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The <keyword id="1370377" type="General" weightage="20" keywordseo="BPM-industry" source="Orion">BPM industry</keyword> in India is at the cusp of a transformation and the demand for AI-enabled talent is set to surge, redefining workforce needs across the sector. “My spectrum tells me, in the next 3-5 years, there’s going to be an uptick in AI-enabled workers till the time that models stabilise,” said Nitasha Atreya, the Head of Transformation, Digital Operations and Platforms at Wipro, during a panel discussion on “AI-Ready <keyword id="20041791" type="General" weightage="20" keywordseo="bpm" source="keywords">BPM</keyword> Industry in India,” hosted by Business Insider India. While AI has the potential to streamline many business processes, industry experts caution against relying solely on AI. Human intervention is still required, which means skilling new talent and upskilling existing talent is vital to leveraging AI effectively. Investing in these areas allows organisations to better meet evolving demands with a workforce that complements AI-driven solutions. <div type="Youtube" id="3ewvUSYfG1M" title="Al-Ready BPM Industry In India" thumbUrl="https://i.ytimg.com/vi/3ewvUSYfG1M/mqdefault.jpg"><url><![CDATA[https://www.youtube.com/watch?v=3ewvUSYfG1M]]></url></div> <h2>Why human intervention is critical</h2>As the demand for AI and generative AI models is rising among BPM clients, particularly for model-building capabilities, so is the demand for AI-skilled workers. “For us to have the right intervention for human-in-the-loop processes, it’s essential that we develop an AI-enabled workforce,” Mythily Ramesh, Co-Founder and Director of NextWealth told Business Insider. Ramesh shared industry projections that estimate AI could create up to 100 million jobs globally. AI models generate predictions based on historical data and probabilities, but human oversight is essential to ensure accuracy and minimise errors. “AI as an enabler or augmenting the human workforce is probably the way this industry is going to progress. With the risks that are associated with completely leaving AI to replace humans – it’s just not going to work,” explained <keyword id="23987938" type="General" weightage="20" keywordseo="sundar-hariharan" source="keywords">Sundar Hariharan</keyword>, Vice President of Digital Business Experience Centre at Alorica IQ. <h2>Shaping the future of AI And BPMs with collaborative intelligence</h2>The panellists emphasised a significant challenge in AI model development: only 1 in every 100 models actually makes it to deployment. For all of these models, a rigorous process of training and fine-tuning is required, using either synthetic or human-generated data. This process is not just about feeding the model data but also validating the output to ensure it functions as intended. “There’s a lot of requirements for data training and validation,” said Ramesh, highlighting the substantial demand for data annotators, labelers, and specialists in areas like image and video annotation. These roles are crucial for ensuring that the data used to train models is of high quality and accurately reflects the task at hand. However, the skills required for these roles go beyond traditional data labelling. The workforce must move away from rigid Standard Operating Procedures (SOPs) and understand the context in which data is being used. This requires employees to make judgement calls that help refine the model’s performance, adapting to continuously evolving instruction sets. "It’s collaborative intelligence—human intelligence combined with artificial intelligence," Ramesh noted. To address this evolving demand for skills, companies like Wipro have implemented comprehensive upskilling programs. These programs are tailored to different business segments, from basic AI awareness (AI 101) to advanced training for developers, engineers, and architects—those working directly on the models. Atreya shared that over 10,000 developers and engineers at Wipro are currently receiving training across these programs. <h2>AI’s role in transforming BPM operations</h2>According to Suhrid Brahma, the Chief Technology Officer at WNS Global Systems, the core model of the BPM industry is changing. “There is a shift from focus on people, to outcomes and value-add as an industry,” he said. He outlines a three-part strategy for the upgrades needed in AI-driven BPM, beginning with AI in operations. By building an AI-skilled workforce and maintaining a ‘human in the loop’ approach, organisations can maximise the value of AI while keeping essential human oversight. The second area is AI for applications and platforms. Each BPM deal has a technological component, which varies from client to client, but AI should be woven directly into these enterprise systems to ensure seamless functionality. Lastly, he highlights AI’s evolving role in analytics, shifting from retrospective analysis to providing predictive insights that drive proactive decision-making across the organisation. “This whole industry will grow for sure. But the nature of work we do, the kind of value-add we do for clients and the kind of outcomes we deliver as an industry, will definitely change,” Brahma noted. <h2>Navigating an evolving AI landscape in BPM</h2>As AI continues to reshape BPM, the nature of customer needs is also changing. With AI, businesses now have the potential to drive end-to-end process automation, where one part of the process is handled by the BPM organisation and the other by the client, fostering a more collaborative approach to AI adoption. Hariharan noted that BPM providers are transitioning into more tech-driven organisations, as AI increasingly becomes a key enabler of business processes. However, the road to AI integration is not without challenges. Atreya pointed out several challenges like siloed technology limiting the potential of AI to drive meaningful results. Atreya highlighted that siloed technology often limits the ability of AI to drive results. Organisations must assess whether they are AI-ready, with a mature data infrastructure and robust data availability. According to her, the most pressing concern remains ensuring ethical and responsible AI deployment, as new regulations continue to evolve. For sectors like BFSI, tech integration is already advanced, but industries like logistics have an opportunity to leapfrog by integrating systems and running processes end-to-end with AI, according to Brahma. He emphasised the importance of data integration to fully benefit from AI. Looking ahead, the panellists see huge opportunities in sectors like e-commerce and automotive, where AI-driven services are changing the landscape. The key to success will be collaboration, integration, and a well-trained workforce prepared to drive this AI-enabled transformation. This article is part of a four-part webinar series in partnership with nasscom. These monthly webinars aim to delve deep and offer insights into the evolving BPM landscape. You can watch the full video of the third session <a href="https://youtu.be/3ewvUSYfG1M">here</a>. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on <a href="mailto:insiderstudios@businessinsider.in">insiderstudios@businessinsider.in</a>

