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In Philadelphia, the poorest big city in the U.S., the minimum wage has been stuck at $7.25 per hour for the past 15 years. That’s the minimum wage everywhere in Pennsylvania, and it matches the federal minimum wage. However, minimum wage workers in other big American cities earn significantly more: $16 an hour in New York and $15 an hour in Boston, for example. If Philadelphia’s $7.25-per-hour minimum wage were to keep up with inflation alone, it would need to be raised to at least $10.38 today, according to the federal Consumer Price Index inflation calculator. We asked Michael O’Bryan, founder of the Wealth and Work Futures Lab at...... Read Full article on HadNews

It’s been just about a year now—a nonprofit called the Future of Life Institute posted an open letter reflecting people’s darkest fears about artificial intelligence. “Contemporary AI systems are now becoming human-competitive at general tasks,” it said. It called for a pause in training of the most advanced AI, so that technology companies could develop safety protocols. It expressed worry about disinformation and out-of-control machines. And it struck a nerve with its concerns that some AI could make human work irrelevant. “AI is a tool. ... And tools generally aren’t substitutes for expertise but rather levers for its application.” —Davi...... Read Full article on HadNews

Tyler Perry is reevaluating where to put his resources amid the rise of OpenAI technology. The mega-producer told The Hollywood Reporter that his $800 million plans to expand his Atlanta-based studio have been put “indefinitely on hold” after he saw the “mind-blowing” capabilities of the artificial intelligence company’s text-to-video model, Sora. Perry spent four years planning the pricey expansion at his studio, which would have added 12 soundstages on the backlot. “All of that is currently and indefinitely on hold because of Sora and what I’m seeing,” Perry said. “I had gotten word over the last year or so that this was coming, bu...... Read Full article on HadNews

New research suggests that most jobs could be disrupted in some way by generative AI in the next ten years. The study published on January 10th by tech consulting firm Cognizant, in collaboration with Oxford Economics, found that around 9% of the current US workforce may be displaced by the new technology. It also reported that thanks to AI, 11% of workers may lose their jobs and struggle to find new employment. This difficulty comes as the skills workers possess for their current roles may not be easily transferable to a job market increasingly dominated by artificial intelligence. A specialized model was used to reveal three scenario...... Read Full article on HadNews