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White-Collar Woes: High-Earning Professionals Face Job Market Slowdown Despite Economic Growth

Lots of really great Big ideas to end our week with.

From Business Insider, Despite low unemployment rates and a growing economy, white-collar workers are struggling to find high-salary jobs. While hiring rates for lower earners have held up, hiring for those making over $96,000 has slowed significantly. Possible explanations include fewer job openings in corporate jobs, struggling industries employing high-earning professionals, or companies cutting back on expensive workers. This slowdown in white-collar hiring has led to professionals feeling trapped in their current jobs and unable to find new opportunities. The situation has created a sense of recession among white-collar workers, impacting public discourse about the economy. The trend may continue, particularly for professionals with advanced degrees, as AI tools encroach on their tasks.

MIT Technology Review examines An AI startup called Synthesia that has developed hyperrealistic deepfake avatars that mimic facial expressions and movements. The avatars are created by training AI models with data from professional actors. Synthesia’s technology has advanced to the point where the avatars can match mouth movements and hand gestures and even convey different emotions. The company emphasizes obtaining explicit consent and has implemented content moderation systems to prevent misuse. While the technology shows promise, concerns about misinformation and the authenticity of content remain.   The publication also has one of their reporters undergo the process for a first-person account.  

I spotted two stories this week about data centers and power consumption. First, the Washington Post highlights that efforts to control the rapidly growing internet data center industry are increasing as concerns about energy consumption and impacts on the electric grid rise. Laws and regulations are being implemented in various states, such as increased tax rates on data center equipment, restrictions on building locations, and moratoriums on tax incentives. The industry is under scrutiny for its high energy consumption and greenhouse emissions, prompting discussions with utilities and policymakers about addressing these challenges. However, stricter regulations may drive data center companies away, depriving communities of economic benefits.

The Atlantic examined Microsoft’s data center in Goodyear, Arizona, which is part of the company’s ambitious plans to tackle climate change while supporting AI’s explosive growth. However, the data center’s massive water and energy consumption raises concerns in a region already facing extreme heat, drought, and water scarcity. The clash between AI’s resource-intensive demands and the changing climate highlights the need for sustainable solutions and transparency in the tech industry’s environmental impact.

Why do we care?

Besides my usual “I want you to think about these,” I’ll tell you why I was drawn to each.   I’ve heard antidotally that it’s hard to find good roles, and this dive gave some reasons why.  

I think a lot about the risks of AI damaging or destroying the ability to trust information, particularly the idea of trusting video.   If testimony can be altered or faked and become undetectable, what damage does that do?    There stands to be opportunity there.

Finally, most technologies don’t generally ponder energy usage when considering the technology — which is ever-increasing in cost.    Personally, I’ve been burned by Green IT before, but there might be something to it.

And thus, why we care.