
<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>The Gen Z generation is tracking ahead of Millennials and Gen X for homeownership, a new Redfin&nbsp;<a href="https://www.redfin.com/news/gen-z-millennial-homeownership-rate-home-purchases/" target="_blank" rel="noreferrer noopener">study</a>&nbsp;shows—but the housing market threatens to create inequality across generations as those who didn’t buy homes in the past three years now face elevated prices and mortgage rates.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>Roughly 30% of 25-year-olds in 2022—the oldest of the Gen Z (born between 1997 to 2013)—owned their home in 2022, a slightly higher percentage than the 28% of Millennials (born between 1981 to 1996) who owned homes at that age and the 27% of Gen Xers (born between 1965 and 1980)—but lower than the rate for Baby Boomers (born between 1946 and 1964), 32% of whom owned homes at age 25.</p>



<p>While Gen Z is ahead of their parents’ generation, Millennials are still tracking behind—62% of 40-year-old Millennials owned a home in 2022 compared with the 69% homeownership rate for Baby Boomers at that age.</p>



<p>The oldest of Gen Z were buying houses during the purchasing boom in 2020 and 2021, while the oldest Millennials reached age 25 right around the 2008 mortgage crisis.</p>



<p>Gen Z homebuyers have been flocking more toward affordable parts of the country, like Virginia Beach, Virginia, and Cincinnati, while Millennial buyers are more prevalent in job centers like Seattle and Philadelphia.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>Many from Gen Z took advantage of the 3% mortgage rates in 2020 and 2021 to become homeowners, with the average mortgage rate for homebuyers under 25 in 2021 at 3.1%. A tight labor market during the pandemic also helped that generation build their incomes quickly, as wages rose 12% in 2022, double the increase for the overall population, according to a Bloomberg&nbsp;<a href="https://www.bloomberg.com/news/articles/2023-03-13/gen-z-americans-keep-spending-in-face-of-high-inflation-consumer-prices?sref=fRZXrT1O#xj4y7vzkg" target="_blank" rel="noreferrer noopener">report</a>. Gen Z also focused its homebuying in smaller cities where housing was much less expensive, making it easier to afford a mortgage down payment. For example, Virginia Beach, which was the most popular location for Gen Z buyers in 2022, has a median home sale price of $225,000, while Seattle, the most popular among Millennials, averages $775,000 for a house. This is partly because people under 25 may be more flexible about their location as they enter the workforce in the era of remote and hybrid work, while older adults may be more tied to locations near existing careers, according to the study.</p>



<h2 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h2>



<p>“Millennials have been financially unlucky. Their parents had a more straightforward financial journey,” said Redfin Chief Economist Daryl Fairweather. “The oldest millennials entered the workforce during the 2001 recession. Then came the 2008 financial crisis, with many millennials in their first post-college job.”</p>



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<h2 class="wp-block-heading" id="h-what-to-watch-for">WHAT TO WATCH FOR</h2>



<p>Now that mortgage rates have risen sharply from their pandemic lows, there’s a likelihood those who do not own their homes may have a harder time finding an affordable mortgage, the study shows. The “mortgage Millennials” or Gen Z members who bought homes before prices shot up more than 30% during the pandemic, or when mortgage rates were around 3%, have the upper hand over those who did not buy during that time and now face record-high monthly mortgage payments and rising housing costs.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/nigelwilson/2021/08/18/us-millennials-home-ownership-and-the-growing-chasm-between-aspiration-and-reality/?sh=6eee2e035498">U.S. Millennials: Home Ownership And The Growing Chasm Between Aspiration And Reality</a>&nbsp;(Forbes)</p>



<p><a href="https://www.businessinsider.com/gen-z-millennials-real-estate-investing-mistakes-buying-homes-early-2023-3" target="_blank" rel="noreferrer noopener">Gen Z is coming for the housing market</a>&nbsp;(Insider)</p>



<p><a href="https://www.forbes.com/advisor/mortgages/mortgage-rates/">Compare Current Mortgage Rates</a> (Forbes)</p>



<p><a href="https://www.forbes.com/sites/katherinehamilton/"></a><em><strong>By Katherine Hamilton, Forbes Staff</strong></em></p>


Lesbian couple carrying moving boxes into home

Gen Z Ahead Of Millennials—And Their Parents—In Owning Their Own Homes

In this photo illustration the American online social media

2023 Layoff Tracker: Latest Meta Cuts Could Hit 4,000


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>India will overtake China to become the world’s most populous nation by this summer, data released by the United Nations on Wednesday showed, a tipping point that highlights shifting demographics between the two Asian countries collectively home to more than a third of the global population.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>India’s estimated population by mid-2023 will stand at 1,428.6 million compared to China’s 1,425.7 million,&nbsp;<a href="https://reliefweb.int/attachments/e13a9007-9523-4fd4-8bae-21f7123e6e3d/SWOP2023-ENGLISH-230329-web.pdf" target="_blank" rel="noreferrer noopener">according to</a>&nbsp;the United Nations Population Fund’s (UNPFA) “State of World Population Report.”</p>



<p>The exact date of when the shift is unclear, but a UNPFA spokesperson&nbsp;<a href="https://www.hindustantimes.com/india-news/india-overtakes-china-as-world-s-most-populous-country-with-2-9-million-more-people-says-un-report-101681880853544.html" target="_blank" rel="noreferrer noopener">told</a>&nbsp;the&nbsp;<em>Hindustan Times</em>&nbsp;that this may have already happened.</p>



<p>The spokesperson added that China’s population peaked in late 2022 and has been declining since, while India’s population continues to grow.</p>



<p><em>Forbes</em>&nbsp;has contacted the agency for comment.</p>



<p>India’s population is not only larger than China, but also a lot younger, with 25% being in the 0-14 age group, 18% in the 10-19 group and 26% in the 10-24 group, compared to 17%, 12% and 18% respectively for China.</p>



<p>With an estimated population of 340 million, the United States comes in at a distant third place.</p>



<h2 class="wp-block-heading" id="h-news-peg">NEWS PEG</h2>



<p>The shifting population dynamics come at a critical time for both India and China as the two Asian giants seek to become both regional and global economic leaders. China’s&nbsp;<a href="https://www.forbes.com/sites/roberthart/2023/01/17/chinas-population-falls-for-first-time-in-60-years-heres-why/?sh=4de09bc12f09">aging population</a>&nbsp;and declining birth rate have raised fears of a looming demographic crisis. This is likely to lead to a shrinking of its labor force, which could in turn have a significant impact on Beijing’s status as a major world power. India, on the other hand, is scrambling to take advantage of what experts call a “demographic dividend” with a large portion of its population being young. This development will likely ramp up India’s government’s efforts to expand employment opportunities as millions of young people enter the workforce.</p>



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<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



<p>8.045 billion. That is the estimate for the world&#8217;s total population by mid-2023, according to the UN data. The global population crossed 8 billion for the first time in November last year.</p>



<h2 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h2>



<p>In a&nbsp;<a href="https://reliefweb.int/report/world/state-world-population-2023-8-billion-lives-infinite-possibilities-case-rights-and-choices-enarru#:~:text=State%20of%20World%20Population%202023,ReliefWeb" target="_blank" rel="noreferrer noopener">statement</a>&nbsp;accompanying the report, the UNPFA addressed what it calls myths about the global population, including the opposing concerns that too many or too few people are being born. “There is no perfect number of people, nor should we prescribe a number of children that each woman should have. History has shown the damage this kind of thinking can cause, such as eugenics and genocide.” The statement also pushes back against the argument that higher fertility worsens the climate crisis by pointing out the fact that the wealthiest 10% of people—who tend to live in low fertility rate countries—are responsible for nearly half of all greenhouse gas emissions.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.hindustantimes.com/india-news/india-overtakes-china-as-world-s-most-populous-country-with-2-9-million-more-people-says-un-report-101681880853544.html" target="_blank" rel="noreferrer noopener">India is now world’s most populous country, suggests UN data</a>&nbsp;(Hindustan Times)</p>



<p><a href="https://reliefweb.int/report/world/state-world-population-2023-8-billion-lives-infinite-possibilities-case-rights-and-choices-enarru" target="_blank" rel="noreferrer noopener">8 Billion Lives, Infinite Possibilities &#8211; The case for rights and choices</a> (UNFPA)</p>



<p><a href="https://www.forbes.com/sites/siladityaray/"></a><strong><em>By Siladitya Ray, Forbes Staff</em></strong></p>


India Passes China on Population

India Will Become The World’s Most Populous Country—Overtaking China—By This Summer, UN Says


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>A new TikTok trend known as “Watertok” has made a splash in recent weeks — as users experiment with flavored water “cocktails” — but the trend has raised many questions, including a debate over whether the drinks are still technically “water” and whether there are health risks associated with the latest viral craze.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>“Watertok” videos often feature women filling up large cups—Stanley tumblers are usually the mode of choice—with ice and water, and then creating an elixir by adding different water flavorings, typically in pursuit of drinking more water throughout the day</p>



<p>Some of the most infamous “water recipes” include&nbsp;<a href="https://www.tiktok.com/t/ZTR3c5wPF/" target="_blank" rel="noreferrer noopener">birthday cake</a>&nbsp;water,&nbsp;<a href="https://www.tiktok.com/t/ZTR3cwP2a/" target="_blank" rel="noreferrer noopener">peach ring</a>&nbsp;water and&nbsp;<a href="https://www.tiktok.com/t/ZTR3cyXrV/" target="_blank" rel="noreferrer noopener">piña colada</a>&nbsp;water—the creators use powdered flavorings from brands like Skittles, Sonic, Crush and Jolly Ranchers and syrups by&nbsp;<a href="https://www.skinnymixes.com/" target="_blank" rel="noreferrer noopener">Jordan’s Skinny Mixes</a>,&nbsp;<a href="https://www.kerryfoodservice.com/collections/sugar-free-syrups?scroll=780" target="_blank" rel="noreferrer noopener">DaVinci</a>&nbsp;and&nbsp;<a href="https://www.makeitmio.com/" target="_blank" rel="noreferrer noopener">MiO</a>&nbsp;to create the drinks.</p>



