Akshay Badola’s Post

Massive Layoffs Are Coming in 2024. 40% of SaaS companies interviewed say they are going to lay off employees and replace with AI according to Newsweek -Adopt new AI tools during the holiday that’s related to your career. Get certified in something that has AI in it. -Embrace AI or it will Embrace you. -If you do get let go, you need to know AI anyways, both for your next job or if you start an AI company. -If you do not get laid off, you need to use AI to be productive because your workload will triple without it. -Taking AI training courses, or teach one at your local community college -Tell your boss that you want to be one of the AI leaders and help them keep their job. https://lnkd.in/gX5uvp53

By the end of this year, I wonder how many people will be chalking up any layoffs to AI, and how true that assumption will be. "Experts struggle to get an accurate picture of just how many jobs are being eliminated as AI rapidly advances." #Bloomberg #YahooFinance #AIJournalism #AI #Layoffs #ResponsibleAI

Source: Business Insider From the article: "Dan Ives, a tech analyst at Wedbush Securities, told CNBC that redundancies would likely continue throughout the year, primarily as companies pivot their focus to spending on the AI sector. For example, bringing in new AI talent is expensive and increasingly competitive. "While we'll inevitably see AI more frequently used among tech companies, we should be wary of it being used as a scapegoat for layoffs when other, more familiar factors could also play their part." My take away from this is article is while AI many be be directly involved with the current trend in layoffs, it does seem employers are repositioning themselves to move towards AI, so they will still need engineers, and support staff to develop AI. This also opens the doors for enterprising tech folk to take advantage of the new and yet to be seen opportunities which AI will provide. #TechSector #Layoffs #AI

Well-known marketing professor and media impresario Scott Galloway has a theory as to what’s behind the layoffs: AI. The catch is many executives are hesitant to admit they’re laying off employees with the intent of replacing their jobs with artificial intelligence. "My thesis is that firms (notably tech companies) have also discovered a weight loss drug and are also being coy about it,” Galloway writes on his blog No Malice, No Mercy. "Recent financial news features two stories: layoffs and record profits. These are related.” My thoughts are that AI is and has already contribute to job attrition it's going to be another issue how companies are willing to convey that message.

Layoffs surged by 98% in 2023, affecting sectors like #tech, retail, and healthcare due to economic downturns and #AI impact. How can we #upskill and redeploy our #workforce for resilience amid AI advancements? Learn more on this Forbes article by Sherzod Odilov. https://hubs.ly/Q02jN4py0

Spoiler alert! It's AI. AI is the #1 reason many will be laid off. What should one do to avoid being laid off in 2024? "Because AI continues to be a reason for layoffs, take time to learn how to leverage AI in your position and which AI programs might impact your work the most. Learn about them and become the 'go-to' person. You want to be the employee your manager can't imagine going on without." Easier said than done? Not really. But it does take some "do". That's what I specialize in. I can help you pivot to a new career. Or in the case of new graduates, I can help you PREPARE for your next career. Send me a message and let's get started. 2024 is just around the corner. Don't assume, and don't get caught off guard. #MyNextChapterCareer #CareerChange #NewCareer #AIisHereToStay

Lots of layoffs in the news... Wanted to archive some of my thoughts here via a (very) long structured post. “The optimal size of the firm is shrinking” – Naval Ravikant, 2019 The industrial age had people organize themselves into hierarchical companies to compete and generate wealth.  The information age is reversing this phenomenon, accelerating companies toward being a business of one.  OK, maybe not just one, but still.  Like other global trends, this change is acceleratory as opposed to linear.   In my opinion, the three factors currently driving this acceleration are workforce fractionalization, productivity enhancements, and full-blown AI replacement.  Here is some short commentary on each, along with some recently funded Y Combinator startups to match. 1. Workforce fractionalization Sometimes it is more beneficial to move an internal function into an external transaction.  Enhancements in payment systems, gig economy platforms, and information technology push external costs and risks down, while increasing operational efficiency.  For 10+ years we have seen this growing with certain knowledge workers - UI/UX designers, developers, consultants, etc.  Over the last year senior leadership positions like CFO and CMO have become fractionalized at a greater frequency. DianaHR (YC W24) – Fractional HR & Ops – cost effective, risk averse, and operationally effective way to externalize your people ops function. 2.  Productivity enhancements There are now thousands of co-pilots and AI tools to help us work more accurately and at greater speed.  LLMs have massively improved developer and data analyst productivity, along with most white-collar job functions.  Given the rate at which new productivity enhancements hit the market, it is critical to shift yourself left on the technology adoption curve if you want to remain competitive.  Those who proactively seek early adoption will consistently have an edge over their peers.    DanswerAI (YC W24) – Private GPT customized to your orgs systems and knowledge base, connect to Confluence, Slack, GitHub, etc. - One use case: with instant access to all client history, comms, and precedents, retrievable via natural language, there is potential to shrink the optimal size of your client facing teams.   3.  AI replacement AI job replacement is no longer a Ray Kurzweil prediction or hypothetical, but happening in real time. Two examples are content writers and customer service jobs.  Sports Illustrated was found publishing AI generated content from fake authors, and chat bots continue to grow more frequent online than actual customer service reps.  As more sophisticated LLMs hit the market and as thousands of new AI startups receive funding, more sophisticated jobs will be able to be replaced. Artisan AI (YC W24) – Human-like digital workers, called Artisans – They’ve created a functional digital outbound sales rep, and are developing digital marketing and customer success workers.  

Is Galloway right? Has AI been one of the key enablers of the mass layoffs in the tech sector? I think it makes sense since these companies are closest to it right now. If correct, we will see layoffs spread to other sectors as they adopt AI in the coming months or years. What do you think? Is AI on a path to replace many of our jobs? Have you been impacted by it? #ai #layoffs

Tech company layoffs due to AI? Are tech companies lay off ppl because of overhiring in the past, due to sluggish current demand or because they became so more productive thanks to usage of GenAIn in software development? I have not seen any IT company citing high productivity gains and slashing prices on software products or services rates for their customers. Are they afraid that their business model is actually affected if someone would ask them for the revolutionary impact of GenAI in their operations? #generativeai #genai #productivity #prices #value

The article titled "Tech Layoffs Just Keep Coming" discusses the persistent wave of layoffs in the tech industry, with a particular focus on the impact of artificial intelligence (AI). Despite the industry's overall growth, layoffs remain prevalent due to factors such as company restructuring and cost-cutting measures, exacerbated by the integration of AI technologies. Recent announcements from major tech companies like Meta Platforms Inc. and Snap Inc. underscore this trend, highlighting the ongoing challenges faced by employees amidst rapid technological advancements. #AI #Chatgpt #technology #innovation #softwareengineering https://lnkd.in/gbAQwDjP