Norway Sovereign Wealth Fund CEO: Despite Cost Savings from AI, There Will Be No Layoffs

BlockBeats News, March 24th, according to Bloomberg, the Norwegian sovereign wealth fund has saved "billions of kroner" in costs by using artificial intelligence in trading and investment decisions, but these gains will not lead to layoffs, the fund's CEO said.

The fund's CEO, Nicolai Tangen, said in an interview on Tuesday: "You should introduce artificial intelligence into society to increase productivity and value creation, rather than using it to reduce staff." He also described such layoffs as "disruptive."