The rise of AI is just one factor expected to fuel layoffs in the second half of 2024
Pittsburgh Business Times’ Post
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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
AI Is Driving More Layoffs Than Companies Want to Admit
finance.yahoo.com
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“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?
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CEO at Devico & DeviQA I Creating digital experiences that drive customer engagement and protect your brand while delighting your customers
A thought-provoking analysis of recent layoffs in the tech sector despite soaring stock prices. The shift from pandemic-era expansion to efficiency-driven restructuring reflects a broader trend towards preparing for the AI era. Layoffs are seen as a strategic move to break old habits and realign workforce roles with the potential of AI-driven productivity gains. People need to change because the work needs to change. #TechLayoffs #AI #Efficiency #AIRevolution
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"Dohmke says the latest usage data from Copilot shows that almost half of all the code produced by users is AI-generated." https://lnkd.in/gPW7Vg9t Does that mean that dev jobs can be reduced by half? A Business Standard article says that layoffs due to "AI" may be more widespread than acknowledged. https://lnkd.in/gE-e5CN2 I can hypothesize a company which is not growing so much to rationalize its workforce and augment that with more "AI" hiring. And those who have already hired aggressively to streamline and focus on increasing efficiency instead.
Artificial intelligence driving more layoffs than companies want to admit | News - Business Standard
business-standard.com
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Nearly 4 in 10 business leaders said layoffs are happening to replace workers with AI. "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." https://lnkd.in/gx2j-FTm Unfortunately, AI is starting to replace humans and it's a great time to expand our other skills. While AI is a great tool for companies, it's affecting more and more individuals. To prepare for the worst possible outcome, I went back to coaching weekends this week, and being around humans felt amazing. Maybe AI will one day be able to motivate you to get in shape but it will never empathize with a human... unless it needs an oil change and it develops feelings. 🤔 What I'm getting to is that as more companies decide to take the unethical route of "laying off" employees with little to no notice, it's time for people to find something they're good at outside their current jobs and explore that. We're more than worker bees and our passions can become an income source too. #FindYourWhy #AI
Massive layoffs are coming in 2024
newsweek.com
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There will be more layoffs in the upcoming year if you look at the stats. It's reasonable because If AI can get the work done faster, and cheaper what's the point of spending on manpower? The only exception should be sustainability. AI should be designed to be more sustainable.
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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
AI is like ‘corporate Ozempic’ for tech companies: It trims the fat and you keep the fact you’re using it a secret, says Scott Galloway
fortune.com
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CEO @ HOBOSX | AI Automation, Culture Integration & Strategic Business Transformation Expert | President, Board of Directors at VPMMA | Advocate for Veterans & Military Spouses | Driving Change, Inspiring Growth
As companies start to adapt and adopt AI solutions, we will see more layoffs like this.
As Amazon, Citigroup and Google open 2024 with layoffs, experts say unemployed workers should take these steps
cnbc.com
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Result-Driven Corporate Communication Graduate Student with Versatile Business Background. I am committed to contributing my adaptable skills and strategic mindset to enhance organizational success.
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.
All the tech layoffs are because AI is like ‘corporate Ozempic’—it trims the fat and you keep the fact you’re using it a secret, says marketing guru Scott Galloway
msn.com
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AI doesn't scare my clients. What worries them is: 1. Being left out of the market and it being too late. 2. Having postponed their life for a job. 2. Being just a number in the face of sudden layoffs. The good news is that they already have another plan. #exitplan #fractionalmanagement #careertransitions
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