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A finance veteran says junior bankers aren’t doomed — they’re actually supercharged by AI

Sopnendu Mohanty, the cofounder and group CEO of the Global Finance & Technology Network, is wearing a suit and smiling.
Sopnendu Mohanty, who spent nearly two decades at Citi, told Business Insider that using AI will benefit both banks and their junior hires.

  • Sopnendu Mohanty is the cofounder and group CEO of GFTN, a global advisory and investment firm.
  • He was chief fintech officer at Singapore’s central bank and worked at Citi for nearly 20 years.
  • Mohanty said that the rise of AI would help, rather than hurt, the careers of junior bankers.

Junior bankers should not worry that their jobs are on the line because of AI, says Sopnendu Mohanty, the CEO of Global Finance & Technology Network, an advisory and investment firm.

Mohanty, 53, spent nearly two decades working at Citi, where he helped lead the bank’s global consumer lab network and programs. In 2015, he became the Singapore central bank’s first chief fintech officer.

He said AI, like the internet and smartphone, will help make bankers more productive. With AI, a single banker would be able to engage more clients, Mohanty told Business Insider.

“When I joined banking in 1997, my ability to reach out to customers was limited. Smartphones and call centers — all those came later,” he added.

Using AI will be a win-win situation for the banks and their junior hires, Mohanty said.

“Your productivity goes up, you are engaging more customers, you will enjoy better customer loyalty in the process,” he added.

Mohanty isn’t the only finance executive who said AI will help, rather than hurt, the careers of junior bankers.

Kerry Blum, a partner at Goldman Sachs, said in an interview with the Financial Times published earlier this month that AI will “really improve the quality of the work that our junior people are doing.”

“They’re going to get to do high-impact work while they’re learning from the AI assistant or while the AI assistant is doing other things to help them,” Blum, the global head of the equity-structuring group within private wealth management at Goldman Sachs, said.

“I know if I was an intern or an analyst, I would be a top user of the assistant tool right now,” she added.

The rise of AI has fueled concerns that it could disrupt the job market by eliminating jobs. In May, Anthropic CEO Dario Amodei said in an interview with Axios that AI could wipe out 50% of entry-level office jobs in the next five years.

Jeremy Barnum, the chief financial officer of JPMorgan Chase, told investors at the company’s annual presentation in May that AI would make the bank more efficient.

Barnum said his colleagues shared that they found AI to be useful, and it has helped them “quite a bit too with their efficiency.”

“It’s not just the amateurs who are helped by these tools. It’s amazing stuff, and we have high hopes for the efficiency gain,” he added.

Read the original article on Business Insider
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This Chinese EV has gullwing doors and a light show. I drove it to see if it’s a Tesla rival.

Guangzhou Automobile Group's Hyptec HT photographed with Marina Bay Sands in the background.
The Hyptec HT is a Chinese EV rival to Tesla’s Model Y.

  • The Hyptec HT, a midsize SUV, is targeting Tesla Model Y and BYD Sealion 7 customers.
  • The car’s gullwing rear doors are a bold design choice.
  • Our reviewer said it felt spacious, smooth, and luxe. But like many new Chinese EVs, it’s not sold in the US.

The Hyptec HT is hard to miss, especially the one I tested in a bright shade of orange.

Over three days behind the wheel in Singapore, the car drew plenty of attention. People stopped to ask what it was, and a few even asked to snap a photo.

Like many new Chinese EVs, the Hyptec HT isn’t available in the US. It’s made by Guangzhou Automobile Group, or GAC, one of China’s largest carmakers.

Hyptec, short for “hyper” and “technology,” is part of GAC’s Aion brand and represents its bid to tap the booming premium EV market. With the HT, that push is aimed squarely at Tesla’s Model Y and BYD’s Sealion 7.

The company makes no secret of who it’s going up against.

“We are targeting Sealion 7 and Model Y customers, and not creating a new market niche,” Bender Guo, GAC’s country manager for Singapore and Vietnam, told Business Insider.

On the outside
Hyptec HT, a midsize SUV in a bright orange color.
Hyptec HT, a midsize SUV

The HT’s silhouette struck me as very similar to Tesla’s Model Y. Interestingly, it was designed at GAC’s Advanced Design Studio in Los Angeles, just 15 miles from Tesla’s design hub in Hawthorne — though there’s no evidence the proximity influenced the design.

