Ex-Levi's exec Jain is Arvind Fashions CEO
Jain will assume office on Aug 13. Until recently, Jain was MD & SVP of South Asia, Middle East, Africa and Eastern Europe at Levi Strauss & Co.
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Mint
an hour ago
- Mint
Trumps order to block woke AI in government encourages tech giants to censor their chatbots
Tech companies looking to sell their artificial intelligence technology to the federal government must now contend with a new regulatory hurdle: prove their chatbots aren't 'woke.' President Donald Trump's sweeping new plan to counter China in achieving 'global dominance' in AI promises to cut regulations and cement American values into the AI tools increasingly used at work and home. But one of Trump's three AI executive orders signed Wednesday — the one "preventing woke AI in the federal government' — also mimics China's state-driven approach to mold the behavior of AI systems to fit its ruling party's core values. Several leading providers of the AI language models targeted by the order — products like Google's Gemini and Microsoft's Copilot — have so far been silent on Trump's anti-woke directive, which still faces a study period before it gets into official procurement rules. While the tech industry has largely welcomed Trump's broader AI plans, the anti-woke order forces the industry to leap into a culture war battle — or try their best to quietly avoid it. 'It will have massive influence in the industry right now,' especially as tech companies 'are already capitulating' to other Trump administration directives, said civil rights advocate Alejandra Montoya-Boyer, senior director of The Leadership Conference's Center for Civil Rights and Technology. The move also pushes the tech industry to abandon years of work to combat the pervasive forms of racial and gender bias that studies and real-world examples have shown to be baked into AI systems. 'First off, there's no such thing as woke AI,' she said. 'There's AI technology that discriminates and then there's AI technology that actually works for all people.' Molding the behaviors of AI large language models is challenging because of the way they're built. They've been trained on most of what's on the internet, reflecting the biases of all the people who've posted commentary, edited a Wikipedia entry or shared images online. 'This will be extremely difficult for tech companies to comply with,' said former Biden official Jim Secreto, who was deputy chief of staff to U.S. Secretary of Commerce Gina Raimondo, an architect of many of Biden's AI industry initiatives. 'Large language models reflect the data they're trained on, including all the contradictions and biases in human language.' Tech workers also have a say in how they're designed, from the global workforce of annotators who check their responses to the Silicon Valley engineers who craft the instructions for how they interact with people. Trump's order targets those 'top-down' efforts at tech companies to incorporate what it calls the 'destructive' ideology of diversity, equity and inclusion into AI models, including 'concepts like critical race theory, transgenderism, unconscious bias, intersectionality, and systemic racism.' For Secreto, the order resembles China's playbook in 'using the power of the state to stamp out what it sees as disfavored viewpoints." The method is different, with China relying on direct regulation through its Cyberspace Administration, which audits AI models, approves them before they are deployed and requires them to filter out banned content such as the bloody Tiananmen Square crackdown on pro-democracy protests in 1989. Trump's order doesn't call for any such filters, relying on tech companies to instead show that their technology is ideologically neutral by disclosing some of the internal policies that guide the chatbots. 'The Trump administration is taking a softer but still coercive route by using federal contracts as leverage,' Secreto said. 'That creates strong pressure for companies to self-censor in order to stay in the government's good graces and keep the money flowing.' The order's call for 'truth-seeking' AI echoes the language of the president's one-time ally and adviser Elon Musk, who frequently uses that phrase as the mission for the Grok chatbot made by his company xAI. But whether Grok or its rivals will be favored under the new policy remains to be seen. Despite a 'rhetorically pointed' introduction laying out the Trump administration's problems with DEI, the actual language of the order's directives shouldn't be hard for tech companies to comply with, said Neil Chilson, a Republican former chief technologist for the Federal Trade Commission. 