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HSBC CEO Says Bank Still Needs Human Judgment in AI Era

HSBC Chief Executive Officer Georges Elhedery says that while certain roles will be displaced by artificial intelligence, the productivity gains can be reinvested. "I would like to be able to accelerate and bring forward a lot of the ambitious deliverables we have for the future," Elhedery tells Bloomberg's Francine Lacqua. "That requires investment, and that is job creation."

Read more: HSBC CEO Says Bank Still Needs Human Judgment in AI Era
Bloomberg

Intesa Offers to Buy Monte Paschi in 30.6 Bid

Intesa Sanpaolo offered to buy Banca Monte dei Paschi di Siena for 30.6 billion ($35.3 billion). The Milan-based bank will offer 1.6 of its own shares and 1 in cash for each Monte Paschi share. The bid comes the day after Banco BPM pitched its own merger with Monte Paschi, considered to be the world's oldest bank. Bloomberg's Manuel Baigorri reports.

Read more: Intesa Offers to Buy Monte Paschi in 30.6 Bid