Crypto Industry Cuts Headcount as AI Adoption Spreads… Debate Over “Pretext vs. Restructuring”
Summary
- It reported that the crypto industry is seeing a series of job cuts attributed to the adoption of artificial intelligence (AI).
- Crypto.com said it carried out a roughly 12% headcount reduction and restructuring as it advances companywide AI adoption.
- It reported that debate continues over whether companies are using AI to dress up previously planned restructuring, rather than AI adoption itself.
Forecast Trend Report by Period
In the crypto (cryptocurrency) industry, a wave of job cuts is continuing, with companies citing the adoption of artificial intelligence (AI) as the reason.
According to crypto-focused media outlet DL News on the 20th (local time), Crypto.com recently said it carried out layoffs of about 12% as it pushes for companywide AI adoption. The company explained that it “proceeded with restructuring centered on certain roles that are no longer suited to the new environment.”
The industry, however, is split on how to interpret the move. Some see it as the result of efficiency gains from AI adoption, while others argue it could be a pretext to justify previously planned layoffs.
The outlet reported, “Many companies are cutting jobs citing AI, but it is not clear whether they are simply wrapping pre-planned restructuring in the guise of AI.”
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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