Boeing names Jesus 'Jay' Malave as new CFO
He will succeed Brian West, who served as CFO for four years, Boeing said. West will stay on in an advisory role.
Malave was most recently CFO at Lockheed Martin (LMT.N), opens new tab, and has held senior finance roles at L3Harris Technologies and United Technologies.
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Telegraph
38 minutes ago
- Telegraph
The AI revolution is here to make you stupid
Despite the downsides, AI offers a seductive promise to companies driven by bottom lines: cost-cutting. Yet what may flatter the balance sheet in the short-term could cost them in future. 'Managers tend to systematically underestimate the expertise needed to do the work of their employees, meaning that they may classify more work as replaceable or deskilled than is appropriate,' one metastudy led by Professor Kevin Crowston of Syracuse University cautioned. In seven cases studied by Crowston where AI had been used, six experienced some deskilling, even alongside upskilling and efficiency gains. An examination of call centre staff in the study Generative AI At Work led by Erik Brynjolfsson showed greater gains amongst the lower skilled, penalising the higher skilled. If managers are metric-obsessed, they'll be tempted to dispense with the skilled staff quicker. Once again, the firm deploying the AI becomes less capable and more stupid. In a widely circulated essay that went viral this spring, called The Co-Pilot Delusion, a highly skilled software developer described his experience with an AI assistant he knew was deeply flawed. 'I got lazy. Of course I did,' he confessed. 'When the system forces you to code with a hallucinating clown, eventually you stop resisting. You let him type. You let him be 'productive'. You check out. You surrender your brain to the noise and just float.' Warp speed warning So what to do? In Forster's story, when The Machine glitches people are so in awe of it that they treat the issues not as a crisis but as divine wisdom. They've turned it into a deity. Are we doing the same with generative AI? The novelist Ewan Morrison, whose new thriller For Emma revolves around a fatal AI experiment, thinks so. 'I think we in our naivety have bought into all the hype,' he says. 'But integrating AI into healthcare, the military and education means introducing something with an error rate of between 33pc and 90pc. The Government is introducing factual errors into everything it touches.' Such warnings are falling on deaf ears. Tech companies are in a hurry and have found a willing servant eager to do their bidding in the Labour Government. AI will cut waiting times, identify bottlenecks and even make services 'feel more human', the Government claims in its AI Action Plan. We have even been told that the technology can stop prison riots before they even start, such is its omniscient power. MIT's Kosmyna is sceptical. 'Generative AIs do not show objectively any gain in productivity, any gain in scientific discovery or any gain in employee performance – but we are told we have to implement them in such an aggressive manner,' she says. 'What are we afraid of missing out on, exactly?' While Britain is embracing AI at warp speed, there is a healthier scepticism in Asia than in the technocrat-driven West. 'Tony Blair has been convinced there's a ghost in the machine, but the Chinese, and in Singapore, they don't believe that for one minute,' says Georg Zoeller, a former Facebook engineer based in Singapore who advises governments and is also VP of technology at a healthcare start-up. He adds: 'Eighty per cent of decision makers and people crafting the laws in China are Stem [science, technology, engineering and mathematics] graduates who understand the technology, and the industry is being regulated by the best people, and they are integrated into both policy and technology.' James Woudhuysen, visiting professor of forecasting at South Bank University, agrees with Zoeller that the quality of our policy elites makes them more reluctant to assess societal and human harm. 'There are many more engineers in the upper echelons of Chinese society who understand technology, and understand what AI really is, than there are in Britain,' he says. 'The tendency to personalise or anthropomorphise AI, to see it as a constant and wise friend – that's a Blair legacy. They don't understand technology at all.' A decade ago, the Finnish accountants realised there was something precious in the corporate ether – the company's value was in its intangible knowledge capital. It could not be replicated by software, even if the daily tasks could be. Perhaps if we refuse to believe AI is magic, we'll be wiser about its obvious and not so obvious flaws. Unfortunately, policymakers in the West have been overtaken by a desire to make machines seem magical. If we're getting dumber, then we can hardly blame the AI for that. We've done it to ourselves.
