December 25, 2024
Tech News
Malaysia has launched a national AI office to develop policies and regulations aimed at establishing the country as a regional hub for AI development. The office will focus on strategic planning, research, and regulatory oversight, with plans to create a code of ethics and an AI regulatory framework within its first year. The initiative is supported by partnerships with major tech companies like Amazon, Google, and Microsoft, which have invested significantly in Malaysia’s digital infrastructure.
The tech industry continues to face significant layoffs in 2024, with over 130,000 job cuts reported across 457 companies. Major firms like Tesla, Amazon, Google, and Microsoft have implemented substantial workforce reductions. The trend reflects ongoing challenges in the tech sector, including the impact of AI and automation on job security, as well as the need for companies to adapt to changing market conditions.
In the U.S., banks are under scrutiny for their handling of elder fraud cases, as legislation aimed at requiring them to report suspected scams has faced pushback from industry lobbyists. Despite efforts to protect vulnerable seniors, banks often prioritize consumer education over proactive measures, leading to significant financial losses for elderly victims. Lawmakers are exploring ways to hold banks accountable while balancing the need for consumer independence.
Tech Explained
AI (Artificial Intelligence) – AI refers to the simulation of human intelligence processes by machines, especially computer systems. It involves tasks such as learning, reasoning, and self-correction.
Automation – Automation is the use of technology to perform tasks with minimal human intervention. It aims to increase efficiency, productivity, and reliability in various industries.
Job Security – Job security refers to the assurance that an individual’s job is stable and protected from risks such as layoffs, downsizing, or automation.
Consumer Education – Consumer education involves educating individuals about their rights and responsibilities as consumers, as well as providing information to help them make informed decisions.
Legislation – Legislation refers to laws or statutes enacted by a governing body, such as a government or parliament, to regulate various aspects of society and industry.
