Norway Wealth Fund to Freeze Hiring as CEO Lauds AI Benefits (1)

Artificial intelligence will allow Norway’s sovereign wealth fund, the world’s largest, to stop hiring more humans for now in an early indication of the disruption the emerging technology may bring to the workforce.

“We do not foresee the number of employees increasing any further” in the near future, Chief Executive Officer Nicolai Tangen told lawmakers in Oslo on Tuesday. Instead, the $1.8 trillion fund, will now “focus on better efficiency through more use of technology,” he said.

Staff numbers at Norges Bank Investment Management hit a record high last year after steady growth since the pandemic. At the end of ...