Half of Singapore's finance professionals fear AI job impact despite high digital literacy - TNGlobal

• Five projects based at Irish universities have been selected as recipients of the European Research Council (ERC) Advanced Grant. • Announced on June 23, the funding total is €838 million, distributed among more than 300 researchers globally as part of the EU’s Horizon Europe programme.

• Global tech stocks have plummeted as investor sentiment shifts from speculative AI optimism to a focus on tangible financial returns. • Bank of America's bubble indicator shows the Nasdaq 100 is approaching a 0.8 threshold, signaling elevated short-term tail risk for the market.

• India's IT sector has seen its weight in the Nifty 50 index drop to a record low due to sustained selling. • The decline is primarily driven by investor fears regarding AI disruption, causing the Nifty IT index to sharply underperform.

• Global and Indian stock markets weakened on Tuesday following a massive 10% plunge in South Korea’s Kospi index, which briefly triggered a circuit breaker. • The sell-off in AI-heavy Korean markets led domestic investors in India to book profits, causing the Nifty 50 to drop 278.80 points (1.16%) to 23,824.10.

• JP Morgan reports that while the United States remains the global leader in AI development, China is rapidly closing the gap by producing more cost-efficient models. • Chinese firms are gaining traction in corporate environments by offering AI systems with significantly lower operational costs than American competitors.

• A sudden wave of investor doubt regarding AI chip valuations triggered a global market sell-off, questioning if demand justifies current high share prices. • The volatility was exacerbated by reports that a major Korean chipmaker is slowing production of its most advanced chips, leading to a 10% crash in Seoul.

• Global stock markets experienced a sharp decline on Tuesday, driven by a widespread sell-off in AI-related assets. • South Korea's Kospi index plummeted 10%, triggering a circuit breaker that halted trading for a 20-minute cooling-off period.

• AI-related stocks are experiencing a significant downturn, triggering a return of volatility to global financial markets. • The sell-off heavily impacted Asia on Tuesday, with South Korea's benchmark KOSPI index plunging by 10%.

• Rahul Chadha suggests that South Korea's regulatory crackdown on AI may trigger a "healthy correction" in semiconductor valuations rather than ending the overall market rally. • Market analysts are closely monitoring the AI capital expenditure of major tech firms and the risks associated with leveraged ETFs.

• US stock futures, including the S&P 500 and Nasdaq, plunged as much as 2.5% on Tuesday following a massive sell-off in technology shares. • The downturn was triggered by a sharp 10% crash in South Korea's benchmark Kospi index, signaling a contagion of selling pressure across Asian and US markets.

• Intelligence agencies from the Five Eyes alliance issued a rare joint warning that advanced AI models capable of launching devastating cyber attacks on governments and businesses could arrive within months. • This alert follows a recent U.S. government order requiring Anthropic to suspend access to its most powerful models, Claude Fable 5 and Mythos 5, for all foreign nationals, including Indians.

• Intelligence services have warned that next-generation AI models capable of executing destructive cyberattacks are expected to launch within a few months. • The US has restricted access to Anthropic's new Claude Mythos model due to its breakthrough ability to identify complex system vulnerabilities and automatically generate exploit code at an unprecedented scale.