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BTC $62,666.07 -1.29%
ETH $1,666.61 -1.78%
BNB $596.38 -1.49%
XRP $1.13 -0.33%
SOL $65.48 -1.25%
TRX $0.3257 -0.32%
DOGE $0.0848 -1.45%
ADA $0.1669 +1.31%
BCH $204.41 -11.19%
LINK $7.83 -1.63%
HYPE $62.24 +2.56%
AAVE $62.19 -2.29%
SUI $0.7342 -3.83%
XLM $0.1989 -3.42%
ZEC $451.03 +4.91%

impact

Goldman Sachs CEO discusses the impact of AI: AI is more inclined to enhance productivity rather than directly eliminate jobs

Goldman Sachs CEO Solomon wrote in The New York Times that the market's concerns about AI triggering a "massive wave of unemployment" are exaggerated. The U.S. economy will continue to create more new jobs through technological transformation, just as it did during the past industrial revolution and the internet era. Solomon stated that Goldman Sachs expects AI or automation to affect about 25% of existing work hours over the next decade, with significant impacts on white-collar sectors such as banking, accounting, and law. Research from Stanford shows that entry-level positions in highly automated roles like software engineering and customer service have declined by 16% compared to less automated industries.However, he pointed out that AI is also creating new job demands. For example, since 2022, the construction of data centers in the U.S. has generated over 200,000 construction jobs. Goldman Sachs itself may reduce some compliance and account opening positions but will increase hiring for client-facing roles in banking, trading, and asset management. Solomon believes that AI is more likely to enhance productivity rather than directly eliminate 25% of jobs. He stated, "Technological advancement and cultural change do not occur simultaneously; being replaceable does not mean one will necessarily be replaced." He also called for the government and businesses to jointly promote large-scale job retraining to address the structural changes in the workforce brought about by AI.

Gate Ventures: Inflationary pressures impact the market, institutions accelerate the layout of stablecoins and on-chain financial infrastructure

According to Gate Ventures' latest weekly report, global markets were significantly pressured last week due to inflation data and rising energy prices. The S&P 500 index initially broke through 7,500 points for the first time, but subsequently fell back as both CPI and PPI data exceeded expectations, leading the market to begin pricing in potential interest rate hike risks. Against this backdrop, the cryptocurrency market also weakened, with BTC dropping 8.1% last week and ETH falling 10.2%. The spot BTC ETF recorded a net outflow of $1 billion, and market sentiment returned to the "panic" range.At the industry level, institutional investments in stablecoins and on-chain financial infrastructure are accelerating. JPMorgan is advancing a tokenized money market fund aimed at stablecoin issuers; DTCC will use Chainlink to build an all-weather collateral management network; Hana Bank has acquired a stake in Upbit operator Dunamu for $670 million, further reflecting that traditional financial institutions are accelerating their entry into the cryptocurrency infrastructure sector.In terms of investment and financing, a total of 14 financing deals were completed last week, with a total scale of $1.113 billion, of which financing in the infrastructure sector exceeded $1 billion, dominating the market. Blockchain analytics firm Elliptic completed a $120 million financing round, with Deutsche Bank and Nasdaq participating; Bitcoin custody platform Onramp also completed a $12.5 million Series A financing, continuing to expand its institutional-grade custody infrastructure. Overall, in the context of rising macro uncertainty, market funds continue to concentrate on compliance, custody, and institutional-grade services.
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