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Insurers fret over militant attacks, AI hacks at Paris Olympics

LONDON, July 5 (Reuters) - Insurers are nervous that militant attacks or AI-generated fake images could derail the Paris Olympics, risking event cancellations and millions of dollars in claims.

Insurers faced losses after the 2020 Tokyo Olympics were postponed for a year due to the COVID-19 pandemic.

Since then, wars in Ukraine and Gaza and a spate of elections this year, including in France, have driven up fears of politically-motivated violence at high-profile global events.

The Olympics take place in Paris from July 26-Aug 11 and the Paralympics from Aug 28-Sept 8.

German insurer Allianz (ALVG.DE), opens new tab is insurance partner for the Games. Other insurers, such as the Lloyd's of London (SOLYD.UL) market, are also providing cover.

"We are all aware of the geopolitical situation the world is in," said Eike Buergel, head of Allianz's Olympic and Paralympic programme.

"We are convinced that the IOC (International Olympic Committee), Paris 2024 and the national organising committees, together with the French authorities, are taking the right measures when it comes to challenges on the ground."

Are US development jobs falling off a cliff?
Companies are going to have fewer people and fewer layers. Ten years from now, the software development circuit may have fewer jobs, higher salaries, and more product-centric work. The reason behind it is the rapid development of AI, AI has approached human beings at the intelligence level, a lot of work relying on thinking ability may be handed over to AI, while emotion is still the territory of human beings, how to communicate and collaborate is the most important ability in the near future. When Indeed's chart for software development and operations jobs was released, we found that, as the chart shows, there was a peak in early 2022, but after that there was a precipitous decline.
Samsung expects profits to jump by more than 1,400%
Samsung Electronics expects its profits for the three months to June 2024 to jump 15-fold compared to the same period last year. An artificial intelligence (AI) boom has lifted the prices of advanced chips, driving up the firm's forecast for the second quarter. The South Korean tech giant is the world's largest maker of memory chips, smartphones and televisions. The announcement pushed Samsung shares up more than 2% during early trading hours in Seoul. The firm also reported a more than 10-fold jump in its profits for the first three months of this year. In this quarter, it said it is expecting its profit to rise to 10.4tn won ($7.54bn; £5.9bn), from 670bn won last year. That surpasses analysts' forecasts of 8.8tn won, according to LSEG SmartEstimate. "Right now we are seeing skyrocketing demand for AI chips in data centers and smartphones," said Marc Einstein, chief analyst at Tokyo-based research and advisory firm ITR Corporation. Optimism about AI is one reason for the broader market rally over the last year, which pushed the S&P 500 and the Nasdaq in the United States to new records on Wednesday. The market value of chip-making giant Nvidia surged past $3tn last month, briefly holding the top spot as the world's most valuable company. "The AI boom which massively boosted Nvidia is also boosting Samsung's earnings and indeed those of the entire sector," Mr Einstein added. Samsung Electronics is the flagship unit of South Korean conglomerate Samsung Group. Next week, the tech company faces a possible three-day strike, which is expected to start on Monday. A union of workers is demanding a more transparent system for bonuses and time off.
"Pictures on the wall were falling," New Yorkers rattled by earthquake
An earthquake jolted New York City on Friday morning, followed by more than 10 aftershocks which shook New Jersey, sending tremors as far as Philadelphia to Boston and jolting buildings in Manhattan and throughout its five boroughs. The preliminary quake, measuring 4.8 magnitude, centered around Lebanon, New Jersey, approximately 60 kilometers from New York City, with a depth of about 5 kilometers. Following the earthquake, New York City mayor Eric Adams stated at a press conference that no injuries had been reported, but they would continue to monitor and inspect critical infrastructure. The densely populated New York City was caught off guard by the unusual event. Broadcaster CBS reported that New York had not experienced an earthquake of this magnitude since 1884. Residents in Brooklyn expressed their shock when experiencing tremors which shook the city. "At first, I thought it was just construction next door, but then I noticed the pictures on the wall had fallen," Jennifer Wu, a resident in New York, told the Global Times on Saturday. Video footage circulating online showed the Statue of Liberty and the New York City skyline trembling as the earthquake struck. An angle from directly above Lady Liberty caught Ellis Island shaking during the incident. "It is fine," New York's famous Empire State Building posted on social platform X after the earthquake. The United Nations headquarters located in New York was hosting a Security Council meeting on the