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Charleston Business

The Business Narrative: AI Insights

Oct 14, 2024 10:07AM ● By Donna Walker

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University of South Carolina Unveils Inaugural AI Index Results

The University of South Carolina College of Information and Communications (CIC) released insights from its inaugural AI Index, the first comprehensive survey conducted by a U.S. university that measures AI's impact in detail.

 

The survey examines the influence of AI tools on the future of journalism, upcoming electoral campaigns and younger generations' adoption of these technologies.

 

With data collected from 1,061 respondents, the AI Index provides a detailed analysis of AI awareness, usage and perception. Key findings include:

 

Generational Awareness Divide: While younger generations (ages 18-24) are more aware of AI tools, 31 percent of the general population still lacks knowledge of AI.

 

Academic and Professional Integration: 38 percent of respondents use AI for work or study, with usage highest among younger people, residents of the Western U.S. and higher-income groups. Trust and lack of skills remain significant barriers to broader adoption, particularly among older populations.

 

Ethical and Privacy Concerns: Only 27 percent of respondents are aware of ethical guidelines around AI, and 12 percent report privacy concerns. Ethical concerns are notably higher among women and more educated individuals.

 

Impact on Journalism: While 46 percent of Americans see AI positively influencing journalism, concerns about misinformation persist, with trust in the press and educational institutions correlating with favorable views.

 

Future of Work: More than half (52 percent) of respondents express fear of job losses due to AI, while 29 percent anticipate job transformation requiring new skills. Younger generations are more optimistic about AI's potential in reshaping the workforce.

 

Led by a team of experts, including Dan Sultanescu, Ph.D., and Linwan Wu, Ph.D., the initial round of AI Index survey results offers a critical baseline for understanding how AI is transforming the communication industry and beyond.

 

"This groundbreaking study is one of the first to examine public perceptions of the rapidly evolving role of AI in communication and explore how communicators and communication educators can effectively integrate it into their work," said Wu.

 

USC CIC plans to continue measuring public attitudes and AI usage through future surveys, providing valuable insights into trends and emerging concerns, including job automation and AI's influence on electoral campaigns.

Downtown Greenville Rents Grow While Suburbs Lead Absorption

Vacancy in Greenville’s Central Business District (CBD) continues to drop as asking rents rise sharply, highlighting a strong third quarter for Greenville’s office market, according to Colliers.

 

The full-service commercial real estate firm said the newest downtown Class A buildings have minimal availability, leading to competition between tenants for prime spaces at rates as high as $45 per square foot while Class B and older Class A buildings saw vacancy rise slightly. 

 

Much of the market’s demand is driven by sectors supporting the Upstate's strong regional growth, including engineering, construction and finance, with firms choosing to relocate or grow within the market.

 

Suburban markets saw performance bounce back after several quarters of mixed results, absorbing 58,989 square feet as Class B rates in downtown Greenville rose sharply. 

 

Colliers said the newest downtown Class A buildings have minimal availability, leading to competition between tenants for prime spaces at rates as high as $45 per square foot while Class B and older Class A buildings saw vacancy rise slightly.

 

Colliers said new construction in the form of 228,000 square feet underway at the County Square development is likely to unlock higher rates across the downtown market.

 

It said much of the market’s demand is driven by sectors supporting the Upstate’s strong regional growth, including engineering, construction and finance, with firms choosing to relocate or grow within the market.

 

Net absorption and vacancy improved from the first quarter of 2024 to 112,525 square feet and 15.08 percent, respectively.

 

Overall, Colliers said, Class A lease rates increased to $31.69 as total inventory and construction remained flat.

 

While interest rate uncertainty has largely suppressed sales volume, activity increased with the institutional sale of 32 E Broad Street in Greenville’s CBD while owner-user markets remain healthy in the sub-20,000-square-foot space, Colliers said.

Spartanburg County Chosen As Host for 2026 NCAA Division I, Division II Cross-Country Regionals

The NCAA has named Spartanburg as a host site for the 2026 Division I and Division II Men’s and Women’s Cross-Country Regionals.

 

Both events will be held at the Milliken Arboretum in November 2026.