<p>While the flavorings are typically zero-calorie and sugar free, Watertok’s popularity and the vibrant color and sweetness of the drinks have caused people to&nbsp;<a href="https://www.tiktok.com/t/ZTR3c2VCD/" target="_blank" rel="noreferrer noopener">wonder</a>&nbsp;where to draw the line between water and juice.</p>



<p>Others have resorted to mocking the trend, like this TikTok&nbsp;<a href="https://www.tiktok.com/t/ZTR3cUaCY/" target="_blank" rel="noreferrer noopener">video</a>&nbsp;with over 330,000 likes and 2.5 millions views, in which the creator pretends to make a water recipe, but makes a pitcher of Kool-aid instead.</p>



<p>The trend, which began among patients of weight-loss surgery who were advised to consume water before and after their operations, has picked up steam on TikTok, causing some health experts to praise increased water consumption while others warn that replacing meals with water could lead to disordered eating.</p>



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



<p>134.2 million. That’s how many views the hashtag&nbsp;<a href="https://www.tiktok.com/t/ZTR3vswEU/" target="_blank" rel="noreferrer noopener">#WaterTok</a>&nbsp;has accumulated on TikTok.</p>



<h2 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h2>



<p>“In a perfect world, [people] would be drinking just regular water, but we know some people just don&#8217;t like it or don&#8217;t don&#8217;t drink enough,” obesity medicine specialist and medical director of diabetes reversal company Virta Health, Jeff Stanley, told&nbsp;<em>Forbes</em>. “So, adding in a bit of [flavoring] can be helpful.”</p>



<h2 class="wp-block-heading" id="h-watertok-origins">WATERTOK ORIGINS</h2>



<p>WaterTok originated from bariatric patients who needed to spice up their water intake while on pre- and postoperative liquid diets that last no more than&nbsp;<a href="https://stanfordhealthcare.org/medical-treatments/c/colorectal-cancer-surgery/what-to-expect/clear-liquid-diet-guidelines.html" target="_blank" rel="noreferrer noopener">five days</a>,&nbsp;<a href="https://www.rollingstone.com/culture/culture-features/watertok-tiktok-water-experts-concerned-1234714010/" target="_blank" rel="noreferrer noopener">according</a>&nbsp;to popular WaterTok creator Tonya Spanglo. Stanley told&nbsp;<em>Forbes&nbsp;</em>the reason for the liquid diet is for “people to lose a little bit of weight before the surgery… and shrink the liver a little, which makes the surgery easier.”&nbsp;<a href="https://www.urmc.rochester.edu/encyclopedia/content.aspx?contenttypeid=135&amp;contentid=82#:~:text=The%20most%20common%20types%20of,the%20top%20of%20your%20stomach." target="_blank" rel="noreferrer noopener">According</a>&nbsp;to the University of Rochester Medical Center, there are three common types of bariatric surgeries: gastric bypass, sleeve gastrectomy (or the gastric sleeve) and adjustable gastric banding (or the lap band). During the gastric sleeve, 85% of the patient’s is removed, creating a narrow tube that resembles a sleeve, during gastric bypass the surgeon removes part of the stomach to create a pouch and the lap band involves an adjustable band being placed at the top of the stomach and a port under the skin to tighten the band. Spanglo, known on TikTok as&nbsp;<a href="https://www.tiktok.com/t/ZTR3vg4uy/" target="_blank" rel="noreferrer noopener">takingmylifeback42</a>, is a bariatric patient with almost 800,000 TikTok followers. In a recent&nbsp;<a href="https://www.tiktok.com/t/ZTR3cNUDN/" target="_blank" rel="noreferrer noopener">video</a>&nbsp;addressing the hate she’s received, she made it clear her “dietician and surgeon approved [flavored water].” Spanglo is no longer on a liquid diet as she got her&nbsp;<a href="https://www.tiktok.com/t/ZTR3cPLxg/" target="_blank" rel="noreferrer noopener">surgery</a>&nbsp;three years ago, so she drinks flavored water to meet her water intake goal of at least 64 ounces a day.</p>



<h2 class="wp-block-heading" id="h-benefits">BENEFITS</h2>



<p>The main reason people drink flavored water is to up their water intake. TikToker Haley Staggs&nbsp;<a href="https://www.today.com/food/trends/watertok-flavored-water-recipes-tiktok-rcna79555" target="_blank" rel="noreferrer noopener">told</a>&nbsp;NBC’s&nbsp;<em>Today&nbsp;</em>show that WaterTok has helped her drink more water, and she now consumes “over 100 ounces of water a day.” Stanley said water recipes help his diabetic patients curb their sweet tooth, and he found flavored water was a good alternative to juice and soda because most flavorings use sugar substitutes. For the most part, Stanley believes the WaterTok trend is harmless and a way to “keep things interesting,” while having fun, and considers it water “for all intents and purposes.” Dietician Frances Largeman-Roth told&nbsp;<em>Today</em>&nbsp;“it’s a fun thing to make and drink,” and she loves how people are leveling up their water intakes, but advised against using artificially colored and flavored syrups.</p>



<h2 class="wp-block-heading" id="h-is-it-dangerous">IS IT DANGEROUS?</h2>



<p>Just like any trend, WaterTok has become popular among people who were not originally the target audience. Some WaterTok videos are also hashtagged as weight loss videos, though the trend is not overtly related to weight loss outside of the bariatric surgery requirements. However, chief strategy officer for the eating disorder treatment organization the Emily Program and Veritas Collaborative, Jillian Lampert,&nbsp;<a href="https://www.rollingstone.com/culture/culture-features/watertok-tiktok-water-experts-concerned-1234714010/" target="_blank" rel="noreferrer noopener">told</a>&nbsp;<em>Rolling Stone&nbsp;</em>flavored water is a recipe for a potential eating disorder. Lampert labels people drinking water in place of food as “long-term, old-school eating disorder behavior.” Around 28.8 million Americans will have an eating disorder in their lifetimes, the Association of Anorexia Nervosa and Associated Disorders&nbsp;<a href="https://anad.org/eating-disorders-statistics/" target="_blank" rel="noreferrer noopener">reports</a>. Abdul Matin Azizi, principal dentist at Harley Private Dental,&nbsp;<a href="https://www.independent.co.uk/life-style/health-and-families/watertok-hydration-flavoured-water-receipes-healthy-b2320966.html" target="_blank" rel="noreferrer noopener">warned</a>&nbsp;<em>The Independent&nbsp;</em>about the dangers the trend can pose for dental health. Azini said the additives, artificial sugars and citric acid in the flavorings can “erode tooth enamel and cause tooth decay,” and recommended rinsing the mouth after consumption. Most flavorings, like Skinny Mixes syrup, are sweetened with stevia and erythritol, both sugar alternatives used in the diabetic community. However, a recent study&nbsp;<a href="https://www.forbes.com/sites/ariannajohnson/2023/03/01/new-warning-about-zero-calorie-sugar-substitute-what-experts-are-saying-about-erythritol/?sh=3c1ac8ca5385">linked</a>&nbsp;erythritol with an increased risk of heart disease, though the study only featured participants with heart problems.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/ariannajohnson/2023/03/01/new-warning-about-zero-calorie-sugar-substitute-what-experts-are-saying-about-erythritol/?sh=3c1ac8ca5385">New Warning About Zero-Calorie Sugar Substitute: What Experts Are Saying About Erythritol</a>&nbsp;Forbes)</p>



<p><a href="https://www.today.com/food/trends/watertok-flavored-water-recipes-tiktok-rcna79555" target="_blank" rel="noreferrer noopener">#WaterTok: Why ‘water recipes’ are taking over TikTok</a>&nbsp;(Today)</p>



<p><a href="https://www.rollingstone.com/culture/culture-features/watertok-tiktok-water-experts-concerned-1234714010/" target="_blank" rel="noreferrer noopener">TikTok Is Obsessed With Water. Experts Are Concerned</a> (Rolling Stone)</p>



<p><a href="https://www.forbes.com/sites/ariannajohnson/"></a><strong><em>By Arianna Johnson, Forbes Staff</em></strong></p>



<p><br></p>


In this photo illustration the TikTok logo seen displayed on

Divisive TikTok Trend ‘WaterTok’: Why Some Experts Warn Against It And Others Encourage It


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Alphabet shares are on pace for their worst day in over two months following a report indicating the Google parent company is in danger of losing a key multibillion-dollar search engine contract to Microsoft, as the artificial intelligence rivalry between the two technology giants rages on.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>Samsung is mulling a switch from Google to Microsoft’s Bing as the default search engine on its smartphones and tablets, the&nbsp;<em>New York Times</em>&nbsp;<a href="https://www.nytimes.com/2023/04/16/technology/google-search-engine-ai.html" target="_blank" rel="noreferrer noopener">reported</a>&nbsp;Sunday, putting a contract worth a reported $3 billion per year in jeopardy.</p>



<p>Though that represents just over 1% of Alphabet’s roughly $280 billion in annual revenue, it’s the latest indication that Google’s search engine dominance may be fading, with the&nbsp;<em>Times&nbsp;</em><a href="https://www.nytimes.com/2023/04/16/technology/google-search-engine-ai.html" target="_blank" rel="noreferrer noopener">reporting</a>&nbsp;there was “panic” among Alphabet employees over the Samsung contract.</p>



<p>Alphabet shares slid as much as 4.1% in early trading Monday, shedding $57 billion in market capitalization, while Microsoft shares climbed 1.6%.</p>



<p>That continues a months-long trend of Microsoft’s stock outperforming Alphabet’s, as Microsoft shares are up 21% since the November launch of ChatGPT, OpenAI’s viral chatbot incorporated into Bing; Alphabet shares are up 10% during the same period.</p>



