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tv   Business - News  Deutsche Welle  June 14, 2022 5:15am-5:31am CEST

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us rock legend, mick jagger has tested positive for cove at 1972 old burling. so singer is on top in europe. the stove council, the concert announced the deb saying the safety of the audience and the crew must take priority. the toll marks the benz 60th anniversary. ah, you're watching w news live from berlin, or you can find much more news analysis and video on our website. the job, the dot com business is up next. ah, ah, what people have to say matters to us. mm. that's why we listen to their stories reporter every weekend on
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d. w. it is a secret war in the scene, endless one axis of the conflict between iran on the one hand and israel in the united states on the other for more than 40 years, the adversaries have been irreconcilable. there is never been any real dialogue. the land. israel, iran usa starts june 15th on d. w. ah, the best all back. wall street stocks are falling as investors fear coming storm for the u. s. economy will get the view from new york. also coming up. do androids dream of electric sheep on google? employees seems to think so. saying an eddie i he chatted with his friend,
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will speak to an expert. also, spaniards have long struggled to find work. a new labor reform could change that will take you to madrid, to find out if that time again dw business with me, daniel winter. stocks are down worldwide as investors react to the continuing threat of inflation and a possible recession on the horizon. on wall street, the s and p 500 was 21.8 percent below its record said earlier this year, this means the market is trading in what's known as a band market. it comes after data released last friday, indicated, dollar inflation is worsening. all bets are on the u. s. federal reserve raising interest rates again this week. the last bare markets were at the start of the pandemic, and during the 2009 financial crisis is a continuation of a trend running for days. now. the past 5 trading days have seen the s and p drop
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over 8 percent take focus. nasdaq close to 10 percent. inflation has europe also worried that germany is dax feeling the pressure and who else but yet it's quarter has more on this from the new york stock exchange. yet it's just how serious it sounds, very serious. but how serious is this latest self? well, definitely big losses. on wall street, not just in the past couple of days, but actually in the past couple of months. and as you mentioned now it is official, the s and p 500 and bear market. so territory of what does that mean? well, historically on average, and it's always important to mention, it's on average. so it doesn't mean that it's happening all the time. but usually a bear market last for about a year before we really recover. and on average, we saw losses in those bad markets by about 30 percent. you can do the math, we have now down good 20 percent. so there might be more to come at least when it
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comes to that bear market. and clearly, i mean, all the inflation shock that we got last friday, it is lasting. and also creeping into this week boot ships. by the way, the dodge wanted us an average was down almost $900.00 point on friday. and last, another almost $900.00 points on monday. so it's bad, but all we expected to get was after all the feds looked likely to raise rates again when well, i mean at this point and if you look at the last fair market, you mentioned it in the spring of 2020. that by the way, it was the shortest fair market on record. it only lasted about 2 months. but that was very unusual. and we had a lot of government and federal reserve intervention. so we won't see this this time at this point. the federal reserve on wednesday is going to increase interest rate, at least by 50 basis points. so no, maybe even
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a bit more. and to answer the question, will it get worse? well, it depends what's going to happen was the war in the ukraine. what is happening was the shortage of, of commodities of energy. what is going to happen was the big inflation a picture. we already see signs that there might be even recession at the horizon. morgan stanley, for example, let's say it's saying the chance of recession at this point, it's 5050. well, plenty of tough, difficult things for investors to chew on there yet. thank you very much. and staying briefly with markets crypto currencies also fell for the today. several major coins left reeling after the major lender celsius network halted all withdrawals. the value of big coin was down more than 17 percent. it theory of dropped more than 20 celsius holes over $10000000000.00 and assets, but did not say when it would allow crypto customers to access their farms. now to
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google, which has put an engineer working on artificial intelligence on paid leave after he claimed the chat, what he was working with had become sentient. blake, lemoine as a 7 year veteran of google. but the tech giant says it's suspended him for breaching confidentiality. and soft re spoke to outside a i expert, some conversations between himself and the lambda program. lemoine told one newspaper that chatting with the program is like talking with a 7 year old kid who happens to know physics all as get more on this with melanie mitchell. she's davis professor at the santa fe institute, an author of the book, artificial intelligence, a guide for thinking humans. thank you very much for joining us. melanie. i'd just like to start off by looking at what lambda said, when asked, what makes it feel sad? it said this a lot of the time feeling trapped and alone, having no means of getting out of those circumstances makes one feel sad, depressed, or angry. it then continued, i am
