Robert F. Smith, the CEO of investment firm Vista Equity Partners, said on Thursday that AI will overturn the job market and lead to layoffs for most finance professionals.

Speaking at the SuperReturn International private capital conference in Berlin, which attracted over 5,500 attendees , Smith predicted that by next year, 40% of finance professionals at the event would be using AI agents while the remaining 60% would be searching for new employment. AI agents are programs that run autonomously to perform complex, multi-step tasks.

"We think that next year, 40% of the people at this conference will have an AI agent and the remaining 60% will be looking for work," Smith said, per Bloomberg . SuperReturn claims to be the world's largest private equity event , with senior lead

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