According to iqbusiness's Biase De Gregorio and Morgan Goddard, most companies have not yet implemented artificial intelligence (AI) solutions, countering concerns about job losses due to AI replacement. They emphasize that the focus should be on the potential benefits of AI rather than the fear of job displacement.

Oracle's workforce decreased by 13%, equating to approximately 21,000 employees, in the past year, a reduction attributed in part to the company's increased adoption of artificial intelligence, according to TechCentral.

A new World Bank assessment indicates that artificial intelligence (AI) has the potential to reshape the global economy and enhance growth, particularly as global markets face challenges such as geopolitical tensions, declining productivity, and a fragile recovery from the pandemic. The report highlights the transformative impact of AI amidst these ongoing economic issues.

Bankers in Nigeria have expressed concerns that traditional audit and governance frameworks are becoming insufficient due to the rapid advancements in artificial intelligence, which is transforming banking operations, risk management, and fraud detection. This warning was made during the 64th Quarterly General Meeting of the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN) held in Lagos.

Investec, a dual-listed lender, is implementing Microsoft’s AI assistant for all employees in South Africa and the UK. This initiative aims to enhance productivity and streamline operations across the organization.

According to The Citizen Business, South Africa has lost 80,000 formal sector jobs over a three-month period, which may be attributed to companies retrenching and shutting down. This significant decline in employment raises concerns about the economic stability in the region.