Tech Layoffs 2024: AI Remains Primary Driver Behind Job Cuts in Tech Sector, Still Companies Attribute Them To Cost-Saving and Restructuring, Says Report
The report said that the AI has impacted jobs of many people and it has been a prime driver for tech layoffs 2024. However, no companies directly admit instead use the words like "restructuring" and "cost-cutting" measures. It further said that AI will hit Indian IT sector jobs.
Mumbai, March 12: Artificial intelligence is considered both a good and a bad technology by tech experts. After the introduction of popular AI chatbots like ChatGPT, the tech sector has developed new thinking about the technology. Some reports say it can be great at reducing work stress while others say it will take humans' jobs and render them useless.
According to a report by India Today, Nvidia CEO Jensen Huang has sent ripples through the IT industry with his recent comments on programming and coding. According to the report, Huang believes that AI tools like ChatGPT, Copilot, and Gemini will be good at writing codes, which will make people's programming skills in Java, C++ and others languages redundant. The report highlighted that Jensen Huang did not specifically talk about job losses, but he definitely hinted at them. AI in India: 59% Indians Believe Artificial Intelligence Make Work Easier and Lead to Better Outcomes, Says Report.
The report said that India Today Tech also spoke with experts in the IT industry in India, and they also confirmed that AI would hit the workforce in IT firms significantly. The report also mentioned that the effect can be seen as thousands of people already lost their jobs within the first three months of 2024. It said that in February 2024, nearly 32,000 tech sector employees lost their jobs after the tech layoffs from Amazon, Meta, Google and other major tech companies. PM Narendra Modi To Interact With IIT Gandhinagar Students on March 13.
The report also highlighted that no tech company said that the tech layoffs witnessed were due to AI tools; instead, they used words like "restructuring". Nvidia CEO Jensen Huang reportedly said that the company's job is to create computing technology that nobody has to program, and such programming language is human. He added that everybody in the world "is now a programmer" and said that was the miracle of AI. The report emphasised that many companies attributed tech layoffs as restructuring and cost-saving measures; however, analysts said that artificial intelligence remained a primary driver behind the job cuts.
(The above story first appeared on LatestLY on Mar 12, 2024 06:26 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).