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57 | The wave of AI-driven layoffs has begun. Everything you need to know to prepare your career and your business - Jan 27, 2024
Jan 27, 2024
AI expert, Isar Meitis, discusses the alarming report by the IMF revealing that 60% of jobs in advanced economies will be impacted by AI. He highlights the increasing number of companies replacing staff with AI and the lack of training provided to workers. Meitis emphasizes the growing impact of AI on job layoffs, particularly in the tech sector, and advises employees to learn AI skills for job security. He also provides insights on how businesses can adapt to the changing job market by focusing on tasks, hiring individuals with AI skills, and avoiding layoffs.
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Quick takeaways
- AI is expected to impact 60% of jobs in advanced economies, leading to potential layoffs in various industries.
- Workers who use AI report positive outcomes, such as enhanced efficiency, creativity, and work quality, highlighting the importance of acquiring AI skills.
Deep dives
Impact of AI on the job market
AI is expected to have a significant impact on the job market. According to the IMF, 60% of jobs in advanced economies will be impacted by AI, with the impact decreasing in less developed economies. The OECD Employment Outlook survey revealed that 37% of business leaders have already replaced workers with AI, and 44% plan to do so in the near future. While AI is projected to add $15.7 trillion to the global economy by 2030, the same technology is expected to impact 40% of jobs, leading to layoffs in industries such as media, entertainment, banking, and marketing.
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