India's BPM industry to see sharp demand for AI-skilled talent over the next 3-5 years

<ul class="summary-list"><li>The stock market is still vulnerable to a sell-off similar to the one seen earlier in August, Deutsche Bank said.</li><li>Stocks fell sharply earlier this month, driven by a weak economic data and recession fears. </li></ul>August's seismic plunge in stocks was a short-lived experience, and the market is still vulnerable to a repeat episode, Deutsche Bank said in a new research note.<a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-selloff-today-jobs-report-recession-unemployment-tech-earnings-2024-8">Major indexes tumbled</a> earlier this month after a series of disappointing economic data and weak tech-company earnings. The <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-crash-yen-carry-trade-unwind-fed-japan-rates-2024-8">unwinding of the Japanese yen carry trade</a> compounded the situation.While markets have since recovered, catalysts behind the retreat haven't necessarily evaporated, DB wrote. The firm outlined five key risks that remain that investors should watch:First, equity valuations are still at historic highs, with the market trading in moderately overweight territory, the bank said. This made some on Wall Street uneasy even before August's sell-off and continues to be a <a target="_blank" href="https://www.businessinsider.com/sp500-index-funds-stock-market-valuations-cape-ratio-future-returns-2024-8">point of anxiety</a> as investments pile in.Second, economic data remains vulnerable. Part of the reason equities dropped dramatically in August was a <a target="_blank" href="https://www.businessinsider.com/unemployment-rate-job-growth-july-labor-market-economic-data-2024-7">softer-than-expected</a> nonfarm payrolls print, which disappointed estimates of 194,000.This was an unwelcome sign of weakness, but not a recessionary reading, DB said. That leaves room for even more disappointing data, which could bring larger consequences to investors if it were to happen.Third, monetary policy is getting increasingly tight on real terms, with DB noting that the real Fed funds rate recently hit its highest since 2007.Fourth, September has been a seasonally bad month for stocks over the past few years. The S&amp;P 500 has fallen during the period for four straight years, and in seven of the past 10. DB says it's also been a bad month for fixed income, with the Bloomberg global bond aggregate falling during the past seven Septembers.Fifth, geopolitical tensions are still high. DB notes that Middle East conflicts contributed to an equity sell-off in April, while oil prices also hit their highs for the year around the same time.More recently, in August, oil saw their biggest single-day spike of the year on reports of further escalation, the firm said.

5 reasons why stocks are still at risk of another sharp sell-off, Deutsche Bank says

Men are ruling red-carpet fashion at the 2024 Venice International Film Festival with sharp suits and $23,000 watches

<ul class="summary-list"><li>Wall Street's fear gauge has reversed course after a historic surge earlier this week.</li><li>The VIX hit its third-highest level ever on Monday due to a violent unwind of the yen carry trade.</li></ul>The historic surge and subsequent decline of Wall Street's fear gauge suggests that the worst of the stock market's "growth scare" is over.That's according to Fundstrat's Tom Lee, who said in a Wednesday note that the CBOE Volatility Index, better known as the VIX, is behaving like a bottom in the stock market is in.The VIX made history on Monday <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/buy-defensive-stocks-to-weather-historic-stock-market-volatility-bofa-2024-8">when it soared a record 172% intraday to the 65.73 level,</a> representing its third-highest level ever. The surge came amid <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-crash-yen-carry-trade-unwind-fed-japan-rates-2024-8">a violent unwind of the yen carry trade,</a> which knocked down risk assets across the globe.The only time the VIX hit a higher level was at its 89.53 peak reached during the Great Financial Crisis in October 2008 and its 85.47 peak hit during the COVID-19 pandemic in March 2020.But since hitting its third-highest level ever on Monday, <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-today-whiplash-sends-indices-up-in-major-rebound-2024-8">the VIX has sharply declined,</a> falling from 65.73 to 27.71 on Tuesday, representing a peak-to-trough decline of 58%. Still, it remains markedly above where it was trading prior to the market sell-off."VIX falling from 66 to 27 is a positive sign and further sign this is a 'growth scare' with the worst likely behind us," Lee said, adding that the normalizing VIX affirms that the stock market plunge over the past week is not a systematic crisis.<div type="image" title="VIX" height="552" width="672" msid="112353436" hostid="261" sizebytes="14026"></div>On a closing basis, the VIX closed down 28.2%, representing its second-sharpest daily decline on record, only being eclipsed by the 29.6% decline seen on May 10, 2010, which was the trading day after <a target="_blank" class="" href="https://www.businessinsider.com/the-secs-report-on-the-flash-crash-is-going-to-blame-the-same-firm-we-blamed-5-months-ago-waddell-and-reed-2010-10">a flash crash</a> sent the Dow Jones Industrial Average plunging about 9% in a matter of minutes.Fundstrat's new note from Wednesday referenced commentary from last Friday suggesting stocks could bottom this week. At that point the VIX was up 65% over the course of three days. Note that it spiked another 65% on Monday as the S&amp;P 500 saw its worst day in two years.The firm's finding showed that since the VIX's inception in 1990, there have been nine times when the VIX saw a three-day surge of more than 65% and closed above the 25 level.In nearly half of those instances, stocks found their bottom within a few short days and the <a target="_blank" class="" href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> delivered a three-month median return of 7% over the next three months with a 100% win rate."Whenever the VIX surges like this, half the time you're at the end of a decline and you bottom within two days, so I think the rally that started today kind of falls within those parameters," Lee said in a video update to clients on Tuesday.Since the VIX peaked on Monday, the S&amp;P 500 has rebounded 4% while the Nasdaq 100 is up about 5%.Looking ahead, lower interest rates have long been viewed as a positive catalyst for stocks. As of right now, investors expect the Fed to cut rates by 100 basis points between now and the end of the year, according to the <a target="_blank" class="" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME FedWatch Tool</a>."There is going to be a real cost of money decline," Lee said, which should "benefit tremendously" for consumers taking out home loans, auto loans, and other types of lending vehicles like credit cards and business loans."Bottom line, markets are certainly showing strong signs of gaining their footing. And we also view this panic as ultimately being a growth scare," Lee said.

