AI Was Supposed to Shrink Workforces. Now Employers Say They Need More People
benzinga_article·- Major U.S. companies, including CSX Corp. and Alphabet Inc., are beginning to hire again after previous layoffs due to economic uncertainty and expectations of AI capabilities. - Leaders from these companies indicate a need for growth and human roles alongside AI, noting a demand for younger workers skilled in AI technologies. - Despite this hiring rebound, the labor market faces challenges, including demographic shifts and uncertainties about AI's long-term impact on employment.Dow Jones Top Financial Services Headlines at 4 PM ET: American Express Sales, Profit Rise on Higher Card Member Spending | Booz ...
MorningStar·- American Express reported increased sales and profits in the second quarter due to higher card member spending. - Booz Allen Hamilton stated that demand is rising, aided by cost-cutting measures that resulted in unexpected profit growth. - HSBC announced the sale of its Singapore insurance business to Allianz for $2.1 billion as part of its strategic shift towards Asia.