This weekend in AI: Google co-founders make $18 billion as AI lifts stocks, Zerodha CEO explains AI policies and more

(Image: Reuters)

Larry Page’s net worth increased by $9.4 billion this week to $106.9 billion, while Sergey Brin’s rose $8.9 billion to $102.1 billion, according to the Bloomberg Billionaires Index. That was their biggest weekly gain since February 2021.

• Google will start experimenting with a more conversational search engine and has made its AI-powered chatbot available more broadly, the Mountain View, California-based company said at its annual developer conference on Wednesday. That’s helping the firm assert dominance in an increasingly competitive field. Shares of its parent, Alphabet Inc., rose almost 1% in New York Friday after surging 8.6% in the two days through Thursday.
• Google’s former chief executive officer, Eric Schmidt, is another beneficiary of the AI boom. He’s invested in many startups in the field and has rejected public calls to slow down the speed of research, citing concerns over China’s advances in tech.

Nithin Kamath, CEO of online brokerage firm Zerodha, has tweeted a series of messages outlining the company's stance on AI and job loss.

• Kamath began by announcing that Zerodha has created an internal AI policy to provide clarity to its employees. He assured his team that the company will not fire anyone simply because a new technology has made their job redundant.
• Kamath also expressed his views on the impact of AI on society. He acknowledged that AI has the potential to disrupt jobs and exacerbate wealth inequality. He cited the current capitalistic and economic systems as the primary drivers of this inequality.

According to the study by Salesforce, 93 percent of Indian workers showed excitement about the idea of utilising generative AI for their work, while 91 percent firms report that they are thinking about employing generative AI.

• The new report stated 93 percent of Indian workers showed excitement about the idea of utilising generative AI for their work, while 91 percent of firms report that they are thinking about employing generative AI.
• About 89 percent of Indian workers believe that in today's job market, skills-based experience is more important than a degree or industry-specific certification. However, the study noted there is a disconnect between the skills companies need and those currently used by the workforce.