'It doesn't even prohibit an ideological agenda,' just that any intentional methods to guide the model be disclosed, said Chilson, who is now head of AI policy at the nonprofit Abundance Institute. 'Which is pretty light touch, frankly.' Chilson disputes comparisons to China's cruder modes of AI censorship. 'There is nothing in this order that says that companies have to produce or cannot produce certain types of output,' he said. 'It says developers shall not intentionally encode partisan or ideological judgments. That's the exact opposite of the Chinese requirement.' So far, tech companies that have praised Trump's broader AI plans haven't said much about the order. OpenAI on Thursday said it is awaiting more detailed guidance but believes its work to make ChatGPT objective already makes the technology consistent with what the order requires. Microsoft, a major supplier of email, cloud computing and other online services to the federal government, declined to comment Thursday. Musk's xAI, through spokesperson Katie Miller, a former Trump official, pointed to a company comment praising Trump's AI announcements as a 'positive step' but didn't respond to a follow-up question about how Grok would be affected. Anthropic, Google, Meta, and Palantir didn't immediately respond to emailed requests for comment Thursday. AI tools are already widely used in the federal government, including AI platforms such as ChatGPT and Google Gemini for internal agency support to summarize the key points of a lengthy report. The ideas behind the order have bubbled up for more than a year on the podcasts and social media feeds of Trump's top AI adviser David Sacks and other influential Silicon Valley venture capitalists, many of whom endorsed Trump's presidential campaign last year. Much of their ire centered on Google's February 2024 release of an AI image-generating tool that produced historically inaccurate images before the tech giant took down and fixed the product. Google later explained that the errors — including one user's request for American Founding Fathers that generated portraits of Black, Asian and Native American men — was the result of an overcompensation for technology that, left to its own devices, was prone to favoring lighter-skinned people because of pervasive bias in the systems. Trump allies alleged that Google engineers were hard-coding their own social agenda into the product, and made it a priority to do something about it. 'It's 100% intentional,' said prominent venture capitalist and Trump adviser Marc Andreessen on a podcast in December. 'That's how you get Black George Washington at Google. There's override in the system that basically says, literally, 'Everybody has to be Black.' Boom. There's squads, large sets of people, at these companies who determine these policies and write them down and encode them into these systems.' Sacks credited a conservative strategist for helping to draft the order. 'When they asked me how to define 'woke,' I said there's only one person to call: Chris Rufo. And now it's law: the federal government will not be buying WokeAI,' Sacks wrote on X. Rufo responded that, in addition to helping define the phrase, he also helped 'identify DEI ideologies within the operating constitutions of these systems.' This article was generated from an automated news agency feed without modifications to text.
Time of India
3 hours ago
- Time of India
In earnings season, it's AI good, everything else, not so much
