The use of ChatGPT for handling employee terminations has been admitted by one in ten IT HR staff

Good morning tech fam, here are some quick tech updates for you to catch on to!

What's New Today: The latest wave of layoffs at Byju is related to a legal dispute with US lenders.

 Fast-Track Insights: Internal Teams for Token Trading are Available at Crypto.com

The application of AI has been truly transformed by ChatGPT. OpenAI's generative AI chatbot debuted in November 2022 and quickly became ingrained in both personal and professional lives. ChatGPT is used by students to get help with assignments, by travelers to plan their trips, and by businesses to help their employees work more efficiently. A recent report reveals that over half of tech HR employees are utilizing the AI chatbot for their work, shedding light on the diverse uses of ChatGPT in various corporate sectors. The AI chatbot is being used by the human resources departments for a variety of tasks, including recruiting, employee relations, surveys, performance evaluations, and training.

As part of its restructuring, the educational technology giant Byju has laid off approximately 1,000 employees across all departments. According to a source familiar with the situation, "Byju's has laid off close to 1,000 employees." This occurred at a time when the company was engaged in a legal dispute with lenders in the United States regarding a term loan B of one billion dollars. However, despite the addition of new employees, the company's final workforce remains around 50,000. The recent layoff is part of the process that the company is using to cut costs. "Since October 2022, when it unveiled its strategy to become profitable by March 2023, the company had laid off approximately 5% of its 2,500 employees.

Artificial Intelligence to Enhance Smart Grid Cybersecurity: Even though security solutions are becoming modern and robust, cyber threats are ever-evolving and always at their peak. The main reason is that the conventional methods to detect malware are falling apart. Cybercriminals regularly devise smarter ways to bypass security programs and infect the network and systems with different kinds of malware. The thing is. Currently, most antimalware or antivirus programs use the signature-based detection technique to catch the threats, which is ineffective in detecting new threats. This is where Artificial Intelligence can come to the rescue. Read More

According to unidentified sources, the leading cryptocurrency exchange with its headquarters in Singapore employs its trading and market-making teams. The sources are five individuals in the loop, as per the article. For similar allegations, U.S. regulatory authorities have begun to crack down on other cryptocurrency exchanges recently. The securities regulator filed dozens of charges against Binance in a lawsuit last week. One of these is Binance CEO CZ owning a trading company to manipulate trade to artificially increase Binance's trading volume. This platform is the largest by this crucial metric, just to be reminded.