Tuesday, March 19, 2024

Reiterating the importance of an “OFF” switch.

https://www.bbc.com/news/world-68599027

Commercial Bank of Ethiopia glitch lets customers withdraw millions

Ethiopia's biggest commercial bank is scrambling to recoup large sums of money withdrawn by customers after a "systems glitch".

The customers discovered early on Saturday that they could take out more cash than they had in their accounts at the Commercial Bank of Ethiopia (CBE).

More than $40m (£31m) was withdrawn or transferred to other banks, local media reported.

It took several hours for the institution to freeze transactions.





Perspective.

https://www.cnn.com/2024/03/19/business/ai-jobs-economy-productivity/index.html

He predicted the ’08 crash. Now he’s betting AI will turbocharge the US economy

Hatzius told CNN in an exclusive interview that he is very confident AI will significantly accelerate economic growth over time by making workers far more efficient.

I see it as a productivity enhancer,” Hatzius said. “A large number of workers in the economy will become more productive. That is very, very likely.”

That productivity boost is expected to be so significant that it led Goldman Sachs last year to upgrade its long-term US gross domestic product (GDP) forecast.



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