Daily Mail
2 hours ago
- Daily Mail
Zillow CEO reveals what he thinks is the cause of America's 'housing crisis'
Americans everywhere are struggling to purchase homes, with sales reaching a 30 year low in 2024. Despite the tribulations of the housing market itself, the number one real estate site in the country - Zillow - is thriving. CEO Jeremy Wacksman sat down with The New York Times to discuss what may be causing the dip in the housing market and what keeps Zillow afloat amidst it all. The Seattle resident was appointed as CEO a year ago, but has been with the company since 2009. Wacksman added that the major issue with homebuying in the United States is that there is an availability problem. 'We have an affordability crisis, which is driven by an availability crisis. It is a supply-side problem,' he said. While many complain about increasing mortgage rates, he said that it's only a small factor. 'The real problem for a home buyer is home prices are up 30, 50, 70, 100 percent, depending on the market, from pre-pandemic levels. Incomes are not up that much.' According to the US Social Security Office, the average yearly income in 2023 was $66,621, only increasing 4 percent from the year prior. Wacksman noted that if the housing industry had continued to build new properties to keep up with buyer demand, it may not have become the 'crisis' it is today. 'We have been chronically under-building since, really, the global financial crisis,' he said. 'Less supply and a lot of demand is going to keep home prices elevated.' According to Zillow, the average home value is almost $370,000 with just 1.3 million homes in the for-sale inventory. Despite the dip in purchasing and sky-high prices, Zillow is seeing hundreds of millions of unique visitors every month. The company has seen a jump in revenue and its stock is up more than 60 percent. The top site for real-estate listings in the country attracts what the internet has dubbed 'Zillow Surfers.' Those with little to no intention of purchasing a home browse on the website everyday. Wacksman welcomes such browsers. ''Zillow Surfing' is pretty pervasive, regardless of if it's a buyer's market or a seller's market,' he said. 'You spend all this time window shopping and escaping and dreaming. You are getting a little smarter about what you might want, and then something happens and you pull the trigger. 'As a marketer, I don't think you could have a stronger brand endorsement than all of the usage you get from people escaping on your platform.' The way Zillow makes money is by selling ads to real estate companies who want to reach those endlessly scrolling Zillow-surfers. The company requires agents to post listings within 24 hours of being on the market. If not, it's never allowed on the site at all. Real estate companies like Compass have grown wary of Zillow, and even filed a lawsuit claiming they maintain a monopoly, calling it a 'Zillow ban.' But Wacksman said that the lawsuit itself speaks to the larger issues of seller transparency within the United States housing market. 'The heart of the issue is the U.S. real estate market currently exists with a unique amount of transparency,' he said. 'So you and I, as a buyer and seller, can see all available listings, and that empowers us to shop on our own. There are a few companies that are looking to put the internet back in a box and hide inventory and force you to pay them. 'The lawsuit is about challenging that consumer benefit and that transparency.' Now, Zillow is trying to shift toward a 'super app' structure that allows buyers to be connected with any resources that they may need. That includes mortgage providers and rental properties as well as any other related services. The service even offers a three dimensional walk through option to help buyers completely view each property. Wacksman said that marketing a home 'in the broadest sense' is the best way for agents to get the most out of Zillow. Amidst a market low, that may be the best way to break through. 'That's why we spend so much time on the software to help agents do their job well.'
Auto Blog
3 hours ago
- Auto Blog
How Selling European Models Could Revive Nissan In North America
By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Nissan's current situation is troubling Although it's certainly not the most recent news, Nissan's financial struggles are still relevant as the brand rushes to bring out new products, aiming to turn around the Japanese automaker's reputation in North America and to get its balance sheets out of the red. What you may or may not know is that Nissan is partnered with French automaker Renault, and it was announced earlier this month by Fortune that Renault has seen $11.2 billion wiped off the face of the Earth just to cover Nissan's losses. Despite their recent troubles, Nissan's team is making a serious effort to get things back on track, and that all begins with the most important thing: their products. Throughout 2025, Nissan has been rolling out a freshly revamped model lineup, ranging from an updated 2026 Nissan LEAF EV to the burly new Nissan Armada, a full-size body-on-frame SUV with four-wheel drive and a twin-turbocharged V6. A Nissan-Honda merger could be back on the table Watch More 2026 Nissan LEAF — Source: Nissan While Nissan's efforts to refresh and revitalize its lineup haven't gone unnoticed, it's also been glaringly obvious that the brand's product portfolio has a few notable gaps. Buyers and Nissan dealers alike have been urging Nissan to revive the iconic Xterra — a rugged off-roader SUV that once shared its platform with the Frontier pickup truck and competed directly with the Toyota 4Runner. As these overland-ready off-roaders have grown in popularity immensely, it seems like a major missed opportunity for Nissan, especially