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What's New Today: IT Giants Anticipate Hiring Reductions Amid Onboarding Delays
Fast-Track Insights: Ripple's SEC Legal Battle Casts Shadow on XRP
Technology entrepreneur Elon Musk is making strides in the realm of artificial intelligence with the introduction of his chatbot, Grok, aimed at rivaling OpenAI's ChatGPT. Musk's latest venture, Grok-2, promises enhanced AI capabilities and is set to debut this week. With Musk's reputation for pushing technological boundaries, the competition between Grok-2 and ChatGPT is poised to drive innovation in the field of AI-driven chatbots.
Major IT giants like TCS, Infosys, and Wipro are contemplating a 30% reduction in fresh graduate hiring for FY24, citing a weakened business outlook. This decision comes amid ongoing uncertainties in the US economy and a dwindling deal pipeline. Meanwhile, recent engineering graduates from the classes of 2022 and 2023 are grappling with persistent delays in their onboarding processes, raising concerns about industry reforms and job market stability. Nascent Information Technology Employees Senate (NITES) President Harpreet Singh Saluja has received complaints from thousands of affected students, highlighting the urgent need for addressing these challenges.
AI has undoubtedly become one of the most talked-about topics in recent years, captivating the imagination of technologists, entrepreneurs, and the general public alike. However, amidst the hype and excitement surrounding artificial intelligence, there's a growing debate about whether AI is overrated. Some critics argue that AI is simply advanced curve fitting, rather than the revolutionary technology it's often portrayed to be.
Amidst Ripple's legal battle with the SEC, uncertainty looms over XRP's market trajectory. Better-than-expected US economic data triggered net outflows in the BTC-spot ETF market, reflecting investor sentiment. While no updates directly impacted XRP prices, the SEC's plan to appeal against Programmatic Sales ruling poses a significant headwind. Recent court rulings favoring the SEC further complicate matters, potentially affecting the US crypto market's future landscape. XRP's price action signals a cautious outlook, with key support and resistance levels influencing its trajectory in the short term.
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