<p>Microsoft has an “early lead” in the artificial intelligence space as it exhibits a “renewed vigor” in the search market, Goldman Sachs analysts led by Kash Rangan wrote in a note to clients last month.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>Microsoft&nbsp;<a href="https://www.forbes.com/sites/dereksaul/2023/01/23/chatgpt-parent-open-ai-gets-game-changing-multibillion-dollar-boost-from-microsoft/?sh=7e64a4253c0c">announced</a>&nbsp;in January it made a multibillion-dollar investment in OpenAI,&nbsp;<a href="https://www.forbes.com/sites/dereksaul/2023/01/23/chatgpt-parent-open-ai-gets-game-changing-multibillion-dollar-boost-from-microsoft/?sh=7e64a4253c0c">reportedly</a>&nbsp;infusing $10 billion into the budding generative AI company and taking what will be a 49% stake in the firm. Just three weeks later, Microsoft&nbsp;<a href="https://blogs.microsoft.com/blog/2023/02/07/reinventing-search-with-a-new-ai-powered-microsoft-bing-and-edge-your-copilot-for-the-web/" target="_blank" rel="noreferrer noopener">rolled out</a>&nbsp;its integration of ChatGPT into Bing and its Edge web browser. Bard, Google’s answer to ChatGPT, has received more lukewarm feedback, with Alphabet shares&nbsp;<a href="https://www.reuters.com/technology/google-ai-chatbot-bard-offers-inaccurate-information-company-ad-2023-02-08/" target="_blank" rel="noreferrer noopener">tanking</a>&nbsp;7% on February 8 after the chatbot provided inaccurate information during a demo.</p>



<h2 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h2>



<p>Microsoft is the “clear early leader” in the generative AI space and has “potential to achieve escape velocity” and separate itself from competitors, JPMorgan analyst Mark Murphy wrote earlier this month.</p>



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



<p>20%. That’s&nbsp;<a href="https://www.counterpointresearch.com/global-smartphone-share/" target="_blank" rel="noreferrer noopener">roughly</a>&nbsp;the proportion of the roughly&nbsp;<a href="https://www.gsma.com/mobileeconomy/wp-content/uploads/2023/03/270223-The-Mobile-Economy-2023-Infographic.pdf" target="_blank" rel="noreferrer noopener">4.4 billion</a>&nbsp;smartphone users worldwide that use a Samsung device, according to Counterpoint Research and GSMA Intelligence data.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/lists/ai50/?sh=1c90f134290f">AI 50</a>&nbsp;(<em>Forbes</em>)</p>



<p><a href="https://www.forbes.com/sites/dereksaul/2023/03/01/ai-is-the-new-electricity-bank-of-america-picks-20-stocks-to-cash-in-on-chatgpt-hype/?sh=5a8f4d9777ac">‘AI Is The New Electricity’: Bank Of America Picks 20 Stocks To Cash In On ChatGPT Hype</a>&nbsp;(<em>Forbes</em>)</p>



<p><a href="https://www.nytimes.com/2023/04/16/technology/google-search-engine-ai.html" target="_blank" rel="noreferrer noopener">Google Devising Radical Search Changes to Beat Back A.I. Rivals</a> (<em>New York Times</em>)</p>



<p><strong><em>By Derek Saul, Forbes Staff</em></strong></p>


In this photo illustration, a woman holds a smartphone with

Google Stock Loses $57 Billion Amid Microsoft’s AI ‘Lead’—And Reports It Could Be Replaced By Bing On Some Smartphones


<p><strong>Name:&nbsp;</strong>Angela Mwanza</p>



<p><strong>Firm:&nbsp;</strong>UBS Private Wealth Management</p>



<p><strong>Location:</strong>&nbsp;New York, NY</p>



<p><strong>AUM:</strong>&nbsp;$878 million</p>



<p><strong>Forbes Rankings:&nbsp;</strong>Best-in-State Wealth Advisors, Top Women Wealth Advisors Best-In-State, America’s Top Women Wealth Advisors</p>



<p><strong>Background:</strong>&nbsp;Angela Mwanza was born and raised in Zambia, where her family still lives. She eventually moved to Germany and learned the language there while pursuing a degree in Linguistics. While studying, Mwanza worked for a sports fashion sales company specializing in snowboarding. “I’m scared of heights and come from Africa so I had never snowboarded… but I self taught myself and still snowboard to this day!,” says Mwanza. In the late 90s, Mwanza decided it was time for a change of pace so she earned her MBA at Cornell University and then landed a job at JPMorgan Private Bank in 2000. When the financial crisis rolled around eight years later, she was working at Lehman Brothers, but was able to move to UBS in the midst of the downturn, where she has worked ever since.</p>



<p><strong>Competitive Edge:</strong>&nbsp;Mwanza is highly focused on family finances and philanthropy in her practice, honing in on the purpose and values of each client in order to be intentional about all aspects of their wealth. “The pain points I kept hearing from clients all had to do with the complexities that wealth brings—and the number one thing people care about is their family,” says Mwanza. As a result she is “always thinking generationally”, engaging the next generation and facilitating discussions throughout the entire family. What’s more, many of her clients have a passion for making a positive change in the world, so a key part of her practice revolves around socially responsible and impact investments.</p>



<p><strong>Biggest Challenge:&nbsp;</strong>When she first moved to the United States for business school, Mwanza had to build up her knowledge and expertises from scratch. “I was so out of my element and completely clueless at the time,” she recalls. “I had never heard of&nbsp;<em>The Wall Street Journal</em>!”</p>



<p><strong>Investment Philosophy/Strategy:</strong>&nbsp;Mwanza takes a holistic approach to working with clients: “I can’t be a good advisor if I’m not speaking to their other advisors and attorneys,” she says. In terms of investing, she and her team are strong believers in long-term, risk-adjusted and tax-aware returns. “Most clients who are entrepreneurial tend to have a lot of risk outside of the portfolio we are managing—so we tend to be moderately conservative when thinking about their lifetime,” adds Mwanza.</p>



<p><strong>Investment Outlook:&nbsp;</strong>“Markets like this with rising rates tend to favor value over growth, so we position more defensively from a tactical standpoint,” she says. “There’s a lot of unknowns but that’s something we just<a href="https://www.forbes.com/digital-assets/assets/just-just/" target="_blank" rel="noreferrer noopener">just</a>&nbsp;<a href="https://www.forbes.com/digital-assets/assets/just-just/">-0.3%</a>&nbsp;have to be ready for and resilient about when it comes to client portfolios.” Mwanza and her team like alternative investments but shuns gold, which “doesn’t make sense” as a hedge to market volatility when Treasuries are yielding nearly 5%. “Our outlook is long term, so we’re not bothered by day to day volatility,” says Mwanza.</p>



<p><strong>Best Advice:</strong>&nbsp;“It’s very important not to be emotionally invested—people get antsy and feel like they have to do something but that’s when most mistakes are made,” she says.</p>



<p><strong>Favorite Hobby: </strong>Mwanza loves pushing her limits outside of work, too: “Don’t tell me I can’t do something,” she says. She has run six marathons (one in Boston, five in New York) and has scaled the summit of Mt. Kilimanjaro. Mwanza also enjoys traveling with her husband, taking trips to see endangered species like rhinos in Asia or tortoises in the Galapagos.</p>



<p><a href="https://www.forbes.com/sites/sergeiklebnikov/"></a><strong><em>By Sergei Klebnikov, Forbes Staff</em></strong></p>


Mighty Dream Forum Hosted By Pharrell Williams 2022 – Day 2

Zambia-Born UBS Advisor Loves Snowboarding And Impact Investing


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Birth control with fewer side effects could be a possibility in the future, as a&nbsp;<a href="https://journals.plos.org/ploscompbiol/article?id=10.1371/journal.pcbi.1010073" target="_blank" rel="noreferrer noopener">study</a>&nbsp;published Thursday found that ovulation can still be effectively prevented when the dosage of hormones in birth control is reduced by up to 92%.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>Researchers examined women aged 20 to 34 with normal menstrual cycles and found that it’s possible to reduce the total dose in both estrogen-only and progesterone-only contraceptives and still prevent ovulation, for a&nbsp;<a href="https://journals.plos.org/ploscompbiol/article?id=10.1371/journal.pcbi.1010073" target="_blank" rel="noreferrer noopener">study</a>&nbsp;published in&nbsp;<em>PLOS Computational Biology</em>.</p>



<p>In estrogen-only contraceptives researchers were able to reduce the total dose by 92% and in progesterone-only birth control they reduced the total dose by 43%.</p>



<p>In contraception with both estrogen and progesterone, the study shows that each dose of the hormone could be reduced further.</p>



<p>PROMOTED</p>



<p>The study found that contraception that distributes estrogen and progesterone at different points in the menstrual cycle could prove more successful than the current norm of steady constant doses of a hormone.</p>



<p>Most forms of contraception— whether pill, injectable or implant—aim to administer estrogen, progesterone or both to block ovulation and stop an egg from being released into the uterus</p>



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



<p><strong>65%</strong>. That’s what percentage of U.S. women aged 15 to 49 used contraception from 2017 to 2019,&nbsp;<a href="https://www.cdc.gov/nchs/products/databriefs/db388.htm" target="_blank" rel="noreferrer noopener">according</a>&nbsp;to the Centers for Disease Control and Prevention.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>Birth control is notorious for its many varying side effects. Weight gain, mood changes, acne and headaches are among the common symptoms of hormonal contraceptives,&nbsp;<a href="https://www.aafp.org/pubs/afp/issues/2010/1215/p1509.html" target="_blank" rel="noreferrer noopener">according</a>&nbsp;to the American Academy of Family Physicians. In a&nbsp;<a href="https://www.kff.org/womens-health-policy/report/contraception-in-the-united-states-a-closer-look-at-experiences-preferences-and-coverage/" target="_blank" rel="noreferrer noopener">survey</a>&nbsp;done by the Kaiser Family Foundation last year, nearly one-third of contraceptive users said they experienced side effects from their current method of birth control, and more than half of those surveyed said the side effects they experienced were more severe than they expected. The effects of hormonal contraceptives on the brain, in particular, have been a focus for many researchers in recent years. A 2022 systematic review of neuroimaging studies on contraception&nbsp;<a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7667464/" target="_blank" rel="noreferrer noopener">found</a>&nbsp;that the use of hormonal birth control can alter both the structure and the function of the brain, a finding which made adolescent women who are still developing increasingly vulnerable, researchers said. If, as Thursday’s study suggests, there is a reduction of hormones in birth control, side effects from contraception could also subside.</p>



