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Citigroup: The number of jobs in the banking industry replaced by ai will exceed any other industry.
Citigroup said that the banking industry may have more job positions replaced by AI than any other industry because this technology will disrupt consumer finance and improve employee efficiency. The bank said in a new report on Wednesday that about 54% of all banking jobs have high potential for automation, and another 12% of positions could be enhanced by AI technology. The largest banks in the world have been experimenting more with AI over the past year, hoping that this technology can help improve employee productivity and reduce costs. For example, Citigroup has said it plans to train 40,000
JPMorgan removes the ceiling for British bankers' bonuses and allows them to get up to 10 times their base salary.
JPMorgan has joined the ranks of its competitor Goldman Sachs to remove the bonus ceiling for London bankers, paving the way for higher compensation for senior employees. According to an insider, this move will allow JPMorgan bankers to receive bonuses equivalent to 10 times their base salary. The UK government abolished the cap on banker bonuses last year. A JPMorgan spokesperson said in a statement, “We believe we have developed one of the most attractive and balanced compensation structures in the industry. Fixed pay will still be very competitive and we will have ample room to appropriately reward our top performers.” The person was discussing personnel matters
Cosan Taps Bank of America, JPMorgan, Citi for US IPO of Moove Unit
Taiwan Semiconductor's market cap approaches $1 trillion as major Wall Street firms like Goldman Sachs raise their target prices.
As Taiwan Semiconductor's market cap approaches the $1 trillion mark, the call for optimism is getting higher. Several Wall Street brokerages raised their target price for Taiwan Semiconductor this week, citing the surge in demand for AI-related products and potential price hikes in 2025 that will boost Taiwan Semiconductor's profits. The most optimistic is Goldman Sachs, which raised its target price by 19% to NT$1,160, as it expects the manufacturing prices of 3-nanometer and 5-nanometer chips to rise by "low single-digit percentages." JPMorgan said Taiwan Semiconductor could raise its revenue outlook for 2024 and may even increase capital expenditure to the high end of guidance range, forecasting AI-related growth until 2028.
JPMorgan Chase & Co. (JPM) Is a Trending Stock: Facts to Know Before Betting on It
Those Who Invested in JPMorgan Chase (NYSE:JPM) Five Years Ago Are up 112%
Passive investing in index funds can generate returns that roughly match the overall market. But the truth is, you can make significant gains if you buy good quality businesses at the right price. F
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