Daily News Pakistan

If a company can survive the upheaval caused by the adoption of artificial intelligence, AI will help it thrive in the longer run, a study presented at a European Central Bank conference has found. Its authors, who used data from the US Census Bureau and surveys covering the period between 2017 and 2021, found early adopters of AI in the manufacturing sector saw their productivity drop as they replaced human workers with robots. Their findings go against prevailing narrative suggesting that AI makes work more productive and "augments" jobs in many cases rather than automating them away. "In the short term, we see a lot of pain," Kristina McElheran, one of the authors of the paper, told the conference. She explained the drop in productivity as a side-effect of AI interfering with manufacturers' established practices, such as keeping low inventories. Over time, however, these firms began outperforming on all counts - sales growth, productivity and employmen...

The United Nations Human Rights Council on Wednesday adopted a resolution presented by Pakistan on behalf of the Organization of Islamic Cooperation (OIC), calling for accountability for Israel and justice for Palestinians in the Occupied Palestinian Territories (OPT), amid the ongoing conflict in Gaza. The war in Gaza, which began in October 2023, has persisted despite multiple international efforts to broker a ceasefire. The Palestinian death toll, according to latest figures, has exceeded 50,000, with women and children making up a large share of the casualties. Thousands remain missing under the rubble of buildings destroyed in Israeli airstrikes. In parallel, there have been mounting reports of harassment, arbitrary detentions, and even sexual assaults against Palestinians in the West Bank and East Jerusalem. “Over the past eighteen months, the Palestinian people under occupation have faced horror upon horror,” Pakistan’s top diplomat at the UN mission in Geneva, Ambassador B...

US President Donald Trump has further escalated the trade war by announcing a baseline 10% tariff on all imports, higher duties on key trading partners of the United States, and a 29% tariff on Pakistan, stressing the country of imposing a 58% tariff on US goods. Trump's decision to slap a 10% tariff on most goods imported to the United States, as well as higher duties on dozens of countries from rivals to allies, has intensified a global trade war that threatens to stoke inflation and stall growth. The sweeping duties announced against the serene backdrop of the White House Rose Garden on Wednesday immediately unleashed turbulence across world markets and drew condemnation from other leaders now faced with the end of decades of trade liberalization that have shaped the global order. As Asia awoke to the news on Thursday, Japan's Nikkei hit an eight-month low while US and European stock futures dropped sharply following weeks of volatile trading. US stocks have erased near...

A Democratic US lawmaker, Senator Cory Booker, shattered a record for the longest speech in Senate history on Tuesday, staying on his feet for more than 25 hours to deliver a fiery protest against President Donald Trump’s “unconstitutional” actions. Booker’s display of endurance — to hold the floor he had to remain standing and could not even go to the bathroom — recalled the famous scene in Frank Capra’s 1939 film classic Mr. Smith Goes to Washington. The longest Senate speech on record before Tuesday was delivered by South Carolina’s Strom Thurmond, who filibustered for 24 hours and 18 minutes against the Civil Rights Act of 1957. Booker, only the fourth Black senator to be popularly elected to the body, blew past that deadline, his voice still strong but emotional as he topped out at 25 hours and five minutes. “Strom Thurmond’s record always… really irked me,” he later told broadcaster MSNBC. “That the longest speech on our great Senate floor was someone who was trying to sto...

OpenAI said on Monday it would raise $40 billion in a new funding round led by SoftBank Group at a $300 billion valuation to advance AI research, expand computational infrastructure and enhance its tools. SoftBank would provide 75 per cent of the funding, according to a person familiar with the matter, with the remainder coming from Microsoft, Coatue Management, Altimeter Capital and Thrive Capital. OpenAI said it looks to deliver increasingly powerful tools for the 500 million people who use ChatGPT every week. Investor enthusiasm for the artificial intelligence sector has surged significantly in recent years, driven by widespread adoption of chatbots and the emergence of sophisticated AI agents. Enterprises have integrated AI solutions to streamline their operations and enhance customer experiences, while venture capital firms compete to back promising AI startups. San Francisco-based OpenAI had closed a $6.6illion funding round in October, which valued the company at $157 bil...

Australia’s cattle country is facing a devastating crisis as severe floods have swept through vast farmlands, causing massive livestock losses. Officials report that more than 100,000 cattle, sheep, goats, and horses have been either swept away, are missing, or have drowned in the disaster. The relentless downpours have submerged extensive grazing lands, leaving farmers helpless as they watch their livelihoods disappear beneath the floodwaters. Eyewitness accounts describe a harrowing scene of animals struggling against powerful currents, with many unable to escape. Aerial footage shows widespread devastation, with entire herds lost to the deluge. Authorities and emergency responders are working tirelessly to rescue stranded livestock and provide relief to affected communities. However, the sheer scale of destruction presents significant challenges, and many farmers fear they may never recover from the losses. For cattle farmers, the disaster is more than just financial—it is an e...

At least 322 children have been killed and 609 injured in the Gaza Strip over the past 10 days following the breakdown of the ceasefire between Israel and Hamas, the UN Children's Fund (UNICEF) said. "The ceasefire in Gaza provided a desperately needed lifeline for Gaza’s children and hope for a path to recovery," said UNICEF Executive Director Catherine Russell. "But children have again been plunged into a cycle of deadly violence and deprivation. All parties must adhere to their obligations under international humanitarian law to protect children," she said. Most of the children killed were displaced, sheltering in makeshift tents or damaged homes, according to UNICEF. The agency also noted that children were among those killed and injured when the surgical department of Al-Nasser Hospital in southern Gaza was struck on March 23. The resumption of Israeli bombardments coupled with a complete blockade on aid since March 2 has put Gaza's civilians, pa...