Author: admin

  • Increased AI use leads law firm to cut finance, HR and IT roles in London by 10% | Artificial intelligence (AI)

    Increased AI use leads law firm to cut finance, HR and IT roles in London by 10% | Artificial intelligence (AI)

    The law firm Clifford Chance is reducing the number of business services staff at its London base by 10%, with the increased use of artificial intelligence a factor behind the decision.

    The head of PwC has also indicated that AI may lead to fewer workers being hired at the accountancy and consulting group.

    Clifford Chance, one of the largest international law firms, is making about 50 roles redundant in areas such as finance, HR and IT with role changes for up to 35 other jobs, according to the Financial Times which first reported the cuts.

    Greater use of AI and reduced demand for some business services are behind the cuts, the FT report said, as well as more work being done at offices outside Clifford Chance’s main UK-US operations in countries like Poland and India.

    A spokesperson for Clifford Chance said: “In line with our strategy to strengthen our operations, we can confirm we are proposing changes to some of our London-based business professional functions.

    “The proposed changes could see the creation of new roles, changes to the scope of roles, revised team structures and in some cases a reduction in roles.”

    White-collar, or office-based jobs, are commonly cited as being vulnerable to advances in AI, the term for computer systems that perform cognitive tasks typically associated with human intelligence.

    AI is able to help employees perform some tasks faster – such as coding, research, scheduling meetings and reviewing contracts – and experts believe companies will consider banking those productivity gains by hiring fewer people, or cutting staff numbers as systems become capable of handling certain tasks autonomously.

    Four in 10 (41%) bosses told a recent survey of 850 business leaders that AI was allowing them to cut the number of employees. The British Standards Institution poll spanned seven countries: the UK, the US, France, Germany, Australia, China and Japan.

    The global chairman of PwC, Mohamed Kande, said the firm would no longer be hiring 100,000 people over a five-year period – a target set in 2021 – due to the advent of AI, indicating that entry-level jobs could be affected.

    “When we made the plans to hire that many people, the world looked very, very different,” he told the BBC. “Now we have artificial intelligence. We want to hire, but I don’t know if it’s going to be the same level of people that we hire – it will be a different set of people.”

    However, Kande added that PwC was struggling to recruit AI specialists. “We are looking for hundreds and hundreds of engineers today to help us drive our AI agenda, but we just cannot find them,” he said.

    The UK head of PwC said in September that AI was “certainly reshaping roles” but that a drop in graduate recruitment at the firm this year was due to a slowdown in economic activity.

    Continue Reading

  • Michael Vaughan sees ‘scars’ on Australia batters as England fight back in Ashes

    Michael Vaughan sees ‘scars’ on Australia batters as England fight back in Ashes

    Michael Vaughan reckons England’s…

    Continue Reading

  • With two launches in the books, Blue Origin announces even more powerful New Glenn is coming – Phys.org

    1. With two launches in the books, Blue Origin announces even more powerful New Glenn is coming  Phys.org
    2. New Glenn Update  Blue Origin
    3. Blue Origin planning next New Glenn flight for early next year  SpaceNews
    4. NASA, Blue Origin Launch Two Spacecraft to…

    Continue Reading

  • Frida Kahlo self-portrait sells for $54.7m to set new auction record for a female artist | Frida Kahlo

    Frida Kahlo self-portrait sells for $54.7m to set new auction record for a female artist | Frida Kahlo

    A 1940 self-portrait by famed Mexican artist Frida Kahlo has sold for $54.7m (£41.8m, A$84.7m) at a New York art auction, setting a new top sale price for a work by any female artist.

    El sueño (La cama), or The Dream (The Bed), which depicts…

    Continue Reading

  • Kings of Leon and Neil Young head to new festival in Essex

    Kings of Leon and Neil Young head to new festival in Essex

    PA Media Kings of Leon lead vocalist Caleb Followill closes his eyes and sings into a microphone. He is wearing a light-coloured shirt and also playing a guitar.PA Media

    Kings of Leon have sold almost 40 million singles worldwide, the promoter said

    Kings of Leon, Neil Young & The Chrome Hearts and The Lumineers have been announced as headliners at a brand new 30,000-capacity music festival in Essex.

