The AI ​​race / AI and jobs

The AI ​​race
Sources: Musk's AI company steps up investment in data centers

The AI ​​company XAI, led by Elon Musk, is about to expand its data center complex in Memphis, after buying nearby halls. This is reported by The Information, which refers to sources.

The first data center is known as Colossus and Musk is now about to establish another facility called Colossus 2.

AI and jobs
Bank: 200,000 finance jobs in Europe could disappear

Over 200,000 banking jobs in Europe are threatened by AI by 2030. That is the forecast made by Morgan Stanley, reports the FT.

This could mean the loss of 10 percent of the continent's total workforce in the financial services industry. Administrative roles and positions in risk management and compliance are expected to be affected.

“Many banks are talking about efficiency gains of up to 30 percent as a result of AI and continued digitalization,” Morgan Stanley told the newspaper.

UBS CEO Jason Napier also points out that many banks have a large cost burden and some way to go to improve efficiency.

The Dutch ABN Amro is already planning to cut around a fifth of its full-time employees by 2028, and Société Générale CEO Slawomir Krupa warned earlier in March that “nothing is sacred.”