AI News Digest 2024-07-03
Fed studies AI's impact on jobs, IMF warns of job disruption in advanced economies, China hosts large AI conference, AI revolutionizes customer journey, AI drive-thru challenges, and AI aids smoking cessation in pregnancy.
Fed Investigating AI’s Potential Impact on Jobs, Economy
Federal Reserve Investigating AI's Potential Impact on Jobs, Economy PYMNTS.com
The Federal Reserve is studying the potential impact of generative AI on productivity, inflation, and the labor market. They are uncertain whether it will eliminate, augment, or create jobs. The International Monetary Fund (IMF) suggests that AI may affect 60% of jobs in advanced economies, potentially leading to lower labor demand, reduced wages, and decreased hiring. Citi projects that AI could impact over half of finance jobs and several other industries.
China Hosts World Artificial Intelligence Conference in Shanghai
China kicks off largest AI conference in Shanghai amid tech rivalry with US South China Morning Post
The World Artificial Intelligence Conference in Shanghai will feature more than 1,500 AI-related products and systems, with over 500 enterprises participating. Premier Li Qiang will open the event, highlighting China's efforts to lead in AI standards amid US sanctions. Notable speakers include Elon Musk, Baidu's Robin Li Yanhong, Ant Group's Eric Jing, and Alibaba's Wang Jian. Chinese AI companies will showcase advancements such as large language models and AI chips to compensate for US tech restrictions.
The Future of Customer Experience: AI Revolutionizing the Customer Journey
Customer Journey AI: The Future of Customer Experience CX Today
Artificial Intelligence (AI) is transforming the customer journey by offering solutions to enhance interactions throughout the journey, increase conversions, and provide personalized experiences. AI tools can improve IVR interactions, simplify self-service, personalize experiences, enhance employee performance, and provide valuable business insights. Landis Technologies is at the forefront of this revolution, offering cutting-edge AI technology for journey optimization, intelligent routing, self-service, and integration with essential business tools.
AI Drive-Thru Ordering Challenges and Prospects in Restaurants
AI drive-thru ordering is on the rise — but it may take years to iron out its flaws NBC New York
Restaurant operators are turning to AI for drive-thru ordering to lower labor costs, but the technology is not widely available yet. Large chains are investing in AI, but adoption may take years. McDonald's ended its partnership with IBM for AI drive-thru technology due to accuracy issues. While some AI technologies claim benefits like order accuracy and upselling, there are concerns about accuracy, potential reputation damage, and resistance from customers, particularly among older age groups. Other restaurant chains like Taco Bell, Wendy's, and White Castle are testing voice AI. Experts predict wider adoption in the next 12-18 months despite the current challenges with AI technology.
Cureus | Artificial Intelligence for Smoking Cessation in Pregnancy
Artificial Intelligence for Smoking Cessation in Pregnancy Cureus
The article discusses the use of artificial intelligence (AI) in assisting pregnant women to quit smoking. The AI intervention involves personalized messaging and support. A study showed that women who received the AI intervention were more likely to quit smoking compared to those who received standard care.