CBX Daily 8/19/2024

Author

CultureBanx Team
August 19, 2024

Today HBCUs are crafting futures, bright and bold, but let’s start with how AI's hype might just be cash that's burning cold…

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Cultural Intelligence Download

Is Investing In AI Fueling The Future Or Just Burning Cash?

CBX Vibe

The last few days saw many of our beloved tech stocks take a beating. And it’s got people asking: Is the $1.5 trillion capital investment in Generative AI paying off? While AI promises to revolutionize industries by increasing efficiency and unlocking new capabilities, it also raises alarms about the potential displacement of millions of jobs. 40% of global employment is exposed to AI. According to a World Economic Forum report, 85 million jobs could be displaced by 2025 due to automation and AI, while 97 million new roles might emerge.

How HBCUs Are Financially Empowering Their Graduates

CBX Vibe:

Historically Black Colleges and Universities (HBCUs) are more than educational institutions; they're catalysts for empowerment, shaping futures that gleam with promise. HBCUs with the highest payoff in 2024 are leading the charge, with Hampton University, Spelman College and Xavier University of Louisiana. Embracing an HBCU education in 2024 means embracing an opportunity to amplify Black graduates careers and income prospects.

Money Press: Real Price Of Printing Currencies In Other Countries

CBX Vibe:

Missing cash to the tune of $104 million in Liberia is still unaccounted for, after it was printed overseas and passed through the country's main port and airport. With Africa being the fastest growing region for banknote printing and several countries having this process done outside of their borders, should we care where our money is printed?

Back To School Retail Vibes Reaching $31 Billion

CBX Vibe:

Getting your kids ready to take on a new school year won’t be cheap as shoppers plan to spend more on back-to-school gear this year. Despite an unpredictable back-to-school environment, overall spending is expected to increase to $31.3 billion for K-12 students, according to a Deloitte Survey. Parents plan to spend an average of $586 per child, as tech gear takes over back-to-school spending.

Are Black Entrepreneurs The Architects Of America's Prosperity?

CBX Vibe:

Reflecting on the journeys of Black entrepreneurs underscores the enduring resilience and profound impact they have made on America's economic fabric. From Frank McWorter to Madam C.J. Walker to Robert F. Smith, and everyone in between, let’s explore the lives and legacies of the Black entrepreneurs who are redefining the essence of American prosperity.

Vibes of the Week

AI investments may not yield ”Legit” and tangible gains in the future. Nas tell us in our CBX Vibes!