Latest news with #MilkenInstitute
Irish Times
7 days ago
- Business
- Irish Times
Trump's baby bonds could turn every child into an investor
The Trump Account proposal – baby bonds by any other name – is inching closer to reality. Buried in the US president's One Big Beautiful Bill , it would give every American newborn a $1,000 investment account, with contributions allowed up to $5,000 a year. When the child turns 18, the money can be used for education, a first home, or starting a business, with full access granted at age 31. Chief executives from Dell to Goldman Sachs met at the White House to back the plan, some pledging to match the initial deposit for employees' children. It's a modest start, but one with potential. Bespoke Investment Group notes if you invested $1,000 in the S&P 500 50 years ago, it would now be worth nearly $350,000. Even for those born just before the 1987 crash, the sum would have grown to $40,000 – and as Bespoke noted, 'there are a lot of 37-year-olds out there ... that wouldn't mind having $40k in an investment account right now'. READ MORE The Milken Institute estimates a typical $1,000 birth account would rise to $8,000 by age 20, $69,000 after 40 years, and could top $500,000 by retirement. Beyond wealth-building, the aim is to encourage long-term thinking, financial literacy and wider stock ownership, and to give low-income families a toehold in wealth creation. They contrast sharply with Ireland's ETF regime, where deemed disposal rules mean you pay 41 per cent tax on gains every eight years – even if you haven't sold. That stunts the very compounding these US proposals aim to harness. Ireland might learn from the US's plan: start small, think long.
Tom's Guide
08-06-2025
- Business
- Tom's Guide
OpenAI CEO Sam Altman says AI could replace interns — but there's still hope for Gen Z
Entry-level jobs as we know them could soon be a thing of the past. OpenAI CEO Sam Altman says AI can now effectively do the same work as junior-level employees, and its skillset is only expected to get even better in the coming months. He predicted that AI will eventually rival the skills of even an experienced engineer, all while being uniquely capable of operating continuously for days on end without breaks. 'Today [AI] is like an intern that can work for a couple of hours but at some point it'll be like an experienced software engineer that can work for a couple of days,' Altman told a panel this week alongside Snowflake CEO Sridhar Ramaswamy at Snowflake Summit 2025. Altman added that in the next year, we could see AI solving complex business problems autonomously. 'I would bet next year that in some limited cases, at least in some small ways, we start to see agents that can help us discover new knowledge, or can figure out solutions to business problems that are very non-trivial," he said. It's a bold prediction we've heard echoed by other tech CEOs like Nvidia's Jensen Huang, who warned that those who hesitate to embrace AI may find themselves at the unemployment office. 'You're not going to lose your job to an AI, but you're going to lose your job to someone who uses AI," he said at last month's Milken Institute conference. Get instant access to breaking news, the hottest reviews, great deals and helpful tips. Generative AI stands poised to make entry-level jobs obsolete at a time when Generation Z is solidifying its place in the workforce, but that hasn't stopped Gen Z from embracing the technology. A recent Resume survey found that while one in 10 workers reported using ChatGPT regularly, Gen Z workers were twice as likely to use the tool. The same study found that the vast majority of workers at any age see ChatGPT as a helpful tool. But over half of Gen Z workers considered it the equivalent of another co-worker or assistant, compared to 40% of millennials and 35% of older generations. Altman has broken down the generational differences in AI usage before: '[It's a] gross oversimplification, but like older people use ChatGPT as a Google replacement. Maybe people in their twenties and thirties use it as like a life advisor, and then, like people in college use it as an operating system,' he said at Sequoia Capital's AI Ascent event in May. Even as Gen Z embraces AI, some tech leaders have been sounding the alarm bells about the economic fallout of an AI-driven job market. Anthropic CEO Dario Amodei recently told Axios that AI could wipe out half of all entry-level white collar jobs, causing unemployment to skyrocket by 10% to 20%. OpenAI owns ChatGPT, a revolutionary chatbot AI that, since its release in 2022, has quickly become one of the most advanced and widely used AI tools in the world. Powered by OpenAI's latest model, GPT-4o, ChatGPT can help you plan your weekend, write a term paper, or any number of other tasks. It supports everything from real-time speech interaction to multimodal content creation — and you can get many of its most powerful features for free. If you're curious, be sure to check out our guide on how to use ChatGPT, as well as these tips to get the most out of ChatGPT.
