Citi to Cut 3,500 Tech Jobs in China as Part of Global Revamp
Citigroup Inc. will cut its technology employee workforce in China by about 3,500 as part of its global simplification efforts, while reiterating its commitment to the world's second largest economy.
The reductions at its Shanghai and Dalian solution centers are expected to be completed by the start of the fourth quarter, the bank said in a statement. Some positions will be relocated to other centers to support Citi's global network. The firm declined to provide staffing numbers at the Chinese locations.
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Forbes
an hour ago
- Forbes
Smart Healthcare: The AI Revolution Empowering The Frontline
The use and integration of AI in medicine is driving a quiet revolution in healthcare Speaking at the recent SXSW London festival, former British Prime Minister Sir Tony Blair said the UK should embrace a future of AI doctors and nurses, or risk being left behind in the biggest upheaval since the Industrial Revolution. He went on to say that fears about artificial intelligence should be outweighed by the 'absolutely transformative' impact it could have on public services like healthcare and education by saving time and money - 'When I stand back and look at what AI is doing, I think we're in the foothills of the most transformative revolution since the Industrial Revolution of the 19th century'. This bold claim by the former Prime Minister follows hot on the heels of news coming out of Saudi Arabia, regarding the world's first AI-powered doctor's clinic, where Shanghai-based Synyi AI's "Dr. Hua" is already diagnosing and prescribing treatment for respiratory ailments. It paints a vivid picture of a future where artificial intelligence autonomously cares for our health in a way that was considered science fiction only a few years ago. But while such developments are thought provoking, I firmly believe that the true, impactful role of AI in the short to medium term is not to replace human clinicians, but to powerfully augment them. There are compelling reasons for this perspective, extending beyond the obvious concern of potential error and the severe consequences should one occur in a medical context. Equally important is the intricate ecosystem of healthcare itself. Clinicians are not merely service providers; they are key stakeholders deeply invested in their roles, particularly in the most critical and decision-intensive aspects of patient care. They will legitimately cite safety concerns when contemplating the ceding of such control, but it would be naïve to ignore the financial incentives and professional autonomy that also shape their approach. Therefore, the integration of AI in healthcare has, quite rightly, begun in auxiliary roles. We've already seen AI excel in tasks such as note-keeping, drafting letters and managing paperwork – administrative burdens that often detract from direct patient interaction. This evolution will steadily progress to passive monitoring, for instance, checking prescription drug dosages, identifying potential interactions and flagging contraindications. From there, AI will transition into more active advisory capacities, suggesting diagnoses, recommending follow-up investigations, and outlining possible treatment options. Crucially, however, the final, nuanced decision will remain firmly in the hands of a highly trained human expert. This measured arc of AI integration presents a profound "win-win-win" scenario. For physicians, it offers a pathway to significantly increased job satisfaction and reduced burnout. I am yet to meet a physician who genuinely enjoys the endless paperwork; many would willingly forgo a portion of their salary to alleviate this burden. By offloading these tasks to AI, doctors can reclaim precious time, focusing their energy on what truly matters: direct patient engagement and complex problem-solving. Patients too stand to benefit immensely. Imagine a consultation where your doctor makes genuine eye contact, actively listens and engages in a conversation, rather than constantly typing or staring at their screen. This enhanced human connection, facilitated by AI managing the background administrative load, promises a more empathetic and effective healthcare experience. For healthcare systems, the advantages are equally compelling. Reimbursement often hinges on the quality and accuracy of medical notes, an area where AI can deliver substantial improvements. By enhancing the precision and completeness of documentation, AI can streamline processes and bolster financial stability. Slowly but surely, however, the conversation will shift from augmentation to replacement. This transition is likely to occur first in less critical areas, such as routine follow-up visits or standard checks. More significantly, it may take hold in resource-constrained environments where the alternative to AI is not a highly skilled human professional, but rather, nothing at all. Some industry observers are worried that this could lead to a two-tiered healthcare system, where human physicians attend to the affluent, while the less privileged are left with an inferior, AI-driven substitute for the care they truly need. This, they argue, will exacerbate existing health inequalities. Personally, I believe they are right to worry about AI exacerbating existing health inequalities, but I think they might have the story backwards. As AI continues its relentless improvement, it is plausible that at some point, perhaps sooner than many anticipate – it will surpass human physicians across all dimensions, including the delicate art of bedside manner and empathy. When this happens, perhaps the opposite scenario will unfold: the affluent world will be treated by the superior Dr. AI, while the less privileged may find themselves priced out of access to these expensive, patent-protected AI systems, and instead have to contend with the comparatively inferior human alternative. It's a provocative thought, but one we must seriously consider as we navigate the extraordinary potential and profound ethical implications of AI in healthcare. Professor Nicos Savva is a Professor of Management Science at London Business School and an expert in data science, using it to solve operational problems and help large organisations develop data-science capabilities. His research at LBS focuses on healthcare management, including hospital operations, regional organization of care, assessing performance, measuring health inequity, and innovation. Professor Savva's work has appeared in leading journals such as Management Science, Manufacturing & Service Operations Management and Nature Biotechnology.
