Can AI do 40% of your job? Block’s Jack Dorsey thinks so

Jack Dorsey to cut 4,000 workers at Block amid AI advances – but specters such as weak crypto market haunt company Jack Dorsey cited AI as the driving force behind cutting 40% of his company’s employees, but other factors such as a weak crypto market, overstaffing and a declining stock price may also have motivated the move. Last week, the financial technology company Block announced that it would lay off 4,000 of its 10,000 workers. Dorsey, Block’s CEO, said in a letter to shareholders that ...

By Blake Montgomery