Alongside the AI-driven restructuring, Standard Chartered is aiming for a 3 percentage point improvement in its return on tangible equity, targeting more than 15% in 2028 and about 18% in 2030. The job cuts would drive productivity improvements to raise income per employee by about 20%.

Standard Chartered plans to cut over 7,000 jobs in AI push, will replace ‘lower-value human capital’

The collapse began with a single, brutal admission. On May 2, 2023, just five months after the launch of ChatGPT, then-CEO Dan Rosensweig told analysts on an earnings call that the free chatbot was actively hurting their new customer growth. 

This company becomes first to be wiped out by AI...

ChatGPT feels like magic, but it is built on human sweat. Discover the dark reality of the shadow economy where millions of Indian gig workers label toxic data to make Silicon Valley's AI safe.

How western AIs are exploiting millions of Indians to teach them how to think

Voice AI doesn't just read scripts anymore; it has empathy, handles complex billing, and works 24/7. Discover how generative voice agents are structurally dismantling India’s massive outsourcing empire.

'Call center extinction': How voice AIs are quietly wiping out India’s $40 billion BPO industry

Discover why the Nifty IT index has plunged 34% from its peak. Advanced AI like Anthropic's 'Mythos' is destroying the traditional headcount billing model, sparking fears that India's tech sector has lost the AI war.

'Down 34%': AI drives Nifty IT index to its lowest in 30 months as market signals India has already lost AI race

A working paper, the authors of which include Stanford and Ohio State University professors, says that a double majors in college may help make your professional future secure in a market soon to be disrupted by artificial intelligence solutions.

Double majors have better chance of surviving AI disruption: Study

As Artificial Intelligence becomes a topic of conversation, online and offline, Pope Francis on Tuesday called on the international community to reflect on the potential dangers of artificial intelligence (AI) and said that the technology must be used in the "service of humanity".

Pope points out 'disruptive possibilities' of Artificial Intelligence, calls for responsible use of technology

The Indian IT industry has faced a turbulent period, with shares across the sector declining due to macroeconomic uncertainties stemming from the U.S. and European banking crisis, coupled with global inflation and rising interest rates. Clients are cutting costs, leading to reduced demand for IT services, impacting deals and project timelines. Although green shoots of recovery are visible as the interest rate cycle may end, experts predict continued challenges for the sector in the short to medium term. Meanwhile, the artificial intelligence disruption is also something that the industry is still coming to terms with. How will the IT industry navigate these hurdles and take advantage of the Gen AI potential? Watch Vikram Chandra in conversation with Nitin Rakesh, CEO, Mphasis on The India Story

I.T. sector grappling with AI disruption, is AI the next big thing in I.T. sector? The India Story

ai-disruption

Ai Disruption, News on Ai Disruption, stories on Ai Disruption, articles on Ai Disruption, Ai Disruption stories at Wion, Ai Disruption news, Ai Disruption latest news

ai disruption