Block lays off nearly half its staff because of AI. Its CEO said most companies will do the same

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To be sure, AI adoption could come with some serious fiscal benefits for governments, including higher growth, stronger corporate and wealth tax receipts, and sharper tax administration. AI-powered digitalization could also plug compliance gaps, potentially adding up to 1.3% of GDP in revenue for countries with weak enforcement, according to Moody’s, citing IMF data.

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