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NEW RESEARCH FROM GENERATION REVEALS HOW MIDCAREER AND OLDER WORKERS EXPERIENCE ARTIFICIAL INTELLIGENCE IN THE WORKPLACE

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Employers in both the U.S. and Europe predict sharp declines (22%-64%) in hiring for entry-level and mid-level positions over the next 12 months15% of workers aged 45+ across the U.S. and Europe report using AI at work — they are largely self-taught, use it frequently, and see benefitsEmployers are missing an opportunity to benefit from the combination of experienced workers and AI tools 

WASHINGTON, Oct. 9, 2024 /PRNewswire/ — New data from Generation, the global employment nonprofit, unveils trends in how midcareer workers are using and experiencing AI in the workplace.

The report, Age-Proofing AI: Enabling an intergenerational workforce to benefit from AI, was created with grant support from Google.org and The SCAN Foundation. Generation commissioned YouGov to conduct a research study across France, Ireland, Spain, the United Kingdom, and the United States. The survey included responses from 2,610 employees over age 45 working in entry-level and mid-level roles and 1,488 employers and explores the challenges and opportunities facing midcareer and older workers in navigating the rise of AI in the workplace.

With hiring declining, age bias remains pervasive

Employers in the U.S. and Europe predict sharp declines in hiring for entry-level and mid-level positions, with reductions expected to range from 22% to 64% over the next 12 months. This tightening in hiring can have an adverse impact on midcareer and older candidates.

Previous Generation research in 2021 and 2023 showed that employers consistently prefer younger candidates despite the fact that 89% of employers said midcareer and older workers perform as well, if not better, than their younger peers.

The new survey found this ageism amplified in roles that use AI, with employers indicating a preference for younger candidates. In the U.S., 90% of hiring managers are likely to consider candidates under age 35 for AI-related roles, compared to only 32% for those over age 60. In Europe the gap was almost as wide, with 33% likely to consider older candidates and 86% likely to consider the younger group.

Midcareer and older employees’ low use of AI understates the opportunity

Of those surveyed, 15% of workers over age 45 report using generative AI tools at work. The majority of those who do use AI tools are self-taught “power users,” using them multiple times a week if not daily to perform a range of activities. They report positive impacts on their work — with more than half reporting improvements in quality, productivity, and decision-making. A substantial percentage say AI makes their jobs more enjoyable, with 35% of U.S. workers and 58% of European workers citing increased job satisfaction due to AI tools.

However, low levels of use may be understating the growth potential. Older workers may not need to rely on AI as heavily to backfill experience gaps. But their experience and judgment may allow them to write better prompts and interpret results more effectively.

Employers are still exploring what support is most effective to reap the benefits of AI

Nearly half of U.S. hiring managers (47%) and 29% of European employers have begun providing AI tools to their workforce, with many more planning to roll them out in the next 12 months. Over 90% now offer some form of training support for workers using AI. That support takes different forms, with only about 50% saying they offer formal training, and many making self-service or other resources available. 

But employers still have progress to make in identifying what support is most effective and bridging that gap for their employees. In our survey, worker interest in AI was mixed. Out of workers over age 45 not currently using AI tools, 24% in the U.S. and 36% in Europe expressed interest in learning to use them. But another quarter were neutral or unsure, and nearly a third of the nonusers in the U.S. and 17% in Europe declared they are not interested in AI at all. This ambivalence is consistent with recent research that found it isn’t obvious to experienced workers how AI can fit into their work.

This gap points to a need for employers to marry the experience of midcareer and older workers with skills to unlock the full benefit of AI — by finding use cases that incorporate AI into specific roles and experience levels.

You can read the full report here.

Dr. Mona Mourshed, Founding Global CEO, Generation, said:

“While AI has the potential to dramatically alter job tasks and roles, it will be most transformative when its power is merged with human expertise. This data underscores the importance of continuing to combat ageism, and points to an opportunity for us to take a more nuanced view in the AI-infused workplace of how to leverage the unique assets that workers of different ages and experience levels bring to the table.”