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<h2 class="wp-block-heading" id="h-tangent">TANGENT</h2>



<p>Separately there’s been a push to broaden birth control options for sexual partners. A&nbsp;<a href="https://www.nature.com/articles/s41467-023-36119-6" target="_blank" rel="noreferrer noopener">study</a>&nbsp;out earlier this year found a male contraceptive pill was effective in male mice 30 to 60 minutes after they took it, a finding researchers described as a “game changer” for contraceptives. The male mice received a single oral dose of a drug that immobilized sperm for up to two and a half hours, researchers said.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/roberthart/2023/02/14/male-birth-control-drug-sees-game-changer-trial-in-mice-heres-what-you-need-to-know/?sh=37a540db4481">Male Birth Control Drug Sees ‘Game-Changer’ Trial In Mice—Here’s What You Need To Know</a>&nbsp;(Forbes)</p>



<p><a href="https://www.statnews.com/2021/12/06/patients-doctors-clashing-side-effects-hormonal-birth-control/" target="_blank" rel="noreferrer noopener">Patients And Doctors Are Clashing About Side Effects Of Hormonal Birth Control</a> (STAT)</p>



<p><a href="https://www.forbes.com/sites/anafaguy/"></a><strong><em>By Ana Faguy, Forbes Staff </em></strong></p>


TEENAGER TAKING CONTRACEPTIVE PILL FROM BLISTER PACK

Birth Control Can Be Effective With Lower Dosage Of Hormones, Study Finds


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Researchers on Wednesday hailed a groundbreaking new test that can detect Parkinson’s disease, a major breakthrough in the quest to accurately diagnose the progressive and incurable condition and a “game-changer” that clears the way for new treatments, preventatives and even cures.</p>



<p>Researchers have praised a breakthrough in diagnosing Parkinson&#8217;s disease.<small>GETTY</small></p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>The new test can accurately identify Parkinson’s disease using samples of the cerebrospinal fluid surrounding the brain and spinal cord, according to a study of more than 1,100 people&nbsp;<a href="http://www.thelancet.com/journals/laneur/article/PIIS1474-4422(23)00109-6/fulltext" target="_blank" rel="noreferrer noopener">published</a>&nbsp;in&nbsp;<em>Lancet Neurology</em>.</p>



<p>It marks the first time scientists and clinicians can monitor, detect and define Parkinson’s disease using objective, biological terms—as opposed to clinical assessments and patient reports—since the condition was first characterized more than 200 years ago.</p>



<p>The technique, known as the alpha-synuclein seed amplification assay, analyzes the build-up of abnormal proteins linked to Parkinson’s, which evidence suggests happens in the disease’s early stages and before the loss of certain nerve cells that is the only other biological change signaling Parkinson’s.</p>



<p>The molecular test managed to successfully identify nearly 90% of people diagnosed with the disease, the researchers said, even before diagnosis or the onset of symptoms like smell loss or problems with movement.</p>



<p>Writing in a linked commentary, neurologists Daniela Berg and Christine Klein, who were not involved in the study and are based at Germany’s University Hospital Schleswig-Holstein, said the test finally “lays the foundation for a biological diagnosis of Parkinson’s disease” and lauded its ability to detect the condition before any other clinical or physical changes are detectable.</p>



<p>Dr. Kenneth Marek, who co-led the research and is a scientist at the Michael J. Fox Foundation’s Parkinson’s Progression Markers Initiative and the Institute for Neurodegenerative Disorders, said the test’s validation ”launches a new, biological era in Parkinson’s research” that will “transform” clinical care and the search for treatments, preventions and cures.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>Parkinson’s disease is a degenerative neurological disorder with no cure. It largely affects people over 50 years of age and, after Alzheimer’s, is the second-most common neurodegenerative disorder in the U.S. Treatments, which include brain implants and drugs, aim at addressing symptoms rather than slowing down or reversing the disease’s erosion of cognitive faculties, which vary between people but can include trouble walking, movement issues, tremors, memory loss, loss of smell and depression. In the U.S. alone, the cost of treating Parkinson’s is&nbsp;<a href="https://www.ninds.nih.gov/current-research/focus-disorders/focus-parkinsons-disease-research/parkinsons-disease-challenges-progress-and-promise" target="_blank" rel="noreferrer noopener">estimated</a>&nbsp;to be $14 billion annually, and as the population ages—the number of people diagnosed with Parkinson’s is projected to double by 2040—these costs are expected to climb.</p>



<h2 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h2>



<p>Actor Michael J. Fox, who was diagnosed with Parkinson’s decades ago and advocates research into the condition, said he is “deeply moved” by the breakthrough and grateful to all involved. Fox is the namesake to the country’s largest foundation supporting Parkinson’s research, including this work, and said “we weren’t casting about for fish — we were going after a whale” when the&nbsp;<a href="https://www.ppmi-info.org/" target="_blank" rel="noreferrer noopener">group</a>&nbsp;set its sights on biological markers of the disease. “Now, here we are,” Fox said, adding: “together we are making a cure for Parkinson’s inevitable.”</p>



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



<p>500,000. That’s how many Americans are diagnosed with Parkinson’s disease,&nbsp;<a href="https://www.ninds.nih.gov/current-research/focus-disorders/focus-parkinsons-disease-research/parkinsons-disease-challenges-progress-and-promise" target="_blank" rel="noreferrer noopener">according</a>&nbsp;to the National Institute of Neurological Disorders and Stroke. This figure likely underestimates the true prevalence of the condition, the institute said, as many people are likely to go undiagnosed or are misdiagnosed. Some experts believe as many as 1 million Americans have Parkinson’s, the group said.</p>



<h2 class="wp-block-heading" id="h-what-to-watch-for">WHAT TO WATCH FOR</h2>



<p>While a biological marker of Parkinson’s is a major breakthrough, the process of sampling cerebrospinal fluid is invasive and more onerous than many other standard medical tests. In order to harness the full potential of using the abnormal proteins to signal Parkinson’s, Berg and Kline said a “less invasive approach,” notably blood tests, will be needed to scale the approach. Nevertheless, they said the discovery “is a game-changer in Parkinson’s disease diagnostics, research, and treatment trials.”</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/kerryadolan/2023/03/28/exclusive-michael-j-fox-foundation-announces-winner-of-parkinsons-disease-research-prize-funded-by-billionaire-ken-griffin/?sh=2178c7107842">Exclusive: Michael J. Fox Foundation Announces Winner Of Parkinson’s Disease Research Prize Funded By Billionaire Ken Griffin</a>&nbsp;(Forbes)</p>



<p><a href="https://www.theguardian.com/science/2022/oct/07/the-scientists-working-to-defeat-parkinsons-disease" target="_blank" rel="noreferrer noopener">‘It’s hugely complex’: the scientists working to defeat Parkinson’s</a> (Guardian)</p>



<p><em><strong>By Robert Hart, Forbes Staff</strong></em></p>


Testing Tissue Samples

Game-Changing New Parkinson’s Test Paves Way For Treatments And Cure


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Moderna on Tuesday&nbsp;<a href="https://investors.modernatx.com/news/news-details/2023/Moderna-Announces-Clinical-and-Program-Updates-at-4th-Vaccines-Day/default.aspx" target="_blank" rel="noreferrer noopener">unveiled</a>&nbsp;plans to develop vaccines against tick-borne Lyme disease and norovirus, a notorious stomach bug, the Massachusetts-based biotech’s latest efforts to bolster its pipeline and expand its offerings ahead of a steep drop in demand for its Covid-19 vaccines.</p>



<p>Moderna announced plans to develop a Lyme vaccine.&nbsp;<small>GETTY IMAGES</small></p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>Moderna said it is developing multiple vaccines targeting&nbsp;<a href="https://www.cdc.gov/lyme/signs_symptoms/index.html" target="_blank" rel="noreferrer noopener">Lyme disease</a>, a serious infection spread by tick bites that can cause a range of symptoms including fever, facial paralysis, arthritis and rash.</p>



<p>There is no vaccine for Lyme disease on the market in the U.S.—the only approved shot was&nbsp;<a href="https://www.cdc.gov/lyme/prev/vaccine.html#:~:text=A%20vaccine%20for%20Lyme%20disease,2002%2C%20citing%20insufficient%20consumer%20demand." target="_blank" rel="noreferrer noopener">pulled</a>&nbsp;in 2002—and infections are rising, largely spurred on by&nbsp;<a href="https://www.nbcnews.com/health/health-news/14-percent-world-population-lyme-disease-rcna33279" target="_blank" rel="noreferrer noopener">climate</a>&nbsp;change&nbsp;<a href="https://www.independent.co.uk/climate-change/news/lyme-disease-climate-crisis-ticks-b2136409.html" target="_blank" rel="noreferrer noopener">expanding</a>&nbsp;the range of the ticks that carry it.</p>



<p>There are around 120,000 Lyme disease cases reported in the U.S. and Europe each year and Moderna said the proposed vaccines target key species of the tick-borne bacteria responsible for most infections in the regions.</p>



<p>Vaccinating against bacterial infections like Lyme is generally more complicated than protecting against viral infections like Covid, and the effort marks the first time Moderna has applied its mRNA technology to bacterial threats.</p>



<p>Moderna also announced plans to develop mRNA vaccines targeting norovirus, which is highly contagious and the leading cause of diarrheal disease globally.</p>



<h2 class="wp-block-heading" id="h-news-peg">NEWS PEG</h2>



<p>Moderna&nbsp;<a href="https://www.statnews.com/2016/09/13/moderna-therapeutics-biotech-mrna/" target="_blank" rel="noreferrer noopener">struggled</a>&nbsp;for years to commercialize its mRNA technology before achieving stellar success with its Covid-19 vaccine during the pandemic. With demand for those shots waning, it is under intense pressure to diversify its offerings. In addition to respiratory diseases like Covid, flu and RSV, Moderna has shots targeting various cancers,&nbsp;<a href="https://www.forbes.com/sites/roberthart/2023/02/22/moderna-hopes-to-build-on-mrna-tech-used-in-its-covid-shots-by-targeting-genetic-diseases/?sh=76b4f6452692">genetic&nbsp;</a>conditions and infectious diseases like HIV, herpes simplex virus and cytomegalovirus in the pipeline.</p>