A sharp reversal in the stock market's fear gauge means the worst is over for investors, Fundstrat says

<ul class="summary-list"><li>Russia's economic expansion will drop off sharply after this year, the country's central bank said.</li><li>GDP could fall from as much as 4% to as low as 0.5% in 2025, the report said.</li></ul>Russian wartime growth will stagger next year as labor and sanction issues wear down the "overheating" economy, the country's central bank said in its annual report.Although GDP is projected to expand as much as 4% this year, state and consumer demand have by now outstripped supply, the Central Bank of Russia said.The report, cited by the <a target="_blank" href="https://www.ft.com/content/553c50cf-aa2c-41bc-8f4c-f8f24cee2b1a">Financial Times</a>, expects growth to reach the 0.5%-to-1.5% zone in 2025, and be 1% to 2% in 2026."Available production capacity is depleted," bank deputy governor Alexei Zabotkin told reporters last week. "The pace of expansion is held back by sanctions barriers and by physical limitations on the output of the means of production. The economy needs additional labor for this as well."He added that labor shortages had "significantly worsened."This dilemma first cropped up after Russia invaded Ukraine in 2022, committing part of its workforce to the front lines. Last year's forced mobilization order made the deficit more severe, as <a target="_blank" href="https://markets.businessinsider.com/news/currencies/russian-economy-record-worker-shortage-sanction-ukraine-war-labor-exodus-2023-4?_gl=1*esjdrx*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyNTM2NDU1OC41NTkuMS4xNzI1MzY0ODA4LjQ1LjAuMA..">up to a million Russians</a> fled the country. By the end of 2023, the country was estimated to lack<a target="_blank" href="https://www.businessinsider.com/russia-lacks-workers-ukraine-war-labor-crisis-worker-shortage-2023-12"> close to 5 million workers.</a>That's put pressure on Russian businesses to increase wages, in a big to source new workers. According to FT, the nominal wage jumped 19.2% in the first quarter of 2024, slowing slightly in the second quarter. Labor shortfalls have hit manufacturing, trade and agriculture the hardest, according to the report.Rising wages and aggressive government spending are a recipe for higher inflation, which the central bank expects to reach 6.5% to 7% by the end of this year. The bank outlined that <a target="_blank" href="https://www.businessinsider.com/russia-economy-business-elites-criticize-central-bank-interest-rate-hike-2024-7">interest rates</a> — now standing at 18% — are unlikely to move away from the double digits.The report said inflation is projected to fall between 4% and 4.5% in 2025, then remain at the 4% level after that.The West has offered no relief to Russia, as sanctions from the US and its allies have only tightened in recent months. In late August, Washington announced another <a target="_blank" href="https://www.businessinsider.com/us-russia-sanctions-war-spending-exports-ukraine-china-banks-treasury-2024-8">sweeping sanctions package targeting foreign entities</a> that still support Russia's war production.Production capacity and labor supply is "nearly fully used," the report said.According to FT, the central bank also listed other economic scenarios in its report, such as an economic "deglobalization" that occurs alongside higher interest rates. In this situation, Russia would contract as much as 3% to 4% next year, and face a crisis as difficult as the 2008 period.The central bank's outlook appears in line with Western forecast, as the International Monetary Fund similarly <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-grows-faster-than-all-advanced-economies-imf-2024-4">anticipates momentum to fade in 2025</a>.Meanwhile, individual analysts have warned that a <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-collapse-recession-moscow-ukraine-war-us-dollar-energy-2024-7">severe recession is looming over Moscow</a>, which could hit as soon as next year.

Russia's 'overheating' economy will face a sharp slowdown next year as labor and sanctions crush momentum, central bank says

<ul class="summary-list"><li>Bank of America says the recent stock market sell-off is unlikely to be the start of a new bear market.</li><li>Credit markets remain stable, and only three of 10 signals of a market peak have flashed.</li></ul>The stock market's recent sharp sell-off is unlikely to transform into a full-fledged bear market, according to Bank of America.The <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-crash-picks-up-recession-fears-carry-trade-unwind-2024-8">S&amp;P 500 fell as much as 8% since its record high in July,</a> while the Nasdaq 100 plunged more than 10%. The sell-off was driven by <a target="_blank" class="" href="https://www.businessinsider.com/sahm-rule-recession-outlook-indicator-triggered-unemployment-rate-jobs-report-2024-8">a weak July jobs report,</a> the unwind of the yen carry trade, and concerns of an imminent recession.But according to <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/bac-stock?miRedirects=1">Bank of America</a> strategist Savita Subramanian, the tell-tale signs of a stock market peak have yet to materialize.Instead of this being a stock market peak that's on the precipice of a massive drawdown, it's more than likely just a typical correction that occurs on average every single year.For perspective, Subramanian pointed to stock market history to highlight that pullbacks in the market are common."5%+ pullbacks are common, occurring over three times per year on average since 1930 (this marks the second one this year after April). Larger corrections are less frequent but still common, with 10%+ corrections occurring once per year on average (the last one was in fall 2023)," Subramanian wrote in a note on Monday. The fact that credit markets remain stable gives Subramanian confidence that the recent sell-off is a common pullback rather than the beginning of a true bear market."So far, credit markets are subdued with a trough-to-peak widening of 70bp for high-yield spreads through last Friday," Subramanian said.Typically during panics that evolve into bear markets, bond investors demand a higher premium for their risky junk debt relative to Treasurys, but that has yet to materialize.The BofA US High Yield option adjusted spread, which measures the difference in yields between junk bonds and Treasury bonds, is at just 3.93%, well below its 5.33% average since inception in 1996.For perspective, prior stock market panics in 2020 and 2008 led the spread to soar to 9.82% and 21.82%, respectively."The recent spread widening can be described as normalization from extremely tight levels toward fair value. Spread widening beyond 450-475 would be concerning, according to our credit strategists," Subramanian said.What's more, Subramanian tracks 10 signals that, when most of them flash, signals that a major stock market peak has occurred.But as of July, just three of the 10 signals have flashed, according to the note, which was a stepdown from the 5 signals that flashed in June.<div type="image" title="Stock market peak signals" height="604" width="1305" msid="112327805" hostid="261" sizebytes="57564"></div>"We saw a maximum of 50% of these signals triggered in June, below the average of 70% triggered in prior market peaks," Subramanian said.The three stock market peak signals that flashed in July include the net percentage of respondents to the Conference Board survey exceeding 20 when asked if they expect the stock market to keep rising, an inverted yield curve, and tightening credit conditions based on the Senior Loan Officer Opinion Survey.But seven other signals tied to investor sentiment, valuations, and macro data have yet to flash."Several of our sentiment signals, including our Sell Side Indicator, suggest that sentiment did not hit euphoric levels typically seen at the end of bull markets," Subramanian said.Instead of preparing for a prolonged market sell-off, Subramanian <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/buy-defensive-stocks-to-weather-historic-stock-market-volatility-bofa-2024-8">recommends investors go bargain hunting and focus on buying high quality stocks.</a>

