Top Tech News Today: Innovative Artificial Intelligence Technology from Meta’s ImageBind. HSBC Enters Crypto Space with New Services in Hong Kong

The breakthrough is predicted to have an impact on the path of the Artificial Intelligence industry

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

What's New Today: KPMG announces new round of layoffs affecting 5% of US employees.

Fast-Track Insights: HSBC enters the crypto space with new services in Hong Kong.

Over the past several months, discussions regarding artificial intelligence have taken over the world. The introduction of ChatGPT, OpenAI's ground-breaking new language model that produces genuine human-sounding text in response to cues and inquiries, contributed to the current flurry of enthusiasm around AI. Google then released Bard AI, a chat service that used AI to take data from the Internet and produce replies that resembled those of a human.

In response to "economic headwinds, coupled with historically low attrition," a KPMG representative said on Monday that the Big Four accounting behemoth is firing 5% of its U.S. workforce. At the end of its most recent fiscal year, which ended on September 30, the company had nearly 39,000 workers working there. The first of the four largest accounting companies in the world to reduce employment in the nation was KPMG, which, according to a Financial Times story, slashed around 2% of its U.S. personnel in February.

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The largest bank in Hong Kong, Hong Kong, and Shanghai Banking Corporation (HSBC) is said to have launched its first local cryptocurrency services. Local journalist Colin Wu tweeted on June 26 that HSBC has made it possible for its clients to buy and sell exchange-traded funds (ETFs) built on the Bitcoin platform. The article states that HSBC would sell bitcoin ETFs that are listed on the Hong Kong Stock Exchange. CSOP Bitcoin Futures ETF, CSOP Ethereum Futures ETF, and Samsung Bitcoin Futures Active ETF are the three crypto ETFs that are currently available on the exchange's list.