[ENGLISH / CNN : NEWS 📰 ] Seven Wonders / AI / banking industry

📢  Culture / History 

Traveling To The Seven Wonders

세계 7대 불가사의 여행

 

CNN 10 ANCHOR: Ten-second trivia. Which of these is not one of the new seven wonders of the world? The Great Wall of China. The Taj Mahal, the Colosseum, or the Pyramids of Egypt. 1) Considered a wonder of the ancient world, the pyramids of Egypt are not on the list of new world wonders.

 

A Guinness World record for visiting all seven new Wonders of the World in less than seven days. Well, that's today's story getting a 10 out of 10.

 

Jamie McDonald: “Come on. A new Guinness World record!”


CNN 10 ANCHOR: With only a backpack, British traveler Jamie McDonald, 2) whose alter ego is adventure man, started his trek by walking parts of the Great Wall of China. He traveled to the Taj Mahal in India, the Petra in Jordan, the Colosseum in Rome, then headed to South America to the 3) Christ the Redeemer statue in Brazil, Machu Picchu in Peru, and finished it up at 4) Chichen Itza in Mexico. Nine countries, four continents in less than a week.


And he traveled the 22,000 some miles using only public transportation. 13 flights, 16 taxis, nine buses, four trains, and a toboggan.


Perhaps the most inspiring part when he was nine years old, Jamie was diagnosed with a rare spine disorder, and doctors thought he'd have trouble even walking for the rest of his life.

 

 

단어

trivia : 퀴즈

alter ego : 또 다른 자아

continent : 대륙

toboggan : 토보건 (스키용) 카트

spine disorder : 척추 이상

 

문장

1) 고대 세계의 불가사의로 여겨지는 이집트 피라미드는

2) 모험가라는 별명을 가진

3) 브라질의 구원의 예수상

4) 멕시코의 치첸이트사

 

 

https://cnn.ybmnet.co.kr/cnn_news10/2798

CNN - YBMNET

 

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👩🏻‍💻 Science / Technology 

AI Disrupting Millions Of Jobs?

AI, 수백만 일자리 파괴의 주범?

 

1) Is artificial intelligence coming for your job?
 

"There are growing signs that AI is already disrupting the global workforce, and experts say it's just the beginning."
 

"There are people who will learn to use AI and they will take your job because they will become significantly more productive than you will be if you're not able to partner with an AI model."


Goldman Sachs economist predicting 300 million full-time jobs could be affected by 2) the latest wave of AI, which has created platforms like ChatGPT. And a new analysis estimates nearly 80% of women 3) could be disproportionately affected by the adoption of AI. That's compared to 58% of working men, according to research from the University of North Carolina.


"The world has changed. These are new tools. You can't fear them. You just have to learn to use them."
 

4) All that is already impacting nearly every industry from art and music, where AI-generated songs are more affordable since there's no producer, composer, or artist to pay.

"It's taken away opportunity from songwriters, producers and artists. 5) So the people are trying to feed them their families."


6) The manufacturing sector also seen an impact. And then there's fast food, where AI is ready to take your order.


"Classic or bacon barbecue 'Mother Cruncher'?"


Places like this Checkers Restaurant in Iowa are already using AI for their drive-thru window. 

 

 

단어

disproportionately : 불균형적으로
adoption : 채택

affordable : 감당할 수 있는, 저렴한

since : ~ 때문에

manufacturing : 제조업

 

문장

1) 인공지능이 여러분의 일자리를 빼앗을까요?

2) AI의 최신 기술

3) AI 도입으로 인해 상대적으로 불리한 영향을 받을 수 있다

4) 이러한 변화는 이미 예술과 음악 등 거의 모든 산업에 영향을 미치고 있으며, 프로듀서나 작곡가, 아티스트에게 돈을 지불할 필요가 없기 때문에 더 저렴한 AI가 생성한 노래를 사용하게 되는 것 입니다.

5) 그래서 사람들은 이 부분을 해결하기 위해 노력하고 있지요.

6) 제조업도 영향을 받고 있습니다.

 

 

https://cnn.ybmnet.co.kr/cnn_class/2840

CNN - YBMNET

 

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💵 Economy

Three major risks that have the banking industry on edge

은행 업계를 긴장하게 만드는 3가지 주요 리스크

 

It's been one month since Silicon Valley Bank collapsed, triggering alarms throughout the halls of global finance.

 

실리콘 밸리 은행이 붕괴되며 글로벌 금융계에 경종을 울린지 한 달이 지났다.
 
The initial panic has settled into a more tolerable state of tension. We can all take a deep breath, knowing our money is safe and that banks have the tools they need, courtesy of the federal government, to weather the storm.

 

초기 패닉 상태는 견딜 수 있는 긴장 상태로 안정되었다. 우리는 우리의 돈이 안전하고 은행이 어려움을 이겨내기 위해 필요한 도구(연방 정부의 호의)를 가지고 있다는 것을 알고 심호흡을 할 수 있습니다.

 
"We're going from flashing red lights to flashing yellow lights," Wells Fargo's senior bank analyst Mike Mayo told me recently. "I think it's time for hyper awareness and vigilance to anything else that might further undermine confidence."

 

웰스파고의 수석 은행 분석가 마이크 메이요는 최근 나에게 "우리는 빨간 불빛이 깜박이는 것에서 노란 불빛이 깜박이는 것으로 바뀌고 있다"고 말했습니다. "나는 이제 자신감을 더 떨어뜨릴 수 있는 다른 것들에 대한 경각심과 경계심이 필요한 때라고 생각합니다." 

Regulators and investors are certainly on high alert. And they don't have to look too far to find things to worry about.