Why a full-fledged bear market is still unlikely even after the latest sharp sell-off

<ul class="summary-list"><li>A strategist says to brace for a steep correction in residential and commercial property prices.</li><li>Chris Vermeulen says he sees a wave of real-estate distress on the horizon.</li></ul>America's property market is due for a correction.That's according to Chris Vermeulen, a longtime strategist who's the founder of The Technical Traders. He thinks real estate is on the verge of a steep price correction, and he's forecasting that both residential and commercial properties could soon experience a wave of distress, causing prices to plunge about 30% in both markets."People are going to have to start to sell their homes," Vermeulen told Business Insider in an interview this week. "What we're starting to see if people starting to realize they can't <a target="_blank" href="https://www.businessinsider.com/why-its-expensive-to-own-a-home-mortgage-insurance-interest2024-4">afford their mortgages</a>, or they need to downgrade. A lot of people are struggling financially, and this is really the tip of the iceberg. Give it another two or three years — that's when the real-estate market gets hit the most."His forecast is among the more dire sounded by real-estate commentators in recent months. Most observers expect <a target="_blank" href="https://www.businessinsider.com/personal-finance/home-prices-drop">home prices to stay elevated</a> over the near to medium term, but Vermeulen said the signs pointing to a big move down were beginning to add up, noting a weak backdrop for the US economy that could end up hitting consumers — and particularly, mortgage holders — hard.Americans are already showing <a target="_blank" href="https://www.businessinsider.com/consumer-slowdown-recession-shopping-retail-spending-expectations-us-economy-outlook-2023-11">signs of weakness</a>. <a target="_blank" href="https://www.businessinsider.com/recession-outlook-hard-landing-economy-consumer-spending-slowdown-growth-gdp-2024-5">Retail sales</a> have been unexpectedly soft for the past two months, according to data from the Census Bureau, with purchases rising just 0.1% over May. Vermeulen said that implied corporate profits were set to weaken, which could spark more layoffs or reduced hours for workers as businesses trim costs and try to keep shareholders happy.Layoffs began to surge at the start of the year, with <a target="_blank" href="https://www.challengergray.com/blog/job-cuts-announced-by-us-based-companies-surge-136-to-82307-to-begin-2024-financial-tech-lead/">job-cut announcements</a> rising 136% in January, according to the consultancy Challenger, Gray &amp; Christmas. <a target="_blank" href="https://www.businessinsider.com/recession-layoffs-unemployment-job-market-outlook-economy-corporate-bankruptcies-defaults-2024-6">Unemployment could peak</a> around 5% to 6%, Vermeulen said, in line with what other economists have forecast."We start to see a trickle effect… People are starting to get laid off as unemployment rises. People have burned through their savings and inflation is crazy higher," he said. "Eventually, people aren't going to be able to pay their mortgages."Most mortgages in the US are <a target="_blank" href="https://www.businessinsider.com/personal-finance/30-year-mortgage-rates">30-year fixed rates</a>, and many existing mortgages have been locked in at lower rates from several years ago. But Vermeulen said Americans tend to "stretch themselves too thin" when purchasing their homes, which means some borrowers could eventually buckle financially as unemployment ticks higher.Residential foreclosures rose 3% in May, according to the data provider ATTOM. Failures could continue to climb for the next two or three years as Americans eventually become too financially burdened, Vermeulen said.The fallout in the <a target="_blank" href="https://www.businessinsider.com/office-market-collapse-outlook-commercial-real-estate-foreclosures-default-debt-2024-4">commercial real-estate</a> sector could meanwhile be more severe. Bloomberg reported that the sector had more than $900 billion in debt approaching maturity this year, after which it will have to be refinanced at higher rates and with potentially lower property values.Commercial foreclosures were 117% in March on an annualized basis.Vermuelen predicted that the Fed would eventually pull back interest rates as the economy tips into a recession. But banks, bearing huge losses in their mortgage and commercial real-estate portfolios, will be more hesitant to lend, weighing on demand and causing real-estate prices to plunge."It's possible we'll see a 50% [correction] in some spots, but I would say somewhere around a 30% correction in real estate," Vermeulen said of real-estate investments.Property prices could drop by about 30% across the entire residential and commercial property market, he added.Those losses could take seven to 10 years to recover from, he said, because of the long nature of real-estate cycles."The price of real estate has doubled or tripled in the last couple of years. It's pretty wild. And usually, when an asset goes up that much that quickly, it usually comes back and pulls and corrects," Vermeulen added. "It's going to be an incredible opportunity for people who can identify the bottom."Still, most real-estate veterans don't expect the <a target="_blank" href="https://www.businessinsider.com/personal-finance/when-will-the-housing-market-crash">residential housing market to crash</a>. The National Association of Realtors previously said the <a target="_blank" href="https://www.businessinsider.com/housing-market-outlook-buying-a-home-prices-inventory-biden-affordability-2024-3">US housing market was so short on inventory</a> it could take at least three or four years for supply and demand to balance out, and low supply would keep a floor underneath home prices for the foreseeable future.

