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Klaus Schwab, founder of the World Economic Forum, whose annual gathering of business and political leaders in the Swiss mountain resort of Davos became a symbol of globalisation, has resigned as chair of its trustees. The Geneva-based WEF made the announcement on Monday after revealing earlier this month that the 87-year-old Schwab, who for decades has been the face of the Davos get-together, would be stepping down, without giving a firm timeline. “Following my recent announcement, and as I enter my 88th year, I have decided to step down from the position of Chair and as a member of the Board of Trustees, with immediate effect,” Schwab said in a statement released by the WEF. The forum did not say why he was quitting. The WEF board said in the statement it had accepted Schwab’s resignation at an extraordinary meeting on April 20, with Vice Chairman Peter Brabeck-Letmathe serving as interim chairman while the search for a new chair began. The German-born Schwab established the WEF in 1971 with the aim of creating a forum for policymakers and top corporate executives to tackle major global issues. The village of Davos gradually became a fixture on the international calendar in January when political leaders, CEOs and celebrities got together in discreet, neutral Switzerland to discuss the agenda for the coming year. CRITICISM Widely regarded as a cheerleader for globalisation, the WEF’s Davos gathering has in recent years drawn criticism from opponents on both left and right as an elitist talking shop detached from lives of ordinary people. Headquartered above Lake Geneva at the other end of Switzerland from Davos, the WEF has also had to cope with negative reports about its internal culture. The Wall Street Journal last year said the WEF’s board was working with a law firm to investigate its workplace culture, after the newspaper reported allegations of harassment and discrimination at the forum. The WEF denied the allegations. Shaken by the 2007-2009 global financial crisis, the WEF has also been buffeted by geopolitical tensions since the 2022 Russian invasion of Ukraine and more protectionist U.S. trade policies. Some analysts see it as an institution in decline. Schwab anticipated globalisation would come under fire long before Donald Trump first won the U.S. presidency and Britain voted to leave the European Union in 2016, events which analysts attributed to discontent with the prevailing economic order. “A mounting backlash against (globalisation’s) effects, especially in the industrial democracies, is threatening a very disruptive impact on economic activity and social stability in many countries,” Schwab and his colleague Claude Smadja jointly wrote in an opinion piece in 1996. “The mood in these democracies is one of helplessness and anxiety, which helps explain the rise of a new brand of populist politicians.” Dave Graham, Reuters
Category:
E-Commerce
Google will confront an existential threat Monday as the U.S. government tries to break up the company as punishment for turning its revolutionary search engine into a ruthless monopoly.The drama will unfold in a Washington courtroom during the next three weeks during hearings that will determine how the company should be penalized for operating an illegal monopoly in search. The proceedings, known in legal parlance as a “remedy hearing,” feature a parade of witnesses that includes Google CEO Sundar Pichai.The U.S. Department of Justice is asking a federal judge to order a radical shake-up that would ban Google from striking the multibillion dollar deals with Apple and other tech companies that shield its search engine from competition, share its repository of valuable user data with rivals and force a sale of its popular Chrome browser.The moment of reckoning comes four-and-half-years after the Justice Department filed a landmark lawsuit alleging Google’s search engine had been abusing its power as the internet’s main gateway to stifle competition and innovation for more than a decade.After the case finally went to trial in 2023, a federal judge last year ruled Google had been making anti-competitive deals to lock in its search engine as the go-to place for digital information on the iPhone, personal computers and other widely used devices, including those running on its own Android software.That landmark ruling by U.S. District Judge Amit Mehta sets up a high-stakes drama that will determine the penalties for Google’s misconduct in a search market that it has defined since Larry Page and Sergey Brin founded the company in a Silicon Valley garage in 1998.Since that austere start, Google has expanded far beyond search to become a powerhouse in email, digital mapping, online video, web browsing, smartphone software and data centers.Seizing upon its victory in the search case, the Justice Department is now setting out to prove that radical steps must be taken to rein in Google and its corporate parent, Alphabet Inc.“Google’s illegal conduct has created an economic goliath, one that wreaks havoc over the marketplace to ensure that no matter what occurs Google always wins,” the Justice Department argued in documents outlining its proposed penalties. “The American people thus are forced to accept the unbridled demands and shifting, ideological preferences of an economic leviathan in return for a search engine the public may enjoy.”Although the proposed penalties were originally made under President Joe Biden’s term, they are still being embraced by the Justice Department under President Donald Trump, whose first administration filed the case against Google. Since the change in administrations, the Justice Department has also attempted to cast Google’s immense power as a threat to freedom, too.