Tech Report: Banks aren’t ready to embrace AI like ChatGPT

What Bank of America's CEO has to say about the AI

Wall Street has “some work to do” before it can begin using popular technology such as ChatGPT. Bank of America’s CEO believes that digital banking will be a powerful tool someday, he says that ChatGPT has some issues. Inaccuracy and lack of data-based responses make using the popular text-generator a challenge.

Verizon is raising the prices on some of its older cell phone plans. The move is part of a broader effort to get more of its customer base on 5G plans. Customers who decide to stay on one of Verizon’s older unlimited plans will be charged an additional $2 a month. The change will take effect on April 10.

SiriusXM said its cutting 8% of its workforce, or 475 roles. The car radio subscription company has been looking to reorganize its business. Layoffs have been common across the media and technology industry in recent months as companies face macroeconomic challenges and brace for a possible recession.

Google told employees via email that fewer of them will be receiving promotions in the upcoming performance review cycle. The announcement comes amid companywide cost-cutting efforts. The company is also  implementing of a new performance review system.

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