Wall Street remains bullish on AI

AI is extending its reach on Wall Street as companies exhibit strong demand for the tech and reshape their workforces around it.

Anthropic on Tuesday unveiled a new slate of agents aimed at handling financial services tasks like reviewing balance sheets and drafting pitch decks; market intelligence stocks subsequently fell.

Top financiers leaders remain optimistic on the demand for AI; the heads of JPMorgan and BlackRock on Tuesday both dismissed concerns of an AI bubble.

The boom is also increasingly changing the nature of work.

Cryptocurrency exchange Coinbase said it will lay off 14% of its staff, citing AI’s use to pivot toward “one-person teams,” in which a single employee acts as an engineer, designer, and product manager.