The shocking news comes from London: it crashes BT group -8% after announcing disappointing profits but, above all, in the face of the forecast of gigantic cuts in the workforce: in 2030 the former incumbent will employ 55 fewer people (including 30 workers in related industries). Britain's largest broadband and mobile provider to reduce its workforce by more than 40% once it completes construction of its fiber optic network. A turning point that goes hand in hand with the announcement of cuts in recent days Vodafone (-11 thousand seats) in pursuit of greater profitability for shareholders.
Stock exchanges latest news: BT shock unveils artificial intelligence plans
BT, in particular, aims to catch up thanks to the growth of Open Reach, the wholly owned BT subsidiary that manages the telephone cables, ducts, cabinets and switchboards that connect nearly every home and business in the UK to the national broadband and telephone network. This activity will compensate for the decline of other units with a higher employment intensity. A key role in this area will be entrusted to the development of new services in the wake of the evolution of Artificial Intelligence, increasingly at the center of the attention of the markets (Nvidia, producer of chips for Open Ai sales of 100% since the beginning of the year), but also of concerns of regulators and scientists, worried about the danger of fake news.
Artificial intelligence plays a trick on the Irish Times
In this matter it is worth reflecting on thecomic injury (but not too much) occurred at theIrish Times, Dublin's leading newspaper. On May 4, a long speech by Adriana Acosta Cortez, who presents herself as an immigrant from Ecuador for eight years. The lady rails against the trend of self-tanning creams that are widespread on the island for a "cultural fetish" but at high risk for the effects on the skin. The intervention is judged worthy of publication, provided it is accompanied by a photo and a brief biography of the author who, on time, delivers to the newspaper a portrait of her written about her and her own image.
Mrs. Adriana's speech, once published, arouses a wide debate among readers. A couple of local radio stations turn to the newspaper for Mrs. Acosta's address. Surprise. The number she attached turns out to be that of… a clown. Yes, just that of one of the most famous protagonists of the circus. And after an embarrassed investigation, the newspaper was forced to confess that Mrs. Adriana doesn't exist and that the article was the result of a collection of requests to ChatGpt, the artificial intelligence available on Bing, the Microsoft search engine. One creepy joke, there is no denying it.
But the European stock exchanges are all on the rise. Frankfurt runs
Meanwhile today half of Europe, including France and Germany, is celebrating the feast of the Ascension. In Italy it is a working day like any other, which does not prevent a Business Square to catch up with the other markets with a convincing rise of more than 1%, thanks to the break of Saipem +3,5% after collecting new contracts for 850 million dollars and the rebound of the banks. The other stock exchanges, despite the holiday, take advantage of it to accelerate in the wake of Wall Street. In particular accelerates the German stock exchange. Dax of Frankfurt +1,50% hits the highest since January 2022. Volkswagen advances by 2,33% thanks to the automaker's plans to renew the main brand by remedying the accumulated delays in the software. Back to positive ground Deutsche Bank +0,25% after the lender has agreed to pay 75 million dollars to settle a lawsuit filed by women who claim they were sexually abused by the late financier Jeffrey Epstein and who accuse the German bank of aiding their sexual exploitation. And this is not fake news.
