Tag: workforce

  • Experts advise employees to acquire artificial intelligence training

    Experts advise employees to acquire artificial intelligence training

    Nigerian professionals have been advised on the urgent need to upskill themselves by acquiring knowledge of Artificial Intelligence to improve efficiency in the workplace.

    This advice was given at the Daystar Career Clinic which was themed “The changing phases of career in post COVID/AI world”.

    The conference was organised for forward thinking career professionals across different fields of human endeavours.

    The hybrid event which was attended by participants from across the country, consisted of two speaker sessions and a breakout session for attendees to share challenges faced in their careers, with the aim of arriving at immediate actionable solutions.

    Read also: Ghana To Develop Regulation On Artificial Intelligence

    Why employees need to know AI

    Addressing participants, Leading HR expert, Yemi Faseun, emphasised the world’s attention on technology, particularly Artificial Intelligence (AI), alerting that times are fast changing and career professionals who do not evolve would be left behind.

    “Don’t sit pretty and think that you may be doing the same thing in two or three years. If the world is moving around you and you are not moving with the world, you become a change victim, rather than a change agent.”

    Faseun described AI as an enabler which facilitates the optimization of business operations and employee deliverables. He said the benefits of AI encompass automation of repetitive tasks, aiding efficiency and accuracy as well as augment human productivity. He further highlighted that AI drives more technological advancement across various industries that lead to new solutions for improved human experiences.

    The thought-leader, however, explained that the immense advantages of AI also come with challenges that threaten the jobs of career professionals in certain fields, particularly those engaged in repetitive tasks that AI can efficiently handle. He also stated concerns around security and privacy, fraud, and overdependence on AI systems which are prone to malfunctioning. 

    In response to attendees’ concerns about changing careers, Faseun explained the need to sustain interest and get requisite training. He however emphasised that “… the world doesn’t pay you for certifications. The world doesn’t pay you for another degree. The market pays you for one thing, value.”

    Faseun added that “…the knowledge you take from all your certifications and all that, how you bring it to solve business challenges, that is when we pay you. …find people and businesses already doing the kind of things you want to do and volunteer your time.”

    He therefore advised employees to maximise technology and improve their knowledge on AI.

    “There is only one way to take advantage of these opportunities, if you continue to upskill and re-skill, become technology savvy,” Faseun said.

    Williams Chukwudi speaking virtually, during the Daystar Career Clinic
    Williams Chukwudi speaking virtually, during the Daystar Career Clinic

    On his part, Williams Chukwudi, a business and Leadership coach, charged participants to be conversant with basic AI tools that improve productivity in their various industries, as technology must be embraced in order to experience desired career growth. He enjoined attendees to be wary that despite the interest of many in the need to change, there is a subconscious resistance to the needed change.

    “I tell my clients that you must know at least 30% of the tech tools or tech environment where you are in. …If you are a coach, wherever you find yourself, whatever career you are in, you must know about 30% of your tools that you work with. It is so important. I use that as a baseline for people who feel they do not have the time or they do want to go into this thing completely.”

    Speaking on the advancement in technology, Chukwudi explained the role global crisis have played over the years to bring about solutions that are being enjoyed around the world.

    “Every serious world crisis created a tech solution. Every major world event that had to do with a crisis, created something out of it. In 1721, there was the Boston smallpox epidemic and that was when newspaper print came up. …in 2002 when we had SARS, that was when ecommerce came up, and I asked myself what COVID is going to give us. 

    “AI, I can tell you was born out of COVID. …Every solution that came out of these world crises rapidly grew just like the problem was rapid, Chukwudi said.”

    He highlighted ChatGPT, Gpte.ai, resumeaker.ai, tome, and many other AI tools that can help optimise employees’ work activities for organisational growth.

    During the event, there were four breakout sessions, including career starters, mid-level career professionals, career changers, and legacy builders. Participants had the opportunity to join one of the sessions where they shared their pain points and the facilitators gave possible solutions on how to address those career challenges.

    About Daystar Career Development Programme 

    The event was organised by the Daystar Career Development Programme (DCDP) group, an expression of Daystar Christian Centre charged with the responsibility of organising career growth events to advance the excellence of Christians in the workplace with the ultimate aim of winning souls to Jesus Christ.

  • Luno to lay off 35% of its workforce 

    Luno to lay off 35% of its workforce 

    Luno, a cryptocurrency exchange company, has made the announcement that it will be laying off 35% of its employees. 

    This adds Luno’s name to the growing list of industry players that are dismissing staff due to the bear market. Other players on this list include Coinbase, Crypto.com, Bybit, Huobi, and Gemini, among others.

    “It is with deep regret that I have to announce that we will be reducing our overall Luno team by 35%,” CEO Marcus Swanepoel wrote in a message to Lunauts on the company’s website. The message was directed toward Lunauts in all of the company’s different regions.

    As explanations for why the cryptocurrency industry has been having so much difficulty as of late, he cited the “global economic slowdown,” the “much bigger fall in the tech sector overall,” the “crypto winter,” and other recent occurrences in the field.

    Luno is said to have approximately 960 employees, according to the company profile on LinkedIn. This will have an impact on the employment of more than 330 people.

    Read also: A Global Slowdown Forces Microsoft And Meta To Begin Layoffs

    More On Luno layoff

    The marketing departments of Luno are going to be significantly impacted as a result of the layoffs. A representative for Luno told CNBC that the layoffs will have “little or no impact on core operations, and compliance departments.” CNBC cited this statement as coming from the spokesperson.

    “2022 was an exceptionally challenging year for the technology sector as a whole, and in particular for the cryptocurrency market.” Coinbase laid off 18% of its workforce in 2018, and further 950 employees were let go earlier this month. The cryptocurrency exchanges Bybit (30%), Huobi (30%), BitMEX (30%), and Crypto.com (30%) are also members of this club.

    The struggling Digital Currency Group is the parent company of the cryptocurrency known as Luno (DCG). The company’s headquarters are located in London, but it also has offices in other European countries, Africa, and in South East Asia. DCG, which is just one of the many cryptocurrency organizations that have been caught up in the domino effect of FTX, is currently dealing with a number of problems.

    Microsoft to invest in AI, cutting over 10,000 jobs

    UST and FTX

    The previous year, they laid off 10% of their workforce and discontinued their wealth-management services. Cameron Winklevoss, one of the company’s co-founders, threatened to sue Barry Silbert, the company’s CEO, when Genesis, one of its subsidiaries, filed for protection from creditors under the bankruptcy code.

    In the event that Barry and DCG do not come to their senses and present creditors with a reasonable offer, “we will be initiating a lawsuit against Barry and DCG in the very near future,” he stated.

    The cryptocurrency market had a reasonably calm start to the year, but it suffered its first significant blow when the algorithmic stablecoin TerraUSD (UST) plummeted quickly and unexpectedly. Despite the fact that the value of the coin was intended to be tied to the value of the US dollar, its value plummeted all the way to zero, wiping out 18 billion dollars worth of market cap from the cryptocurrency industry.

    The spectacular fall of UST had an effect on the market as a whole, including crypto lender Celcius. It was accurately described as a “series of shocks” by Luno’s CEO, and it led to the termination of 150 employees.

    The fall of FTX brought about new challenges for an already troubled cryptocurrency market, which had been unsettled by the earlier fall of UST. UST had been the previous exchange that failed.