“The American dream is about higher values than just cheap goods and ‘free’ online services,” the Justice Department wrote in a March 7 filing with Mehta. “These values include freedom of speech, freedom of association, freedom to innovate, and freedom to compete in a market undistorted by the controlling hand of a monopolist.”Google is arguing the government’s proposed changes are unwarranted under a ruling that its search engine popularity among consumers is one of the main reasons it has become so dominant.The “unprecedented array of proposed remedies would harm consumers and innovation, as well as future competition in search and search ads in addition to numerous other adjacent markets,” Google lawyers said in a filing leading up to hearings. “They bear little or no relationship to the conduct found anticompetitive, and are contrary to the law.”Google also is sounding alarms about the proposed requirements to share online search data with rivals and the proposed sale of Chrome posing privacy and security risks. “The breadth and depth of the proposed remedies risks doing significant damage to a complex ecosystem. Some of the proposed remedies would imperil browser developers and jeopardize the digital security of millions of consumers.”The showdown over Google’s fate marks the climax of the biggest antitrust case in the U.S. since the Justice Department sued Microsoft in the late 1990s for leveraging its Windows software for personal computers to crush potential rivals.The Microsoft battle culminated in a federal judge declaring the company an illegal monopoly and ordering a partial breakup a remedy that was eventually overturned by an appeals court.Google intends to file an appeal of Mehta’s ruling from last year that branded its search engine as an illegal monopoly but can’t do so until the remedy hearings are completed. After closing arguments are presented in late May, Mehta intends to make his decision on the remedies before Labor Day.The search case marked the first in a succession of antitrust cases that have been brought against a litany of tech giants that include Facebook and Instagram parent Meta Platforms, which is currently fighting allegations of running an illegal monopoly in social media in another Washington D.C. trial. Other antitrust cases have been brought against both Apple and Amazon, too.The Justice Department also targeted Google’s digital advertising network in a separate antitrust case that resulted last week in another federal judge’s decision that found the company was abusing its power in that market, too. That ruling means Google will be heading into another remedy hearing that could once again raise the specter of a breakup later this year or early next year. Michael Liedtke, AP Technology Writer
Category:
E-Commerce
In the past year, Ive worked with job seekers, HR teams, and tech leaders, navigating everything from résumé optimization to the ethics of AI in hiring. And Ive seen a clear pattern emerge: Candidates are using AI more than ever, and sometimes in ways that backfire. The tools are smarter. The competition is fiercer. Used well, AI can be your most powerful copilot. Used poorly, it can quietly disqualify you before a human ever sees your name. Here are five of the most common AI-related job search mistakes I see, along with one bonus pitfall you may not realize you’re making. Mistake 1: Relying on AI to Write Your Entire Résumé or Cover Letter AI résumé and cover letter generators promise to help you create professional documents quickly. But these tools often generate generic content based on keywords, which can make your application blend in with the rest. Yes, with a single ChatGPT prompt, you can have a résumé draft in 30 seconds. But if you stop there, youre hurting your chances. Remember: AI-generated résumés read like they were written by a robot, because they were. Why its a problem: AI can help you with structure and grammar, but it cannot capture the nuances of your personal brand or unique career story. Worse yet, you also risk having a nearly identical résumé as another applicant because you are all asking for the same keywords/skills. Solution: Use AI to improve rather than replace your writing processfor example, to check for grammar errors, suggest keywords, or guide you to quantify your impact further. But make sure to personalize the content with specific examples from your own career. Your résumé should reflect your unique journey, not just a collection of skills and accomplishments with AI-generated words in between. Mistake 2: Using AI to Apply for Jobs on Your Behalf Without Customizing Your Application AI tools like job application bots can now apply for thousands of jobs on your behalf, filling out applications and submitting résumés for you. While this may save you time, it can also lead to oversaturation and missed opportunities. Why its a problem: These AI tools are good at mass applications but are not great at tailoring your application to each job and company. Customization is key when it comes to standing out in this crowded job market. An AI application will often lack the personalized