August 05, 2024
Major Transformations in Tech Jobs Due to AI Demand Reskilling: A recent report highlights that 92% of ICT-related jobs will experience significant changes due to AI advancements, necessitating new skills such as AI literacy and data analytics. In response, major companies like Cisco, Google, and Microsoft are committing to extensive training programs to equip workers with the necessary skills for the evolving job landscape.
Intel Announces Layoffs of 15,000 Employees Amid Financial Struggles: Intel has confirmed plans to lay off approximately 15,000 employees, representing 15% of its workforce, following disappointing financial performance in 2024. This decision is part of a broader strategy aimed at achieving $10 billion in cost savings by 2025, as the company grapples with declining revenues and the need to adjust its cost structure to align with a new operating model.
Massive Data Breach Exposes Sensitive Information of BangBros Users: One of the world’s most popular adult sites, BangBros, has suffered a major data breach, exposing millions of user records including login details, IPs, locations, and even “model performance statistics”. The unprotected Elasticsearch cluster containing over 8GB of sensitive information was discovered by researchers, raising concerns about potential identity theft, extortion, and privacy issues for the affected users.
CrowdStrike IT Outage Disables 8.5 Million Windows Devices Worldwide: Microsoft has reported that a recent IT outage caused by a faulty software update from CrowdStrike has rendered approximately 8.5 million Windows devices inoperable globally, marking this as one of the largest cyber incidents in history. The disruption has raised significant concerns about cybersecurity, prompting warnings from experts regarding potential opportunistic hacking attempts targeting affected users during this period of uncertainty.
Breakthrough in Semiconductor Technology Enhances AI Training Efficiency: Researchers from POSTECH and Korea University have developed a next-generation semiconductor technology utilizing Electrochemical Random Access Memory (ECRAM) to significantly improve the efficiency and power consumption of artificial intelligence computations. This innovative approach, which incorporates a large-scale array of ECRAM devices and the Tiki-Taka learning algorithm, demonstrates the potential for enhanced AI performance and energy efficiency, paving the way for future commercialization in the field.
Tesla Seeks to Reinstate Musk’s $44.9B Pay Package After Shareholder Approval: Tesla’s attorneys have asked a Delaware judge to vacate her previous ruling that invalidated Elon Musk’s massive $44.9 billion pay package, arguing that the recent shareholder vote approving the compensation plan by a significant margin demonstrates that Tesla’s owners believe Musk deserves the package despite concerns over the 2018 negotiation process. The defense claims that upholding the shareholder vote would reinforce the integrity of the corporate system and reflect stockholder democracy in action.
Justice Department Sues TikTok for Violating Children’s Privacy Laws: The U.S. Department of Justice has filed a lawsuit against TikTok and its parent company ByteDance, accusing them of illegally collecting personal information from children under 13 without parental consent, in violation of the Children’s Online Privacy Protection Act. This legal action follows a previous settlement TikTok reached in 2019 and seeks to hold the company accountable for allegedly allowing minors to create accounts and interact with adults on the platform, while also failing to comply with court-ordered privacy protections.
Nintendo Profits Plummet as Switch Console Sales Stagnate: Nintendo’s quarterly profit has dropped by 55% due to declining sales of its aging Switch game console and software, with the company now boasting over 140 million units sold worldwide. Despite the Switch’s success, Nintendo is facing challenges as it prepares to unveil a successor before April 2025, with software sales also declining by 41% in the last quarter.