| There has been convergence of many events: 1. The tax deduction change where costs couldn't be classified as an expense. 2. The saturation in people joining coding. At one point in time everyone wanted to be part of a bootcamp to earn that sweet coding salary. 3. Rising interest rates means the era of borrowing at low costs is over. etc. AI is last on my list for the reasons that people are being laid off. And its not because AI isn't helping people, rather it isn't helping people enough to justify the current layoffs. And lets be honest - AI and employment is the hot topic right now. You should expect executives to say that they are jumping on the AI bandwagon and looking at time savings. Once upon a time everyone wanted to add ML to their product. This is just going with the flow. Otherwise their stock prices will take a massive hit. Others yet want to showcase that they are doing everything to extract better margins. These statements can be slightly deceiving. What does 30% of the code mean exactly? How much of it is going into the products and making into the market? For now, AI is a convenient scapegoat. Maybe it becomes a force to reckon with and truly leads to people being laid off. Not today. |