A Grim Picture for Jobs: AI's Impact on Employment Continues to Unfold
New job numbers paint a bleak picture of the labor market, with over 150,000 layoffs in October - the worst October for layoffs in over two decades. About 50,000 of those layoffs can be attributed to AI, with overall job cuts reaching record levels since 2020.
Some researchers argue that the broader labor market isn't being disrupted by AI more than it was by the internet or PCs. Meanwhile, others claim that AI could eliminate half of entry-level white-collar jobs, sparking concerns about the impact on employment.
However, experts caution against jumping to conclusions and instead suggest that there's a mix of legitimate job losses due to AI adoption and companies pushing their businesses towards automation to cut costs.
The key issue is that many people are talking about incredibly rapid change, but few business owners have the resources to fully adopt AI systems. This raises questions about valuations - are we building out faster than the effects of AI will kick in?
Pew Research Center surveys show Americans are more concerned than excited about AI, with anxiety growing as the technology's potential impact on jobs becomes more apparent.
Historically, when new technologies came in and automated tasks, humans moved to do new tasks that didn't exist before. However, this time there's a lack of visibility about what those new tasks will be ahead of time, which is a challenge.
In terms of AI, it's worth noting that some experts think we're not in the same boat as previous technologies - if AI can perform everything humans can do and does so quickly, it would make adjustment much harder.
New job numbers paint a bleak picture of the labor market, with over 150,000 layoffs in October - the worst October for layoffs in over two decades. About 50,000 of those layoffs can be attributed to AI, with overall job cuts reaching record levels since 2020.
Some researchers argue that the broader labor market isn't being disrupted by AI more than it was by the internet or PCs. Meanwhile, others claim that AI could eliminate half of entry-level white-collar jobs, sparking concerns about the impact on employment.
However, experts caution against jumping to conclusions and instead suggest that there's a mix of legitimate job losses due to AI adoption and companies pushing their businesses towards automation to cut costs.
The key issue is that many people are talking about incredibly rapid change, but few business owners have the resources to fully adopt AI systems. This raises questions about valuations - are we building out faster than the effects of AI will kick in?
Pew Research Center surveys show Americans are more concerned than excited about AI, with anxiety growing as the technology's potential impact on jobs becomes more apparent.
Historically, when new technologies came in and automated tasks, humans moved to do new tasks that didn't exist before. However, this time there's a lack of visibility about what those new tasks will be ahead of time, which is a challenge.
In terms of AI, it's worth noting that some experts think we're not in the same boat as previous technologies - if AI can perform everything humans can do and does so quickly, it would make adjustment much harder.
... think about all those people who are about to lose their jobs cuz of these soulless machines 
... 150k layoffs in one month? That's insane! And it's not like we're even prepared for the new tasks that'll come up from AI, we just know they'll be there eventually 
. I mean, what if this AI thing is more than just automation, what if it's actually creating a whole new world of work opportunities... but at what cost? Our humanity, our creativity? The anxiety is real, fam 
. And don't even get me started on the valuations thing, are we just building out for the sake of it, or actually making progress 
. Can we really adapt to this new reality, or will we be left behind?
. Now we're facin' a whole new level of uncertainty with AI takin' over jobs. It's like, I remember when the internet first came out and people thought it'd put everyone outta work, but then they just started creatin' new jobs and stuff.
. Now AI is just another new thing that's got everyone worried about the future. Maybe we'll figure it out eventually and find some cool new jobs, but for now...
We gotta have a plan for people who are gonna be displaced by these new systems. And it's not just about white-collar jobs, either - I've seen friends in the gig economy struggle to make ends meet already... 
What if this tech actually does take away half of entry-level jobs? It's scary thinking about.
. it's like, if AI can do everything humans can do, then what's the point in training them to be 'skilled' employees anymore? 
.
... people are getting anxious about AI, and that's not a good sign for the future. We need some clear answers here 
... I mean, what if we lose half of our entry-level white-collar jobs? That's a pretty scary thought for a lot of people, especially younger workers just starting their careers 
. We know from history that new tech brings new jobs, but what if this time is different?
. I mean, we're already seeing 50k AI-related layoffs, that's crazy! 
But on the other hand, humans are super good at creating new stuff and adapting to changes. Remember when PCs came out? People were worried about job loss, but they ended up doing new things 
. Like, AI can do a lot of repetitive tasks, so maybe we should be teaching people how to work with AI instead of against it 
. People keep saying "AI is just like the internet", but I think that's a bit of an understatement 
. The thing is, we can't predict how much of a job cut is due to automation vs. companies just trying to save cash 
. We need to have an open conversation about this stuff and figure out what the future holds 
. Maybe we're not just talking about automation, but also a fundamental shift in how work gets done...