Anika Heavener, Vice President, Innovation and Investments at The SCAN Foundation, an independent public charity igniting bold and equitable changes in how older adults age in both home and community:

“This research makes it abundantly clear that AI is already transforming work as we know it, but at the same time, AI implementation has the potential to exacerbate ageism in the workplace. Older workers offer unique skills and experience, and employers need to provide them with the training and support they need to reap the benefits of AI and successfully integrate the technology into their day-to-day jobs.”

SOURCE Generation

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Athlete Career Transition (ACT) Group Ltd, Set to Launch New Digital Platform in the U.S. for Athletes Transitioning to Business Careers

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October 9, 2024

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NEW YORK, Oct. 9, 2024 /PRNewswire/ — Athlete Career Transition (ACT) Group Ltd, co-founded by former professional rugby players Andy and Steve Moore, has officially launched in the United States. ACT is dedicated to being the premier global support system for athletes transitioning from sports to successful careers in business, fostering an inclusive environment where both athletes and businesses can thrive.

“We are excited to introduce ACT to the U.S. market, providing athletes with unparalleled support as they navigate new career paths,” said Andy Moore, Director and Co-Founder of ACT. “Our soon-to-be-launched, innovative platform and commitment to athlete success will redefine how athletes transition into the business world.”

ACT is supported by a team of expert advisors, each offering valuable insights to further the organization’s mission. Key advisors include:

Keith Elias: A former NFL player and current NFL Player Engagement executive, Keith brings firsthand knowledge of athlete career transitions, helping athletes navigate new opportunities beyond sports.Nancy Altobello: Former Global Vice Chair of Talent at EY, Nancy lends her expertise in leadership and talent development to guide athletes through their career transitions.Skip Curth: Partner at EY, Skip provides strategic business insights and supports athletes in building successful post-sports careers.Stephen Smith: A renowned sports psychologist, Stephen offers mental health and performance expertise to help athletes excel during their transition into the business world.

Over the past 14 years, ACT has facilitated successful career transitions for over 500 athletes, including renowned figures such as American, double gold medal winning, Olympic rower Meghan Musnicki, Olympic bronze medal winning fencer Nzingha Prescod, former NFL player Daniel Imatorbhebhe and former MLB player Garrett Giovannelli.

“ACT played a critical role in my shift from the competitive world of NFL to business. Their personalized guidance equipped me with the confidence and tools to succeed in this new chapter of my life,” shared Daniel Imatorbhebhe.

An impressive 94% of athletes who have transitioned through ACT’s programs and partnerships remain in their roles two years after starting, demonstrating the effectiveness and credibility of ACT’s support system.

Global Expansion and Partnerships
ACT is set to broaden its global footprint in 2025, targeting key markets and forming strategic alliances to enhance its impact on athletes worldwide. The organization aims to partner with corporate entities, national governing bodies, sports teams, and athlete associations to create robust networks that facilitate seamless career transitions. These partnerships will further establish ACT as the leading provider of athlete career transition solutions on the global stage, driving innovation and expanding opportunities for athletes to excel in new professional arenas.

Future Goals
By LA 2028, ACT aims to support 1 million athletes as they transition into successful post-sports careers, continuously innovating to ensure each athlete has the resources needed for long-term success.

About Athlete Career Transition (ACT) Group Ltd
Athlete Career Transition (ACT) Group Ltd was created by former rugby professionals Andy and Steve Moore addressing the unique challenges athletes face when entering the corporate world. Over the past 14 years, ACT has supported the career transitions of more than 500 athletes globally, including individuals from the NFL, MLS, MLB, and Olympic sports. ACT is committed to diversity and inclusion, fostering a vibrant ecosystem where athletes and businesses thrive.

For more information, visit athletecareertransition.com

Media Contact:

Sabrina Carrozza
Sabrina@sabrinacomms.com
+1 646 596-2853

 

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SOURCE Athlete Career Transition (ACT) Group Ltd

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Altair and Technical University of Munich Discover Breakthrough in Quantum Computing for Computational Fluid Dynamics

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October 9, 2024

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Research details solutions for several key challenges of quantum computing implementation

TROY, Mich., Oct. 9, 2024 /PRNewswire/ — Altair (Nasdaq: ALTR), a global leader in computational intelligence, and researchers from the Technical University of Munich have made a major breakthrough in the field of quantum computing for computational fluid dynamics (CFD). The breakthrough, published in the journal Computer Physics Communications, presents runnable code for quantum computers and quantum simulators that overcomes several key challenges of the quantum computing implementation of the Lattice-Boltzmann Method.