The HT wears sharp character lines, a coupe-like roofline, and flush door handles, giving it a futuristic look that blends sporty and premium.

The magical doors
The Hyptec HT's gullwing rear doors open.
The Hyptec HT’s gullwing rear doors are a bold design choice.

One of the Hyptec HT’s boldest design choices is its gullwing rear doors, a touch of “Back to the Future” made modern. Hyptec says they need a little over a foot of clearance, with 12 radar sensors to stop them clipping walls or ceilings.

They felt seamless in use: Press a button, and the doors glide up, making entry and exit easier than expected.

Still, the doors aren’t perfect. Testing the car with two young kids in tow, they didn’t feel entirely safe. At one point, a closing door required us to move a child’s head out of the way — the sensors didn’t seem ready to intervene. That said, there is the option for a standard door. The car is also available in less attention-grabbing colors.

For drivers interested in turning more heads, the HT features a choreographed audio-visual “light show” for onlookers — a party trick Tesla fans will recognize.

On the inside
Interior of Hyptec HT with orange Napa leather.
Hyptec HT’s interior looked luxurious in the orange Napa leather.

When I stepped in, the HT felt spacious and comfortable. The cabin leaned into luxury with orange Napa leather and an impressive finish front and back. Large windows and a skylight built into the gullwing doors filled the space with light. With its 2,935 mm wheelbase — the longest in its class — the back seat felt roomy enough for three adults, though taller passengers may want to avoid the middle seat, where the ceiling dips a bit lower.

Rear passengers also get a few indulgences I tested myself: seatbacks that recline to 143 degrees, a fold-out footrest on the left, and a tray table on the right that wouldn’t look out of place in a Rolls-Royce.

The Hyptec HT's ventilated seats and 10-point massage system are controlled on a 14.6-inch screen.
The Hyptec HT’s ventilated seats and 10-point massage system are controlled on a 14.6-inch screen.

Up front, I tried the ventilated seats and the 10-point massage system, which offers five modes. I could even choose which part of my back deserved a little extra love.

As expected these days, everything is controlled through a central screen. The car has a 14.6-inch display that handles climate, driving modes, and safety systems. It looks sleek, but adjusting basics like air conditioning required digging into menus. I also found disabling the safety assistance both difficult and annoying.

Behind the wheel
The cockpit in a Hyptec HT Chinese EV.
The cockpit reminded the author of the Aston Martin DBX.

The cockpit itself was a pleasant place. The steering wheel reminded me of an Aston Martin DBX, and visibility was good all around. Seat comfort was excellent too, making it a car I felt I could drive for hours without fatigue. There was also plenty of storage space.

That said, a couple of details could use fine-tuning. The central air vent never seemed to hit the right angle, and the wireless phone charger was inconsistent, often cutting off mid-charge. I ended up plugging in a cable instead.

Driving experience
The author is behind the wheel in the Hyptec HT.
The author test drove the Hyptec HT around Singapore for three days.

Out on the highway, the HT was impressively smooth and quiet. Even at three-figure speeds, wind and road noise are barely noticeable, leaving the cabin cocoon-like. GAC claims a WLTP range of 323 miles, which should be more than enough to get from Los Angeles to Las Vegas on a single charge.

It’s a large car, so testing it like a performance sedan didn’t make sense. Even so, it was very quick, especially in sport mode, as most EVs are. When a bend tightened more than expected, the HT stayed composed, with the steering delivering a reassuringly precise response.

The verdict
The Hyptec HT, Chinese EV, photographed from behind.
The Hyptec HT performed well on tight bends.

In China, the top-spec Hyptec HT is priced at 285,900 yuan, or $40,100, slightly above the Tesla Model Y’s 263,500 yuan price tag. That puts it squarely in premium-EV territory, but it has the features to back it up — especially those gullwing doors and limousine-like rear seats.

The car was first released in China in 2023 and later launched in Hong Kong, Singapore, and Thailand. GAC is set to expand into Europe next.

With a Brazilian factory slated to open in 2026, the company is signaling its intent to be a frontrunner in the global EV race.

Read the original article on Business Insider
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Matt Shaw ‘not concerned’ about any backlash over skipping Cubs game for Charlie Kirk memorial

Matt Shaw isn’t worried if he faces any backlash after he left the Cubs on Sunday to attend Charlie Kirk’s memorial.