Barry Sternlicht, chairman and CEO of Starwood Capital Group, has stated that his company will implement a workforce reduction in favor of artificial intelligence (AI) technologies. In a recent press conference, Mr. Sternlicht expressed concerns regarding the potential impact of AI on the real estate industry. He indicated that the company will prioritize utilizing AI for streamlining operations and enhancing efficiency. The statement reflects a strategic shift, with Sternlicht acknowledging the need to adapt to evolving technological trends. The specific number of employees affected remains undisclosed.
Credits: US Top News and Analysis