    State…

    Continue Reading

  • Max Verstappen wrapped up the title at last year’s race – but two other champions were also crowned in Las Vegas

    Max Verstappen wrapped up the title at last year’s race – but two other champions were also crowned in Las Vegas

    Sometimes you need something badly enough that you’ll put up with anything to make it happen. Even if it means that you end up having to race in a car park. Ask Bernie Ecclestone…

    There used to be a place outside Las Vegas called the Stardust…

    Continue Reading

  • Fukushima owner edges towards restarting first reactor since meltdown

    Fukushima owner edges towards restarting first reactor since meltdown

    The owner of the Fukushima nuclear power plant is edging closer to having one of its reactors restarted for the first time since the 2011 disaster.

    Hideyo Hanazumi, the governor of the Niigata region, where Japan’s largest nuclear power plant is located said the prefecture would give its consent for restart.

    It will need final approval from Japan’s nuclear regulator before the plan to resume operations at the Kashiwazaki-Kariwa facility, operated by Tepco, goes ahead.

    If approved, it would be the first time Tepco has been allowed to recommence nuclear reactor operations in Japan since its Fukushima plant went into meltdown following a tsunami.

    Residents in Niigata are divided over whether the plant should be restarted or not.

    Hanazumi told a news conference on Friday that, once approved, the decision would then be discussed in December at a prefectural government assembly, where he would seek the assembly’s approval.

    The approval would be for the recommencement of operations at the Kashiwazaki-Kariwa plant’s No 6 reactor, followed by the No 7.

    The resumption of operations at the facility is part of Tepco’s business reconstruction plan following the Fukushima meltdown – when the plant’s reactors were flooded, causing radiation to leak out and forcing 150,000 people to be evacuated from the area.

    Eighteen-thousand people were killed in the 9.0-magnitude earthquake and tsunami that preceded it.

    Following the disaster, Tepco was ordered to pay trillions of Japanese yen in damages to those affected and is also paying for the plant’s decommissioning costs.

    A survey released by Niigata prefecture last month suggested 50% of the its residents supported the plant’s restart, while 47% were against it. It also indicated that almost 70% of people in the prefecture were concerned about Tepco running the plant.

    Fourteen nuclear reactors have already resumed operations in Japan since the Fukushima disaster.

    Friday’s decision demonstrates Japan’s desire to move towards increased use of atomic energy to reduce its dependence on fossil fuels as it pursues a goal of net zero carbon emissions.

    Continue Reading

  • Australia's seven-wicket hero Starc ready to go again – France 24

    1. Australia’s seven-wicket hero Starc ready to go again  France 24
    2. Australia on the ropes after frenetic 19-wicket opening day  ESPNcricinfo
    3. The Ashes: 19 wickets fall on amazing opening day – as it happened  BBC
    4. Stokes leads fightback after Starc’s…

    Continue Reading

  • China unleashes 'wolf warriors' in diplomatic duel with Japan – Reuters

    1. China unleashes ‘wolf warriors’ in diplomatic duel with Japan  Reuters
    2. The real reason behind China’s fury toward Japan’s Takaichi  CNN
    3. Chinese Coast Guard vessels sail through Japan-administered Senkaku Islands  Al Jazeera
    4. Japanese concerts in…

    Continue Reading

  • Business and Financing Models for PV-Supported Clean Cooking

    Business and Financing Models for PV-Supported Clean Cooking

    The uptake of higher-tier (4+) clean cooking solutions, especially in last mile communities, is a critical but often underfunded and insufficiently prioritised need. Despite a diversity of viable technologies, including pure electric cooking (eCooking) powered by photovoltaic systems (solar PV) and PV-supported biomass gasifier stoves, as well as ethanol stoves, their widespread adoption remains a challenge due to various barriers, including upfront costs and low awareness among end-users about potential financial and health benefits. However, the decreasing cost of solar PV modules, and the increasing affordability of PV-supported clean cookstoves and appliances, have made that specific category of technologies more financially viable, cost-competitive and better aligned with the Nationally Determined Contributions to the Paris Agreement on climate change (NDCs).

    PV-supported cooking addresses both climate change mitigation and adaptation by reducing CO2 and other pollutant emissions by decreasing the dependence on unsustainably harvested biomass from local (and often fragile) ecosystems. With significant advancements and cost reductions in PV-supported clean cooking, scaling these solutions can help bridge the Emissions Gap and support several Sustainable Development Goals. Overcoming barriers to uptake requires supply and demand-side interventions, including affordable financing for viable business models discussed in this report, to facilitate household adoption of clean cooking technologies through scalable market-based approaches.

    The report is co-published with the World Food Programme (WFP) and the Global Platform for Action on Sustainable Energy in Displacement Settings (GPA), in support of the objectives of the Global electric Cooking Coalition (GeCCo) and the multistakeholder Solar electric Cooking Partnership (SOLCO).

    Continue Reading