The AI Daily Brief (Formerly The AI Breakdown): Artificial Intelligence News and Analysis How Bad Will AI Jobs Loss Be?
May 21, 2023
A recent discussion highlights the alarming potential for job losses as AI technology advances, spotlighting layoffs at key companies like IBM and BT. Concerns also surface around AI's impact on creative industries. The conversation extends to the future of work, emphasizing the need for retraining in various sectors. Financial insights suggest significant job transformations are imminent. Ultimately, the episode advocates for collaboration between industry and government to navigate the shifting job landscape.
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Job Cuts at BT and IBM
- BT will cut 55,000 jobs by 2030, with 10,000 being replaced by AI.
- IBM also announced it would replace 7,800 jobs with AI, mostly back-office roles.
World Economic Forum Job Loss Prediction
- These job cuts contribute to the World Economic Forum's prediction of 14 million net job losses globally in the next four years.
- This is due to 83 million jobs lost versus 69 million jobs gained.
AI's Impact on Creative Industries
- Musician Sting expressed concern about AI's impact on the music industry, emphasizing the human element of music creation.
- The Hollywood writer's strike highlights anxieties about AI-generated scripts and studios' lack of transparency.