<h2 class="wp-block-heading" id="h-what-to-watch-for">WHAT TO WATCH FOR</h2>



<p>Moderna said it expects six “major vaccine” launches in the “next few years.” On Tuesday, Moderna said it plans to seek regulatory approval for its latest RSV vaccine this quarter. The company pushed back its timeline for its flu shot, however, citing the need to gather more data.</p>



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



<p>$15 billion. That’s how much Moderna estimates the annual global market for Covid booster shots is worth. The company said it expects to make up to $9 billion in profit from sales of respiratory products, which include its Covid booster shots and possible upcoming shots for illnesses like RSV.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/roberthart/2023/02/22/moderna-hopes-to-build-on-mrna-tech-used-in-its-covid-shots-by-targeting-genetic-diseases/?sh=76b4f6452692">Moderna Hopes To Build On mRNA Tech Used In Its Covid Shots—By Targeting Genetic Diseases</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/ariannajohnson/2023/04/06/first-fda-approved-rsv-vaccines-expected-later-this-year-the-top-vaccines-and-their-effectiveness/?sh=7cb25dd65f81">First FDA-Approved RSV Vaccines Expected Later This Year: The Top Vaccines And Their Effectiveness</a> (Forbes)</p>



<p><a href="https://www.forbes.com/sites/roberthart/"></a><em><strong>By Robert Hart, Forbes Staff</strong></em></p>


COVID-19 Vaccination in Colombia

Vaccines For Lyme Disease And Norovirus? Moderna Working On Shots Targeting Tick-Borne Infection And Vomiting Bug


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>The price of bitcoin rose past $30,000 for the first time since June on Tuesday, as the cryptocurrency continues a rally that has seen its price nearly double since the start of the year.</p>



<p>Bitcoin breached the $30,000 mark for the first time since June 2022 on Tuesday.<small>GETTY IMAGES</small></p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>The price of the world’s most valuable cryptocurrency stood at $30,100 early on Tuesday morning, up more than 6.5% in the previous 24 hours.</p>



<p>The value of bitcoin has risen by more than 80% since the start of the year.</p>



<p>Ether, the world’s second-largest cryptocurrency, also saw its value climb on Tuesday as it moved past $1,900 for the first time since August.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>The price of bitcoin nosedived sharply last year after the crypto industry became mired in multiple scandals, including the collapse of the Terra/Luna tokens, the bankruptcies of crypto lender Celsius, and crypto exchange FTX. The reason behind bitcoin’s current recovery is partially attributed to the expectation that upcoming inflation numbers could prompt a pause in the Federal Reserve’s ongoing rate hikes,&nbsp;<a href="https://www.cnbc.com/2023/04/11/bitcoin-tops-30000-for-the-first-time-since-june.html" target="_blank" rel="noreferrer noopener">according to</a>&nbsp;CNBC. In addition to this, Bloomberg&nbsp;<a href="https://www.bloomberg.com/news/articles/2023-04-11/bitcoin-btc-climbs-to-30-000-for-the-first-time-since-june?srnd=premium-asia" target="_blank" rel="noreferrer noopener">reports</a>, the cryptocurrency’s current lower volume of trading of the cryptocurrency may also be magnifying the surge in prices.</p>



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



<p>$68,789.63. This was the price of bitcoin in November 2021, when its value was at an all-time high.</p>



<p><a href="https://www.forbes.com/sites/siladityaray/"></a><em><strong>By Siladitya Ray, Forbes Staff</strong></em></p>


Digital Composite Image Of Cropped Hands Using Computer Keyboard By Bitcoin Icons

Bitcoin Breaches $30,000 For The First Time In Ten Months


<p><strong>The AI based tool can create &#8220;cutouts&#8221; or segments of different parts of an image. This comes handy while editing photos or while analyzing imagery for biological or security purposes. <small>META AI</small></strong></p>



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
<h3 class="wp-block-heading" id="h-the-announcement-comes-as-the-social-media-giant-increasingly-diverts-its-attention-from-creating-a-virtual-reality-based-metaverse-to-embed-ai-features-across-its-platforms-like-instagram-facebook-messenger-and-whatsapp">The announcement comes as the social media giant increasingly diverts its attention from creating a virtual reality-based Metaverse to embed AI features across its platforms like Instagram, Facebook, Messenger and WhatsApp</h3>
</blockquote>



<hr class="wp-block-separator has-alpha-channel-opacity"/>



<p>Editing photos, analyzing surveillance footage and understanding the parts of a cell. These tasks have one thing in common: you need to be able to identify and separate different objects within an image. Traditionally, researchers have had to start from scratch each time they want to analyze a new part of an image.</p>



<p>Meta aims to change this laborious process by being the one-stop-shop for researchers and web developers working on such problems. On Wednesday, the company released an AI model, called “Segment Anything Model” or “SAM” through which users can create “cutouts” or segments of any item in an image by clicking on a point or drawing a box around the object. The tool can be used in research purposes, for creative editing or even to make sense of objects while wearing a VR headset by making it faster and more efficient to carve up different parts of an image.</p>



<p>The tech company launched the browser-based tool to the public and also open sourced its computer vision model, which it claims is trained on “the largest segmentation dataset” of 1.1 billion segmentation masks (“masks” are different parts of an image) and 11 million images licensed from a large photo company. Meta did not disclose which company it licensed the images from. Meta AI, the artificial intelligence research arm of the social media giant, worked with 130 human annotators based in Kenya to create the dataset, which was made through a combination of manual and automatic labeling of a billion parts of millions of images.</p>



<p>Object recognition and computer vision technologies have been around for years and are already integrated in various devices such as&nbsp;<a href="https://techcrunch.com/2020/03/11/visualone-smartens-up-home-security-cameras-with-object-and-action-recognition/" target="_blank" rel="noreferrer noopener">surveillance cameras</a>&nbsp;and&nbsp;<a href="https://web.stanford.edu/class/cs231a/prev_projects_2016/deep-drone-object__2_.pdf" target="_blank" rel="noreferrer noopener">drones</a>.&nbsp;<a href="https://aws.amazon.com/blogs/industries/make-convenience-stores-even-more-convenient-with-amazons-just-walk-out-technology-and-amazon-one/" target="_blank" rel="noreferrer noopener">Amazon</a>&nbsp;stores for example use object recognition to detect the items you put into your basket and autonomous vehicles use it to&nbsp;<a href="https://www.forbes.com/sites/alanohnsman/2023/02/28/luminar-plans-to-put-lidar-first-created-for-avs-into-millions-of-regular-cars/?sh=82bf66743820">perceive</a>&nbsp;their surroundings. Contemporary startups like Runway and incumbents like Adobe have commercialized their ability to use AI to detect and select different objects within an image for their creative users. As snazzy generative AI chatbots have emerged, the goal for AI researchers at Meta was to merge the advancement in AI foundational models with the dormant realm of computer vision technologies.</p>



<p>“I wouldn&#8217;t say that this is a new area of technology. Object segmentation already exists so I wouldn&#8217;t say this is a new capability. Fundamentally, I think their approach of using foundational models is new and the size of the dataset they&#8217;re training on could be novel,” says Paul Powers, CEO and founder of Physna, a search engine for 3D objects.</p>



<p>But what Meta hopes is that by releasing these tools more broadly, it’ll encourage users to build on top of their generalized model for more specific use cases in fields like biology and agriculture.</p>



<p>The announcement comes simultaneously as Meta&nbsp;<a href="https://asia.nikkei.com/Business/Technology/Meta-to-debut-ad-creating-generative-AI-this-year-CTO-says" target="_blank" rel="noreferrer noopener">reportedly</a>&nbsp;plans to use generative AI for advertisements across Instagram and Facebook. Not wanting to miss out on the buzz around AI, in late February, CEO Mark Zuckerberg&nbsp;<a href="https://www.facebook.com/story.php?story_fbid=pfbid0vvSykpAEXpHHaKKyWMZ423TCq3qQDKtLu7m4XiRfUEYRrxzwpdewh3yYepnc1Bsrl&amp;id=4&amp;mibextid=qC1gEa&amp;_rdr" target="_blank" rel="noreferrer noopener">announced</a>&nbsp;that he is creating a new product team solely focused on building generative AI tools like artificial personas, Instagram filters and chat-based features in WhatsApp and Instagram. Zuckerberg reportedly spends most of his time with the new AI team.</p>



<p>The SAM tool is built for those who don’t have the AI infrastructure or the data capacity to create their own models to “segment” or identify different components of an image, say Meta AI researchers Alexander Kirillov and Nikhila Ravi. “This is happening in real time in the browser and that makes this model much more accessible to so many more people because they don&#8217;t need to be able to run a lot of stuff on GPU…We can enable a lot more edge use cases that some other methods might not allow,” Ravi says.</p>



<p>But there are limitations of a computer vision model trained on a database of two-dimensional images, says Powers. For example, for the tool to detect and select a remote held upside down, it would need to be trained on different orientations of the same object. Models trained on 2D images won’t help detect images that are partly covered or partially exposed, he says. This means it wouldn’t accurately identify non-standardized objects through an AR/VR headset or it wouldn’t detect partially covered objects in public spaces if used by an autonomous vehicle manufacturer.</p>



<p>For the company, which rebranded itself from Facebook to Meta in late 2021 and inked its commitment to the Metaverse, the most obvious use for this object detection tool is in its virtual reality spaces such as its online VR game Horizon Worlds. Kirillov and Ravi say that their object detection tool can be used for “gaze-based” detection of objects through virtual reality and augmented reality headsets.</p>