The real-estate market is in for sharp correction with losses that could take a decade to recover from, strategist says

<ul class="summary-list"><li>Shannon Sharpe's interview with Katt Williams on his "Club Shay Shay" podcast is the most viewed interview in YouTube history.</li><li>Since then, Sharpe has faced backlash from rumors about his sexuality to criticism from comedians.</li></ul>Shannon Sharpe has become one of the country's biggest media personalities thanks to his <a target="_blank" href="https://www.businessinsider.com/shannon-sharpe-responds-katt-williams-interview-criticism-2024-1">viral interview with Katt Williams</a> in January. The interview on his <a target="_blank" href="https://www.youtube.com/watch?v=8oRRZiRQxTs">podcast, "Club Shay Shay"</a> is now the most-watched ever on YouTube with 70 million views.But the NFL Hall of Famer admits the negativity from some critics since the interview was released has been hard to handle."Have you not seen the media?" Sharpe responded to <a target="_blank" href="https://www.hollywoodreporter.com/business/digital/shannon-sharpe-interview-club-shay-shay-kat-williams-1235910002/">The Hollywood Reporter</a> recently when asked if there's been a backlash."Now, all of a sudden, since Katt did the interview, I'm gay. Since Katt did the interview, I'm Wendy Williams. I'm a gossip columnist. Katt did warn me. He said, 'Be prepared, because it's going to come,'" he replied."When I played sports, I expected the opposing team's fans to dislike me. But [in Hollywood], I had no idea it would be like this," Sharpe continued. "I would be lying if I told you I expected this."Sharpe played 14 seasons in the NFL, predominantly with the Denver Broncos. He's now a regular on ESPN's "First Take" alongside Stephen A. Smith when not doing his podcast.He told THR that being called gay has affected him the most."When you question a straight man's sexuality continuously? Social media is so influential," he said. "We had a guy make it to the White House in 2016, repeatedly saying things over and over, and people started to believe it. If you say things enough, people will believe them as true, even though they're not."<div type="image" title="Shannon Sharpe in a suit" height="4670" width="6000" msid="110600759" hostid="261" sizebytes="1402184"></div>"It's not OK to say somebody is gay," Sharpe added. "You can't convince me that it's OK. It's not."Since the Williams interview, comics including Mike Epps and Eddie Griffin have made jokes questioning Sharpe's sexuality. Both have <a target="_blank" href="https://www.youtube.com/watch?v=nAMGCiPl934">since apologized</a>."A lot of times, people disguise things in jokes," Sharpe told THR. "Envy, jealousy. I don't have anything against gay people. To each his own, and whatever you choose to do, that's your life."Despite the criticism, Sharpe and his podcast continue to ride high. Since the Williams interview, he's landed Oscar-winner <a target="_blank" href="https://www.youtube.com/watch?v=q1PVr6AeUT0">Mo'Nique</a> and "Insecure" star <a target="_blank" href="https://www.youtube.com/watch?v=Q9fRHyEidvY">Amanda Seales</a>. Both also went viral.Sharpe told THR that his dream interviews for the podcast are Oprah Winfrey, LeBron James, Dave Chappelle, and Eddie Murphy.

Shannon Sharpe reveals he got severe backlash after his Katt Williams interview

<ul class="summary-list"><li>Short bets against funds that track major US indexes have declined to record lows, JPMorgan said.</li><li>There are three main reasons short sellers are withdrawing from the market.</li></ul>Nonstop highs in the US stock market have turned short selling into a tough trade, and bets against US indexes have tumbled, JPMorgan said in a note on Thursday.As the <a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a> and <a target="_blank" href="https://markets.businessinsider.com/futures/nasdaq-100-futures">Nasdaq</a> have hit a streak of record highs this year, short interest in funds that track the indexes has dropped, the bank said. "The declining short interest on SPY and QQQ ETFs to successive record lows has been providing a steady flow support to US equities over the past year helping to suppress volatility, thus acting as an implicit short vol trade," analysts led by Nikolaos Panigirtzoglou said.<div type="image" title="Short interest on the SPY and QQQ ETFs" height="1460" width="1572" msid="111147334" hostid="261" sizebytes="81190"></div>According to them, three main factors have made this an especially hard market to trade against.First, short bets are expensive to maintain when a stock or fund is climbing, a risk that's especially relevant in today's bull run. Artificial intelligence excitement, the potential for rate cuts, and a resilient economy have all factored into a trading frenzy.As a result, the S&amp;P is up almost 15% year-to-date and the Nasdaq has posted a 32.3% gain. Second, regulators have added restraints to short selling, by mandating transparency and adding costs to short sellers that target equities, JPMorgan said.Finally, industry players are increasingly backing out as they face a rising wall of engaged retail investors, with Gamestop's famous meme rally in 2021 being the best illustration. "It is no secret that the long/short equity business model has come under pressure and interest in fundamental stock pickers has waned," famed short-seller Jim Chanos wrote last November, in a <a target="_blank" href="https://markets.businessinsider.com/news/stocks/jim-chanos-short-seller-hedge-funds-bear-bets-tesla-enron-2023-11">letter explaining why he was exiting the business</a>.According to JPMorgan, short positions are also disappearing from individual stocks, with a clear decline in the top seven leading equities.Though this withdrawal has underpinned the equity market's blowout run higher, it might lead to trouble ahead, the bank added."Given how low their short interest is at the moment, this implicit short vol trade looks rather extended by historical standards, posing a vulnerability to US equities in a scenario where negative news start reversing the past year's decline in short interest," analysts wrote.Though unnamed by JPMorgan, analysts have long been warning of a number of market-denting news. That includes the prospect of higher-for-longer interest rates, a resurgence in inflation, earnings fallout, or a geopolitical rupture.

