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Netflix says it has used visual effects created by generative artificial intelligence (AI) on screen for the first time in one of its original TV shows.

The streaming giant’s co-CEO Ted Sarandos said AI, which produces videos and images based on prompts, was used to create a scene of a building collapsing in the Argentine science fiction show, The Eternauts.

He praised the technology as an “incredible opportunity to help creators make films and series better, not just cheaper.”

The use of generative AI is controversial in the entertainment industry and has sparked fears that it will replace the work of humans.

The comments came after the company unveiled revenue of $11.08bn (£8.25bn) for the three months to the end of June,16% higher than the same time last year.

Netflix said the better-than-expected performance was boosted by the success of the third and final series of South Korean thriller Squid Game, which has so far attracted 122 million views.

Asked about Netflix’s use of AI, Mr Sarandos said the technology has allowed productions with smaller budgets to use advanced visual effects.

The generative AI used in The Eternauts helped its production team to complete a sequence 10 times faster than if they had used traditional special effects tools, he said.

“The cost of it would just wouldn’t have been feasible for a show in that budget.”

“That sequence actually is the very first [generative] AI final footage to appear on screen in a Netflix original series or film. So the creators were thrilled with the result,” said Mr Sarandos.

AI was among the key concerns raised during a Hollywood strike in 2023.

During the three-month walkout, the Screen Actors Guild–American Federation of Television and Radio Artists union called for tighter regulation of the use of AI.

A recent crash involving a 1973 Chrysler New Yorker has ignited an online debate over car safety standards then and now.

The Michigan-based owner shared that the vintage vehicle sustained minimal damage after being rear-ended by a modern car—drawing viral attention to the collision and prompting thousands to weigh in on whether older or newer vehicles are safer.

Many classic car enthusiasts praised the Chrysler’s heavy steel frame, calling it a testament to the durability of older models.

However, automotive safety experts pushed back, pointing out that modern vehicles are designed to crumple on impact. These crumple zones absorb collision energy, reducing the force transmitted to occupants—ultimately saving lives even if the vehicle appears more damaged.

Critics of the older vehicle noted the lack of key safety features like airbags, anti-lock brakes, and reinforced cabin structures. While the 1973 Chrysler may have fared well externally, experts emphasized that passenger safety in high-speed collisions would likely be much lower compared to today’s standards.

The incident underscores the evolution in automotive engineering, which has shifted from preserving the car itself to prioritizing passenger protection. As viral discussions continue, safety professionals urge the public to understand that vehicle damage does not equate to poor performance—modern cars are designed to protect what matters most: the people inside.

KARACHI:

Pakistan’s total liquid foreign exchange reserves stood at $19.96 billion as of July 11, 2025, marking a marginal decline of $71.6 million over the previous week, according to data released by the State Bank of Pakistan (SBP) on Thursday.

The reserves held by the SBP rose by $23 million, reaching $14.53 billion, compared to $14.50 billion recorded a week earlier. This reflects the second consecutive weekly increase in central bank reserves. However, commercial banks saw a notable dip in their net foreign holdings, which fell by $95 million to $5.43 billion.

The current foreign reserves provide Pakistan with over three months of import cover. Out of the SBP’s total foreign exchange holdings of $14.5 billion, approximately $9.4 billion comprises deposits from friendly countries. In June 2025, China rolled over $3.4 billion in commercial loans, with $2.1 billion deposited directly with the SBP. Saudi Arabia and the UAE have provided up to $2 billion and $1 billion, respectively, while Qatar has contributed around $3 billion through deposits and direct investments.

Moreover, the central bank conducted two separate Open Market Operations (OMOs) on Thursday to inject a liquidity of Rs902.5 billion into the banking system – one under the Shariah-compliant Mudarabah-based framework and the other through a conventional reverse repo arrangement. Both operations were conducted with an eight-day tenor.

In the Shariah-compliant OMO, the central bank accepted all three submitted quotes within a narrow rate band of 11.13% to 11.15% per annum. The total injection was Rs37.39 billion (realised value) against a face value of Rs37 billion, with the rate of return fixed at 11.13%.

Simultaneously, the SBP carried out a conventional reverse repo OMO, receiving 13 quotes, of which 11 were accepted. The accepted bids amounted to a face value of Rs883.2 billion, with a realised value of Rs865.13 billion. The rate of return was 11.08% per annum.

In the latest Pakistan Investment Bonds’ (PIBs) auction held on July 16, the government raised Rs311.82 billion, surpassing its target of Rs300 billion, mainly through five-year bonds.

Cut-off yields dropped significantly across all tenors by 19 to 54 basis points compared to June, which reflected strong market confidence and expectations of policy rate cut amid easing inflation and improving macroeconomic indicators. Notably, the two-year and five-year bonds saw the steepest decline in yields, while the 15-year bond got no bids.

“The sharp decline in yields signals growing market anticipation of a policy rate cut in the upcoming monetary policy, likely driven by easing inflation and improved macro indicators,” noted Ali Najib, Deputy Head of Trading at Arif Habib Limited.

The Pakistani rupee remained stable against the US dollar on Thursday, closing at 284.97, down by just one paisa from 284.96 a day earlier.

Meanwhile, gold prices in Pakistan continued to slide, mirroring a downturn in the international market, where bullion extended losses following robust US economic data. The data bolstered expectations that the Federal Reserve would remain cautious in resuming monetary easing this year, putting pressure on safe-haven assets like gold.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold dropped by Rs900 per tola, settling at Rs355,100.

Interactive Commodities Director Adnan Agar noted, “After dipping slightly, the market has rebounded somewhat. The $3,300 level is acting as a strong support,” he said. “If prices fall below that, we could see a bearish trend. However, if this level holds, resistance lies ahead at $3,350, then $3,380 and eventually at $3,400.”