5 things about AI you may have missed today: AI threatens wages not jobs, Symphony leverages Google AI, more

tech.hindustantimes.com:

Today, November 28, the artificial intelligence space witnessed a major collaboration and several interesting developments. In the first news, the European Central Bank's (ECB) research indicates that the widespread implementation of AI might potentially lead to lower wages for professionals. In other news, Symphony, a markets infrastructure and tech company, is collaborating with Google to enhance its voice analytics services for banks and investment firms. This and more in today's AI roundup. Let us take a closer look.

Research from the European Central Bank (ECB) reveals that while the widespread adoption of AI may lead to reduced wages, it is currently generating jobs, particularly for the young and highly skilled, reports Reuters. Despite concerns about AI's impact on the job market, the study shows that the employment share in AI-exposed sectors has increased across 16 European countries. The report notes a neutral to slightly negative impact on earnings, with the possibility of further negative effects in the future.

Symphony, a markets infrastructure and tech firm, is partnering with Google to enhance its voice analytics services for banks and investment firms, as per a report by Reuters. Utilizing Google Cloud's Vertex AI, Symphony aims to improve its Cloud9 voice product with advanced speech-to-text and natural language processing capabilities. The collaboration is a response to increasing regulatory scrutiny on communications compliance. Symphony's Cloud9 product facilitates collaboration among trading teams in various asset classes, and the upgraded analytics will enable more accurate transcription for retention purposes and identification of suspicious discussions. Clients include major banks like Goldman