Productivity Skills to Help You Gain Time Back
Most of us are incredibly careful about how we spend our money. But when it comes to our time, we hardly give it a second thought. The good news is that there are easy ways to take some of your time back. Process-oriented tasks that can’t be automated should at the very least be delegated or outsourced. If it’s a low-risk, repeatable, non-complex task that somebody else can do for you at fraction of what your hourly rate is, why are you still doing it? Most decisions are reversible and should be made quickly. If it’s not necessary to have a meeting (it’s usually not), use asynchronous communication tools; the reality is that most things don’t require an immediate response. While you’ll initially have to spend some time to make time, like compound interest, over the long-term, you will save exponentially more time than you invest.
^ADJ: Key takeout: Use asynchronous communication
When your cap table makes your startup uninvestable
^ADJ: The importance of strategy around your cap table.
What every CEO should know about generative AI
McKinsey: Generative AI is evolving at record speed while CEOs are still learning the technology’s business value and risks. Here, we offer some of the generative AI essentials.
Americans Now Live Farther from Their Employers
Data from Stanford’s Nicholas Bloom and colleagues shows substantial shifts in where people work. Roughly a quarter of Americans work from home at least once a week, with many living further and further away from the office.
The mean distance from the employer’s location has risen 170% since the beginning of the pandemic, from 10 miles to 27.
- The share of employees living more than 50 miles away has quintupled.
- Those in the highest-earning category (>$250k per annum) have seen the largest change.
- Those aged 25-39 live farthest from their employers, since the pandemic.
Klarna AI assistant handles two-thirds of customer service chats in its first month
Klarna today announced its AI assistant powered by OpenAI. Now live globally for 1 month, the numbers speak for themselves:
- The AI assistant has had 2.3 million conversations, two-thirds of Klarna’s customer service chats
- It is doing the equivalent work of 700 full-time agents
- It is on par with human agents in regard to customer satisfaction score
- It is more accurate in errand resolution, leading to a 25% drop in repeat inquiries
- Customers now resolve their errands in less than 2 mins compared to 11 mins previously
- It’s available in 23 markets, 24/7 and communicates in more than 35 languages
- It’s estimated to drive a $40 million USD in profit improvement to Klarna in 2024
The Cost of Money is Part of the Cost of Living: New Evidence on the Consumer
Unemployment is low and inflation is falling, but consumer sentiment remains depressed. This has confounded economists, who historically rely on these two variables to gauge how consumers feel about the economy. We propose that borrowing costs, which have grown at rates they had not reached in decades, do much to explain this gap.