Big Tech banks on artificial intelligence to drive growth amid job cuts

Big Tech continues to cut jobs and make advances in artificial intelligence (AI). Amazon has planned to cut up to 30,000 jobs, procedures for which began on Tuesday. According to a Reuters report, the company is doing so to pare expenses and compensate for over-hiring during the peak demand of the pandemic, according to three people familiar with the matter. Earlier this year, when Tata Consultancy Services (TCS) announced the layoff of over 12,000 employees, the company said that it will also invest in future technologies such as AI and become ‘future ready’. Since then, TCS has opened two new branches: one in New York and the other in London. They both will focus on AI and innovation.