Executives at U.S. companies are discussing cost-cutting during earnings calls more than ever, according to a Morgan Stanley analysis. The strategists’ study of transcripts showed an overlap between firms talking about operational efficiency and discussing artificial-intelligence investment. (Bloomberg)

Talking point: The focus on trimming expenses comes as firms wait to see whether the economy will enter a recession or achieve a soft landing. Meanwhile, experts say white-collar professionals face risks of job losses, as companies conduct layoffs both to spend more on developing AI and to less on labour. Data shows companies have cut more than 4,600 jobs since last May due to AI and the amount of professionals using generative AI in their daily work has soared. As my colleague Martin has reported, Canadian union leaders have raised concerns that AI could result in job losses and increased worker surveillance.