Shengjia Zhao — formerly of OpenAI — is the new chief scientist at Meta's new Superintelligence Lab, Mark Zuckerberg announced on Threads on Friday.
Why it matters: The company is spending billions of dollars to hire key employees as it looks to jumpstart its effort and compete with Google, OpenAI and others.
CHICAGO—IBM CEO Arvind Krishna said dire AI job warnings stem from a "reality distortion field" among industry leaders, arguing in an Axios interview that the employment picture is much more promising.
Why it matters: Anthropic CEO Dario Amodei sounded the alarm in May when he told Axios' Jim VandeHei and Mike Allen that AI could wipe out half of all entry-level white-collar jobs.
Investors are flocking to Europe, not for vacation, but for returns.
But without the market power of artificial intelligence companies, they may have to quickly come back to America.
Why it matters: Much of Europe's outperformance this year stems from a weakening dollar, not stronger fundamentals. Without the AI boom that is fueling the resurgence in U.S. stocks, the old world may struggle to keep up.
Meta on Friday said starting in October it will no longer accept political, election or social issue ads in the European Union, in response to new regulation that it says will cause "significant operational challenges and legal uncertainties."
Why it matters: Google already said it would pull ads in the EU for the same reason. Campaigns and cause and appeal organizations will have a significantly harder time placing ads online without the ability to run them on the EU's two biggest digital platforms.