touch that hiring managers value, and it wont allow you to highlight specific aspects of your experience that align with the companys culture and needs. Solution: Use AI to help identify relevant job openings, but take the time to customize your applications. Craft a personalized cover letter and tweak your résumé to reflect the most relevant skills and experiences for each job. Even a few tailored adjustments can make a huge difference in catching a hiring managers eye. Mistake 3: Letting AI or Deepfakes Do the Interview for You Yes, weve entered that chapter. Some candidates are now using AI tools to generate real-time answers during live chat interviews and in extreme cases, deploying deepfakes to complete asynchronous video screenings. Even if you make it through the first round or get hired, consider this: What will you do on the job? Why its a problem: AI-driven interviews and deepfakes can make it easier for candidates to present themselves in an overly polished or dishonest way. While you might pass the screening, the real challenge comes once you’re on the job. Most companies now prohibit pasting confidential or company-specific info into public AI tools like ChatGPT. So even if youre AI-savvy, the tools you used to land the role may not be available on the job. If you oversell your capabilities or rely on tools you wont have access to later, you risk being fired or flagged early in onboarding. Solution: While it might be tempting to rely on AI to enhance your interview performance, remember that authenticity is now paramount. Use AI to prep, not perform. Practice interview questions, refine your examples, and improve how you tell your story using AI, but never fake it. The risk isnt just not getting the job. Its losing your reputation. Mistake 4: Overinflating Your Experience with AI Polish AI tools can help you highlight your accomplishments and frame your experiences more effectively, but theres a danger in overinflating your role or contributions. While its tempting to use AI to embellish your résumé or cover letter, its important to remember that overstatement will be quickly exposed, not only in interviews, but also through informal back-channel checks. Why its a problem: Hiring managers often reach out to former colleagues, managers, or industry connections to gather informal insights about candidates. Even if theyre not conducting formal reference checks, these casual conversations can reveal discrepancies between your résumé and the reality of your work experience. If your claims dont match the reality of how you were perceived in previous roles, it could harm your credibility and disqualify you immediately. Solution: Focus on being authentic and accurate when detailing your experience. Use AI to help articulate or reframe your achievements but ensure that everything you list is something you can back up with real examples. Honesty and transparency go a long way in establishing trust with hiring managers. Mistake 5: Underestimating the Power (and Liability) of Your Digital Presence AI tools may help you land interviews, but they can also scan your LinkedIn profile or social media accounts as part of the screening process. Its not enough to just have a résumé. Your online presence is increasingly scrutinized by employers. Why its a problem: If your LinkedIn profile doesnt match your résumé, at minimum, it can confuse hiring managers. AI wont just look at your résumé. Now its scanning your digital presence on all platforms. If you have once posted something negative about your potential employer as a customer, it can be flagged and prevent you from landing an interview. Solution: Ensure that your LinkedIn profile is up to date, fully aligned with your résumé, and clearly highlights your relevant skills and accomplishments. Create a compelling headline and summary that clearly state what you do and what youre looking for. Share posts that demonstrate your expertise and thought leadership. Clean up any social media posts that might paint an inaccurate or outdated picture of the current you. Remember, your LinkedIn is an extension of your résumé and should reflect your personal brand authentically. Bonus Mistake: Ignoring the Human Side of the Job Search Heres the reality: Many jobs arent filled through cold applications. Some jobs are never even listed on job boards. Theyre filled through referrals and networking. AI cant replace genuine relationship building, and it shouldnt. You should use AI to help you research target companies, suggest outreach messages on LinkedIn, or prep for networking calls and coffee chats. Then, go out there and attend events. On LinkedIn, you can comment thoughtfully on industry conversations and start building relationships with those who might someday become the hiring manager of your dream job. Remember, networking is expanding who you know and having a strong personal brand online expands who knows you. Both will enhance your chance of getting hired in this market. Final Thoughts: Stay Human and Stay Authentic My advice as an AI expert? Embrace AI as a tool to enhance your job search but always maintain authenticity and integrity. Let it help you shine brighter, not become a distorted version of yourself. Your skills, experience, and passion are what will ultimately land you the right job. Don’t let AI derail that by turning you into someone you’re not.
Category:
E-Commerce
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