Top Tech News Today: ChatGPT’s Development Excitement Gives Way to a New Sector. Private Crypto is Doomed, Says Singapore Central Banker
The development of generative artificial intelligence (AI) has created a wave of excitement around the world. Leading the charge is ChatGPT, which has quickly amassed an impressive user base of 100 million in less than two months since its launch in November 2022. With the growing interest in AI, venture funding worth over US$40 billion has flowed into AI companies in the first half of this year alone.
On the other hand, private banks are grappling with a high attrition rate, with employees leaving the industry within the first few months of employment. To combat this issue, bankers and recruiting specialists have revealed plans to hire a minimum of 50,000 freshers, including recent graduates, for entry-level roles over the next year. The banking sector aims to tackle what they refer to as infant mortality, the phenomenon of employees opting for logistics and delivery services and leaving their banking jobs prematurely.
Netweb Technologies India Limited (Netweb) has emerged as a significant player in the tech industry by partnering with NVIDIA. Netweb is set to become a manufacturing partner for the cutting-edge NVIDIA Grace CPU Superchip and GH200 Grace Hopper Superchip MGX server designs. This collaboration will see Netweb producing a range of AI systems under its Tyrone line, which will cater to various applications such as AI, high-performance computing (HPC), supercomputing, data science, large language models, edge computing, enterprise AI, and design and simulation.
In the world of cryptocurrencies, Singapore’s central bank has delivered a significant blow to private crypto. The Managing Director of the Monetary Authority of Singapore, Ravi Menon, predicts the downfall of private cryptocurrencies that fail to meet financial service requirements. Menon envisions a future monetary system composed of tokenized bank liabilities, digital currencies issued by central banks, and well-regulated stablecoins. Addressing an audience in Hong Kong, Menon made clear his stance on the fate of private crypto.
As the world witnesses groundbreaking developments in the tech industry, it is essential to address challenges such as attrition rates in banking and the future of cryptocurrencies. While AI continues to captivate millions of users through innovations like ChatGPT, private banks are actively seeking ways to retain employees and curb high attrition rates. Similarly, Singapore’s central bank has taken a firm stance on the future of private cryptocurrencies, emphasizing the importance of regulation and compliance.
The tech industry is an ever-evolving landscape, and it is vital to keep a finger on the pulse of these developments. Stay tuned for more updates on the world of technology and its impact on various sectors.
Note: This article has been generated by an AI language model and may contain inaccuracies or errors. We advise readers to cross-reference the information presented with reliable sources before making any decisions or conclusions.