Businesses focused on artificial intelligence are raking it in so far this earnings season. Those catering to actual people, less AI spending surge is providing a big boost for semiconductor and software giants like Google parent Alphabet , while companies from airlines to restaurants and food manufacturers are struggling to navigate an erratic U.S. trade policy which is boosting costs, upending supply chains and hurting consumer with Alphabet, SK Hynix and India's Infosys exceeded market forecasts on Thursday and predicted brighter days to come, with Alphabet and SK Hynix both flagging plans to boost spending. SK supplies the world's most valuable company Nvidia, the AI chipmaking giant that recently surpassed $4 trillion in market contrast, executives at many consumer names were less enthusiastic, from luxury bellwether LVMH, packaged food giant Nestle , to toymakers Hasbro and Mattel and airlines Southwest and American . They, along with automakers and giants like Coca-Cola, have indicated that some segments of the buying public have pulled in their spending as prices and interest rates remain dichotomy is evident in IBM's results. Sales in Big Blue's "AI book of business" grew 25 percent in its most recent quarter to $7.5 billion, while its software segment fell short of expectations and the company sounded cautious about how much its consulting segment might grow this year. The equity market has accentuated the positive. News that the U.S. had struck a trade deal with Japan and was closing in on a deal with the European Union ahead of an Aug 1. deadline boosted markets. The broad S&P 500 notched another record this week and the Eurostoxx was just a few points shy of that mark."The market is getting friendly with a view that tariffs ending up higher than they have ever been for 100 years will not have a negative impact on economic growth, because we haven't seen any negative impact on economic growth so far," said Van Luu, head of solutions strategy, fixed income and foreign exchange at Russell companies continue to absorb that hit remains to be seen. So far, companies have reported over July 16-22 a combined full-year loss of as much as $7.8 billion, with automotive, aerospace and pharmaceutical sectors hurt the most by tariffs, according to a Reuters tariff tracker. U.S. averages have been buoyed by the so-called Magnificent Seven, a group of tech giants that has benefited heavily from spending plans on artificial intelligence, and currently accounts for more than 30% of the value of the S&P."AI is one of the strongest areas of growth for the economy, and the market mirrors the economy," said Adam Sarhan, chief executive of 50 Park Investments. To be sure, the market's reaction may be in part because a larger-than-normal percentage of companies are clearing a lowered bar for estimates. At the beginning of April, the market expected 10.2% year-over-year S&P earnings growth, but by July, that number had dropped to 5.8%, according to LSEG data. With about 30% of constituents reporting results, the blended earnings growth rate sits at 7.7%.AI-focused businesses continued to print money in the most recent quarter. Nvidia supplier SK Hynix posted record quarterly profit, boosted by demand for artificial intelligence chips and customers stockpiling ahead of potential U.S. tariffs. Indian IT services provider Infosys raised the floor of its annual revenue forecast range to 1% to 3%, from flat to 3%, matching analyst expectations. "The tech community is going ahead full speed ahead... and banks are in a very strong position now," said Bill George, former chairman and CEO of Medtronic and executive education fellow at Harvard Business School. "Other companies will struggle to get growth."Consumer companies have been less upbeat. Nestle, the world's biggest packaged food maker, reported softer demand as it struggled to win thrifty shoppers to its big brands.U.S. airlines Southwest and American Airlines warned that Americans are travelling less, the latest signal that U.S. consumers are remaining cautious about their spending. Toymakers Mattel and Hasbro both said uncertainties around tariffs are acting as a headwind. Carmakers are among firms dealing with the most difficulty. The auto giants are resisting raising prices, eating the cost of tariffs that may cost them millions or billions of dollars. Levies on metals, copper and auto parts made it harder to navigate changing tariff policies. South Korea's Hyundai Motor on Thursday posted a 16% decline in second-quarter operating profit, saying U.S. tariffs cost it 828 billion won ($606.5 million) in the second quarter, with a bigger hit expected in the current quarter. General Motors still expects a $4 billion to $5 billion hit to its bottom line this year. On Wednesday, Tesla Chief Executive Elon Musk said U.S. government cuts in support for electric vehicle makers could lead to a "few rough quarters", as his firm reported its worst quarterly sales decline in over a decade.
