Norway Sovereign Wealth Fund CEO: Despite AI Cost Savings, Will Not Lay Off Employees

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2026-03-25 02:02:08

On March 24, Bloomberg reported that Norway’s sovereign wealth fund has saved “billions of kroner” through the use of artificial intelligence in trading and investment decisions, but these gains will not lead to layoffs, according to the fund’s CEO. CEO Nicolai Tangen said in an interview on Tuesday, “You should introduce AI into society to enhance productivity and value creation, rather than using it to cut staff.” He also described such layoffs as “destructive.”

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