In 2024, the world’s biggest technology companies started laying off thousands of employees from their companies. Reasons for these tech layoffs in 2024 are reported to be business restructuring, cutting down costs of operations and slow economic growth. We have all seen that after the introduction of AI chatbots, layoffs have become common and the companies have been denying using the word “artificial intelligence” as the main reason. In reality, numerous news reports indicate that companies are undergoing management and operational changes, necessitating the tech layoffs of staff who no longer align with their new strategies.
Honestly, there is absolutely no way to know what the companies original intentions were behind the layoffs as most of the news reports are biased and spinned off of other reports. But still, it is not as bad as the Covid-19 pandemic. However, the new AI technology that is coming will definitely put some traditional businesses out of the game permanently. Very few reports have openly said that the companies have been hiding that artificial intelligence is the reason behind these layoffs.
It is absolutely important for all of us to understand that no technology is bad for humanity. It has a good side but like it is said “overuse is bad”. By the rate companies have been adopting AI for the operations and trying to use it in smartphones, it is not crazy to think that soon it will take over the BPO sector. Currently, Business Process Outsourcing (BPO) has nearly millions of employees across the world and many of the services rely on this sector. Now, if an artificial intelligence chatbot with better neural processing capacity will turn conversations flawless and will not need humans.
Also, let’s not forget the banking sector. Today, customers have to wait till the computer operator provides information about investment in a particular scheme of a bank or explains the benefits of opening a special account. The banking sector will likely be hit hard when it comes to artificial intelligence adoption. Banks, to save costs, will likely rely on AI and lead to massive layoffs in history. We are not saying that it will happen, but it is what we predict with how things are going with AI chatbots coming to cars and smartphones.
A few news reports informed me that many smartphone companies have not been clear with their statements. The reports mentioned that companies have been laying off employees because of adoption of AI automation and Generative AI. If it is so, the companies should not mislead the people from the truth for the sake of pleasing its investors and customers.
