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IT and Media news week 3.

The Week That Was: IT and Media news week 3

30% of jobs in advanced economies can be negatively affected by artificial intelligence. Women and more educated workers are at higher risk. Almost 40% of global employment is exposed to AI, with advanced economies at greater risk but also better poised to exploit AI benefits than emerging markets and developing economies, a report from International Monetary Fund shows. 

The European Union needs a legal framework to make the music streaming sector fair and sustainable, and to promote cultural diversity. In a resolution adopted by 532 votes to 61 and 33 abstentions, the parliament says the imbalance in revenue allocation from the music streaming must be addressed, as it today leaves a majority of authors and performers with very low compensation. The parliament also says that quotas for European music should be considered. 

While generative AI (GenAI) had significant hype in 2023, it will not significantly change the growth of IT spending in the near-term, market research firm Gartner says downsizing its forecast for worldwide IT spending in 2024. The company is cutting the expected growth from 8% to 6.8%. Worldwide IT spending 2024 is expected to reach a total of $5 trillion in 2024. 

52% of company leaders expect widespread use of Gen AI to centralise power in the global economy and 51% say it will increase economic inequality. 79% expect Gen AI to transform their organisations within three years, a survey by consultancy Deloitte shows. The survey comprises more than 2,800 Director to C-suite level across six industries and 16 countries.

 

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