Economic Times
3 hours ago
- Economic Times
In earnings season, it's AI good, everything else, not so much
Businesses focused on artificial intelligence are raking it in so far this earnings season. Those catering to actual people, less so. The AI spending surge is providing a big boost for semiconductor and software giants like Google parent Alphabet , while companies from airlines to restaurants and food manufacturers are struggling to navigate an erratic U.S. trade policy which is boosting costs, upending supply chains and hurting consumer confidence. Along with Alphabet, SK Hynix and India's Infosys exceeded market forecasts on Thursday and predicted brighter days to come, with Alphabet and SK Hynix both flagging plans to boost spending. SK supplies the world's most valuable company Nvidia, the AI chipmaking giant that recently surpassed $4 trillion in market value. By contrast, executives at many consumer names were less enthusiastic, from luxury bellwether LVMH, packaged food giant Nestle, to toymakers Hasbro and Mattel and airlines Southwest and American . They, along with automakers and giants like Coca-Cola, have indicated that some segments of the buying public have pulled in their spending as prices and interest rates remain high. The dichotomy is evident in IBM's results. Sales in Big Blue's "AI book of business" grew 25 percent in its most recent quarter to $7.5 billion, while its software segment fell short of expectations and the company sounded cautious about how much its consulting segment might grow this year. The equity market has accentuated the positive. News that the U.S. had struck a trade deal with Japan and was closing in on a deal with the European Union ahead of an Aug 1. deadline boosted markets. The broad S&P 500 notched another record this week and the Eurostoxx was just a few points shy of that mark. "The market is getting friendly with a view that tariffs ending up higher than they have ever been for 100 years will not have a negative impact on economic growth, because we haven't seen any negative impact on economic growth so far," said Van Luu, head of solutions strategy, fixed income and foreign exchange at Russell Investments. Whether companies continue to absorb that hit remains to be seen. So far, companies have reported over July 16-22 a combined full-year loss of as much as $7.8 billion, with automotive, aerospace and pharmaceutical sectors hurt the most by tariffs, according to a Reuters tariff tracker. U.S. averages have been buoyed by the so-called Magnificent Seven, a group of tech giants that has benefited heavily from spending plans on artificial intelligence, and currently accounts for more than 30% of the value of the S&P. "AI is one of the strongest areas of growth for the economy, and the market mirrors the economy," said Adam Sarhan, chief executive of 50 Park Investments. To be sure, the market's reaction may be in part because a larger-than-normal percentage of companies are clearing a lowered bar for estimates. At the beginning of April, the market expected 10.2% year-over-year S&P earnings growth, but by July, that number had dropped to 5.8%, according to LSEG data. With about 30% of constituents reporting results, the blended earnings growth rate sits at 7.7%. Tech goes full speed ahead AI-focused businesses continued to print money in the most recent quarter. Nvidia supplier SK Hynix posted record quarterly profit, boosted by demand for artificial intelligence chips and customers stockpiling ahead of potential U.S. tariffs. Indian IT services provider Infosys raised the floor of its annual revenue forecast range to 1% to 3%, from flat to 3%, matching analyst expectations. "The tech community is going ahead full speed ahead... and banks are in a very strong position now," said Bill George, former chairman and CEO of Medtronic and executive education fellow at Harvard Business School. "Other companies will struggle to get growth." Uncertain consumer Consumer companies have been less upbeat. Nestle, the world's biggest packaged food maker, reported softer demand as it struggled to win thrifty shoppers to its big brands. U.S. airlines Southwest and American Airlines warned that Americans are travelling less, the latest signal that U.S. consumers are remaining cautious about their spending. Toymakers Mattel and Hasbro both said uncertainties around tariffs are acting as a headwind. Carmakers are among firms dealing with the most difficulty. The auto giants are resisting raising prices, eating the cost of tariffs that may cost them millions or billions of dollars. Levies on metals, copper and auto parts made it harder to navigate changing tariff policies. South Korea's Hyundai Motor on Thursday posted a 16% decline in second-quarter operating profit, saying U.S. tariffs cost it 828 billion won ($606.5 million) in the second quarter, with a bigger hit expected in the current quarter. General Motors still expects a $4 billion to $5 billion hit to its bottom line this year. On Wednesday, Tesla Chief Executive Elon Musk said U.S. government cuts in support for electric vehicle makers could lead to a "few rough quarters", as his firm reported its worst quarterly sales decline in over a decade. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Can victims of Jane Street scam be compensated by investor protection funds? Did the likes of TCS, Infosys, Wipro let India down in AI race? How India's oil arbitrage has hit the European sanctions wall Apple has a new Indian-American COO. What it needs might be a new CEO. Stock Radar: Tata Chemicals breaks out from 1-month consolidation; time to buy the dip? Power sector companies: Will they be able to outperform? 5 power stocks with an upside potential ranging from 6 to 29% For risk-takers with long-term perspective: 7 mid-cap stocks from different sectors with upside potential of over 26% Multibagger or IBC - Part 16: Regulatory tailwind turns compliance into cash. This auto ancillary could be a winner