 

“Spartanburg is ready to welcome back NCAA Cross-Country in 2026, and excited to again showcase the hotels, restaurants, and outdoor amenities that make Spartanburg a great place to visit and to relocate,” said OneSpartanburg, Inc. Chief Tourism Officer Billy Dunlap.

 

Dunlap added, “Our team is excited to work to make the experience first-class for the athletes, coaches, and families who come to our community for this prestigious event.”

 

The 2026 NCAA Division I Men’s and Women’s Cross-Country Regionals will be hosted by OneSpartanburg, Inc. and the University of South Carolina Upstate.

 

Spartanburg joins other regional hosts like Florida State University, Michigan State University, and Texas A&M University.

 

"We are excited to continue our partnership with OneSpartanburg, Inc. and Milliken as the host institution for the 2026 NCAA Southeast Cross Country Regionals,” said Matt Martin, USC Upstate athletics director and vice chancellor for Intercollegiate Athletics.

 

Martin added, “We were fortunate to host DI Regionals in 2023, which was a wonderful experience, and to be selected once again shows that the NCAA and the cross-country community are as excited as we are about bringing this event back to Spartanburg.”

 

The 2026 NCAA Division II Men’s and Women’s Cross-Country Regionals will be hosted by OneSpartanburg, Inc. and Converse University.

 

Spartanburg joins other regional hosts like the University of Alabama in Huntsville and Winston-Salem State University in North Carolina.

 

“Converse is proud to be selected as the host institution for the 2026 NCAA DII Men’s and Women’s Cross-Country Regional, and we are thrilled to be part of such an important event in the student-athlete experience,” said Jenn Bell, associate vice president and director of athletics at Converse.

 

Bell added, “We are grateful for the opportunity to partner with One Spartanburg, Inc. for the championships and commend the Vice President of Sports Development, John Mark Freeze, for his efforts in bringing this level of collegiate competition to Spartanburg.

Social Security Announces 2.5 Percent Benefit Increase for 2025

Social Security benefits and Supplemental Security Income (SSI) payments for more than 72.5 million Americans will increase 2.5 percent in 2025, the Social Security Administration announced.

 

On average, Social Security retirement benefits will increase by about $50 per month starting in January.

 

Over the last decade the COLA increase has averaged about 2.6 percent. The COLA was 3.2 percent in 2024.

 

Nearly 68 million Social Security beneficiaries will see a 2.5 percent cost-of-living adjustment (COLA) beginning in January 2025.

 

Increased payments to nearly 7.5 million people receiving SSI will begin on Dec. 31, 2024. (Note: Some people receive both Social Security benefits and SSI).

 

Other adjustments that take effect in January of each year are based on the increase in average wages.

 

Based on that increase, the maximum amount of earnings subject to the Social Security tax (taxable maximum) is slated to increase to $176,100 from $168,600.

 

Social Security begins notifying people about their new benefit amount by mail starting in early December.

 

Officials said that this year, for the first time, Social Security beneficiaries will receive a newly designed and improved COLA notice that makes it easier for customers to find the information they need most.

 

The simplified COLA notice is now only one page, uses plain and personalized language, and provides exact dates and dollar amounts of a person's new benefit amount and any deductions, the officials said.

 

They said individuals who have a personal my Social Security account can view their COLA notice online, which is secure, easy, and faster than receiving a letter in the mail. People can set up text or email alerts when there is a new message--such as their COLA notice--waiting for them in my Social Security.

 

People will need to have a personal my Social Security account by Nov. 20 to see their COLA notice online. To get started, go to www.ssa.gov/myaccount.

 

Information about Medicare changes for 2025 will be available at www.medicare.gov.

 

For Social Security beneficiaries enrolled in Medicare, the 2025 benefit amount will be available via my Social Security's Message Center starting in late November.

 

Those who haven't opted to receive messages online will receive their COLA notice by mail in December.

 

The Social Security Act provides for how the COLA is calculated.

 

The Social Security Act ties the annual COLA to the increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) as determined by the Department of Labor's Bureau of Labor Statistics.

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