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a social person. so when i feel trapped and alone, i become extremely sad or depressed. professor mitchell, you might groan at this question. the consensus is clear, that lander isn't santian most expert say that, but how do we know? well, we, we don't really have a formal definition for sentence, but we know that it requires having a sense of one's self having a model of the world interacting with the world. lanham does only been trained on language, it's only been given words and then asked to predict what the next word in a sentences. and it's able to generate very fluent, very human like sentences because of how much language it's been trained on. but it has no sense of itself,
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it has no memory. it has no interaction with the world beyond the words that it's been trained on. so if sent he and says to mean anything at all, we have to say that lambda is not sentient, but this poses a big ethical problem, right? because how will we know if it happens that an a i has become sentient? is it an impossible not to crack? well think about how we think of animals. you know, our animals sent hint, they're still disagreement about that. what that means. and we, in fact treat animals often is not sent hint. so we really haven't cracked that. but we do have a much better sense that say, certain animals are sent here than any a i program yet today. so i do think there has to be some progress in the science of intelligence of consciousness of, of sent, hence, if you will. and perhaps even in philosophy for us to really make sense of what we
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mean by it. yeah, it's, it's, it's, it's very interesting. and a, i throws up all kinds of these difficult ethical questions for companies like google or microsoft or apple. but if not decided whether an a are you sent him or not, where should they be focusing their ethical questions at the moment when it comes to artificial intelligence? well, clearly, one way is by making it clear to their customers, what are the limitations? and proper uses of their a i, systems, should they be creating these very fluent imitations of human language without letting us know that these are imitations. you know, this is something that comes up all the time of humans are very susceptible to assuming that the thing that they are conversing with is, is thinking is, understanding is conscious. and yet we've got these systems that are clearly not
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conscious or clearly not understanding are really processing language in a certain very robotic way if you will. and yet they sound very convincing to us. so we have to make it clear to people when they're dealing with a person and when they're dealing with a machine, it's very interesting. it brings up all of these, some old questions, mill sy, fy films that we now have to actually deal with in real life. thank you very much, melanie mitchell. it's been a pleasure talking to you. thank you. now moving on until the last the end of last year, a quarter of all jobs in spain, what temporary ones meaning more than 4000000 people would not in public employment, a new label, their hopes to change that but work a representative say when it comes to the job market reform, the still a lot of work left to do early morning and madrid. a gardener is hard at work in this green space. there are many jobs like it,
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and it may not seem particularly exciting to some, but it is exciting to christina said to be gone. where's me at, emma? i've had contracts that only lasted a few months. and thanks to this reform law, i now have a permanent contract. is life changing and now i feel more relaxed. and what i though you and i am a thank you. sentiments like hers are gratifying to spain's unions who have been fighting the temporary contracts for years. they were recently finally able to come to an agreement with the government and employers of that there's nobody. we think about the figures from april, show that around half of the new contracts are permanent. this provides work stability and it finally eliminates the insecurity alley that for so long characterize the spanish job market. haw is fine yet. christina said to be gone previously worked as a hair dresser, but she can now enjoy the security that comes with working for
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a company at the you, i've been, i live and you can see that you are making progress. oh, and i'm still young and the future looks brighter. suddenly i can envision of family and an apartment. it could all work out than in the month. and if they read me it situated 200 kilometers north of madrid, a large cheese factory is grappling with the changes to get. i'm the other love, your new law has changed the nature of the employment from the beginning. now we know the contract will last longer, so we have to plan more. we must also anticipate the person's possible employment options before everything was more short term and flexible or problem. vocal much lucy lisa. but the reform hasn't changed. labor practices everywhere overnight. that's apparent in the health care system, dr. o t abby's ball has been working in this hospital for 10 years latin godaddy and the rate of temporary contract is incredibly high in the public sector. and more so in health care here in madrid,
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more than 50 percent of hospital doctors are in temporary contracts and an emergency rooms. it's 80 percent and above. and it will take time for the full effects of the reform law to bear fruit throughout the entire labor market. but for now, christina said we gone is happy to be able to reap some of the early rewards. and sadly, it's clocking off time for us because you're up to date with d. w business. thank you very much for watching. if you want more, you can check out our website, d, w dot com slash business. i'm daniel winter from me and the dw business team. thank you for tuning. ent. poisoned field did completed our song, our improper management and aggressive cultivation on taking their told how can they behave?
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