• AI-powered everything poised to take over industries as automated workplaces develop
  • Layoffs Coming as Large Companies Cut Costs
  • AI Meets Mining in Big Win for U.S. in Africa

The world of AI is moving at warp speed, and disruption and job losses from its advancements are on our doorstep.

Klarna is a perfect example, as the Company’s AI-powered payment and shopping solutions platform handles over 2 million daily transactions. Based in Sweden, Klarna is entering the most advanced economies, including Canada, to make online shopping easier.

Listen to the highlights from the Company’s announcement this week in the video below:

According to a Bloomberg article by Matt Day, Humanoid Robots at Amazon Provide Glimpse of an Automated Workplace,

“Employees at an Amazon.com Inc. warehouse near Seattle recently got a glimpse of the future of work: a 5-foot-9-inch robot that resembles a human, walks like a bird and has glowing white eyes. Called Digit, the machine is configured for one basic task: plucking empty yellow bins off a shelf and ferrying them several feet to a conveyor.”

Layoffs Soar in 2024 as Companies Rush to Cut Costs

Numerous major companies are targeting cost cuts in 2024 – and that means firings – even from companies making a profit in today’s economy.

Macy’s is closing at least 5 stores and cutting over 2,300 jobs, while United Airlines just reduced its in-flight services.

As unions demand more money to keep up with the rising cost of living, we are starting to see the trickle down impacts within the economy…

Alex cites UPS, which gave its union workers massive salary and benefit increases in the middle of 2023; however, the Company had to lay off thousands in early 2024, citing higher costs. Companies will increasingly use AI-powered, less labor-intensive options to complete jobs as human labour costs continue to rise.

AI-Powered Mining Startup Beats China in Africa

Recently, in a demonstration of American innovation, KoBold Metals, a California-based junior mining startup backed by billionaire investors Bill Gates and Jeff Bezos, discovered a massive copper deposit in Zambia, touted as the largest in the country in a century.

In Gates, Bezos-backed KoBold Metals says Zambia copper find largest in a century, by Cecilia Jamasmie, she highlights the significance of the discovery,

“President Hakainde Hichilema said that, according to government figures, Mingomba will produce “well over” 500,000 to 600,000 tonnes once at full tilt.

In comparison, Escondida mine in Chile, the world’s biggest copper operation, produced more than a million tonnes of the metal last year, and Grasberg, in Indonesia, churned out about 770,000 tonnes of copper in 2022.”

Aaron explains the significance of this discovery as billionaires and AI enter the mining sphere. For the U.S., this represents a big win, as China has dominated this region of Africa for years.

From mining to tech and every sector in-between, the AI-powered economy is poised for success.