Companies are not saving money with AI, Gartner finds
A recent study found that many organizations have invested significantly in artificial intelligence. Workforce productivity gains have not kept up with that investment.
Read the original →Article digest · Oct 30 AM
AI & Economy — what each story says
Every story in this issue with a short summary, so you can decide what to read before leaving the site. Summaries are written by AI (Claude) only from each publisher's own description and checked by Jev for anything not in that description. They are not full translations. Follow "Read the original" for the full story.
23 stories10 with summaries8 topics
🌐 Macro Economy / Growth3
- Headlines only (the publisher did not provide a description)
- Consumers and A.I. Spending Push U.S. Economic Growth HigherThe New York Times · 10/29 12:35 UTC
- Third Quarter GDP Growth Led by AI Investment, Consumption, and InventoriesCenter for Economic and Policy Research · 10/29 16:49 UTC
- The AI buildout is this era's central economic narrativeAxios · 10/29 16:17 UTC
📈 Productivity4
Taxing AI to save workers would hurt them
Fears about AI-driven job losses risk leading to taxes on capital. Such taxes could undermine investment, wages and competitiveness.
Read the original →AI and the Market for Research Work: Why Economists Gain
Machine-checked proofs push theorem prices toward compute costs. Economists gain because identification has no automatic checker. Employers need fewer coders and more design checkers.
Read the original →- Headlines only (the publisher did not provide a description)
- Ignore AI and ask for that pay riseThe Economist · 10/29 09:47 UTC
👷 Jobs / Labor Market4
Gap Inc. launches AI hiring tool in time for the holidays
The retailer expects around 200,000 seasonal employment applications. Its new AI platform aims to reduce the administrative tasks associated with hiring.
Read the original →CSU Bakersfield conference highlights AI skills to prepare students for workforce
CSUB is preparing students for an AI-driven workforce through new coursework, hands-on projects and its student-built Rio AI tool.
Read the original →- Headlines only (the publisher did not provide a description)
- What to consider if a company that made AI-related job cuts wants you backAP News · 10/29 17:22 UTC
- CT touts AI workforce training as technology reshapes jobsHartford Business Journal · 10/29 10:44 UTC
⚡ Energy / Power Demand4
AI Data Centers Have Driven Gas Turbine Prices Up 50%
GE Vernova's earnings call revealed that buyers are now reserving factory slots years into the future. That demand is reshaping how much power generation costs.
Read the original →- Headlines only (the publisher did not provide a description)
- AI data center boom faces backlash at US ballot boxReuters · 10/29 16:09 UTC
- DCD Studio: Powering AI data centers from space, with Abdullah Al-Shakari, Overview EnergyData Center Dynamics · 10/29 14:17 UTC
- Electricity and AI data centers become top issue for many votersCentral Oregon Daily · 10/29 14:26 UTC
🚢 Trade / Industrial Policy1
Can EU-China AI talks survive Huawei bans and new export controls?
EU and Chinese officials say there is "huge co-operation potential" on AI. The two sides have different regulatory regimes, which may get in the way.
Read the original →🏛️ Central Banks / International Institutions2
- Headlines only (the publisher did not provide a description)
- Warsh’s AI Optimism May Box Him In at the FedBloomberg.com · 10/29 09:00 UTC
- Fed Chair Kevin Warsh’s warning to AI investors: ‘Interest rates get in the cracks’Fortune · 10/29 12:54 UTC
🏗️ Corporate Capex2
AI buildout hits snag as Google and Microsoft put off raising capex forecasts
Microsoft and Alphabet both reported capital expenditures that fell short of estimates. This adds to concern over the cost of the AI buildout.
Read the original →- Headlines only (the publisher did not provide a description)
- The Fed won't budge on rates and it's keenly aware of the AI capex boomOpening Bell Daily · 10/29 09:51 UTC
🗾 Japan's Economy and AI3
New Series: Yoshimitsu Kobayashi on Japan's 'Lost 30 Years' and AI Implementation as Key to Recovery
Share prices have risen, but the domestic economy has not been revitalized. The piece argues that Japan should use its strengths in physical AI to raise international competitiveness. It says executives are required to make bold decisions with a long-term view.
Read the original →Matsuo Institute and Espool Launch Joint Project Using Physical AI in Employment of People with Disabilities
The project will use advanced physical AI technology and research knowledge to explore a new model of collaboration between people and robots. The work will begin at farms.
Read the original →- Headlines only (the publisher did not provide a description)
- Fed Chair Warsh holds rates, AI investment boom drives growth, December hike still possibleBigGo Finance · 10/29 16:25 UTC
The analysis and visual summary are in the Oct 30 AM issue. Japanese version here.