Arvind Krishna, the CEO of IBM, did not just announce a hiring halt earlier this month. He added that the business intended to use AI to replace about 8,000 positions.
Back-office operations, particularly those in the human resources (HR) industry, will see these shifts first, according to Krishna.
IBM’s Strategic Shift
This implies that employees in the financial, accounting, HR, and other sectors will probably face intense competition from machines and algorithms.
The choice draws attention to the growing reliance on automation and artificial intelligence in a variety of industries, as well as their potential effects on the workforce.
The corporation has previously made news for eliminating employees. A greater trend toward automation and cost-cutting methods in the IT business is indicated by IBM’s earlier this year announcement that it will be eliminating 3,900 jobs.
While Amazon.com Inc., Twitter Inc., and Microsoft Corp. have also lately reduced their workforces, in addition to IBM, it is evident that AI is quickly changing the staff.
Krishna, who is still optimistic about the potential of AI in the workplace, highlights how the technology may eliminate hundreds of hours of laborious operations in sectors like finance, accounting, and human resources. By 2030, it is predicted that AI will boost the world economy by a startling $16 trillion.
Read more: Will ChatGPT Replace Your Job? Here Are The Top 5 Roles At Risk
Transforming Workforce and Shaping the Global Economy
According to a recent analysis by Goldman Sachs economists, the most recent wave of AI technologies, such as ChatGPT, might affect up to 300 million full-time jobs globally.
This raises concerns about the possibility of widespread automation.
Computers may eventually replace 18% of all jobs worldwide, with the most developed nations being the hardest hit.
This information denotes a significant change in how businesses will operate in the digital era.
AI is gradually integrating itself into our daily lives. Startups like AvaWatz are developing AI-driven autonomous robot teams using cutting-edge technologies.
These are employed in a variety of functions, including running farms and cleaning up airports. While ChatGPT and other tools are rapidly boosting team productivity, this may slow the expansion of certain occupations.
Read more: AI Researcher Geoff Hinton Departs Google, Citing Concerns Over Technology’s Risks