Vanishing short-sellers have helped push stocks to record highs. But beware a sharp negative reversal, JPMorgan says.

Taylor Swift is not known to bite the hand that feeds her.Pandering to her base has become a vital piece of Swift's brand — so much so that at the 2024 Grammys, she thanked the so-called "Swifties" for an award (best pop vocal album) that was actually tendered by <a target="_blank" href="https://www.recordingacademy.com/awards/voting-process">peers and industry professionals</a>."I know that the way that the Recording Academy voted is a direct reflection of the passion of the fans," <a target="_blank" href="https://youtu.be/fEj9F9zsAxc?si=I79FL-KCVOyA4ilC">Swift said during her acceptance speech</a>. "So I want to say thank you to the fans by telling you a secret."The dutiful salute to fans offered a convenient transition to Swift's real announcement, the one she co-opted her own acceptance speech for: Her 11th studio album, "<a target="_blank" href="https://www.businessinsider.com/taylor-swift-new-album-grammys-reactions-memes-2024-2">The Tortured Poets Department</a>," would be in their hands come spring. "I'm gonna go and post the cover right now backstage," she said.It was classic Taylor, marrying gracious thank-yous for her success with a treat for her loyal fans. Little did they know that three months later, that gift would also come with a messy rebuke of the Swifties who've become a bit too preoccupied with the pop star's private life.<h2>Taylor Swift built her brand as a friendly and relatable pop star</h2><div type="image" title="A young fan exchanges friendship bracelets with Taylor Swift as she performs onstage during &quot;Taylor Swift | The Eras Tour&quot; at Allianz Parque on November 24, 2023 in Sao Paulo, Brazil." height="2732" width="4096" msid="109567458" hostid="261" sizebytes="470266"></div>Over the course of her career, Swift has been careful to cultivate a rapport with fans, building a relatable image through both her lyrics and her public persona as the patron saint of the Everygirl.She may be richer than <a target="_blank" href="https://www.businessinsider.com/taylor-swift-net-worth-spending-2018-8">almost everyone</a>, but she'll<a target="_blank" href="https://www.businessinsider.com/taylor-swift-net-worth-spending-2018-8"> </a>write a check to a Swiftie who needs to pay off her student loans, or a mother who lost her husband before Christmas. She may have a gaggle of <a target="_blank" href="https://www.businessinsider.com/taylor-swifts-squad-where-are-they-now-2019-1">famous friends</a>, but she'll <a target="_blank" href="https://www.businessinsider.com/taylor-swift-secret-sessions-music-fans-2017-11">invite groups of fans to her home</a> for intimate listening parties. She may be mind-bogglingly famous in a way that's made her life fundamentally abnormal, but she's careful never to <a target="_blank" href="https://www.foxnews.com/entertainment/taylor-swift-breaks-the-celebrity-mold-im-not-complaining-about-fame">make negative comments</a> about fame's downsides despite well-documented intrusions into her personal life."I remember when I was a little kid and I used to sit there and think about how lucky I would be if someday, people cared about the words that I wrote," a teenage Swift <a target="_blank" href="https://youtu.be/b7ISjjeEZiQ?si=_yT-FMPm0KsXqC6t">told reporters</a> at the 2009 CMA Music Festival. "When you spend so much time daydreaming about things like that," she added, "when that actually happens, you don't ever complain about it."Even when the sheer magnitude of her fame led to a literal argument about the Kanye West lyric, "<a target="_blank" href="https://www.businessinsider.com/taylor-swift-kim-kardashian-kanye-west-famous-video-leak-explained-2020-3">I made that bitch famous</a>," Swift's issue was never with the word "famous." It was with the word "bitch."But nearly two decades into her career, the business of Being Taylor Swift has become a billion-dollar industry whose <a target="_blank" href="https://www.businessinsider.com/guides/health/mental-health/parasocial-relationship">parasocial peanut gallery</a> has grown in size to match. In 2024, the secret messages Swift left in lyric booklets in her earlier albums seem like quaint conspiracies compared to the <a target="_blank" href="https://twitter.com/Tratumatized/status/1781554538824060998">Marvel-level lore</a> involved in the present-day Swiftie Easter egg hunt, which has gotten granular enough that fans find clues everywhere in Swift's orbit, <a target="_blank" href="https://www.usmagazine.com/stylish/news/taylor-swifts-style-has-been-full-of-ttpd-easter-eggs-for-months/">down to the brand names of her bags and shoes.</a>"I think the best messages are cryptic ones," <a target="_blank" href="https://ew.com/music/2019/05/09/taylor-swift-secrets-album-easter-eggs/">she said in 2019</a>.Fans (and critics) are particularly outspoken about Swift's romantic interests; once she's linked to a potential muse, their relationship is treated as a public forum.One could argue Swift has encouraged this dynamic with her penchant for Easter eggs, which started out as a way to incentivize fans to study her songwriting. But she has also been careful <a target="_blank" href="https://www.businessinsider.com/taylor-swift-should-criticize-fans-like-phoebe-bridgers-opinion-2023-5">not to rebuke her fans directly</a>, even when they do things like stake out her home or <a target="_blank" href="https://www.businessinsider.com/taylor-swift-fans-slammed-for-swarming-jack-antonoff-wedding-rehearsal-2023-8">crash her best friend's wedding</a> to catch a glimpse of her. Thanking and appeasing the fans has become second nature — which is exactly why the harsh tone of some lyrics on her latest album is so fascinating.