Tech
HP plans to lay off nearly 6,000 employees before the end of 2025! Russia could launch its own cryptocurrency exchange
HP plans to lay off around 6,000 employees by the end of 2025! Read more tech news below
Good morning tech family, here are some quick tech updates for you to follow!
Today’s news: Meta’s new AI known as Cicero is supposedly better than humans at diplomacy and can even negotiate with them to achieve certain tasks.
Quick insights: Cryptocurrency exchange Bybit has established a $100 million fund to support institutional clients during major economic and crypto turmoil.
HP will join the ongoing layoffs and eliminate 4,000 to 6,000 employees. In its recent earnings report, the company said it plans to reduce gross global headcount by about 6,000 employees, or nearly 10% of its workforce. These layoffs will be completed by the end of fiscal 2025. The new “future ready” strategy will be introduced this quarter to continue to better serve customers and pursue long-term organizational goals.
Meta has released a new AI tool called Cicero that is supposedly better at diplomacy than any other human. In general, traditional AI systems are not very good at cooperating with humans to achieve certain tasks. However, Meta’s Cicero AI can do much more. The company’s fundamental AI research team trained AI to achieve human-level performance through the war strategy board game Diplomacy.
Several South Korean healthcare technology startups offering AI-based imaging solutions are increasingly collaborating with domestic and international multinationals to meet the growing demand in hospitals. South Korea’s diagnostic imaging market is expected to grow at a massive annual rate between 2023 and 2030.
Russian law enforcement agencies are working on amendments to launch a national cryptocurrency exchange. This effort is 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, have held discussions with market stakeholders regarding changes to existing cryptocurrency regulations in the country.
Cryptocurrency exchange Bybit has established a $100 million fund to support institutional clients during this difficult period in the cryptocurrency 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 around two-thirds of its value in a year and has been rocked by the collapse of market participants. Bybit is following Binance’s footsteps in reviving the market.