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Politics And The Markets 08/10/26

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

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Tech leaders say AI means less work – their staff say they work up to 90 hours a week

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A tech worker with pink hair sits at a desk and works on a laptop

For years now, executives at companies that are pouring hundreds of billions of dollars a year into developing various artificial intelligence tools have insisted that the technology will ultimately mean people will spend less of their time working.

An engineering director at Google said four years ago that AI would deliver a four-day work week by 2025, external.

Earlier this year, and just one year after that engineering director’s prediction, OpenAI took up the challenge, in a manner of speaking. It formally urged companies to start testing out a four-day work week (with no change in pay), claiming that AI will soon be able to speed up so much human labour that the corporate world should prepare itself.

However, a former OpenAI technical employee who left the company last year told the BBC the firm never actually trialled the four-day work week it suggested others should try while they were there.

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Instead, the person described what was often a gruelling work culture marked by frequent “crisis meetings”, working on weekends, and “super cut-throat” performance reviews that would see colleagues suddenly let go.

“You go in on Saturday or Sunday just to catch up or make sure things aren’t broken,” the person said.

Other companies have also pushed the idea that AI will effectively reduce the number of hours people need to work, for better or worse.

Anthropic has boasted that its popular coding tool and chatbot Claude is capable of working on its own for seven hours without a break, external, essentially a full corporate workday. Meta’s Mark Zuckerberg has said his company is in the middle of the year when “AI starts to dramatically change the way that we work” and that such tools let far fewer employees do more than they ever could have before.

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While Meta has since laid off 1 in 10 of its employees, Anthropic’s chief executive Dario Amodei has warned that as AI tools inevitably become more productive, it could mean, external even broader job losses.

Despite these claims, workers inside these same tech companies, who are not only developing but using the very AI tools that will purportedly perform at least some of people’s work, say they are clocking in far more than the typical five-day, 40-hour work week.

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Hypoport reports 5% profit growth in first half of 2026

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Hypoport reports 5% profit growth in first half of 2026

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Business

Clive Palmer’s bid to remove Perth judge from ASIC dispute fails

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Clive Palmer’s bid to remove Perth judge from ASIC dispute fails

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Major market reopens for Australian canola

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Major market reopens for Australian canola

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  • Look up detailed profiles of WA companies, including financials, directors and ownership
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  • Research live and completed projects across WA industries
  • Monitor deals, appointments and market activity
  • Access industry rankings and league tables

Data & Insights is updated daily by our dedicated research team, which uses the latest announcements, ASX filings and editorial coverage to keep our person, company, list and project records up to date.

Business News welcome all opportunities to make our dataset accurate, complete and current, so if you have an update request, please email the team at
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Only subscribers have full access to all content on the Business News website.

Advertisement

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Business News subscribers are:

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  • Investors and advisers researching companies, deals and industry trends
  • Consultants and professionals staying across sectors relevant to their clients
  • Business owners looking for leads, context and market intelligence

Most Business News publications cover national or global markets. Business News is focused entirely on Western Australia, which means the journalism, the data and the intelligence are all built around WA companies, people and projects — not adapted from a national feed. Data & Insights, included with every subscription, combines more than 30 years of WA-specific editorial research with live business data. There’s no comparable product for the WA market.

Advertisement

The Morning Digest Email provides a comprehensive wrap of the major headlines, relevant to WA business, and includes with a snapshot of the overnight news covering oil, gold and ASX-listed companies.

The Afternoon Wrap Email focuses on the news covered by our team of journalists during the course of the working day, including exclusive stories and analysis, all of which relates to WA business and the local economy.

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Thailand Economy June 2026: Stable Growth Amid Global Uncertainties

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Thailand Economy June 2026: Stable Growth Amid Global Uncertainties
Thailand Economy June 2026: Stable Growth Amid Global Uncertainties – Thailand Business News

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Why is oOh!Media stock rallying today?

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Why is oOh!Media stock rallying today?

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Berkshire Operating Earnings Rise 16% in Second Quarter. Buybacks Hit $4.5 Billion.

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Berkshire Operating Earnings Rise 16% in Second Quarter. Buybacks Hit $4.5 Billion.

Berkshire Hathaway’s operating earnings after taxes increased 16% in the second quarter to $13 billion on strength at the company’s railroad, energy and manufacturing, service, and retailing unit, the company’s financial results released on Saturday show.

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LivePerson earnings missed by $5.07, revenue topped estimates

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LivePerson earnings missed by $5.07, revenue topped estimates

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South Korean won leads Asian FX losses as dollar edges higher; yen weakens

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South Korean won leads Asian FX losses as dollar edges higher; yen weakens

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Morning Bid: Suddenly the Strait of Hormuz is ’irrelevant’ to the US

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Morning Bid: Suddenly the Strait of Hormuz is ’irrelevant’ to the US

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