<h2>With 'The Tortured Poets Department,' Swift is telling fans they don't actually know her</h2><div type="image" title="Taylor Swift fans" height="1990" width="2997" msid="109567459" hostid="261" sizebytes="311168"></div>"The Tortured Poets Department" <a target="_blank" href="https://www.businessinsider.com/taylor-swift-tortured-poets-department-album-review-tracklist-breakdown-2024-4">allows a peek into the inner turmoil of Being Taylor Swift</a>, with all the attention, venom, and possessiveness she attracts. As a songwriter who pours raw, personal details into her music, Swift's livelihood — not to mention her mental stability, judging by <a target="_blank" href="https://www.washingtonpost.com/arts-entertainment/2020/02/03/taylor-swifts-netflix-documentary-two-emotional-scenes-are-especially-jarring/">revelations</a> from her 2020 documentary "Miss Americana" and new "Tortured Poets Department" lyrics — is tethered to the approval of strangers. Thanks to the confessional nature of her work, these strangers believe they know her, and many believe they know what's best for her.The contrast between the public's perception and Swift's personal reality is a recurring theme in several songs, including "<a target="_blank" href="https://youtu.be/U2W173hRfyA?si=9EcaX7tpTJJ6Jg3c">But Daddy I Love Him</a>," the harshest act of retaliation in Swift's entire catalog.In the first verse, Swift accuses the public of trying to "cage" her while they sit on their high horses. "Sarahs and Hannahs in their Sunday best," she taunts, "Clutching their pearls, sighing, 'What a mess.'"The chorus paints Swift as a woman in love and on the brink. Her partner is "crazy," but she doesn't care: "He's the one I want."On its face, the song seems inspired by <a target="_blank" href="https://www.businessinsider.com/taylor-swift-matty-healy-relationship-timeline-2023-5">her much-reviled romance with Matty Healy of The 1975</a>. Following her split from <a target="_blank" href="https://www.businessinsider.com/taylor-swift-joe-alwyn-relationship-details-timeline">Joe Alwyn</a> last year, Swift was spotted out and about with <a target="_blank" href="https://www.newyorker.com/magazine/2023/06/05/who-is-matty-healy">the polarizing British rocker</a>, whom she's known for nearly a decade.The backlash was, well, swift. Onlookers criticized Swift for associating with Healy, who'd previously said dating her would be "emasculating." (He later apologized.) Healy was also slammed for laughing on a podcast while the hosts made racist jokes about rapper <a target="_blank" href="https://www.businessinsider.com/ice-spice-surprise-guest-taylor-swift-eras-tour-amid-controversy-2023-5">Ice Spice</a>. (He apologized for that, too.)Healy's long history of ironic stunts and satirical lyrics were widely misunderstood as sincere — but still, <a target="_blank" href="https://www.vox.com/culture/2023/5/17/23726170/taylor-swift-matty-healy-dating-relationship-the-1975">think pieces about his unworthiness flooded the internet</a>. One group of paternalistic Swifties even tried to circulate a petition <a target="_blank" href="https://www.theguardian.com/commentisfree/2023/may/30/taylor-swift-matty-healy-fan-culture">demanding that she end her relationship</a> and issue "more than a simple apology."According to <a target="_blank" href="https://www.businessinsider.com/taylor-swift-matty-healy-break-up-2023-6">reports</a>, Swift and Healy didn't last very long — a <a target="_blank" href="https://www.businessinsider.com/taylor-swift-post-malone-fortnight-music-video-details-you-missed">fortnight</a>, perhaps? — and at the time, Swift never addressed the outsize reaction to their romance.But now, through her songwriting, she's left very little doubt as to how this behavior enraged her."'Stay away from her,' the saboteurs protested too much," Swift sings. "I'll tell you something right now / I'd rather burn my whole life down / Than listen to one more second of all this bitching and moaning."By the bridge, the gloves come off, with Swift describing her lover's critics not just as saboteurs, but as "vipers dressed in empath's clothing" and "judgmental creeps who say they want what's best for me."Later in the album, Swift reinforces this key concept: Her fans don't know her, and oftentimes, they don't even understand her."<a target="_blank" href="https://youtu.be/vOZFiX6hDXQ?si=7ptWGyEhdAnsoxQh">Who's Afraid of Little Old Me?</a>" — <a target="_blank" href="https://www.businessinsider.com/taylor-swift-solo-written-songs-2023-7">solo-written by Swift</a> —is another album standout, which compares the author to a defanged circus freak. No matter what people say about her, Swift can't truly bite back; she's been trained to prioritize a squeaky-clean brand. Choice lyrics recall the demands of the anti-Healy petition: "The scandal was contained / The bullet had just grazed / At all costs, keep your good name." "<a target="_blank" href="https://youtu.be/i8_w_m6HLJ0?si=iHkgG5_1rw5JGWdb">I Can Do It With a Broken Heart</a>" echoes the image of Swift as a caged performer, <a target="_blank" href="https://www.businessinsider.com/taylor-swift-eras-tour-best-photos-2024-4">sparkling on The Eras Tour stage</a> and fooling the audience with every grin. "I can read your mind / 'She's having the time of her life,'" Swift jeers. "I can show you lies."When the album was released last Friday, Swift made sure to <a target="_blank" href="https://x.com/taylorswift13/status/1781171613058097619">clarify on social media</a> that she has healed from this "fleeting and fatalistic moment in time," writing, "This period of the author's life is now over."The implication is clear: "<a target="_blank" href="https://www.youtube.com/watch?v=X0Jti9F-oQA">Dear reader</a>, don't be offended! I no longer relate to the palpable fury in this album." It's a clever move, a safeguard to ensure her shit-talking stays contained in the past and doesn't bleed into her current life.But her fury is still immortalized in the music itself. The Swift we hear in "Poets" is unruly, self-destructive, and self-consciously wild, very unlike the polished pop star we've grown accustomed to seeing. This is the sound of a woman pleading temporary insanity, pleading for her own humanity. Swift is willing to admit she has lost her mind and made some mistakes — yet, in a refreshing change of pace, she is insistent upon her right to make them.

Taylor Swift's new album is a sharp rebuke of toxic fans. It's about time.

