JOB REPLACEMENT BY AI
Investors in other markets would be envious of India multiples: Rich Handler, chief executive of Jefferies
Jefferies CEO Rich Handler believes Indian equities remain reasonably valued despite the market correction and says easing long-term capital gains taxes could attract foreign investors. He sees opportunities in India's AI and data centre sectors, argues that global capital outflows reflect external pressures, and believes concerns about an AI bubble warrant a healthy pause rather than alarm.
Democrats’ Senate win could shield Federal Reserve from Trump’s influence, but risks persist
Democrats’ midterm victory could strengthen the Federal Reserve’s independence by limiting President Donald Trump’s ability to appoint allies to its board. A Democrat controlled Senate could also intensify scrutiny of Fed Chair Kevin Warsh, with Elizabeth Warren likely to lead the Senate Banking Committee and challenge the administration’s banking reforms.
Binance hack exposes limits of crypto exchanges’ emergency shutdown controls
Binance is calling it a “sophisticated, multi-stage campaign” and “not a single isolated breach or a simple phishing incident.”
Binance says North Korean hackers stole $6.34 billion funds in a technical breach
Binance reported a cyberattack attributed to North Korea that compromised $6.34 billion in digital assets. Approximately $2.85 billion of the affected assets have since been frozen or intercepted. The attackers utilized fake job interviews and advanced malware to breach Binance's security systems. Subsequently, the company took steps to replenish the lost assets and mitigate the damage caused.
We Were Here: Priyanka Chopra backs Oscar-qualified Indian short film exploring AI's threat to human jobs
Priyanka Chopra has produced a short film titled We Were Here, focusing on the effects of AI. Directed by Pranav Bhasin, the film portrays retirees protesting against AI's impact on job security. The film has won over 20 awards at various festivals, including recognition at SXSW and Palm Springs International ShortFest. We Were Here is expected to premiere on The New Yorker’s official YouTube channels.
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Hospital balance sheet: How AI could cut costs and improve efficiency
As hospitals grapple with soaring costs in drugs, supplies, and labor, the integration of AI emerges as a vital necessity.
‘Facing ‘gerontonomia’, the West’s young opt for political extremes’
Tim Vlandas analyzes the influence of aging populations on electoral politics in advanced capitalist nations like Europe. Older voters display different policy preferences, emphasizing pensions over issues of younger demographics. Consequently, governments often allocate more resources to pension spending rather than investing in education and infrastructure. Young voters may become politically disenchanted, leading to radical shifts towards extreme parties.
AI can perform the work of 10 people, says Zoho’s Sridhar Vembu, warns of headcount impact
Sridhar Vembu, the visionary behind Zoho, raises alarms regarding the transformative role of AI on computer-related jobs. He posits that one AI-empowered individual might outperform several workers. While acknowledging impending job cuts, he is optimistic about fresh opportunities opening across different sectors. Vembu also points out the soaring costs tied to AI technologies, urging companies to pivot swiftly.
Nevada unions, politicians caught between AI job creation and destruction
Nevada unions' soul-searching reflects the national debate underway over whether regulation should slow down AI development amid conflicting projections of job destruction and creation - and whether AI will ultimately lift humanity or harm it.
Bill Gates says next 20 years to be the most tumultuous in human history as Microsoft announces buyouts to 60,000 employees
Microsoft Layoffs: Bill Gates has warned that the next 20 years could be among the most tumultuous periods in human history as artificial intelligence and robots transform jobs and industries. The Microsoft co-founder believes AI could eventually create widespread abundance, but the transition may lead to job losses, economic uncertainty and a crisis of purpose for many workers. He has suggested shorter working hours, earlier retirement and selective AI adoption as possible ways to manage the disruption.
Oracle's Larry Ellison dismisses 'SaaS apocalypse' fears, says AI will make software better
Speaking at Oracle AI World here, Ellison, the company's executive chairman and chief technology officer, rejected talk of a "SaaS apocalypse", in which businesses would use AI to build their own applications instead of buying software-as-a-service (SaaS) products.
As Microsoft offers buyouts to 60,000 employees, a tech leader explains the hidden risks of such a large-scale offer
Microsoft's voluntary buyout offer to around 60,000 employees has led a technology advisor to flag two risks companies may overlook when experienced workers leave. Rob Zelinka warns that businesses could lose critical institutional knowledge and face cybersecurity gaps if employee access to accounts, data and internal systems is not managed properly. He also raises questions about how technology companies are balancing investments in AI with workforce decisions.
US midterms: Two Indian-origin face-offs to watch, and why they matter
US Midterm election 2026: Two US House races in the 2026 midterms feature Indian-origin candidates competing against each other, with Ro Khanna facing Republican Ritesh Tandon in California and Pramila Jayapal taking on Republican Nirav Sheth in Washington. Neither seat is considered a major battleground, but the contests highlight the growing political diversity of Indian Americans and contrasting positions on immigration, taxes, technology, affordability and the role of government.
Microsoft offers exit packages to India staff amid $20.5 billion AI push
While the company has not given specifics of the number of people who shall be covered through this programme, there are around 60,000 employees eligible globally. The decision will be taken by December 1, 2026 and those opting for it will be given a package similar to a standard severance offer, including one month of base salary for every completed year of service, health insurance and career transition services.