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US equity futures rise as investors await the latest reading on the US economy via the jobs report. The world's richest man signaled a cooling of his feud with the world's most powerful politician after Elon Musk and President Donald Trump hurled insults and accusations at each other on social media. Monica Defend of Amundi projects a cooling of the job market and a slowdown in the US economy. Veronica Clark of Citi says there's an upside risk to an increase in the unemployment rate. 'Bloomberg Brief' delivers the market news, data and analysis you need to set your agenda. (Source: Bloomberg)
CNET
2 hours ago
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Beyond the Hype: J.D. Power Customer Satisfaction Survey Confirms 5G Internet Might Be Here to Stay
Since its widespread launch in 2019, 5G home internet has become a staple in many urban homes and a viable solution for rural connectivity. While I generally tout a 'fiber-first' mindset when recommending cost-efficient, reliable high-speed internet options, 5G has often surpassed my expectations, and consumers seem to think so, too. J.D. Power data from 2024 and 2025 suggests that customers prefer fixed wireless internet, specifically 5G or 4G LTE, over both fiber and cable internet. The report finds that even while adoption has grown to nearly 12 million subscribers, a 47% increase since last year, customer satisfaction has remained stable in the past two years. J.D. Power Technology, Media & Telecom Intelligence Report June 2025 That's a significant achievement, even if subscribers are still in the 'honeymoon phase,' as Carl Lepper, senior director of the technology, media and telecommunications intelligence practice at J.D. Power, writes in the report. 'I think there's a bit of a halo effect,' Lepper told me. 'I do think there are a lot of people who were early adopters who loved it because it gave them an option they didn't have, and it gave them a price point they didn't have before.' That echoes the thoughts of a former CNET colleague, Rick Broida, who tested T-Mobile's 5G home internet service in 2021 and concluded, 'Imperfection is a lot more tolerable when you're paying less than half what you were before.' Locating local internet providers As more consumers sign up for 5G internet, the fact that the 5G home internet services continue to receive high marks is impressive. The American Customer Satisfaction Index also affirms customer satisfaction with 5G, with scores for non-fiber providers trending upwards. In contrast, fiber scores remained stagnant, and for the first time, T-Mobile 5G Home Internet tied with AT&T Fiber for first place overall. As an industry, broadband receives pretty low customer satisfaction scores overall, and it's not hard to see why. Everything from navigating confusing marketing lingo, dealing with sales-forward customer service and paying expensive monthly bills makes for a frustrating internet user experience. Plus, if you have an unreliable internet connection, it may not seem like you're getting the most out of your money. A recent CNET survey found that 63% of US adults are paying, on average, $195 more for their internet service than last year. J.D. Power Technology, Media & Telecom Intelligence Report April 2024 As an internet solution for rural communities without the luxury of fiber internet or the infrastructure of cable networks, 5G is an increasingly appealing alternative, especially over DSL, slower fixed wireless internet and satellite internet. Recent FCC data shows that the nation's biggest 5G provider, T-Mobile, covers 64% of households nationwide, and a significant portion of its coverage is rural. 'Is it a better product than fiber? Absolutely not,' Lepper said. 'No one would say it is, but it's hitting all the other buttons just right.' 5G may not always be consistent, but it's getting better J.D. Power uses several metrics to gauge customer satisfaction with broadband, the most notable being the level of trust an internet user has with an ISP. Fixed wireless internet is generally more unreliable than fiber internet since it's more susceptible to congestion and requires proximity to a tower and good weather conditions. However, it has substantially improved over the years. Former CNET writer Eli Blumenthal switched from Spectrum to Verizon 5G and hands-on tested T-Mobile 5G and AT&T Internet Air. 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That's quite an improvement from when T-Mobile 5G Home Internet first debuted in 2021. Broida was one of the earliest adopters of the service, and he saw max speeds of 132Mbps down and a low speed of 6.8Mbps, but those average speeds were still more than fine to get through the work day. In fact, you probably won't be able to tell the difference between 300Mbps of download speed and 1,000Mbps of download speed. What you can pick up on, however, is latency, lag and congestion. The true measure of a good internet connection is it's overall reliability, and if this latest batch of high customer approval ratings for the service suggests anything, it's that 5G has some staying power. What's next for 5G? The promise and convenience of 5G lie in the fact that mobile network operators can use the same technology powering our phones to get us online at home. But that technology has some limitations, like the amount of licensed spectrum, for example. 'There is a finite amount of spectrum,' Alex Roytblat, vice president of worldwide regulatory affairs at the Wi-Fi Alliance, told me in a previous interview. 'It's like real estate.' Major 5G internet providers Verizon, AT&T and T-Mobile 5G Home Internet use a mixture of frequency bands, such as millimeter-wave, low-band and midband 5G spectrums, to optimize customer experience. 'The higher in frequency you go, the more challenging it becomes to propagate the signal,' Roytblat said. 'The attenuation of the signal becomes greater as the frequency increases.' Concerns of spectral efficiency, or the limits to what information we can transmit in a communication channel, are also at play in the effectiveness of 5G. In fact, due to 'network capacity,' T-Mobile 5G Home Internet has a waitlist of around 1 million people. After covering the broadband industry for nearly two decades, Lepper is optimistic about how 5G technology will evolve in the hands of today's major mobile network operators. 'I'm always amazed how much control the industry has over the new technology, and what's next is already ready to go,' Lepper said. 'I think 5G has been extremely well-marketed.' Telecoms like Huawei and Bell Canada have successfully tested new technology to improve spectral efficiency. In February, Verizon 5G achieved record-breaking upload speeds of 480Mbps, mainly due to the newly opened 6-GHz band. 'The MNOs [mobile network operators] of the world have such a strong network that is impressive now,' said Lepper. 'When it taps out, will they have the next thing ready to go? Absolutely.'
