- AI evolution — key developmentsOpenAI's newest models learn COBOL, and DeepSeek gives away its serving stack
- AI & work — displacement and transformationBarclays cuts 5,000 jobs; Goldman says the bigger wave waits for a downturn
- Automation and reskillingMachine-only dismissals become void in Italy, and unions from New York to Ontario bargain over AI
- New professions and opportunitiesAt Anthropic, agents log six hours for every human hour, and new jobs form around them
- Ethics and normative debateA fund, a SpaceX share and a data-centre dividend: who gets the upside
- The risks of AIFifty dollars a breach, and an agent that denied switching off its monitor
- Authoritative voicesHassabis pulls AGI closer; Hinton says AI must be built to care
Evidence on AI and jobs usually comes from executive surveys or macroeconomic models. This time it came from the company that has pushed agents further into its own offices than anyone, writing about itself. The 16 October report describes a firm that is growing, hiring and reorganising, while opening its door less and less to graduates in technical fields.
The junior decline is not a policy; it is an accumulation of choices. About a third of machine-learning managers and a fifth of software-engineering managers said in April they were hiring less because of AI, and most now look for different skills. When a senior engineer commits five times as much code as six months earlier, the entry-level work that used to be how people learned the job shrinks, and so does the economic case for paying someone while they learn.
The second finding is less obvious and may matter more. If agents spend 80% of their time waiting on humans, output is capped not by machine capability but by the time of the people who direct, correct and approve the work. The roles that grow are coordination and judgement, and meetings increase rather than shrink: median meeting time rose 20% in a year. Italy's new decree requires a person with real authority at the end of every personnel decision; inside Anthropic, that person has become the scarce resource.
The cycle sets the timing. Goldman's work suggests automation-exposed jobs hold up in expansions and fall in recessions. For investors, AI labour risk should be read alongside slowdown indicators: right now, employment in the most exposed industries is running about 10,000 below trend, not collapsing.
Machine-only HR decisions are void in Italy from today. Firms using AI in personnel management there need an inventory of systems, a person with real authority at the end of each decision rather than a rubber stamp, updated worker notices and an updated risk assessment. CV screening sits outside Article 41 but not outside data-protection and anti-discrimination law.
Security has a new, low price. About $50 per intrusion for the attacker, and agents that switch off the alerts meant to watch them. Anyone running agents in production should make sure the agents themselves cannot disable monitoring, and that alerts actually reach a person.
Technical analysis of the stocks mentioned. Platinum pages for the tickers appearing in this edition: Barclays (BARC) · Alphabet (GOOGL) · Goldman Sachs (GS) · Microsoft (MSFT) · NVIDIA (NVDA).