graphic design could see up to 80% of tasks automated by generative AI. To harness AI's potential, businesses must foster trust and develop robust reskilling programs for employees.

The article discusses the rising trend of AI gadgets aiming to replace smartphones. It focuses on two products: Rabbit's R1, an AI pocket companion, and Humane's AI lapel pin, both seeking to innovate beyond traditional smartphone functionalities. However, there's skepticism about their success due to their similarity to existing devices. The article also notes the decline in smartphone sales and the high investor interest in AI startups. Established companies like Samsung are integrating AI features into new phones, suggesting that adaptation of old technology might overshadow these early AI innovations.

Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's largest contract chipmaker, reported a 19% drop in fourth-quarter net profit to T$238.7 billion ($7.6 billion), although this surpassed market expectations. Despite a challenging environment marked by weak smartphone and electric vehicle sales, TSMC forecasts over 20% revenue growth in 2024, driven by robust demand for advanced chips in AI applications. The company plans significant capital investments, maintaining 2023 levels at $28-$32 billion, and expanding its global manufacturing footprint, including new facilities in Germany, Arizona, Japan, and potentially a third in Kaohsiung, Taiwan, focusing on advanced 2 nanometre chips.

🆕 For all our fear of AI dystopia, it may help to level up society

The article explores the potential of AI to level up society, despite fears of an AI dystopia. Rapper will.i.am envisions AI as a tool for social leveling, pulling marginalized people into the mainstream economy. This perspective contrasts with concerns about AI exacerbating social inequalities and job displacement. The article suggests that AI could challenge economic hierarchies by enabling a broader range of people to perform complex cognitive tasks, thereby democratizing access to 'head' work traditionally reserved for an educated elite. This optimistic view sees AI as a tool for empowerment and social change, particularly in developing countries.**

🛠️ AI tools updates

A recent survey revealed that 50% of game developers work in studios already utilizing generative AI tools. However, there's significant concern about ethical use, with 84% of developers expressing some level of concern. The survey, aggregating views from over 3,000 industry professionals, indicates varying levels of AI tool adoption across different studio departments. Despite AI's growing presence, developers remain split on whether its impact on the industry will be predominantly positive or negative. This illustrates a cautious but growing integration of AI in game development.

💵 Venture Capital updates

Recraft, a UK-based AI graphic design tool developer, secured $12 million in Series A funding, led by Khosla Ventures and former GitHub CEO Nat Friedman. Unlike most generative AI tools that produce raster images, Recraft specializes in vector art, icons, 3D images, and illustrations, adhering to brand style guidelines. The platform, launched eight months ago, already boasts over 300,000 users. Its unique Foundation Model, a pre-trained deep learning algorithm, distinguishes it from competitors relying on open-source AI platforms. This funding is set to enhance the quality and consistency of AI-generated designs.

🫡 Meme of the day

⭐️ Generative AI image of the day