Corporations one after another are claiming they're laying people off because AI has made them so much more efficient. But all the layoffs were predicted by those who saw the end of the last credit cycle coming. What an interesting coincidence.
AI hype may have kept the stock market bubble going a bit longer, but it could not avoid recession in the real economy. Interest rates increased significantly since post-scamdemic and these are the inevitable (and necessary) results.
Instead of telling the truth, they are making the downturn worse by cranking up the economic pessimism to 11 in an apparent bid to save face / increase shareholder value. Or is it part of the larger agenda to push government control via UBI?
Either way, despite AI being a useful tool, it will be like the internet. It ends up creating more jobs by opening up new possibilities and increases demand for better quality services (hedonic adaptation).
So it's a recession, and we've seen many before. It could even be a depression with how distorted the market became with decades of low interest rates.
i dont know, AI is moving people out, for sure. by a lot. i dont know how much is recession, planned obsolesces, or whatever, but i for one am laying off people because i integrated AI vertically in our workflows and just dont need the same level of professionals. us ceo types have lots of friends, and several of my peers are automating out call centers, sales people, tax accountants, HR processors. shit is real as fuck.
Imagine trusting something that hallucinates to follow tax laws for you. Oh boy.
I work for a small tech firm. They hired me on recently as well as hr and a product manager. All engineers use AI IDEs. Still hiring people.
Yeah that's been going on for a while even prior to chatGPT. I feel bad for your customers dealing with those shitty robots.
Really? I find this hard to believe.
i do, it works great. the AI is correct in charging the correct tax. we used manually created rules before, it was always off, and every quarter we had loss or gains that caused overages and underpayments for the tax board, with AI, it more accurately accounts for every tax situation on every invoice. it accesses the the current tax law and rates, and calculates tax better easier and just as good as tax plugins.
Customers get people when they ask, saves a lot of time and money and customers are happy, soon, in a couple years, AI will be almost indistinguishable from human sales and customer service. which is fine, this is unstoppable so get it or get run over.
one of my friends who owns a debt consolidation company, is using AI to call banks and credit cards and negotiate too. sales functions are not that difficult when you have a playbook and train the AI. its on chat or on voice. its not the devil, but it gets freakier the longer you reject it or ignore it, when you learn what it is, its just an LLM. its not thinking.
I agree it is just an LLM and not thinking. I've dealt with AI customer service like most people have by now. I despise it, and I absolutely love the companies that still go straight to a human or make it very easy to do so.
Nothing I like less than having to go back and forth with a chatbot before finally getting sent over to someone. The chatbot solves my problem about 1% of the time.
Regarding applying rules to transactions, sounds like that was mostly automated already. I use an accounting system with rules applied. So going from that system to AI involvement applying rules, is that worth firing 20% of workforce? I really don't think so.
Regarding AI sales calls. Keep tracking those numbers and watch as people get fed up and you get less conversions.