Kevin Winterfield’s Post

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.

Source: Fortune From the article: "All that new focus on AI does mean the few people with expertise in the field will be in high demand. Companies will be eager to hire these people, and many of the tech companies already have, but the trend is starting to proliferate in other sectors across corporate America." #TechSector #Layoffs #AI #AIExpertise #Employment

Tech Layoffs and AI Myths: The Need for Smarter Leadership in a Changing Landscape. Good thought-provoking article, highlighting a recurring pattern that emerges during every technology hype cycle. The layoffs are generally being done to reduce the cost and make investor happy that some measures are being taken by company to improve profitability. The same thing happened with generative AI, it is being considered as implementing automation which might impact the job. However, automation do have impact on certain segment of job but they are limited to automation. Leadership is often taking AI adoption reactionary decision based on market trend and investor pressure. Investor and board rush to adopt AI are often quick but often poorly planned financial decisions. Business has a believe that that they can replace experienced tech worker with lower experience low-cost hires. The recent tech layoff’s raises more questions than answers which every organization leadership need to introspect such as effectiveness of Layoffs for Growth, AI Misconceptions and how company must educate their stakeholders about realistic growth of AI and others. By addressing misconceptions, investing wisely, and fostering a collaborative and informed leadership approach, companies can better position themselves for sustainable growth and innovation. #CEO #LeadershipDevelopment #leadership #leaders #ai #aiadvancements #aiadoption #digitaltransformation #ceoguide #ceotips #ceotalk #ciocommunity #cioinsights #jobalerts #jobforyou #jobhiring #job #jobapportunity #jobavailable #leaders #leadership #ceo #leadershipadvice #hiring #layoff #jobboard #jobalert #jobchangers #layoffs2023 #lookingforajob #lookingfornewopportunities #lookingfortalent #lookingforemployment #lookingahead #lookingforwork https://lnkd.in/eEx4nwSF

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

“AI leads to layoffs.” Be careful with who is saying that. One of the major concerns about AI across industries is that it will cause layoffs. That people will lose their jobs because AI will be able to do their work for cheaper. This may have been the case with some layoffs. And it will likely be the case with some future layoffs. But we do need to be skeptical when we hear this. Large layoffs have always come in waves as big companies respond to market forces and to their own pursuit of profit. And this has always brought them some negative attention. So imagine the relief now that these big companies can scapegoat their layoffs on AI, instead of admitting that the layoffs were to increase their bottom line for the benefit of shareholders? And, doesn’t it look good to those exact same shareholders to hear that the company is so “cutting edge” that their tech can already replace workers? My point is that there are two big reasons why a large corporation would blame layoffs on AI. Even if AI had little or nothing to do with it. It takes the blame off of them AND it looks good to their shareholders. I am not saying that there haven’t been layoffs due to AI. Or that there won’t be. I am just saying that the narrative and the truth are rarely the same thing. And that the narrative can be manipulated to benefit big players. What do you think?

4 out of the 5 big tech companies have been slashing roles in some departments this year. The reasons behind these waves of layoffs have been cited as “restructuring”, often related to AI investment. Tech companies are pulling money from some areas in order to invest in the expected long-term success AI development will bring. What do these layoffs mean, if anything, for the future of the tech workforce? - - - #AI #artificialintelligence #googlelayoffs #bigtech

Getting replaced by AI is something everyone should be proud of. AI is the next generation of workers and we’re paving the way for them. We are no longer being replaced by younger humans and that’s exciting. It shows how far we’ve come as a species that we’re being replaced by AI. 100 years from now it will seem archaic to be replaced by younger humans. 100 years from now it will seem silly that human beings had actual jobs. Don’t resist change.. embrace it. Be proud to be replaced by AI.  **This is the email I just sent out to my team announcing our next round of layoffs.** #layoffs #ai #machinelearning #leadership #thoughtleadership