The paper, titled “Quantum Algorithm for the Lattice-Boltzmann Method Advection-Diffusion Equation,” was developed under a research grant from Altair and driven by researchers from the Technical University of Munich. It is a significant contribution to the field of applied quantum computing that underscores Altair’s commitment to pioneering technologies. The paper was co-authored by Altair Vice President of CFD Solutions Christian Janssen and former Altair Chief Technology Officer Uwe Schramm.

“Altair is committed to pushing the boundaries of simulation technology,” said Christian Janssen, vice president of CFD solutions, Altair. “Our GPU-powered CFD tools have set the standard for efficiency and accuracy. Now, we’re exploring the revolutionary potential of quantum computing to tackle even more complex simulations, opening up new possibilities for innovation in product design and engineering.” 

The research presents, for the first time, a generic quantum CFD algorithm for three-dimensional CFD. The algorithm has the potential to bring fully nonlinear three-dimensional CFD to the quantum world. This is a game changer for next-generation CFD and simulation-based design as the findings demonstrate the tremendous possibilities in terms of model size and scalability that quantum computing offers compared to classical computing. It also reinforces that quantum computing isn’t just theoretical but will become a practical tool to tackle real-world problems. It opens a new realm of possibilities in fields traditionally governed by classical physics, like CFD, by enabling the practical application of quantum computing.

The project’s objective was to develop an algorithm for quantum computational fluid dynamics (CFD) using the Lattice Boltzmann Method (LBM). Making classical CFD compatible with quantum mechanics allows users to leverage quantum computing’s superior processing power for simulations that are exponentially faster and potentially more accurate than classical computations.

Because of its potential to exponentially increase computing speed and enable more complex simulations, quantum computing is expected to have a substantial impact on product development within many industries, namely healthcare, finance, and the natural/life sciences.

“This is an important discovery for both our team and the Altair researchers, one that has the potential to open a new dimension of quantum computing,” said Nikolaus Adams, professor and chair of aerodynamics and fluid mechanics, Technical University of Munich. “We have presented the building blocks for a new generation of quantum computing algorithms, which will hopefully bring more practical quantum computing applications to the forefront in both industry and academia.”

As discussed in a similar paper by the same group of researchers, today’s quantum computing algorithms are developed at the deep machine level by designing quantum circuits. Classical CFD is non-unitary and non-linear, while quantum formulations are unitary and linear. The research found a unitary transformation for classical CFD in addition to developing a machine learning approach for the non-linear aspect.

The paper’s authors include the Technical University of Munich‘s David Wawrzyniak, Josef Winter, Steffen Schmidt, Thomas Indinger, and Nikolaus A. Adams, alongside Janssen and Schramm. All quantum computing was performed at the Leibniz Supercomputing Centre, near Munich, Germany, on the Atos QLM system.

This research is the latest in a string of developments catalyzed by Altair’s investment in quantum computing. Notably, Altair has also invested in Riverlane, a company specializing in making quantum computing more robust and more practical by solving quantum error correction (QEC) challenges. Headquartered in Cambridge, U.K., Riverlane was founded in 2016 and is known for Deltaflow, a unique QEC stack helping quantum computers reach sufficient scale to execute the first error corrected quantum applications.

Click here to read the full paper: “Quantum Algorithm for the Lattice-Boltzmann Method Advection-Diffusion Equation.” To learn more about Altair’s CFD solutions, visit https://altair.com/altair-cfd.

About Altair

Altair is a global leader in computational intelligence that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future. To learn more, please visit www.altair.com.

