Top Tech News Today: No Need to Fear AI, Says AI ‘Godfather’ Yann LeCun. Hong Kong Urges 3 Major Banks to Serve Crypto Exchanges.

The comments were delivered by Meta's senior AI researcher during a press conference in Paris

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

What's New Today: Oracle's Health Unit Shrinks with Job Cuts and Rescinded Offers.

Fast-Track Insights: Hong Kong Urges 3 Major Banks to Serve Crypto Exchanges.

 AI receives a lot of attention. The public outcry regarding AI taking human jobs has skyrocketed ever since the sensational chatbot ChatGPT was introduced by OpenAI. Unfounded concerns about job loss have been voiced by millions of people. These worries have also been exacerbated by the rapid advancements in AI technologies. However, perhaps the entire world can exhale a sigh of relief.

The Insider, citing three people with knowledge of the situation, reported that software company Oracle (ORCL.N) cut back on open positions in its health unit, rescinded job offers, and laid off hundreds of employees on Thursday. Companies in the United States are dealing with high levels of inflation and rising interest rates, leading to thousands of layoffs. Cerner, an electronic medical records company, is part of Oracle's health unit. In December of last year, Oracle bought Cerner for US$28.3 billion, its largest acquisition ever.

ChatGPT and other generative AI platforms in enterprises have grown significantly. After all, these artificial intelligence platforms can execute various job duties with the correct cues, from emailing and coding to project management and customer care support. The technology is, however, very contentious, with a wide variety of detractors concerned about AI's possible effects on the commercial sector. The primary force behind the movement to outlaw generative AI is uncertainty about its accuracy, although there are many more arguments for doing so. Read More

 To accept cryptocurrency exchanges as clients, the Hong Kong Monetary Authority (HKMA) is exerting pressure on HSBC, Standard Chartered, and Bank of China. In a letter to banks dated April 27, the HKMA stated that doing due diligence on potential clients should not "create an undue burden," especially "for those setting up an office in Hong Kong to look for the opportunities here."