 

규제 당국과 투자자들은 확실히 높은 경각심을 가지고 있다. 그리고 그들은 걱정할 것들을 찾기 위해 너무 멀리 볼 필요가 없습니다.

Here's the deal: SVB's red flags — its breakneck growth, lax risk management, and over-reliance on uninsured deposits, among other things — should have been easy to spot before its collapse. Now, everyone's looking for the next risk hiding in plain sight.

거래 내용은 다음과 같습니다. SVB의 위험 신호는 무서운 성장, 느슨한 위험 관리, 무엇보다도 무보험 예금에 대한 과도한 의존도 등 붕괴 전에 쉽게 발견할 수 있어야 합니다. 이제 모두가 눈에 잘 보이는 곳에 숨어 있는 다음 위험을 찾고 있습니다.

A consensus is forming around three key areas that analysts fear could create a systemic problem — commercial real estate, underwater bond portfolios, and the industry with the most metal moniker ever, shadow banks.

 

세 가지 주요 영역, 즉 상업용 부동산, 수중 채권 포트폴리오, 그리고 지금까지 가장 금속 별명이 많은 산업인 그림자 금융 등이 시스템적 문제를 일으킬 수 있다고 우려하는 분석가들의 공감대가 형성되고 있다. 


The toll of the WFH era
 

Commercial real estate — offices, apartment complexes, warehouses and malls — has come under substantial pressure, my colleague Julia Horowitz reports. Commercial property valuations could fall by roughly 20% to 25% this year, according to Rich Hill, head of real estate strategy at Cohen & Steers. For offices, declines could be even steeper, topping 30%.
 

Office properties are a particular pain point here. The average occupancy of offices in the United States is still less than half their March 2020 levels, according to data from security provider Kastle.


About $270 billion in commercial real estate loans held by banks will come due in 2023. Nearly a third of that, $80 billion, is on office properties.


Signs of strain are increasing. The proportion of commercial office mortgages where borrowers are behind with payments is rising, according to Trepp, which provides data on commercial real estate, and high-profile defaults are making headlines. Earlier this year, a landlord owned by asset manager PIMCO defaulted on nearly $2 billion in debt for seven office buildings in San Francisco; New York City; Boston and Jersey City, New Jersey.
 

This is a potential problem for banks, given their extensive lending to the sector. Goldman Sachs estimates that 55% of US office loans sit on bank balance sheets. Regional and community banks — already under pressure after the failures of Silicon Valley Bank and Signature Bank in March — account for 23% of the total.


"I'm more concerned than I've been in a long time," said Matt Anderson, managing director at Trepp.


Unrealized losses


Back when interest rates were near zero, US banks gobbled up long-dated Treasuries and mortgage-backed securities. (And, typically, that's a safe move if you make sure to hedge against the risk of those assets losing value — which SVB did not.)
 

But as the Fed and other central banks have raised interest rates aggressively, the value of those bonds has been eroded.


US banks are now sitting on an estimated $620 billion in unrealized losses — their assets are worth less now than they paid for them, making it a problem if the bank is forced to sell those assets in a crisis (like, say, a bank run).
 

That $620 billion is a conservative estimate, experts say. And it remains unclear where those unrealized losses loom — whether they are spread out across the sector or concentrated among certain kinds of lenders.
 

Shadow banks

 
As we discussed here last week, shadow banking refers to financial institutions that lend out money (like a bank) but don't take deposits from customers.
 

They're a large and diverse cast that includes investment banks, hedge funds, insurance companies, private equity funds, all manner of Wall Street power players.

 
The menacing nickname can be interpreted widely. They're in the shadows because they're unregulated, sure. But are they, like shady? Yes and no. Hedge funds and private equity types get a bad rap that is sometimes deserved, but they also provide financing to young firms that can't get the time of day from regular bank-banks.
 

The key thing to remember is they're not subject to the same strict rules as banks are, meaning they can take on more risk. They also don't get the benefit of a government backstop if the wheels start to come off.


But bank-banks and non-banks overlap in all kinds of real and perceived ways, and when confidence is eroded on either side, that creates a potential for panic to spread.


The mere perception that the banking sector might be connected to a struggling non-bank could spark a broader financial crisis, as my colleague Anna Cooban explains.


Bottom line


One of the many troubling reminders to emerge from the SVB debacle is that banks are big, sprawling operations run by human beings, in service of other human beings, none of whom are entirely rational. That might seem simplistic, but it's especially relevant for an industry as uniquely reliant on trust as banking is.


"This is not a zero-defect industry," Mayo says. "This is an industry that tries to minimize losses of mistakes, just like any other industry...The reality is that there are going to be mistakes."

 

 

단어

settle into : 자리 잡다, 안정되다

tolerable : 견딜 수 있는

vigilance : 경계

undermine : ~의 밑을 파다, 모르는 사이에 해치다

regulators : 규제 당국

breakneck : (과속 등으로) 위험천만의, 아주 빠른, 몹시 가파른

lax : 느슨한

uninsured : 보험에 들지 않은

deposits : 예금

spot : 발견하다, 찾다, 알아채다

consensus : (의견 따위의) 일치, 합의, 일치된 의견, 여론

commercial real estate : 상업용 부동산

underwater bond portfolios : 수중 채권 포트폴리오

shadow banks : 그림자 은행

 

 

문법

1) , (comma) + -ing

- 두 가지 활동이 동시에 일어나고 있을 경우

- 두 번째 문장이 첫 번째 문장의 일부분일 경우

- 두 번째 문장이 첫 번째 문장의 결과 상황일 경우

 

 

 

https://cnn.ybmnet.co.kr/cnn_discussion/2746

CNN - YBMNET