2023-12-08T07:20:27+00:00
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Gold prices are heading towards recording their first weekly decline in four weeks after the rise of the dollar, but they remained stable on Friday, as markets awaited key US jobs data to measure the possibility of the Federal Reserve (US central bank) reducing interest rates in early March.
Gold rose in spot transactions 0.1 percent to $2,030.09 per ounce by 0610 GMT. But the yellow metal has fallen about 2% since the beginning of the week. Gold settled in US futures at $2,046.50.
Gold rose to its highest level ever at $2,135.40 on Monday due to high bets on the Federal Reserve cutting interest rates, before falling more than $100 due to uncertainty about the timing of the cut.
The Dollar Index (.DXY) was on track to snap a three-week losing streak, making gold priced in the US currency more expensive for holders of other currencies.
Data this week indicated that the US labor market is gradually losing momentum as rising borrowing costs suppress demand in the broader economy.
The US November non-farm payrolls report is scheduled for release at 1330 GMT, which would show that employers added 180,000 jobs last month. (USNFAR=ECI)
CME’s FedWatch tool showed that markets expect a 59% chance of a cut in US interest rates as soon as possible, but a Reuters poll showed interest rates unchanged until at least July.
What are the ethical concerns surrounding the integration of AI in various sectors?
Interview between Time.news Editor and AI Expert
Time.news Editor: Good day, everyone! Today we have the privilege of speaking with Dr. Emma Lin, a renowned expert in artificial intelligence and its impact on various sectors. Dr. Lin, thank you for joining us!
Dr. Emma Lin: Thank you for having me! It’s a pleasure to be here.
Editor: Let’s delve into the current landscape of AI technology. It seems like every day we see new advancements cropping up. What do you think are the most significant developments we’ve witnessed in the past year?
Dr. Lin: Absolutely, it’s been a whirlwind year for AI. One of the standout developments has been the progression in generative models—especially in natural language processing and image generation. Models like GPT-4 and DALL-E have shown remarkable capabilities in creating text and images that are indistinguishable from human-generated content.
Editor: That’s fascinating! With these advancements, do you believe we are ready to fully integrate AI into our daily lives, or are there still substantial hurdles to overcome?
Dr. Lin: While we’re making strides, there’s still a lot to consider. The capabilities of AI are impressive, but we must address ethical concerns, data privacy, and the potential for bias in AI decision-making. Regulations are lagging behind the technology, which means that we need to be cautious in implementation.
Editor: Ethical concerns are definitely at the forefront of many discussions. Can you elaborate on specific challenges related to bias that we should be aware of?
Dr. Lin: Certainly. AI systems learn from existing data, which means they can inherit or even amplify biases present in that data. This can lead to unfair treatment in critical areas like hiring, lending, or law enforcement. If we don’t carefully curate our datasets and continually monitor AI systems for bias, we risk perpetuating inequalities.
Editor: That’s an important point. Moving beyond ethics, what is your outlook on the workforce in relation to AI? Are jobs at risk, or is there a way for humans and AI to coexist and enhance productivity?
Dr. Lin: It’s a complex issue. While some jobs are indeed at risk, particularly those involving repetitive tasks, AI can also create new opportunities—especially in fields like data analysis, AI ethics, and even in creative industries. The key is reskilling and ensuring that workers are equipped to work alongside AI. The future should be viewed as a collaboration rather than a replacement.
Editor: Collaboration sounds promising! As we progress, what steps can organizations take to ensure they’re effectively integrating AI without compromising on ethical grounds?
Dr. Lin: Organizations should start by developing clear AI usage guidelines and establish a dedicated team to oversee AI implementations. Training and educating employees on AI ethics is paramount. Additionally, transparency in AI algorithms and decision-making processes can foster trust and accountability.
Editor: Dr. Lin, it’s been incredibly enlightening to hear your thoughts on these pivotal matters. As a final question, what excites you the most about the future of AI?
Dr. Lin: I’m particularly excited about the potential of AI in solving some of the world’s biggest challenges, like climate change and healthcare. By analyzing vast amounts of data, AI can help us make informed decisions, optimize resources, and innovate solutions that improve quality of life globally.
Editor: That’s a hopeful perspective! Thank you so much, Dr. Lin, for sharing your insights today. We look forward to seeing how AI evolves in the coming years.
Dr. Lin: Thank you for having me! I enjoyed our conversation.
Editor: And thank you to our audience for tuning in. Until next time!