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Tech companies are slashing thousands of jobs as they pivot toward AI (www.cbsnews.com)

submitted 7 months ago by [email protected] to c/[email protected]

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Tech companies are slashing thousands of jobs as they pivot toward AI::Technology companies are axing jobs as they pile deeper into artificial intelligence, with one expert calling it a "sobering signal."

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[–] [email protected] 63 points 7 months ago (1 children)

This isn't a good article and makes bad connections.

The idea is that they are slashing jobs because ai will do everything, and that doesn't hold water. To start with, ai is a burgeoning technology without a solid foundation right now. These people are not being replaced at all, and to take advantage of ai, you need more teams to make more things to find the ai product that actually sticks.

The current layoffs are nothing to do with ai and everything to do with shareholders. High interest rates coupled with the post pandemic growth falloffs mean that shareholders aren't seeing value in tech shares like they used to. So, the executive teams are laying off workers to raise shares.

[–] [email protected] 25 points 7 months ago

Yes and it’s exactly the sort of thing that has happened before and will happen again. In fact it is so likely that you could probably create an CEO AI that starts firing or hiring depending on market conditions and give the bonuses to the workers instead.

[–] [email protected] 14 points 7 months ago

companies everywhere are slashing jobs to keep wages down. they are working with the fed to bring down "inflation" (which in their minds is increasing wages). The government, the companies in question, and the wonderful 'news' sources we have all work together to ensure we stay hungry. otherwise we might ask for shit.

[–] [email protected] 2 points 7 months ago

This is the best summary I could come up with:

SAP is the latest big tech player to cut jobs as it pours money into AI, with the German software giant announcing this week that it is investing more than $2 billion to integrate artificial intelligence into its business as part of what it called "transformation program."

And language learning platform Duolingo acknowledged a 10% reduction in its contractor workforce at the end of 2023, but denied that all of the cuts were related to increased AI usage.

Columbia University business professor Oded Netzer cautioned against linking rising corporate investment in AI to worker layoffs.

In Netzer's view, companies are simply doing what they typically do — hiring more workers that specialize in fast-growing parts of the business, while laying off those whose skills may be less useful or contribute less to revenue growth.

Cory Stahle, an economist at the Indeed Hiring Lab, told CBS MoneyWatch that AI tools are not yet sophisticated enough to replace workers entirely.

"They are rebalancing after the huge hiring burst we saw couple years back during the pandemic when people were at home, consuming more tech products than they normally would have," Stahle said.

The original article contains 950 words, the summary contains 188 words. Saved 80%. I'm a bot and I'm open source!

[+] [email protected] -14 points 7 months ago (5 children)

Look, folks. I know the hate for AI is on the rise, and I get it. But here's the thing: you live in a capitalist system. No shot. That you're "surprised_pikachu.png" about this is naive to say the least.

Now is the time to buy the hardware. Now is the time to make and develop your own models, run them locally. If you don't, if you use OpenAI API or anything, as per usual, you're getting played.

Now you're training their models, and you're actually paying for it. They should be paying YOU. But no. Like social media and the cloud before it, AI is set to centralise all data collection.

Then you have the self-defeatist pricks out there, who completely ignore AI because "iD iS bAd fOr sOcIeTy". You wanna know that else is bad for society? Monopoly, duopoly, centralisation of ownership and power.

AI has a fair deal of power already, but will become even more capable. When you've allowed venture capitalists and other exploiters to control that technology, you've just shot yourself in the foot and are hopping off to a 100 meter dash, thinking you're gonna somehow win out.

Fact is, you're just going to become subverted by AI and AGI, simply because you ignore it, not considering the real world power it will have in the future.

Stop being a cynical (no you're not a realiat), self-defeatist moron. No, you ain't tough for virtue signaling, you dumb prick. Get up off your high horse and help to decentralise AI technology.

If you don't, guess what that's gonna lead to? Oh yay, more centralisation of ownership, more centralisation of power! Such smort! Not at all dumber than a sack of doorknobs.

[–] [email protected] 8 points 7 months ago

Lol at all of this

[–] [email protected] 6 points 7 months ago* (last edited 7 months ago)

You're not wrong, but your aggressive wording will surely alienate anyone who otherwise would've had a chance of learning something new or changing their mind. People don't generally respond well to snark nor a condescending tone.

And this is a real issue, because companies and fascists are good at telling relatable stories to win people to their side. If we want to have any chance at fighting back, we must utilize the same tools they're using, instead of calling people stupid and thus driving them away.

[–] [email protected] 4 points 7 months ago

Honest question, do you think this post will change anyone's mind about anything? I see a lot of aggressive posts like this that will only further divide but hey at least you've inflated your own ego in the process right? Go get some fresh air, I think you might need the oxygen.

[–] [email protected] 3 points 7 months ago

you're not wrong, with one caveat: While i agree 100% with you that that AI is not bad, it is allowing very few to benefit from AI that will be bad, and that this is how capitalisim works, you then for some reason start punching down on your reader.

Get up off your high horse and help to decentralise AI technology.

Check it out, this is where you dropped the ball. If there is some way for me, a 99%er with no technical knowlege and no money, to "decentralise AI technology"? Please do enlighten me and other interested parties, because if you dont, your post is just a virtue signalling tirade pushing yourself as a "tough, take no prisoners realist" while providing us with nothing but bluster for the trouble of reading it.

Can you provide me with something more than hot air? I want to help if i can

[–] [email protected] 0 points 7 months ago

This is a moment in history like Ford releasing the Model T. The horseshoe industry took a massive hit, as did anything related to horse transportation. The winners saw it happening and pivoted themselves.

Right now, one person with AI that makes prompts replaces an art department. Gig work will dry up as many people learn to ask ChatGPT to write their excel macros, instead of hiring it out. Audio engineers can be replaced with one person doing QA in some finished products.