NYTimes: “Taking both sides of the same bet is usually a wash. But not when there’s a price disparity. If this sounds like printing money, that’s because it basically is. It’s called “arbitrage,” long a favorite strategy of quantitative traders trying to juice profits from the stock market with minimal risk. You buy something at a cheap price, and simultaneously sell it at a more expensive price. It’s a win-win. Some bettors are now using the same strategy to rake in thousands of dollars from online prediction sites. Moving quickly, they can take advantage of price gaps between exchanges like Polymarket and Kalshi, or even between the prediction sites and sports-betting sites like DraftKings and FanDuel. The wider the spread, the bigger the potential profit.”
Arnold Kling: “The general principle is that AI does not replace all humans at a task. But it challenges humans to be at least as good as AI at that task. Those who can rise to the challenge can still do that work. The rest can do other things, but on that task they must step aside and let the AI do it.”
WSJ: “Software developers are on the front lines of these changes. Job openings for software developers through late May are down about 70% from the 2022 peak, although they have improved slightly from a low last spring, according to jobs site Indeed. These postings are also significantly below pre-Covid levels, even as overall job postings across all industries are up slightly since early 2020. While the AI boom is creating opportunities for experienced developers who can help steer and debug the massive outputs of AI coding platforms, there are still many software engineers with decadeslong careers who are seeing their options dwindle. Entry-level candidates are having a tougher-time landing jobs. AI-related layoffs, including thousands recently at Meta, have rattled tech workers at large.”
BCG newsletter: “Strategic clarity with regards to AI boils down to three elements: (1) Focus. Develop a strong vision and carefully choose the workflows where AI can do the most good and create (or strengthen) competitive advantage for the company. (2) Outcomes Over Tasks. Prioritize the value AI creates—speed, cost savings, innovation, for example—over the automation of individual tasks. (3) Team Effort. Understand the impact of AI at a systemic level; look at how teams work and how work can be redesigned.”