considering the fact that the Frontier itself received a major update not too long ago. However, I don't think the gaps in Nissan's lineup begin and end with the Xterra, and in fact, it seems there's an entire selection of models that Nissan could offer North American buyers, but simply doesn't. I'm referring to European models, such as those from Renault, Dacia, and even Alpine, which have achieved sales success and critical acclaim across the pond. I can't help but wonder why Nissan doesn't offer European models from its partner companies, which are sure to be popular with American audiences. Using generative text-to-image artificial intelligence, we take an imagined look at what rebadged models from Renault, Dacia, and Alpine could look like rebranded as Nissans for the North American market. These images are purely for speculative and entertainment purposes and in no way reflect any actual Nissan, Renault, Dacia, or Alpine products. Nissan should sell the Dacia Duster in North America 2026 Nissan Duster — Source: Cole Attisha Using Midjourney AI Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Affordable yet rugged crossovers are all the rage right now–just look at Subaru's Wilderness models, Honda's Trailsport editions, and Toyota's TRD Pro versions. Even Nissan is chasing the rugged lifestyle buyers with its Rock Creek Editions and Pro 4X models, and bringing the venerable Dacia Duster stateside with a set of Nissan badges and an updated fascia could make the allure of a tough, utilitarian crossover more accessible to the market. In the United Kingdom, the Dacia Duster has a starting MSRP of just £19,380 (around $26,000 when converted to $USD), meaning Nissan could potentially offer a 130-horsepower mild-hybrid crossover with optional four-wheel drive to American buyers for under $30,000. If that sort of offer couldn't resonate with American buyers, I don't know what would. Nissan Duster Concept — Source: Cole Attisha Using Midjourney AI Additionally, Nissan could offer the Dacia's upgraded, full-hybrid power plant–the turbocharged 1.6-liter 'Hybrid 140' powertrain, which delivers a combined total of 140 horsepower and around 150 lb-ft of torque to all four wheels. A Nissan-branded Dacia Duster could offer a rugged rival to the popular Subaru Crosstrek, albeit with mild-hybrid and full-hybrid powertrain options. Nissan should sell the Dacia Bigster as an American-market X-Trail Nissan X-Trail Concept — Source: Cole Attisha Using Midjourney AI Before the Rogue became the hot commodity it is today, Nissan sold the X-Trail–a boxy, camping-friendly crossover–all over the globe. It was even sold in North America, and was hugely popular in Canada and Mexico, but Nissan decided not to sell it in the USA for some reason. These days, the global Nissan X-Trail is really just the Nissan Rogue that we see (quite constantly) roaming the streets here at home, but I think there's still a market in North America for the type of vehicle that the X-Trail once was. Nissan X-Trail Concept — Source: Cole Attisha Using Midjourney AI Offering boxier proportions and a more rugged four-wheel drive system, the Dacia Bigster-based Nissan X-Trail could be to the Nissan Rogue what the Ford Bronco Sport is to the Escape, or perhaps what the Mazda CX-50 is to the CX-5. Available with either a 140-horsepower turbocharged 1.2-liter three cylinder, or a 155-horsepower 1.8-liter four-cylinder hybrid powertrain, the Dacia Bigster's mechanical guts might win over American buyers left untouched, but I think a more powerful beating heart, such as the 1.5-liter VC-Turbo three-cylinder found in the current Rogue (which makes a stout 201 horsepower and 225 lb-ft of torque), would be a much more suitable motor. Lastly, Nissan should bring the Alpine A110 to North America Nissan A110 Concept — Source: Cole Attisha Using Midjourney AI For years, we've begged Alpine to bring the glorious, turbocharged, mid-engine sport coupe to American roads. Unfortunately, we've yet to see it bless our shores, but maybe Nissan could change that. Now might be the perfect time to do so, considering that Toyota is seriously considering reviving the MR2, and Porsche is converting its Cayman and Boxster models to fully electric powertrains, which will inevitably alienate many of their loyal buyers. A Nissan-branded Alpine A110 in North America could help fill the gap in this desirable segment, putting itself up against the likes of the Lotus Emira and a potentially upcoming Toyota MR2 using its 296-horsepower turbocharged 1.8-liter four-cylinder, mounted behind the cabin, and paired with a seven-speed dual-clutch transmission and rear-wheel drive. Nissan A110 Concept — Source: Cole Attisha Using Midjourney AI Adding the A110 to Nissan's American lineup might not make for a superstar sales success, but it would certainly liven up the image of a brand that was once a champion of fun, affordable sports cars. Perhaps, too, we could see the return of fan favorites like the Nissan Silvia, the Stagea 260RS wagon, and the Pulsar GTI-R. Final thoughts While Nissan dares to think outside of the box to get things back on track, perhaps also thinking inside the box might provide some much-needed help. Rebranding European products from the same brand umbrella is a strategy for automakers that seems as old as time itself, from General Motors selling Opels as Buicks and Saturns in the 2000s to Ford replacing the hot-selling Escape with the European-styled Ford Kuga. I'm rooting for Nissan, and I'm looking forward to seeing how the brand goes about turning things around and returning to profitability, but it'll be a long and winding road to get there. And hey, there's not much else you could ask for on a long and windy road than a mid-engine Alpine A110 ;). About the Author Cole Attisha View Profile
