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The tech sector is pouring billions of dollars into AI. But it keeps laying off humans

today 01/13/2024
The tech industry has experienced a wave of job cuts at the beginning of the year, coinciding with increased investments in artificial intelligence (AI). While AI replacing workers has been a concern, not all recent layoffs are directly related to AI. However, many companies that announced job cuts have also invested heavily in AI, leading to speculation about the impact of AI on the job market. Over 5,500 tech employees have already lost their jobs in the first two weeks of 2024. These layoffs come after a difficult period for the industry, with hundreds of thousands of workers losing their jobs due to the pandemic. The onset of the pandemic led to a surge in demand for digital services, resulting in a hiring spree in the tech industry. However, as pandemic restrictions eased and economic uncertainty grew, the industry experienced a significant downturn, resulting in mass layoffs. AI has been cited as a reason for many recent layoffs, with companies reshuffling resources to take advantage of the AI boom. Researchers predict that AI could impact hundreds of millions of jobs globally, with white-collar workers and women being particularly vulnerable. The disparate impact of tech job cuts has drawn attention from labor advocates and lawmakers. The recent layoffs at Google have been criticized as unnecessary and counterproductive. Some lawmakers are also concerned about the unequal effects of the layoffs on certain groups of workers.
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