<p>The model can detect unknown objects and work across domains with underwater, microscopic, aerial and agricultural images. Kirillov says he was inspired to create a generalized image segmenting model while talking to PhD researchers. “I was giving a presentation about segmentation to some natural scientists in Berkeley and people were like ‘Okay sure, this is all cool, but I need to like count and identify trees in the photos I’ve collected for my research about fires in California,’ and so this model can do that for them,” Kirillov tells <em>Forbe</em>s.</p>



<p><a href="https://www.forbes.com/sites/rashishrivastava/"></a><strong><em>By Rashi Shrivastava, Forbes Staff</em></strong></p>


In this photo illustration a Facebook logo seen displayed on

Meta’s New AI Tool Makes It Easier For Researchers To Analyze Photos


<p>Most Americans—male or female—don’t ask for higher compensation when negotiating a job offer, even if they know they should. A new&nbsp;<a href="https://www.pewresearch.org/fact-tank/2023/04/04/when-negotiating-starting-salaries-most-us-women-and-men-dont-ask-for-higher-pay/" target="_blank" rel="noreferrer noopener">survey</a>&nbsp;offers a reminder why: According to the Pew Research Center, some two-thirds of respondents who made attempts to negotiate starting salaries said they got more than was originally offered, though the outcomes were somewhat less favorable for women.</p>



<p>The finding, part of a&nbsp;<a href="https://www.pewresearch.org/social-trends/2023/03/30/how-americans-view-their-jobs/" target="_blank" rel="noreferrer noopener">broader survey</a>&nbsp;Pew recently released on how Americans view their jobs and&nbsp;<a href="https://www.pewresearch.org/fact-tank/2023/03/30/about-a-third-of-us-workers-who-can-work-from-home-do-so-all-the-time/" target="_blank" rel="noreferrer noopener">how many continue to work remotely</a>, found that among all workers who did ask for higher pay, 28% said they were given the new amount they requested. Another 38% said they were offered more than what was first suggested but less than they requested, with the remainder only getting the initial offer.</p>



<p>That means about 66% of job candidates got better starting salary offers after asking for more. “That does seem higher than you might expect,” says Kim Parker, director of social trends research at Pew Research Center. “We had never seen the question asked before.”</p>



<p>Yet first, of course, people have to ask. Pew’s survey, which queried 5,188 U.S. workers who are employed either full- or part-time and aren’t self-employed, found that just 30% said they recalled asking for higher pay the last time they were hired for a job. While men were slightly more likely to say they did than women (32% versus 28%), and the gap is statistically significant, “it’s not huge,” said Parker. “Based on what you hear and read about this issue, we thought we might see a bigger difference.”</p>



<p>That finding, combined with others that show a bigger gender difference on other aspects of salary negotiation, prompted Parker to suggest releasing the findings separately from a report Pew shared last week. The&nbsp;<a href="https://www.forbes.com/sites/jenamcgregor/2023/03/30/full-time-remote-work-is-falling-but-still-five-times-pre-pandemic-levels-survey-finds/?sh=41bab2f12946">earlier report found</a>&nbsp;that about 51% of U.S. workers are highly satisfied with their job and that about a third of workers in jobs that can be remote are still working from home full-time.</p>



<p>The additional data released does show a much wider divergence on how comfortable men and women feel about asking for higher starting salaries and how successful they were in their efforts. Only 33% of men said they didn’t feel comfortable asking for higher pay, compared with 42% of women.</p>



<p>Meanwhile, there was also a big difference in the results women saw from their requests versus men. When broken out by gender, 38% of women who asked for a higher starting salary said they did not get more pay, while only 31% of men who negotiated were stuck with their initial offer.</p>



<p>Pew’s results appear to underscore that the issue is less that women disproportionately don’t ask for higher salaries—but that they&nbsp;<a href="https://www.forbes.com/sites/kimelsesser/2021/01/21/why-women-fall-short-in-negotiations-its-not-lack-of-skill/?sh=4f10fee95d02">face obstacles when they do make those requests</a>&nbsp;or worry about how they will be&nbsp;<a href="https://www.forbes.com/sites/hbsworkingknowledge/2021/07/29/salary-negotiations-a-catch-22-for-women/?sh=7ac201eb2124">perceived when they negotiate</a>.</p>



<p>Still, the relatively narrower difference between men and women who asked for higher starting salaries could be a sign the drumbeat about pay equity is having an impact, Parker says. “I wonder if the lack of a big gender gap [on the question about negotiating or not] means we’re starting to see the effects” of focus on the issue, she says, noting Pew doesn’t have historical data for these questions. “It’s nice to have some numbers to put to this.”</p>



<p>Meanwhile, it’s unclear what impact <a href="https://www.forbes.com/sites/jenamcgregor/2023/03/14/these-are-the-jobs-least-likely-to-include-pay-ranges-in-employment-ads/?sh=c6ae52811a46">pay transparency</a> laws that require employers to post pay ranges in job ads, which have gone into effect in places such as Colorado, <a href="https://www.forbes.com/sites/jenamcgregor/2023/01/12/only-half-of-tech-firms-comply-with-californias-pay-law-says-new-site-but-that-number-is-growing-rapidly/?sh=7abb96756eda">California</a> and <a href="https://www.forbes.com/sites/jenamcgregor/2022/03/15/how-nycs-pay-transparency-law-could-have-a-national-impact-on-the-pay-gap-and-your-job-search/?sh=605b51877706">New York City</a>, are having. But it’s possible that getting out more information on the pay ranges companies are willing to pay could get that share of employees that’s willing to negotiate—both male and female—a little higher over time.</p>



<p><a href="https://www.forbes.com/sites/jenamcgregor/"></a><strong><em>By Jena McGregor, Forbes Staff</em></strong></p>


Executive outside office with office equipment

Asking For A Bigger Starting Salary Pays Off Most Of The Time: Survey


<h2 class="wp-block-heading">TOPLINE</h2>



<p>Just one day after job openings plummeted to a nearly two-year low, payroll processor ADP reported that private employers added fewer jobs than expected last month as they also started to scale back on wage increases—adding to concerns the economy could face a worse-than-feared recession as the Federal Reserve works to temper stubbornly high inflation.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>Private employment increased by 145,000 jobs from February to March as industries such as finance, professional services and manufacturing lost tens of thousands of jobs apiece—far fewer than the 261,000 new jobs economists had projected, according to the ADP’s National Employment Report&nbsp;<a href="https://adp-ri-nrip-static.adp.com/artifacts/us_ner/20230405/ADP_NATIONAL_EMPLOYMENT_REPORT_Press_Release_2023_03%20FINAL.pdf?_ga=2.235361481.93568635.1680697008-437291998.1680697008" target="_blank" rel="noreferrer noopener">released</a>&nbsp;Wednesday.</p>



<p>The latest data is &#8220;one of several signals that the economy is slowing,&#8221; says ADP chief economist Nela Richardson, who notes pay growth is starting to inch down after plateauing for three months as employers pull back from a year of strong hiring.</p>



<p>ADP’s report comes one day after the Labor Department reported the number of job openings in January fell below 10 million for the first time since June 2021—falling by 632,000 on a monthly basis and down from a record high of nearly 12 million one year ago.</p>



<p>In another sign of cooling, job growth last month was skewed to lower-paying industries such as leisure and hospitality in addition to smaller firms, while employment in large companies was nearly flat, notes Comerica Bank chief economist Bill Adams.</p>



<p>“The economy is unwell, and it could get worse before it gets better,” says EY chief economist Gregory Daco, pointing out that hiring efforts have scaled back “notably across numerous sectors” in a sign monthly job growth—as set to be reported by the Labor Department on Friday—could fall to its lowest level since December 2020.</p>



<h2 class="wp-block-heading" id="h-what-to-watch-for">WHAT TO WATCH FOR</h2>



<p>The Labor Department releases its monthly jobs report for March on Friday. On average, economists expect the labor market added about 238,000 jobs last month after a better-than-expected 311,000 new jobs were created in February. However, the recent signs of softness could pull those projections down. Comerica projects the economy added about 200,000 jobs in March, while the unemployment rate ticked up to 3.7% from 3.6% in February and a 54-year low of 3.4% in January.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>Amid waves of&nbsp;<a href="https://www.forbes.com/sites/brianbushard/2023/04/03/2023-layoff-tracker-hyland-software-laying-off-1000-staff-as-mcdonalds-reportedly-cuts-hundreds/">layoffs</a>&nbsp;continuing to hit some of the nation’s largest employers, the unemployment rate unexpectedly ticked up in February despite the labor market gaining significantly more jobs than expected. “It’s no longer accurate to say without reservation that the labor market is a bright spot in the economy,” Glassdoor chief economist Aaron Terrazas said after the latest jobs report, noting the waves of recently announced layoffs could ultimately paint a grim picture of the labor market’s trajectory.</p>



<h2 class="wp-block-heading" id="h-tangent">TANGENT</h2>



<p>Though they’ve rallied from recent bear-market lows, stocks have struggled this week as investors worry the latest labor-market data could indicate the Fed may not be able to curb inflation without tipping the economy into a recession. Consumer prices rose 6% on an annual basis in February, according to Labor Department&nbsp;<a href="https://www.bls.gov/news.release/pdf/cpi.pdf" target="_blank" rel="noreferrer noopener">data</a>—down from a 40-year high of 9.1% in June but still far higher than the Fed’s historical inflation target of 2%. Meanwhile, the central bank has already pushed interest rates up to the highest level in 15 years, fueling a housing market&nbsp;<a href="https://www.forbes.com/sites/brianbushard/2023/03/21/housing-market-home-prices-post-first-yearly-decrease-in-11-years-as-sales-jump/">correction</a>, stock market downturn and just last month, a batch of high-profile bank&nbsp;<a href="https://www.forbes.com/sites/dereksaul/2023/04/04/jpmorgans-dimon-effects-of-bank-failures-will-be-felt-for-years-to-come/">failures</a>.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/jonathanponciano/2023/03/09/jobless-claims-unexpectedly-rise-to-2023-high-as-fed-hikes-threaten-new-waves-of-layoffs/">Jobless Claims Unexpectedly Rise To 2023 High</a><em>&nbsp;(Forbes)</em></p>