Yahoo
02-06-2025
- Business
- Yahoo
Jensen Huang Says AI Will Change Everything—Here's How to Keep Your Job
Nvidia CEO Jensen Huang isn't holding back when it comes to the looming impact of AI on the job market. At the Milken Institute's Global Conference earlier this month, he made it clear: AI will affect every job, and it's happening fast. 'Every job will be affected, and immediately. It is unquestionable,' Huang said. But he didn't stop there. He emphasized that the real risk isn't AI itself, but the people who learn to harness its power. 'You're not going to lose your job to an AI, but you're going to lose your job to someone who uses AI.' Huang's prediction paints a future where those who ignore AI will find themselves replaced by more tech-savvy counterparts. While some tech leaders like Anthropic CEO Dario Amodei are predicting widespread job losses—up to half of all entry-level white-collar positions within five years—Huang takes a different stance. He believes AI will put 30 to 40 million workers back to work by boosting productivity and bridging the global talent gap. 'I would recommend 100% of everybody take advantage of AI,' Huang advised. 'Don't be that person who ignores this technology and as a result, loses your job.' The debate around AI's impact is dividing the tech world. While Axios reported that Anthropic CEO Dario Amodei warns of mass layoffs, others like Mark Cuban point to historical job shifts. 'At one point there were more than 2 million secretaries,' Cuban wrote on Bluesky. 'New companies with new jobs will come from AI and increase total employment.' One thing is clear: ignoring AI is no longer an option. Whether it's a tool for job security or a looming threat, the era of AI-driven transformation is here, and it's moving faster than anyone Huang Says AI Will Change Everything—Here's How to Keep Your Job first appeared on Men's Journal on May 30, 2025 Sign in to access your portfolio
CNA
30-05-2025
- Business
- CNA
Milken Institute Asia Summit will continue to be held in Singapore from 2026 to 2028
The annual Milken Institute Asia Summit, which addresses pressing issues in the Asia Pacific, will continue to be held in Singapore from 2026 to 2028. This follows a Memorandum of Understanding signed by the Singapore Tourism Board and Milken Institute. The event provides business leaders and senior government officials with a platform to address challenges, such as geopolitics and climate change. STB said the commitment reaffirms Singapore's position as the world's best city for the Meetings, Incentives, Conferences, and Exhibitions sector.
Yahoo
30-05-2025
- Business
- Yahoo
Jensen Huang Says AI Will Change Everything—Here's How to Keep Your Job
Nvidia CEO Jensen Huang isn't holding back when it comes to the looming impact of AI on the job market. At the Milken Institute's Global Conference earlier this month, he made it clear: AI will affect every job, and it's happening fast. 'Every job will be affected, and immediately. It is unquestionable,' Huang said. But he didn't stop there. He emphasized that the real risk isn't AI itself, but the people who learn to harness its power. 'You're not going to lose your job to an AI, but you're going to lose your job to someone who uses AI.' Huang's prediction paints a future where those who ignore AI will find themselves replaced by more tech-savvy counterparts. While some tech leaders like Anthropic CEO Dario Amodei are predicting widespread job losses—up to half of all entry-level white-collar positions within five years—Huang takes a different stance. He believes AI will put 30 to 40 million workers back to work by boosting productivity and bridging the global talent gap. 'I would recommend 100% of everybody take advantage of AI,' Huang advised. 'Don't be that person who ignores this technology and as a result, loses your job.' The debate around AI's impact is dividing the tech world. While Axios reported that Anthropic CEO Dario Amodei warns of mass layoffs, others like Mark Cuban point to historical job shifts. 'At one point there were more than 2 million secretaries,' Cuban wrote on Bluesky. 'New companies with new jobs will come from AI and increase total employment.' One thing is clear: ignoring AI is no longer an option. Whether it's a tool for job security or a looming threat, the era of AI-driven transformation is here, and it's moving faster than anyone Huang Says AI Will Change Everything—Here's How to Keep Your Job first appeared on Men's Journal on May 30, 2025
