• Tue. Jan 31st, 2023

TODAY’S TOP TECH NEWS: HP PLANS TO LAY OFF NEARLY 6,000 EMPLOYEES BY THE END OF 2025! RUSSIA MAY INSTALL ITS OWN CRYPTO EXCHANGE

Nov 25, 2022

HP intends to lay off around 6,000 people before the end of 2025! More technology news may be found below.

Good morning, tech friends! Here are some short tech updates for you!

What’s Latest Today: Cicero, Meta’s new AI, is said to be better at diplomacy than humans and can even bargain with them to complete specific jobs.

Fast-Track Insights: Crypto exchange Bybit has established a fund worth around $100 million to assist institutional clients through the current economic and crypto turbulence.

Employees

Nearly 4,000 to 6,000 HP employees will be laid off as part of ongoing layoffs. The company stated in its most recent earnings report that it expects to reduce its global gross headcount by approximately 6,000 employees, or nearly 10% of its workforce. By the end of the fiscal year 2025, all of these layoffs will have been completed. This quarter will see the launch of the new “future ready” strategy, which aims to improve customer service and advance long-term organizational goals.

Cicero, a brand-new piece of artificial intelligence developed by Meta, is said to be superior to any human diplomat. In general, traditional AI systems have a hard time working with humans to complete certain tasks. However, Meta’s Cicero AI has a lot more potential. Through the war strategy board game Diplomacy, the company’s Fundamental AI Research Diplomacy Team has trained the AI to perform at a human level.

South Korea

In order to meet the increasing demand in hospitals, a number of health tech startups in South Korea that provide imaging solutions based on artificial intelligence are increasingly collaborating with multinational corporations, both domestic and international. Between 2023 and 2030, the diagnostic imaging market in South Korea is anticipated to expand at a massive annual rate.

To launch a national cryptocurrency exchange, Russia’s law enforcement agencies are working on amendments. The Ministry of Finance and the Central Bank of Russia, which have a long history of disagreement regarding crypto regulation in the country, support this effort. With market participants, members of the Duma, Russia’s lower chamber of the parliament, have discussed modifying the country’s existing cryptocurrency regulations.

Crypto trade Bybit has laid out a US$100 million asset to help institutional clients during this difficult period in the crypto business. Bybit will provide dedicated account managers and up to US$10 million to existing and new market makers using its platform. The collapse of market participants has reportedly roiled the cryptocurrency market, which has lost approximately two-thirds of its value in a year. Bybit is reviving the market in the same way that Binance did.