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For Big Tech, a thirsty generative AI boom presents an increasing challenge
17 May

For Big Tech, a thirsty generative AI boom presents an increasing challenge

ITBusinessInfo@News
An often-overlooked but crucially important environmental issue—Big Tech's growing water footprint—is coming under more public scrutiny as a result of a global rush to capitalize on the next wave of generative artificial intelligence. Researchers say the race to profit from the next wave of AI is one of the main causes of the significant increase in water consumption that tech giants, like Microsoft and Alphabet-owned Google, have recently reported. Shaolei Ren, a researcher at the University of California, Riverside, published a study in April investigating the resources needed to run buzzy generative AI models, such as OpenAI’s ChatGPT. Depending on…
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South Korea prepares a corporate financial support program worth $57 Billion
17 May

South Korea prepares a corporate financial support program worth $57 Billion

ITBusinessInfo@News
A financial support program worth 75.9 trillion won ($56.97 billion) has been prepared by South Korea for companies that are investing more in critical sectors and small businesses that are having trouble paying high-interest rates. The Financial Services Commission said on Thursday that commercial banks will also contribute 20 trillion won to support small and medium-sized businesses. The program includes 15 trillion won in inexpensive policy loans from a state-run bank for important industries, such as semiconductors and batteries. Chairman Kim Joo-hyun stated, "Our banks need to start making efforts to expand support for companies, beyond consumer financing focused on…
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