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Aug. 7, 2024, 8:04 p.m.
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Impact of AI on Job Market: Layoffs and Emerging Opportunities

Brief news summary

Big tech companies like Salesforce and Google have been laying off employees due to the rise of artificial intelligence (AI). However, this presents a chance for AI-focused startups and companies to attract and hire these individuals. The World Economic Forum predicts that AI will replace millions of jobs in the future, but experts believe that it also creates new job opportunities. Jonathan Chu, Director of Engineering at Rapid Robotics, states that AI will generate new jobs to support its growth and has introduced previously unimaginable roles. Having AI skills gives workers an advantage in negotiations, with opportunities for higher salaries and job prospects. However, finding employment is becoming increasingly challenging for those without AI skills, even within the tech sector.

Major technology companies such as Salesforce and Google have recently implemented layoffs as a result of artificial intelligence (AI). However, this has opened doors for AI-focused startups and companies to attract those affected by the layoffs. According to the World Economic Forum, AI is expected to replace a significant number of jobs in the coming years. Yet, individuals like Jonathan Chu, the director of engineering at rapid robotics, believe that AI presents significant opportunities for job growth. "The AI industry will generate new employment opportunities, " Chu emphasized. "There will be jobs created to drive and support the AI industry.

Thanks to AI technology, jobs that were previously unimaginable now exist. " Workers possessing AI skills also enjoy an advantage when it comes to negotiations, as noted by Russell Hancock, the CEO of Joint Ventures. "If you possess these skills, you have the upper hand in this city. You can set your desired price, and the opportunities are endless, " Hancock highlighted. "On the contrasting side, it has become increasingly challenging to secure employment, particularly in the tech sector, if you lack AI proficiency. "


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