<ul class="summary-list"><li>Tesla is reportedly gutting its EV charging team, laying off around 500 employees.</li><li>The news sent shockwaves through the industry, with one supplier calling it a "kick in the pants."</li></ul><a target="_blank" href="https://www.businessinsider.com/elon-musk">Elon Musk</a> has gone "<a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-hardcore-layoffs-report-2024-4">hardcore</a>" again — and it's sending tremors through the EV industry.<a target="_blank" class="" href="https://affiliate.insider.com?h=35280143c94a2b9e9f1d35162307f10ba81170dfc3e328531a26b30b5231c5b6&amp;postID=663207301f5f5e2b5003d866&amp;postSlug=tesla-elon-musk-supercharger-layoffs-concern-confuse-suppliers-2024-5&amp;site=bi&amp;u=https%3A%2F%2Fwww.theinformation.com%2Farticles%2Fmusk-plans-more-layoffs-as-two-senior-tesla-executives-depart">The Information reported late Monday</a> that Musk is laying off around 500 employees on its Supercharger team in a move that one supplier has described as a "sharp kick in the pants." The team is responsible for building its global network of superfast EV chargers."As contractors for the Supercharger network, my team woke up to a sharp kick in the pants this morning," Andres Pinter, co-CEO of Bullet EV Charging Solutions, an Austin-based EV chargepoint installer that works on Tesla's network, <a target="_blank" href="https://www.reuters.com/business/autos-transportation/musk-disbands-tesla-ev-charging-team-leaving-customers-dark-2024-04-30/">told Reuters</a>."Tesla has already been awarded money under the federal government's NEVI program. There's no way Mr. Musk would walk away from effectively free money. It may be possible Mr. Musk will reconstitute the EV charger team in a bigger, badder, more Muskian way," he added.The shock job cuts have reverberated across the auto industry, with many of Tesla's rivals backing the company's charging network by making <a target="_blank" href="https://www.businessinsider.com/tesla-officially-won-the-charging-wars-nacs-sae-2023-12">their EVs compatible with Tesla's Superchargers in recent months.</a>Executives at EV startup Rivian, which recently said its drivers would be <a target="_blank" href="https://www.businessinsider.com/how-to-charge-non-tesla-ev-at-supercharger-models-adapters-2023-7#rivian-3">able to use Tesla's network</a>, were left confused and concerned by the job cuts, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-30/tesla-axes-supercharger-team-in-blow-to-other-automakers">a source told Bloomberg</a>.Over the past few years, Tesla's North American Charging Standard (NACS) has become the dominant charging network in the US, with the company installing 15,000 Superfast charging stalls across the country as of 2024.<a target="_blank" href="https://www.businessinsider.com/how-teslas-charging-partnership-ford-and-gm-works-consumers-2023-6">Ford, General Motors</a>, and <a target="_blank" href="https://www.theverge.com/2024/2/12/24070654/stellantis-tesla-ev-charging-plus-nacs-adapter">Stellantis</a> announced they will make their EVs compatible with NACS in the past year.Business Insider approached Rivian, Ford, and GM for comment but didn't immediately hear back.In an email to senior executives at Tesla on Monday, Musk announced the departure of two executives: Rebecca Tinucci, senior director of the company's Supercharger group, and Daniel Ho, head of new products, per The Information. He also castigated executives for not being "hard core" enough in cutting headcount.Last month, Tesla <a target="_blank" href="https://www.businessinsider.com/tesla-layoffs-job-cuts-2024-2">laid off over 10% of its global workforce</a>.Tesla shares <a target="_blank" href="https://www.cnbc.com/2024/04/30/tesla-shares-drop-after-musk-cuts-about-500-jobs-in-supercharger-team.html#:~:text=Tesla%20shares%20fell%20nearly%206,down%2026%25%20for%20the%20year.">dropped early Tuesday</a> as investors reacted to the news. Musk, meanwhile, sought to reassure owners and suppliers by stating that Tesla still plans to grow its Supercharger network, just <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-supercharging-network-grow-slower-pace-2024-4">at a slower pace than before</a>.However, there are signs that the company is cutting back on new Superchargers. The EV maker reportedly canceled four planned Supercharger sites in New York on Tuesday, according to <a target="_blank" href="https://insideevs.com/news/718045/nyc-tesla-supercharger-sites/">InsiderEVs</a>.William Navarro Jameson, who worked as Tesla's Charging Program Lead confirmed he was laid off in a post on LinkedIn.,He <a target="_blank" href="https://twitter.com/willjameson/status/1785304277889794536">wrote on X</a> that the layoffs offered a "unique opportunity" for others looking to challenge Tesla's charging stranglehold."If Tesla is yielding the charging crown, who will step up?" he said.Tesla did not immediately respond to a request for comment made outside normal working hours.

You Searched For "sharp" and got 11 results

India's BPM industry to see sharp demand for AI-skilled talent over the next 3-5 years

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5 reasons why stocks are still at risk of another sharp sell-off, Deutsche Bank says

Filip De Mott

Men are ruling red-carpet fashion at the 2024 Venice International Film Festival with sharp suits and $23,000 watches

Amanda Krause

A sharp reversal in the stock market's fear gauge means the worst is over for investors, Fundstrat says

Matthew Fox

Russia's 'overheating' economy will face a sharp slowdown next year as labor and sanctions crush momentum, central bank says

Filip De Mott

Why a full-fledged bear market is still unlikely even after the latest sharp sell-off

Matthew Fox

The real-estate market is in for sharp correction with losses that could take a decade to recover from, strategist says

Jennifer Sor

Shannon Sharpe reveals he got severe backlash after his Katt Williams interview

Jason Guerrasio

Vanishing short-sellers have helped push stocks to record highs. But beware a sharp negative reversal, JPMorgan says.

Filip De Mott

Taylor Swift's new album is a sharp rebuke of toxic fans. It's about time.

Callie Ahlgrim

A Tesla supplier says Elon Musk's Supercharger layoffs were 'a sharp kick in the pants'

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