<p><a href="https://www.forbes.com/sites/brianbushard/2023/04/03/2023-layoff-tracker-hyland-software-laying-off-1000-staff-as-mcdonalds-reportedly-cuts-hundreds/">2023 Layoff Tracker: Walmart Cuts 2,000 Workers</a> <em>(Forbes)</em></p>



<p><a href="https://www.forbes.com/sites/jonathanponciano/"></a><em><strong>By Jonathan Ponciano, Forbes Staff</strong></em></p>


gettyimages-74579974-170667a

‘Economy Is Unwell’: Job Growth Unexpectedly Slows As Employers Scale Back Wages And Freeze Hiring


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Twitter introduced a new label for accounts with blue checkmarks Sunday that removes any distinction between those paid for by monthly subscribers and accounts verified by Twitter before CEO Elon Musk’s changes—as Twitter was expected to start removing ‘legacy’ checkmarks over the weekend.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>All accounts with a blue checkmark now display a notice that reads: “This account is verified because it’s subscribed to Twitter Blue or is a legacy verified account.”</p>



<p>Twitter previously had separate labels for accounts with a checkmark that distinguished “legacy verified accounts” from accounts subscribed to Twitter Blue.</p>



<p>Twitter has not released a statement on the change, but Musk&nbsp;<a href="https://twitter.com/elonmusk/status/1642643460883890178" target="_blank" rel="noreferrer noopener">reacted</a>&nbsp;to a tweet about it with a relieved face emoji.</p>



<p>The change has elicited mixed reactions from users, with some users&nbsp;<a href="https://twitter.com/eddyburback/status/1642641613687234561" target="_blank" rel="noreferrer noopener">pointing out</a>&nbsp;that this could make potential impersonator accounts appear more convincing.</p>



<p>The change comes a day after Twitter was expected to&nbsp;<a href="https://twitter.com/verified/status/1639029459557679104" target="_blank" rel="noreferrer noopener">remove</a>&nbsp;the checkmarks of legacy verified accounts that do not subscribe to Twitter Blue.</p>



<h2 class="wp-block-heading" id="h-surprising-fact">SURPRISING FACT</h2>



<p>Although Twitter&#8217;s latest change makes it a lot harder to distinguish between users whose identity was actually verified by Twitter and those who received the badge by paying $8 a month, many users have already posted about workarounds. Twitter’s search function&nbsp;<a href="https://twitter.com/RachelTobac/status/1642716930699317249" target="_blank" rel="noreferrer noopener">still allows</a>&nbsp;users to filter legacy verified and paid verified accounts, while there are some browser extensions that still allow users to distinguish between the two types of accounts.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>The latest change comes a day after the company was expected to start stripping legacy verified accounts of their blue checkmarks. It’s not clear why Twitter has not yet done this, but the&nbsp;<em>Washington Post</em>&nbsp;<a href="https://www.washingtonpost.com/technology/2023/03/31/twitter-verification-checkmark-ending/" target="_blank" rel="noreferrer noopener">reported</a>&nbsp;that the platform lacks an automated solution to strip all legacy verified accounts of their badges, as the original verification process used to be manual and relied on an Excel-like spreadsheet. Musk also&nbsp;<a href="https://twitter.com/MattBinder/status/1642401198731935747" target="_blank" rel="noreferrer noopener">tweeted</a>&nbsp;and later deleted Sunday that the platform was offering a “grace” period to allow people to sign up for Twitter Blue. In the tweet, Musk warned that users who say they won’t pay for Twitter Blue will have their check marks removed immediately. The billionaire then followed through with his threat by&nbsp;<a href="https://www.forbes.com/sites/marisadellatto/2023/04/02/musk-appears-to-revoke-ny-times-blue-checkmark-for-refusing-to-buy-paid-twitter-subscription/?sh=14986d32719f">revoking</a>&nbsp;the verification badge from the&nbsp;<em>New York Times</em>’ primary handle after a user pointed out that the newspaper previously stated it would not pay.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/marisadellatto/2023/04/02/musk-appears-to-revoke-ny-times-blue-checkmark-for-refusing-to-buy-paid-twitter-subscription/?sh=14986d32719f">Musk Appears To Revoke N.Y. Times’ Blue Checkmark For Refusing To Buy Paid Twitter Subscription</a>&nbsp;(Forbes)</p>



<p><a href="https://www.washingtonpost.com/technology/2023/03/31/twitter-verification-checkmark-ending/" target="_blank" rel="noreferrer noopener">Twitter’s blue check mark was loved and loathed. Now it’s pay for play.</a>&nbsp;(Washington Post)</p>



<p><a href="https://www.nytimes.com/2023/03/31/technology/personaltech/twitter-blue-check-musk.html?referringSource=articleShare" target="_blank" rel="noreferrer noopener">Twitter’s Blue Check Apocalypse Is Upon Us. Here’s What to Know.</a> (New York Times)</p>



<p><a href="https://www.forbes.com/sites/siladityaray/"></a><strong><em>By Siladitya Ray, Forbes Staff</em></strong></p>


Twitter And Elon Musk Photo Illustrations

Twitter’s New Blue Checkmark Label Removes Distinction Between Paying Subscribers And ‘Legacy Verified’ Users


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Since the release of powerful AI tools ChatGPT and Google’s Bard, discussions about whether “robots” will replace humans have grown, and studies show some jobs—surprisingly, some traditionally white-collar work—may be heavily impacted.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>Generative AI, a form of artificial intelligence capable of creating text or other content in response to user prompts, has quickly gained popularity following the&nbsp;<a href="https://www.forbes.com/sites/ariannajohnson/2022/12/07/heres-what-to-know-about-openais-chatgpt-what-its-disrupting-and-how-to-use-it/?sh=4d9e6bff2643">public launch</a>&nbsp;of OpenAI’s ChatGPT.</p>



<p>Since its November 2022 release, people have used AI chatbot ChatGPT for an array of this, including&nbsp;<a href="https://twitter.com/corry_wang/media?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1598176074604507136%7Ctwgr%5Ecef554f441b37a4eaf0dc695f6019e8bb50b0a82%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.theverge.com%2F23488017%2Fopenai-chatbot-chatgpt-ai-examples-web-demo" target="_blank" rel="noreferrer noopener">writing</a>&nbsp;college-level essays and&nbsp;<a href="https://twitter.com/amasad/status/1598089698534395924?s=46&amp;t=0W_zYWGTGv080PIf8DNJWw" target="_blank" rel="noreferrer noopener">generating</a>&nbsp;code.​​</p>



<p>The AI race heated up after Google released&nbsp;<a href="https://www.forbes.com/sites/ariannajohnson/2023/03/21/bard-vs-chatgpt-the-major-difference-between-the-ai-chat-tools-explained/?sh=21e51b6d684a">Bard</a>&nbsp;on March 21, a ChatGPT competitor and a separate entity from the company’s Google search engine.</p>



<p>A recent&nbsp;<a href="https://www.key4biz.it/wp-content/uploads/2023/03/Global-Economics-Analyst_-The-Potentially-Large-Effects-of-Artificial-Intelligence-on-Economic-Growth-Briggs_Kodnani.pdf" target="_blank" rel="noreferrer noopener">report</a>&nbsp;from Goldman Sachs estimates around 300 million jobs could be affected by generative AI, meaning 18% of work globally could be automated—with more advanced economies heavily impacted than emerging markets.</p>



<p>The report also predicts two-thirds of jobs in the U.S. and Europe “are exposed to some degree of AI automation,” and around a quarter of all jobs could be performed by AI entirely.</p>



<p>Researchers from the University of Pennsylvania and OpenAI&nbsp;<a href="https://arxiv.org/pdf/2303.10130.pdf" target="_blank" rel="noreferrer noopener">found</a>&nbsp;some educated white-collar workers earning up to $80,000 a year are the most likely to be affected by workforce automation.</p>



<p>According to the report, jobs in agriculture, mining and manufacturing are the least exposed to generative AI, while jobs in the information processing industries, like IT, are the most exposed because jobs that use &#8220;programming and writing skills&#8221; are more closely related to GPT’s capabilities.</p>



<p>Generative AI isn’t perfect, both OpenAI and Google admit their program sometimes gives incorrect responses and has other flaws, like ChatGPT’s&nbsp;<a href="https://openai.com/blog/chatgpt/" target="_blank" rel="noreferrer noopener">knowledge base</a>&nbsp;that ends in 2021, and Bard’s limited&nbsp;<a href="https://help.openai.com/en/articles/6787051-does-chatgpt-remember-what-happened-earlier-in-the-conversation" target="_blank" rel="noreferrer noopener">conversation retention</a>.</p>



<h2 class="wp-block-heading" id="h-jobs-most-impacted">JOBS MOST IMPACTED</h2>



<ul>
<li><strong>Finance and banking:</strong>&nbsp;Banks have already begun incorporating AI into their business models. 56% of banks claim they’ve implemented the technology into their business domains like management, and 52% claim they’ve used it for revenue generation,&nbsp;<a href="https://www.businessinsider.com/ai-in-banking-report" target="_blank" rel="noreferrer noopener">according</a>&nbsp;to Cambridge Centre for Alternative Finance and the World Economic Forum. Abhijit Bose, a Capital One senior vice president,&nbsp;<a href="https://www.washingtonpost.com/technology/interactive/2023/ai-jobs-workplace/" target="_blank" rel="noreferrer noopener">told</a>&nbsp;the&nbsp;<em>Washington Post&nbsp;</em>AI will potentially “monitor transactions” to give detailed financial advice on saving and spending. Morgan Stanley has&nbsp;<a href="https://openai.com/customer-stories/morgan-stanley" target="_blank" rel="noreferrer noopener">begun using</a>&nbsp;OpenAI-powered chatbots to organize its wealth management database, helping advisers pull up data and research more efficiently. The World Economic Forum also&nbsp;<a href="https://www.weforum.org/agenda/2018/09/4-ways-ai-artificial-intelligence-impact-financial-job-market/" target="_blank" rel="noreferrer noopener">predicts</a>&nbsp;AI will bring three changes to the finance division: job cuts, job creation and increased efficiency.​​ In addition, they estimate by 2027, 23% of jobs in China’s financial sector will be replaced by AI.</li>