Israeli-Palestinian issue, and diplomats present in the meeting felt the tremors, local media reported. According to the Weather Channel, residents in Baltimore, Philadelphia, New Jersey, Connecticut, Boston and other areas of the Northeast seaboard also reported shaking. Tremors lasting for several seconds were felt over 200 miles away near the Massachusetts-New Hampshire border. The New York mayor told the press that New Yorkers should go about their normal day, while the governor Kathy Hochul emphasized the seriousness of the situation. She initiated assessments for damage across the state and had discussions with New Jersey Governor Phil Murphy. The quake caused flight delays throughout the New York area, with temporary control measures put in place across New York's John F. Kennedy International Airport, Newark Liberty International Airport in Newark, New Jersey, and Baltimore-Washington's Thurgood Marshall International Airport, checking for damage to runways. Operations resumed around Friday noon, ABC reported.
"Corrupt Politicians GPT" "Fiscal Bill GPT", Kenyan protesters use AI to "protest"
In the past few weeks of anti-government activities in Kenya, AI tools have been creatively used by protesters to serve protests. According to the US "Flag" News Agency on July 5, protests in Kenya triggered by the 2024 fiscal bill are still continuing. In the past few weeks, Kenyan protesters, mainly young people, have creatively developed a series of AI tools to assist anti-government activities. The Kenyan government expressed concern about the risks associated with the use of AI tools in protests. Kelvin Onkundi, a software engineer in Kenya, developed the "Fiscal Bill GPT", which operates similarly to ChatGPT and can receive questions about the fiscal bill and generate responses. Martin Siele, a reporter from the "Flag" News Agency, analyzed: "The 'Fiscal Bill GPT' can convert professional terms in many legislative fields into easy-to-understand information for protesters, helping Kenyans understand the potential impact of the fiscal bill." Another software engineer, Marion Kavengi, developed the "SHIF GPT" to provide Kenyans with information about the upcoming Social Health Insurance Fund (SHIF). In addition to AI tools designed to help people understand controversial policies, protesters have also developed "Corrupt Politicians GPT" to assist protest demonstrations. After entering the name of a politician on the platform, the platform will generate a list of corruption scandals about the politician in chronological order. Developer BenwithSon wrote on the social platform X on June 28: "'Corrupt Politicians GPT' allows people to search for any scandal related to any politician. I have seen some leaders stand at the forefront of the political arena, but they are corrupt behind the scenes." Kenyan Chief Minister and Foreign Minister Mudavadi issued a communiqué to ambassadors of various countries in Nairobi on July 2 local time on protests and relevant government measures, expressing concerns about the use of AI and false information in protests. Mudavadi said: "AI technology is used by people with ulterior motives, which will fill the global information system with false narratives." The Kenya Times reported on June 30 that AI technology enables people to force the government to increase transparency and strengthen accountability, and its role in Kenyan political activities is becoming increasingly prominent. Martin Siller believes that AI is reshaping African political behavior in many ways. AI is a new tool for both governments and opposition parties in Africa, but Kenya is one of the African countries with the most developers, and its young protesters are particularly good at using AI technology to fight the government. The 2024 fiscal bill voted and passed by the Kenyan National Assembly on June 25 clearly stated that additional taxes will be levied to repay the interest on high sovereign debt, triggering large-scale demonstrations. After President Ruto announced the withdrawal of the tax increase bill on the evening of the 26th, demonstrations in many parts of Kenya continued. According to Reuters on July 3, Kenyan anti-government protesters are re-adjusting their activities to prevent the protests from turning into violent incidents.
EV maker Lucid to recall over 5,200 Air luxury sedans for software error, US regulator says
July 9 (Reuters) - Lucid Group (LCID.O), opens new tab will recall about 5,251 of its 2022-2023 Air luxury sedans due to a software error that could cause a loss of power, according to a notice from the U.S. National Highway Traffic Safety Administration published on Tuesday. The regulator added the EV maker will also recall about 7,506 of its 2022-2024 Air luxury sedans due to an issue with a coolant heater that could fail to defrost the windshield. Lucid had released an over-the-air software update in June as a fix for the software error and a separate update to identify a high voltage coolant heater failure and provide a warning to the drivers of the affected vehicles. The company had reported second-quarter deliveries above market expectations on Monday, as price cuts helped boost demand for its luxury electric sedans.