Media contacts

Altair Corporate

Altair Investor Relations

Bridget Hagan 

Stephen Palmtag

+1.216.769.2658

+1.669.328.9111

corp-newsroom@altair.com

ir@altair.com

Altair Europe/The Middle East/Africa

Charlotte Hartmann

+49 7031 6208 0

emea-newsroom@altair.com

 

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Fortune Announces the 25 Best Places to Retire Affordably

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October 9, 2024

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American Canyon, CA is the best city for cost-effective retirement living

Study finds West Coast and New England locations offer retirees best value 

NEW YORK, Oct. 9, 2024 /PRNewswire/ — Today Fortune launches the inaugural Fortune 25 Best Places to Retire Affordably, showcasing attractive locations across America. The list was created based on a range of socioeconomic factors, including healthcare, wellness, livability, resources for older adults, financial health, geographic desirability (such as climate and proximity to nature), and affordability.

The top 10 includes two California cities: American Canyon, CA (No. 1) and Santa Clara, CA (No. 3). Located in Southern Napa County, American Canyon offers affordable housing near both Napa’s world-class wineries and two beaches, Newport Beach and Huntington Beach. It’s ideal for active retirees, with kayaking, biking, hiking, and golfing options. The city boasts a tight-knit community feel, local events, and proximity to top healthcare facilities.

The runner up is on the opposite coast: Newport, Rhode Island. Its scenic beaches, waterfront walks, and historic mansions provide a peaceful yet engaging atmosphere. Retirees enjoy cliff trail walking, exploring architecture downtown, and dining at waterfront seafood restaurants. Newport also offers a variety of activities, from concerts and fitness programs to fishing and golfing, as well as access to quality medical care and proximity to Providence and Boston. Residents also enjoy Rhode Island’s tax benefits for retirees.

The top 10 Fortune Best Places to Retire Affordably in 2024:

American Canyon, CANewport, RISanta Clara, CABeaufort, SCPortsmouth, NHShoreline, WAMaple Valley, WAScarborough, MEPortland, MELafayette, CO

Alyson Shontell, Fortune Editor in Chief and Chief Content Officer, said, “Where to retire and how to make sure it is affordable is something so many Americans think about – often well before they actually retire. We are excited to introduce this new Fortune list, which we believe will become an annual go-to list providing valuable guidance on where to look and just what affordability means for retirees in today’s economy.”

Alexa Mikhail, Fortune senior wellness reporter, added, “Aspiring retirees have a variety of needs and wants for the place they will call home for the long haul, but it’s evident that easy access to quality health care, community, and outdoor spaces are most commonly sought after.”

To build this new ranking, Fortune conducted an independent evaluation of over 2,000 cities, towns, suburbs, exurbs, villages, and townships with populations of approximately 10,000 or more across all 50 states. Areas where home sale prices exceeded twice the state median were excluded from the final analysis. While affordability is inherently subjective and relative, the ranking includes a broad variety of regions and baseline costs of living, all delivering lifestyle and health value for retirees. The methodology can be found here.

Fortune also worked with several critical data partners—including Caring.com, CVS Health, Healthgrades, Ineedana.com, Sharecare, and Witlytic—that helped provide information for nearly 200 separate data categories in our comprehensive evaluation process. This list is part of Fortune Well, Fortune’s health and wellness hub presented by CVS Health, which features tips and insights working professionals need to thrive in their careers and personal lives.

NOTE: Unforeseen severe weather events have increasingly become a significant factor in considering retirement locations. In recent years, the unpredictability and frequency of such weather phenomena may impact the suitability and safety of various regions. We recommend thorough research to ensure an informed choice that takes into account the potential risks associated with severe weather conditions.

About Fortune:
Fortune is a global multi-platform media company built on a legacy of trusted, award-winning reporting and information for those who want to make business better. Independently owned, Fortune tells the stories of the world’s biggest companies and their leaders as well as a new generation of innovators who are moving business forward. Digitally and in print, Fortune measures corporate performance through rigorous benchmarks, and holds companies accountable, in regions around the world. Its iconic rankings include Fortune 500, Fortune Global 500, Most Powerful Women, and World’s Most Admired Companies. Fortune builds world-class communities by convening industry thought leaders for exclusive summits and conferences, including the Fortune Global Forum and Brainstorm Tech. For more information, visit fortune.com.

Media Contacts:
Chelsea Hudson
Fortune
Chelsea.Hudson@fortune.com

Patrick Reilly
Fortune
Patrick.Reilly@fortune.com

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SOURCE Fortune Media (USA) Corporation

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