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Simon Marks and LBC callers react to the news that Barclays will cut 5,000 jobs by the end of the year in a major AI-driven cull. 00:00 | Simon asks whether we should let tech billionaires keep getting wealthier while people are losing their jobs 03:58 | Piers Linney says AI isn’t necessarily a good or bad thing, but that it is inevitable 14:10 | Caller Max says that Simon is ‘scaremongering’ 20:02 | Caller Tommy thinks people need employment to ‘give them a reason to get out of bed’ 25:11 | Caller Sam isn’t convinced the British government is powerful enough to do anything about AI 30:38 | Simon doesn’t think being sceptical about AI makes him a ‘luddite’ The job cuts at Barclays is the equivalent of 5% of all of its employees. It comes as the banking group reported a pre-tax profit of £2.3 billion for the three months to the end of September, which was 12% higher than the same period a year ago. Group chief executive CS Venkatakrishnan, known within the bank as Venkat, said this was “a result of the investments which we’ve made into technology over a number of years and which we continue to make”. Venkat said the tech investment involved “modernising our platforms and harmonising our systems and having simpler and better processes”. He added, “AI has an important role to play and may have a more important role to play in the future.” Listen to the full show on the all-new LBC App: https://app.af.lbc.co.uk/btnc/thenewlbcapp #simonmarks #artificialintelligence #technology #employment #uknews #ukpolitics #LBC LBC is the home of live debate around news and current affairs in the UK. Join in the conversation and listen at https://www.lbc.co.uk/ Sign up to LBC’s weekly newsletter here: https://l-bc.co/signup

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