ARK Invest CEO and CIO Cathie Wood gives her perspective on what factors are driving the layoffs in the technology industry on 'Mornings with Maria.'
ARK Invest CEO and CIO Cathie Wood discusses where she sees growth in the stock market, and the future of technology and artificial intelligence sectors.
Technology companies are slashing jobs at an alarming rate in the post-pandemic economy. Famed stock picker and ARK Invest CEO Cathie Wood argued that these layoffs should not be viewed as a sign the industry is in "disarray." "We don't think this is the technology sector in some kind of disarray or sunsetting in some way or the opposite. We think they're harnessing new AI tools and other technologies to increase productivity and provide new products and services," Wood said on "Wood argued that tech companies are utilizing layoffs to correct over-hiring during the height of the pandemic when productivity was a major concern.
"Many of these technology companies had had to gear up to handle COVID, and they did a beautiful job. I mean, Zoom, what it did, going from 20 million users to 200 million users in a year to 18 months, the technology to accommodate that, being able to do that was probably one of the greatest technology feats we've seen in quite some time," she said. "Of course, now we're seeing the opportunity with A.I. for productivity gains.
As of 2022, Amazon peaked at roughly 1.6 million employees, although recent layoffs have affected that number. In contrast, Amazon currently has more than 520,000 robots in use as of mid-2022.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Cathie Wood's Ark Invest is loading up on these 2 small-cap stocksCathie Wood's Ark Invest has loaded up on these 2 small-cap names for the last 7 trading sessions
Leer más »
Ethereum (ETH) Going to Valhalla, Says Former Ark Invest Analyst$ETH price performance will surprise investors closer to Shanghai update, believes cburniske
Leer más »
Lost Ark Announces Plans For First Anniversary CelebrationLostArk has been around for a solid year, and to mark the occasion, AmazonGames will be holding a few festivities.
Leer más »
Nine global banks invest $45 mln in carbon credit platformNine global banks have invested a total of $45 million in a new platform to help scale up transactions of voluntary carbon credits and make it easier for their customers to participate in the market.
Leer más »
Deutsche Bank in Talks to Invest in 2 German Crypto Firms: BloombergGerman banking giant Deutsche Bank AG is looking to invest in two German crypto companies as it looks to drive growth, according to Bloomberg. HeleneBraunn reports
Leer más »
Foxconn in talks to invest in India's Karnataka stateIndia's southern Karnataka state is in serious talks with Taiwan's Foxconn over investment plans, Chief Minister Basavaraj Bommai said on Wednesday, potentially setting it up as the Indian third state to host Foxconn.
Leer más »