Rodd Ruiz’s Post

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

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

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

I’m curious: what exactly is “AI talent”? Are we really ready to replace humans with technology? Or is this just a message to signal that as a business leader, you’re on top of the latest trends? When you want to understand the tech layoffs, you have to look at the numbers. Here’s what they say: - the large tech companies overhired during the pandemic. In an earlier post I showed that some of them doubled their workforce. Leaders wanted to secure tech talent or thought growth would be exponential. - during the pandemic a lot of tech startups were funded while money was cheap. They too added lots of workers. Now that these companies need the next investment, they find investors are looking at fundamentals again. Losing your job through no fault of your own is painful, and I’m fully aware of that. But let’s not forget that average tenure at tech companies is about 2 years or less. Many people leave, even without a layoff. In other words, when people leave and are not replaced, does that even count as a layoff? And more importantly, is AI really that sophisticated so that “AI-talent” can easily replace these leavers? Or are business leaders, just as with layoffs, sending a trendy message that looks a bit different when we peel off the layers? Let me know if your new colleague is an AI-talent. I would really like to hear what’s it like to work with them 😉 #futureofwork #ai https://lnkd.in/ei6u95HW

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?

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

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

As companies start to adapt and adopt AI solutions, we will see more layoffs like this.

Here's a great article from The Hill regarding the spate of layoffs in the tech sector. While the article does list AI as one of the reasons for tech sector layoffs, according to the article AI is not the only reason. Read the entire article to gain further insight as to what is going on with tech sector lay offs, and to take away some hope from summary at the end of the article. #TechSector #Layoffs, #AI #InterestRates #Hope