Tech Report: AI job replacements, TikTok sale update, crypto expansion

Companies like IBM and Klarna are among the few being transparent about artificial intelligence replacing human roles.

(LILAMAX) – Companies like IBM and Klarna are among the few being transparent about artificial intelligence replacing human roles. While AI is increasingly impacting the workforce, most companies continue to frame job cuts using terms like “restructuring,” “reorganization,” or “optimization.” Business analysts say few are willing to openly admit AI is taking over human jobs.

In other tech news, Blackstone has pulled out of a consortium of investors aiming to purchase TikTok’s U.S. business, according to Reuters. ByteDance, TikTok’s parent company, has until mid-September to reach a deal or risk a U.S. ban. Meanwhile, the company is reportedly working on a separate, U.S.-specific version of the app.

For those looking to dive into cryptocurrency, Charles Schwab plans to offer Bitcoin and Ethereum trading. The firm hopes to attract clients who want to manage their crypto alongside traditional assets. Schwab’s CEO noted that crypto currently represents a small slice—about $25 billion—of the company’s $10.8 trillion in client wealth.

A new survey from Common Sense Media finds that nearly 75% of U.S. teenagers have used AI tools at least once—often for advice or meaningful conversations. However, most teens still prefer human interaction, spending more time with real friends and finding those experiences more fulfilling.