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'AI Sets Up Kodak Moment For Global Consultants'

2 months 3 weeks ago
An anonymous reader shares a column: As the AI boom develops, consultants are in a tricky spot. The pandemic, inflation and economic uncertainty have encouraged many of their big clients to tighten expenditure. The U.S. government, one of the biggest spenders, has been cancelling multiple billion-dollar contracts in an effort to conserve cash. In March, 10 of the largest consultants including Deloitte, Accenture, Booz Allen Hamilton, IBM and Guidehouse were targeted by the Department of Government Efficiency to justify their fees. As a result, the largest listed players' shares have collapsed by up to 30% in the past two years, against the S&P 500's 50% jump. AI is, in some respects, a boon. In September, Accenture said it had helped it cut 11,000 jobs, and CEO Julie Sweet is set to augment that with staff that cannot be retrained. Salesforce recently laid off 4000 customer support workers. Microsoft has halted hiring in its consulting business. Unfortunately, big clients are cottoning on to the advantages too. One finance chief of a large UK company outlined the issue for Breakingviews via an illustrative example. Say an outsourced project costs the client $1 million to do themselves, and Accenture and the like have historically been able to do the same job for $200,000. With the advent of machine learning, companies can do the same work for just $10,000. This gives clients considerable leverage. If consultants won't lower their prices to near the relevant level, the client can find one who will. Or just do the job itself.

Read more of this story at Slashdot.

msmash

Get ready to squint! World's smallest pixel is just 300 nm

2 months 3 weeks ago
How many 1080p screens can you fit on a pinhead? These German physicists reckon about one

Micro-OLED displays with 1080p (1920x1080) resolution have been around for a few years now, but a group of German researchers has taken things to the next level. They've engineered an OLED pixel so small that an entire 1080p display could fit into a single square millimeter, potentially changing the game for wearable displays.…

Brandon Vigliarolo

Companies Battle Wave of AI-Generated Fake Expense Receipts

2 months 3 weeks ago
Employees are using AI to generate fake expense receipts. Leading expense software platforms report a sharp increase in AI-created fraudulent documents following the launch of improved image generation models by OpenAI and Google. AppZen said fake AI receipts accounted for 14% of fraudulent documents submitted in September compared with none last year. Ramp flagged more than one million dollars in fraudulent invoices within 90 days. About 30% of financial professionals in the US and UK surveyed by Medius reported seeing a rise in falsified receipts after OpenAI released GPT-4o last year. SAP Concur processes more than 80 million compliance checks monthly and now warns customers to not trust their eyes. The receipts include wrinkles in paper, detailed itemization matching real menus and signatures. Creating fraudulent documents previously required photo editing skills or paying for such services. Free and accessible image generation software has made it possible for anyone to falsify receipts in seconds by writing simple text instructions to chatbots.

Read more of this story at Slashdot.

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