Top Tech News Today: HP plans to lay off nearly 6,000 employees by the end of 2025! Russia may launch its own crypto exchange
HP plans to lay off about 6,000 employees by the end of 2025! Read more tech news below
Good morning techies, here are some quick tech updates to keep an eye out for!
What’s new today: The new AI of the Meta, known as Cicero, is supposedly better at diplomacy than humans and can even negotiate with them to complete certain tasks.
Accelerated Analytics: Cryptocurrency exchange Bybit has set up a $100 million fund to support institutional clients during major economic and crypto turmoil.
HP is joining the ongoing layoffs and will lay off between 4,000 and 6,000 employees. In its recent earnings report, the company said it expects to cut its gross global headcount by about 6,000 employees, nearly 10% of its workforce. These layoffs will be completed by the end of fiscal year 2025. A new “Future Ready” strategy will be introduced this quarter to continue to better serve customers and achieve long-term organizational goals.
Meta has released a new AI tool called Cicero, which is supposedly better than any other person at diplomacy. Generally, traditional AI systems don’t work well with humans to complete certain tasks. However, Cicero’s AI in Meta can do a lot more. The Fundamental AI Research Diplomacy team trained AI to achieve human-level performance with the military strategy board game Diplomacy.
Several South Korean medical startups that offer AI-based imaging solutions are increasingly partnering with local and international multinationals to meet the growing demand for hospitals. The diagnostic imaging market in South Korea is expected to grow at a tremendous pace between 2023 and 2030.
Russian law enforcement agencies are working on amendments to launch a national crypto exchange. These efforts are supported by both the Ministry of Finance and the Central Bank of Russia, which have a long history of disagreement over the regulation of cryptocurrencies in the country. Members of the lower house of the Russian parliament, the Duma, discussed amendments to the country’s existing cryptocurrency regulations with market stakeholders.
Cryptocurrency exchange Bybit has set up a $100 million fund to support institutional clients during this challenging period in the crypto industry. Bybit will offer up to $10 million to existing and new market makers on its platform, as well as dedicated account managers. The cryptocurrency market has reportedly lost about two-thirds of its value in a year and has been shaken by the collapse of market participants. Bybit is following in the footsteps of Binance in reviving the market.
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