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- AI Set to Cut 200K Banking Jobs
AI Set to Cut 200K Banking Jobs
Plus, Is This the End of the Phone Age?
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Welcome back, AI Admirers!
Breaking News: Morgan Stanley predicts artificial intelligence could wipe out 200,000 banking jobs in Europe by 2030, raising global concerns about automation’s impact on employment.
Get ready to dive into the latest happenings in AI.
📢 Today's Headline:
200K Jobs at Risk from AI Shift!
The Post‑Phone Era Is Coming Fast!
Musk’s xAI Just Went Mega!
Nvidia Could Buy AI21 Next!
Latest AI Tools & Resources!
Today’s Poll and Results!
Read time: 3.5 minutes!
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Hand-picked News
Morgan Stanley just dropped a bombshell: AI could erase 200,000 banking jobs in Europe by 2030 and that’s only one industry, one region.
Cuts are expected in back-office, risk management, and compliance, the “invisible” layers of banking.
If similar patterns hit globally, losses could near 1 million jobs across finance.
Goldman Sachs paints an even darker picture: up to 300 million jobs worldwide “lost or diminished” thanks to AI efficiency.
The forecast zeroes in on European banks, but leaders like JPMorgan’s Jamie Dimon warn the ripple effects will spread far beyond finance — potentially reshaping entire economies and even shortening work weeks.
⚠️ Why it matters: This isn’t just about layoffs — it’s about whether societies can reskill fast enough to keep pace with automation. The tension between AI as a productivity booster vs. AI as a job destroyer is hitting a breaking point.
✅ Quick insight: If you’re in finance or compliance, now’s the time to explore AI‑adjacent skills — think data science, AI governance, or fintech innovation.
A top VC says our beloved smartphones are on borrowed time, and the race is on to define the next interface.
Jon Callaghan of True Ventures predicts we won’t be using iPhones the same way in five years.
His firm is betting on new human-computer interfaces, like Sandbar’s voice-activated ring that captures thoughts in real time.
The thesis: phones are clunky at connecting humans to intelligence, and wearables + AI could unlock entirely new behaviors.
True Ventures has a track record of spotting “crazy” bets early — Fitbit, Ring, Peloton — before they became mainstream. Now they’re doubling down on devices that feel more natural than tapping a screen.
👀 Why it matters: If the smartphone market is saturated and wearables are growing double digits, the next big wave isn’t about faster chips — it’s about how we interact with intelligence. ⚠️ Ignore this shift, and you risk being stuck in yesterday’s interface.
✅ Quick tip: Start experimenting with voice-first tools and wearable tech now. The learning curve is short, but the payoff could be huge when the “post-phone” era arrives.
Elon Musk isn’t slowing down — his AI startup xAI has snapped up a third massive data center, pushing its supercomputer ambitions into overdrive.
The new site, dubbed MACROHARDRR, boosts xAI’s planned compute power to nearly 2 gigawatts.
This cluster, anchored in Memphis, is now among the most energy‑intensive AI training operations on the planet.
Musk revealed the move on X, signaling xAI’s intent to rival giants like OpenAI and Anthropic head‑on.
xAI already has one completed facility (Colossus) and another under construction nearby. With this third acquisition, Musk is building what could become one of the world’s largest AI training clusters.
⚠️ Why it matters: Scaling compute at this level isn’t just about bigger models — it’s about who controls the future of intelligence. The sheer energy demand raises questions about sustainability, regulation, and whether smaller players can even compete.
✅ Quick insight: If you’re tracking AI infrastructure, keep an eye on Memphis — it’s shaping up to be the new epicenter of supercomputing.
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🚨 Quick Poll
Today’s Poll:
Should governments step in to protect workers from large-scale AI job cuts? |
Vote today, see the results tomorrow!
Previous Poll:
Do you think AI safety roles should be paid as much as top engineers?
A) Yes – Safety is just as critical – 100%
B) No – Engineering should earn more – 00%
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