As the pandemic-induced market downturn continues, many major corporations have announced significant cuts to their workforce. While some companies have attributed these layoffs to a renewed focus on efficiency, others are redirecting their attention towards business sectors with more potential.
Among them, several companies including Meta, Google, and Dropbox have cited a new or renewed focus on artificial intelligence in their layoff memos to staff.
However, experts are wary of companies using AI as an excuse to cull their ranks. Mark Muro, a senior fellow at the Brookings Institute, believes that many firms got carried away with over-hiring in the first year of the pandemic, and the AI explosion may be a convenient explanation for ordinary mismanagement.
The pivot to AI could mean companies bulk-up teams working on AI products, or a greater need for machine learning engineers and natural language processing experts. But it could also mean some jobs are wiped out entirely, as AI tools have become proficient at several professional tasks that were once in the domain of humans.
Muro suggests that every worker needs to ask themselves what they are bringing to their work and what they do that is irreplaceable. As the application of large language models like ChatGPT or GPT-4 could have a material impact on day-to-day operations, Muro thinks a healthy dose of paranoia might be valuable for everyone.
Despite the uncertainty, some companies are embracing the AI revolution. The CEO of the avatar tools startup Genies recently purchased ChatGPT for all his employees to streamline the company’s workflow. While the focus on AI is likely to continue, it remains to be seen what the ultimate impact on the job market will be.