The AI Elephant in the Room: Are Tech Layoffs Masking the True Impact? 🐘💻 The recent wave of tech layoffs, spanning from 2022 to 2024, has been staggering. According to reports, tech companies fired 165,000 people in 2022, 260,000 in 2023, and the projection for 2024 is a whopping 270,000. 📊😔 While these layoffs have been attributed to factors such as over-hiring during the pandemic and the common business cycle, the persistence of layoffs despite record profits raises a red flag. 🚩💭 Marketing professor and author Scott Galloway suggests that AI may be playing a larger role in these layoffs than CEOs are willing to admit. 🤫💡 Rather than the dramatic scenario of an employee being suddenly replaced by AI overnight, the reality is more nuanced. As companies gradually optimize their operations with AI, they can achieve higher outcomes with fewer employees. 📈👥 The elephant in the room is that companies are not being transparent about AI's impact on their workforce decisions. 🐘🤐 CEOs have been touting AI as the greatest advancement in the industry, yet admitting to layoffs due to AI would expose a glaring contradiction. 😕🚫 In 2024, the truth is slowly emerging, with hints everywhere. 🕵️♂️🌍 It is crucial that we have an honest conversation about AI's role in the workforce and its potential consequences for employees. Only by addressing this issue head-on can we develop strategies to mitigate the negative impacts and ensure a more equitable future of work. 💼🔮 What are your thoughts on the potential role of AI in the staggering number of recent tech layoffs? How can companies be more transparent about AI's impact on their workforce? Share your insights in the comments below. 📝 See more here - https://lnkd.in/dZUHqh-8 #MachineLearning #DataScience #AI #AIWhisperers #artificialintelligence #AIExplained #AIdevelopment #AIstrategy #AIInteractions #AILiteracy #LLM #chatgpt #AIModels #DigitalTransformation #EffectiveAI #AIwashing #techlayoffs

Trends show the increase in layoffs within the tech industry does coincide with AI investments, contributing to the popular assumption that as AI grows, jobs will be lost. But when taking a closer look, I noticed that often companies aren’t decreasing their overall headcount; they’re cutting in some areas as they hire teams with new skills. Article in comments on what business leaders can do differently during tech layoffs in the age of AI. #RNN #RecruitingNewsNetwork #AI #Layoffs

𝗧𝗲𝗰𝗵 𝗟𝗮𝘆𝗼𝗳𝗳𝘀 𝘁𝗵𝗶𝘀 𝘆𝗲𝗮𝗿 𝗵𝗮𝘃𝗲 𝗯𝗲𝗲𝗻 𝗰𝗿𝗮𝘇𝘆! As companies aim to reduce operational costs, we've witnessed a surge in remote roles. It's tempting to attribute this to the emergence of AI, but let's explore a few perspectives. AI as an Enabler: Yes, this one; some argue that AI has indeed played a role in automating certain tasks, leading to layoffs. While it streamlines operations, it's crucial to ensure that AI augments, not replace, the workforce. Upskilling and reskilling are key. Tech Changing Fast: On the flip side, tech layoffs may be driven by evolving industry dynamics, such as shifts in market demand, company restructuring, or even economic challenges. In such cases, the blame might not rest solely on AI as companies need to make tough decisions.🤔 The Human Touch: This perspective emphasizes the irreplaceable human touch in tech. Soft skills, creativity, and innovation remain uniquely human strengths that technology can't entirely replicate. Tech companies may and will still prioritize human talent. The reality is complex and the real answer is a bit of everything, and not just AI at play. 𝙬𝙝𝙖𝙩 𝙖𝙧𝙚 𝙮𝙤𝙪𝙧 𝙩𝙝𝙤𝙪𝙜𝙝𝙩𝙨 𝙤𝙣 𝙩𝙝𝙚 𝙧𝙞𝙨𝙚 𝙤𝙛 𝙡𝙖𝙮𝙤𝙛𝙛𝙨 𝙩𝙝𝙞𝙨 𝙮𝙚𝙖𝙧?