Ather rides to profit; Pronto's US AI play
Ather Energy swung to profit in the July-September quarter. This and more in today’s ETtech Top 5.
Power to empower must include the power to stay well
“The true value of power lies in its purpose,” the Prime Minister told the Bloomberg New Economy Forum in October. India’s next lever of power is the health of its people, and the digital infrastructure behind CoWIN can now help keep a billion Indians well.
US growth boosted by AI, but no sign of a turning point higher
Economists estimate the growth potential of the US economy to be around 2%, whereas President Donald Trump aspires to double it. Business investments are escalating, primarily driven by the demands for data centers and enhanced AI capabilities, which can positively affect GDP growth. However, the influence of artificial intelligence on productivity is still unpredictable, and tariff strategies for cutting imports yield mixed results, affecting the market dynamics significantly.
SBI's Setty sees 50 bps more rate hikes, says retail loan quality unlikely to suffer
State Bank of India chairman CS Setty noted that upcoming rate hikes could affect discretionary consumption demand. He highlighted that retail asset quality is expected to remain stable at the system level. Setty indicated a projected 0.50 percent rate hike in December, followed by a pause in February. Additionally, he discussed plans for a new version of the Yono app aimed at Jan Dhan account holders.
From Carnegie to Claude: AI wealth could reshape philanthropy
A wave of American wealth created by artificial intelligence companies could produce some of the largest charitable sums since the era of Andrew Carnegie and John D. Rockefeller, raising questions about where the money goes. Nan Ransohoff of payments firm Stripe has described the moment as a "third wave" of American philanthropy, after the industrial fortunes of the late 19th century and the internet billionaires of recent decades.
Piyush Goyal asks ministry to identify AI-proof jobs, eyes handlooms, handicrafts and tourism, says India can lead in traditional sectors
Union Minister Piyush Goyal is guiding efforts to identify AI-proof professions that leverage India's skilled labor force. He emphasized the nation’s strengths in sectors like handlooms, handicrafts, and tourism. Goyal plans to attract Indian scientists and engineers from overseas to contribute to India’s growth. Discussions are ongoing regarding how to create a supportive ecosystem that encourages talent to return home.
India's manufacturing and services sectors are projected to generate more than 35 crore new jobs by 2030: Report
India's manufacturing and services sectors are projected to create more than 35 crore new jobs by 2030. The automotive sector alone is expected to add 20-25 lakh direct jobs during this period. Growing demands in logistics and clean energy will require significant numbers of skilled workers as well. There is an urgent need for collaboration between industry and education to meet these challenges.
‘France’s protests increased polarisation — and helped the far-right’
Recent protests in France erupted from student frustrations surrounding educational systems and inadequate school environments. As the movement evolved, it brought to light broader issues such as soaring living costs and employment stagnation. The troubling economic backdrop of national debt and inflation has intensified citizens' worries, particularly the younger generation's outlook on jobs and climate change. This upheaval threatens to deepen the political divide as it interrogates existing social policies.
Software majors delete 24,000 jobs across IT and engineering in a year
Over the last one year, Tata Consultancy Services (TCS), Infosys, HCLTech, Wipro, Tech Mahindra and LTIMindtree collectively recorded 92,000 exits, in line with the industry's normal attrition rate of 11-15%. However, with exits outpacing hiring of new employees in the IT and engineering functions in five of the last six months, overall intake over the 12 months fell by 24,422 to 68,000, data from staffing firm Xpheno showed.
When AI makes 'money irrelevant' what happens? Elon Musk answers how humans will stay 'happy' in a future with automation and space travel
Elon Musk believes advances in artificial intelligence, robotics and space travel could eventually make conventional money less important by transforming the global economy. Speaking to Walter Isaacson on The Builders podcast, the Tesla and SpaceX CEO said people would find ways to be happy even if they no longer needed to work, comparing the possibility to retirement. Musk also predicted that digital superintelligence could significantly increase global economic output.
AI challenges maths by solving the unsolvable
The recent surge in artificial intelligence capabilities has resolved a number of long-standing mathematical conundrums, leading many mathematicians to rethink their future contributions in the field. Specialists argue that mathematics is crucial for fostering clear thought and greater insight. To assist mathematicians in transitioning to this AI-integrated era, organizations are funding workshops. Conversations continue to highlight that mathematics embodies processes as much as it does solutions.
Microsoft’s Satya Nadella asked if AI will kill us all: Here’s how he responded
Satya Nadella underscored the critical role of the AI sector in safeguarding humanity from potential dangers. He articulated that the primary duty of this industry is to prioritize safety. Nadella urged for robust regulations and standards governing advanced AI systems. He also pointed out that aligning AI with user goals could enhance public confidence in the technology.
Low-cost jobs will be taken over by AI, most worried about outsourced ones: Workday CEO
Workday Chairman and Chief Executive Officer Aneel Bhusri told reporters at the Workday Rising Summit that AI will not lead to jobs moving out of the US or first-world countries, but may do the opposite.
Artificial intelligence may create more jobs than it replaces in India: Piyush Goyal
Union Minister Piyush Goyal announced that artificial intelligence is poised to generate significant job opportunities for the youth of India. While he noted the potential for initial disruption as job roles evolve, he stressed the necessity for workers to acquire new skills. Goyal pointed out that sectors like tourism and sports will always demand human interaction, indicating that India’s growth hinges on investment in manufacturing and technological innovations.
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