Big tech companies like Google and Intuit are making personnel changes to focus on artificial intelligence (AI). Intuit CEO, Sasan Goodarzi, announced that approximately 1, 800 employees, or 10% of its workforce, will be laid off as part of a strategy to increase investments in AI. The company plans to hire new people with skills in engineering, product development, and customer-facing roles to support this strategy. The layoffs are not driven by cost-cutting, and departing employees will receive a compensation package. Intuit reported revenue of $6. 7 billion for the period ending April 30, reflecting a 12% increase. McKinsey indicates that AI adoption has risen to 72%, with interest in generative AI growing.

Intuit has been placing AI at the center of its business strategy, betting on its potential to attract more customers. Other companies such as ADM and Eli Lilly have also made changes in their CFO positions. Grant Thornton's Q2 CFO survey shows that CFOs continue to prioritize AI and technology, with 94% either using or exploring generative AI. The report emphasizes the need for CFOs to manage costs while capitalizing on growth opportunities. RGP's report highlights that financial decision-makers are increasing investment in workforce development and digital transformation initiatives. Thomson Reuters CEO, Steve Hasker, believes that the future of AI is in our hands.