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Generative AI megatrends: Are companies using the excuse of AI to get rid of jobs?

  • ajitjaokar 
Generative AI megatrends: Are companies using the excuse of AI to get rid of jobs?

In this blog, I will now focus on generative AI megatrends.

By that, I mean, trends and underlying trends that could be big in the future – focusing on the technology of LLM but also the wider impact of LLMs on the economy and society. I will hence identify and follow some key trends – some of which are being missed overall. 

This is a very rapidly moving goalpost and a lot of interest

I will start with three trends

a)  Open source AI llama 2 and its impact on the ecosystem

b)  Autonomous AI agents

c)  Reskilling for AI

Let’s look at  reskilling this week

Like the proverbial ostrich in the sand, I find that many people simply do not realise whats going to hit them soon

Ironically, of all the jobs, AI is coming for, its coming for the developers and data scientist first – biting the hand that feeds! 

But policy makers, developers and data scientists do not fully appreciate the risk (and also, in my view, the opportunity)

But in this, is a disturbing trend

Are companies using the pretext of AI to reduce their headcount? 

Recently, an Indian startup claimed to have laid off 90 percent of their staff due to a chatbot. Also, at the same time, the Indian minister of state claimed that any concerns about AI threatening jobs as “nonsense”.

Both the layoffs and the complacency about AI are misleading 

Anyone who knows LLM based chatbots knows that they are far from ready so as to replace 90 percent of the workforce – especially in a B2C scenario. But change is indeed coming. A far more serious trend not so publicised is that TCS quarter-on-quarter hiring dropped by 90% in first three months of FY 24

So, taking a balanced view, I think companies will undertake reskilling programs – and if not, employees most certainly should. While we should ignore the marketing stunts of companies like the Indian start-up – the underlying megatrend is very real. Like I said in my previous post, the hour is later than you think

Image source: https://www.sciencefocus.com/nature/do-ostriches-really-bury-their-head-in-the-sand/