⚠️ Wall Street to lose 200,000 jobs to AI

Also: Grok iOS App Available in the US

Author

Evolving AI
January 10, 2025

In partnership with

Welcome, AI enthusiasts

Major Wall Street banks are expected to slash up to 200,000 jobs over the next three to five years due to AI adoption, according to Bloomberg. Elon Musk’s xAI Grok chatbot is now available as a stand-alone app on iOS. Google is testing personalized audio experiences with podcasts from your Discover feed. Lastly, OpenAI has added customization features to ChatGPT, allowing it to adapt to your style. Let’s dive in! 

In today’s insights:

  • Wall Street to lose 200,000 jobs to AI

  • Grok iOS App Available in the US

  • Google Experiments with AI-Generated Podcasts

  • Personalize ChatGPT with New Traits Feature

Read time: 5 minutes

🗞️ LATEST DEVELOPMENTS

Source: Bloomberg

Evolving AI: Banks around the world might cut 200,000 jobs in the next 3-5 years because of AI taking over simple tasks.

Key Points:

  • Experts say banks may cut about 3% of jobs as AI becomes more common.

  • Jobs that involve routine tasks, like in back offices, are at the highest risk.

  • AI could help banks make $180 billion more in profits by 2027.

Details:

Banks are starting to use more AI tools to improve how they work. This could mean fewer jobs in areas like back offices, middle offices, and customer service. Surveys show that some banks may cut up to 10% of their jobs. Even though jobs will be lost, AI is expected to make banks more productive and profitable, adding up to $180 billion to their earnings by 2027. Big banks like JPMorgan and Citigroup believe AI will change how people work, not completely replace them. While AI takes over repetitive tasks, workers may shift to doing more creative and complicated jobs.

Why It Matters:

Workers at all levels may need to engage in ongoing education and skill development to remain relevant in a rapidly changing job market. While this transition presents challenges, it also offers opportunities for those willing to embrace new technologies and develop expertise in emerging fields. The future of finance may well belong to those who can effectively collaborate with AI systems, leveraging it to enhance human decision-making and strategic thinking.

Hire Ava, the Industry-Leading AI BDR

Ava automates your entire outbound demand generation so you can get leads delivered to your inbox on autopilot. She operates within the Artisan platform, which consolidates every tool you need for outbound:

  • 300M+ High-Quality B2B Prospects

  • Automated Lead Enrichment With 10+ Data Sources Included

  • Full Email Deliverability Management

  • Personalization Waterfall using LinkedIn, Twitter, Web Scraping & More

Evolving AI: xAI’s Grok chatbot expands from X to a stand-alone iOS app, now available in the US and in some other countries. Download the app here →

Key Points:

  • Grok now has a dedicated iOS app, live in the U.S., Australia, India, and more.

  • Features include web access, generative AI for text and images, and real-time updates from X.

  • A free version is available, and a web platform is set to launch soon at Grok.com.

Details:

Elon Musk’s AI company, xAI, has rolled out a stand-alone iOS app for its chatbot, Grok, expanding access beyond X users. Available in multiple countries, the app integrates web and X data, offering features like real-time Q&A, text rewriting, summarization, and image generation. Users can now create realistic images without major restrictions, even involving public figures or copyrighted material. A dedicated site, Grok.com, will soon make the chatbot accessible on the web. Previously limited to paying subscribers, Grok began offering a free version in November, now available to all.

Why It Matters:

Grok’s integration of live data and advanced image and text generation offers practical tools for boosting creativity and productivity. Now that Grok is available as a standalone mobile app, following ChatGPT's earlier mobile presence, it's likely that others — such as Meta, Google, and Anthropic — will follow suit at some point.

Source: 9to5Google

Evolving AI: Google experiments with a personalized podcast summarizing your Discover feed.

Key Points:

  • Google’s experimental Daily Listen feature creates AI-generated podcasts based on your Search and Discover feed activity.

  • The feature offers five-minute audio overviews, complete with text transcripts and playback controls.

  • Available via Search Labs, it lets users rate and explore related topics directly within the Google app.

Details:

Google’s new Daily Listen feature, an experimental tool from Search Labs, is transforming search and Discover feed interactions into brief, personalized audio summaries. Using AI, it compiles stories you’re most likely to care about, delivering a five-minute podcast-style overview. Alongside the audio, users get full transcripts and playback tools to pause, rewind, or skip ahead. A “Related stories” section lets users interact further by liking or disapproving content and exploring additional topics. This feature is available to opt-in users in the U.S. on Android and iOS, although it remains unclear if or when it will see a broader release.

Why It Matters:

Daily Listen simplifies access to personalized content with quick audio summaries. Real-time feedback helps it adapt, highlighting the growing role of AI in media consumption.

Evolving AI: OpenAI is making ChatGPT more personal with customizable traits.

Key Points:

  • OpenAI introduces a revamped menu for custom instructions with options for traits like “Chatty” or “Gen Z.”

  • The feature lets users set nicknames, professions, and preferences for tailored interactions.

  • The update leverages prompt engineering, repackaged in a user-friendly interface.

Details:

OpenAI is refining how users interact with ChatGPT, adding an option to assign traits to the chatbot via an updated customization menu. Beyond setting nicknames and professions, users can now request specific tones or personalities, such as “Encouraging” or “Gen Z.” While the technical foundation of prompt engineering remains, the update simplifies the process and makes it accessible to all users. This personalization feature operates independently of ChatGPT’s memory function, which stores broader conversation data. OpenAI maintains moderation to ensure adherence to its terms of use, signaling no change in guidelines despite this enhancement.

Why It Matters:

Customizing ChatGPT’s personality makes interactions more adaptable and engaging. For businesses, it enables branded experiences, while individuals benefit from more relatable AI interactions.

🚗 Amazon and BMW’s AI voice assistant is still coming.

📉 Wall Street Job Losses May Top 200,000 as AI Replaces Roles.

🎨 Midjourney plans complete rebuild for version 7.

🤖 Google maps, the future of AI agents: five lessons for businesses.

🏴‍☠️ Meta knew it used pirated books to train AI.

📈 Trending AI Tools

  • 🥗 Salad - Provides you with an affordable GPU cloud for your business (link)

  • 📧 Breezemail - Organize your inbox with AI (link)

  • 🤝 Pangea - Platform that connects startups with talent (link)

  • 📂 Noah - An AI work assistant integrated with Google Drive, Notion, and more (link)

  • 📧 Mailogy - Talk to your email with AI (link)

Reply

or to participate.