<li><strong>Media and marketing:</strong>&nbsp;Kristian Hammond, chief scientist of Natural Sciences&nbsp;<a href="https://www.bbc.com/news/technology-33327659" target="_blank" rel="noreferrer noopener">told</a>&nbsp;the BBC in 15 years, “90% of news will be written by machines.” Natural Sciences has a software called&nbsp;<a href="https://quillbot.com/" target="_blank" rel="noreferrer noopener">Quill</a>, an AI paraphrasing tool that writes company reports ahead of earning announcements. German publisher Axel Springer&nbsp;<a href="https://www.axelspringer.com/en/ax-press-release/axel-springer-presents-future-strategy-for-bild-and-welt" target="_blank" rel="noreferrer noopener">announced</a>&nbsp;in February plans to transition into “digital only,” which includes job cuts in favor of “modern technology” and automation. Reporters for different media outlets like&nbsp;<a href="https://www.businessinsider.com/i-asked-chatgpt-to-write-insider-story-it-was-convincing-2022-12" target="_blank" rel="noreferrer noopener">Business Insider</a>,&nbsp;<a href="https://www.cnet.com/tech/cnet-is-testing-an-ai-engine-heres-what-weve-learned-mistakes-and-all/" target="_blank" rel="noreferrer noopener">CNET</a>&nbsp;and&nbsp;<a href="https://www.cnbc.com/2023/01/26/chatgpt-wrote-part-of-this-article-it-didnt-go-great.html" target="_blank" rel="noreferrer noopener">CNBC</a>&nbsp;have used ChatGPT to write news stories, though they have often been criticized for containing false information. In January, BuzzFeed CEO Jonah Peretti announced the company would rely on ChatGPT to personalize content and enhance quizzes, much to the employees’ dismay,&nbsp;<a href="https://www.wsj.com/articles/buzzfeed-to-use-chatgpt-creator-openai-to-help-create-some-of-its-content-11674752660" target="_blank" rel="noreferrer noopener">according</a>&nbsp;to the&nbsp;<em>Wall Street Journal</em>. In the marketing world, 84% of marketers reported using AI in 2020, a stark jump from 29% in 2019,&nbsp;<a href="https://www.salesforce.com/blog/top-marketing-trends-navigate-change/" target="_blank" rel="noreferrer noopener">according</a>&nbsp;to Salesforce research. High-performing marketing teams averaged around seven different uses of AI and machine learning in 2020, and over half planned on increasing their use in 2021, the report also claims.</li>



<li><strong>Legal services:</strong>&nbsp;An attorney used ChatGPT to publish a 14-page&nbsp;<a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4294197" target="_blank" rel="noreferrer noopener">legal paper</a>&nbsp;published in&nbsp;<em>Social Science Research Network</em>&nbsp;on a plethora of prompts, including creating a contract, explaining why the Supreme Court’s decision on same-sex marriage shouldn’t be appealed and developing deposition questions. The AI bot has the potential “to address access to justice questions” and make legal services available to those who can’t afford it, Andrew Perlman, the author of the paper and a Suffolk University Law School Dean&nbsp;<a href="https://www.reuters.com/legal/transactional/will-chatgpt-make-lawyers-obsolete-hint-be-afraid-2022-12-09/" target="_blank" rel="noreferrer noopener">told</a>&nbsp;Reuters. Low-income Americans don’t get enough or any legal help for 92% of their civil legal problems, according to a 2022&nbsp;<a href="https://justicegap.lsc.gov/resource/executive-summary/" target="_blank" rel="noreferrer noopener">report</a>&nbsp;by Legal Services Corp. Some have already begun incorporating AI into legal service, like startup&nbsp;<a href="https://www.lawgeex.com/" target="_blank" rel="noreferrer noopener">Lawgeex</a>, which has a service that reads contracts faster than, and what they claim to be more accurate than humans.</li>
</ul>



<h2 class="wp-block-heading" id="h-jobs-least-impacted">JOBS LEAST IMPACTED</h2>



<ul>
<li><strong>Manufacturing and factory workers:</strong>&nbsp;This industry has been undergoing automation for a while, with General Motors credited as the first major manufacturer to implement robotics in their assembly lines after the introduction of&nbsp;<a href="https://www.historyofinformation.com/detail.php?entryid=4071" target="_blank" rel="noreferrer noopener">UNIMATE</a>&nbsp;in 1961. However, generative AI may speed up the process. For example, Elon Musk&nbsp;<a href="https://www.reuters.com/business/autos-transportation/elon-musk-faces-skeptics-tesla-gets-ready-unveil-optimus-robot-2022-09-20/" target="_blank" rel="noreferrer noopener">unveiled</a>&nbsp;the Tesla Bot, or Optimus, an autonomous android made to replace humans in dangerous, repetitive jobs. Musk plans to place these bots in his Tesla factories and eventually expand to millions around the world. According to an MIT and Boston University&nbsp;<a href="https://news.mit.edu/2020/how-many-jobs-robots-replace-0504" target="_blank" rel="noreferrer noopener">report</a>, AI is expected to replace as many as two million manufacturing workers by 2025. “Our evidence shows that robots increase productivity,” the researchers said. A Chinese factory in Dongguan City&nbsp;<a href="https://futurism.com/2-production-soars-for-chinese-factory-who-replaced-90-of-employees-with-robots" target="_blank" rel="noreferrer noopener">replaced</a>&nbsp;90% of its workforce with machines, resulting in a 250% increase in productivity and an 80% decrease in defects. A job that took 650 human workers to complete now takes about 60 robots and 60 humans, the company claims.</li>



<li><strong>Agriculture:&nbsp;</strong><a href="https://www.ers.usda.gov/data-products/ag-and-food-statistics-charting-the-essentials/ag-and-food-sectors-and-the-economy/" target="_blank" rel="noreferrer noopener">According</a>&nbsp;to the U.S. Department of Agriculture, in 2021 there were 21.1 million full- and part-time jobs in the food and agriculture sectors, making up 10.5% of the labor force. Agriculture is&nbsp;<a href="https://fletcher.tufts.edu/news-events/news/fundamental-profession" target="_blank" rel="noreferrer noopener">considered</a>&nbsp;one of the world’s oldest professions and has stood the test of time, lasting through four separate industrial revolutions.&nbsp;<a href="https://www.washingtonpost.com/technology/2021/04/22/tech-in-farming-growth/" target="_blank" rel="noreferrer noopener">According</a>&nbsp;to the&nbsp;<em>Washington Post,&nbsp;</em>many small farms don’t produce enough profit to invest in more machinery, though larger farms have&nbsp;<a href="https://builtin.com/robotics/farming-agricultural-robots%5C" target="_blank" rel="noreferrer noopener">already begun</a>&nbsp;the process of automation for strenuous tasks. In the U.S., family farms&nbsp;<a href="https://www.usda.gov/media/blog/2020/01/23/look-americas-family-farms" target="_blank" rel="noreferrer noopener">make up</a>&nbsp;98% of all farms, with a majority being small family farms that operate about half of the country’s farm land. However, the National Institute of Food and Agriculture does&nbsp;<a href="https://www.nifa.usda.gov/artificial-intelligence" target="_blank" rel="noreferrer noopener">fund</a>&nbsp;AI research, education and extension activities in the areas of natural resources and environments, agricultural systems and engineering and economics and rural communities.</li>



<li><strong>Healthcare:</strong>&nbsp;A&nbsp;<a href="https://pubmed.ncbi.nlm.nih.gov/25626223/" target="_blank" rel="noreferrer noopener">study</a>&nbsp;published in the&nbsp;<em>International Journal of Health Services&nbsp;</em>found on average, psychiatrists spend 20.3% of their day on paperwork, followed by internists and general practitioners at 17.3%. Mundane administrative tasks like this can be automated, but other areas probably won’t need AI. David Dranove, a professor at Northwestern University’s Kellogg Institute&nbsp;<a href="https://insight.kellogg.northwestern.edu/article/will-ai-replace-doctors" target="_blank" rel="noreferrer noopener">told</a>&nbsp;the Kellogg Insight most adults want to hear about their health from a human, and there’s “a need for compassion…that AI is unable to contribute.” An Oxford University&nbsp;<a href="https://www.oxfordmartin.ox.ac.uk/downloads/academic/The_Future_of_Employment.pdf" target="_blank" rel="noreferrer noopener">report</a>&nbsp;predicts medical transcriptionists, medical records, medical secretaries and health information technicians are the most likely jobs in the field to be automated, not actual providers. This extends into mental health as well—the&nbsp;<em>Washington Post&nbsp;</em>has&nbsp;<a href="https://www.washingtonpost.com/technology/2023/02/03/ai-mental-health-therapy/" target="_blank" rel="noreferrer noopener">tried and failed</a>&nbsp;at creating an AI version of infamous psychologist, Sigmund Freud.</li>
</ul>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/ariannajohnson/2022/12/07/heres-what-to-know-about-openais-chatgpt-what-its-disrupting-and-how-to-use-it/?sh=6114bd5a2643">Here’s What To Know About OpenAI’s ChatGPT—What It’s Disrupting And How To Use It</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/ariannajohnson/2023/03/21/bard-vs-chatgpt-the-major-difference-between-the-ai-chat-tools-explained/?sh=21e51b6d684a">Bard Vs. ChatGPT: The Major Difference Between The AI Chat Tools, Explained</a>&nbsp;(Forbes)</p>



<p><a href="https://www.wsj.com/articles/buzzfeed-to-use-chatgpt-creator-openai-to-help-create-some-of-its-content-11674752660" target="_blank" rel="noreferrer noopener">BuzzFeed To Use ChatGPT Creator OpenAI To Help Create Quizzes And Other Content</a> (Wall Street Journal)</p>



<p><strong><em>By Arianna Johnson, Forbes Staff</em></strong></p>


Author: Forbes

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