AI has triggered a wave of layoffs on Wall Street! The number of unemployed individuals in the next three years may exceed 200,000.

The report indicated that in the next 3 to 5 years, due to AI 'encroaching' on human jobs, Global Banks will lay off up to 200,000 people, with backend, mid-office, and Operation positions facing the highest risks. At the same time, 80% of respondents expect that generative AI will increase productivity and income by at least 5% during this period.

wallstreetcn06:31 ET

Blackstone Invests $300 Million In AI Data Firm That Powers Elon Musk's XAI Supercomputer

Benzinga03:49 ET

Microsoft Plans To Slash Jobs Again: 'When People Are Not Performing, We Take The Appropriate Action'

Benzinga03:25 ET

Ex-Google CEO Eric Schmidt Invests In 3D-Printed Rocket Maker As SpaceX-Led Space Race Heats Up

Benzinga23:51 ET

U.S. stock market close: the three major indexes varied in performance; Huang Renxun's remarks caused a collapse in the Quantum Computing Sector.

① The Nasdaq China Golden Dragon Index fell by 0.67%, with most China Concept Stocks declining; ② Wildfires ravaged California, and Electrical Utilities provider Edison International fell by 10%; ③ Jensen Huang stated that a "very useful" quantum computer may take several decades to arrive; ④ Intel: will continue to focus on the independent graphics card market.

cls.cn17:14 ET

S&P 500 Positive for 'First Five Days,' Huang Sees Decades till Quantum | Wall Street Today

Kevin Travers16:12 ET