🤖 AI costs 1,800 jobs at Intuit: The future of work?

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Welcome Humans🤖, here`s what we have today:

PICKS

• D-wave has done something that google couldn't achieve in Quantum Computing.

• YouTube Music is rolling out a series of new AI-powered features, including the ability to search with sound and the testing of an AI-generated 'conversational radio’.

• Microsoft researchers just published new research introducing SpreadsheetLLM and SheetCompressor, new frameworks designed to help LLMs better understand and process information within spreadsheets.

• Apple’s stock rose to record highs following investment giant Morgan Stanley naming the company its ‘top pick’ based on recent Apple Intelligence and other AI initiatives potentially boosting device sales.

• HP has claims its new OmniBook Ultra is now the “world’s fastest AI PC” with 55 TOPS for AI tasks and up to 21 hours of battery life.

• Ultrahuman’s smart ring gets FDA-approved AFib detection.

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AI Impact

💼 Intuit cites AI in major layoffs

Intuit, the financial software company, is laying off 1,800 employees, with CEO Sasan Goodarzi explained that the layoffs are not about cutting costs and attributing the decision to AI advancements.

The Details 📊

• Intuit is cutting approximately 10% of its workforce

• CEO Goodarzi cited AI and automation as primary reasons for the layoffs

• The company aims to reduce redundancy and increase efficiency through AI integration

• Layoffs affect various departments, including customer success and sales

• Intuit plans to invest more in AI and machine learning technologies

• The move reflects a growing trend of companies restructuring due to AI advancements

• Intuit plans to hire the same number of employees in roles related to engineering, product development, and customer-facing positions.

Why It Matters: This large-scale layoff, explicitly linked to AI capabilities, highlights the significant impact AI is having on workforce dynamics and corporate strategies, raising questions about the future of employment in the age of AI.

AI in Healthcare

🧠 AI tool predicts Alzheimer's progression

Cambridge University researchers develop an AI model that predicts Alzheimer's progression for patients showing mild cognitive impairment with over 80% accuracy.

The Details 📊

• AI analyzes cognitive assessments and MRI scans, avoiding costly invasive procedures

• Tool categorizes patients into three groups: stable, slow progression, and rapid decline

• 82% accuracy in identifying cases progressing to Alzheimer's

• 81% accuracy in identifying stable cases

• Validated using 6 years of follow-up data

• Tested across memory clinics in multiple countries for global applicability

• Potential to significantly reduce misdiagnosis rates

• Enables early intervention and more effective treatment planning

Why It Matters: With dementia cases expected to triple in the next 50 years, this AI tool could revolutionize early detection and treatment of Alzheimer's, potentially improving outcomes for millions of patients worldwide.

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