Tag: Job cuts

OpenAI announced an update for their ChatGPT app with drag-and-drop support and Siri integration. CEO Sam Altman discussed AI regulation during his tour in India, where AI employment is expected to grow at a rate of 20-25 percent. Despite concerns of job cuts, AI is expected to contribute $957 billion to India's economy by 2035.

While the tech industry is investing heavily in generative AI, the cost of its massive computing power requirement and development is a major obstacle. Experts warn about the astronomical costs outweighing the benefits, serving as a warning for the industry to consider the long-term implications of AI's feasibility. Discover why AI may not be as promising and revolutionary as it seems.

BT, a major UK-based telecommunications provider, has announced a significant job cut which could reach 40%. CEO Philip Jansen hopes to minimize operational costs and drive the company towards digital transformation. Additionally, Vodafone has announced job losses in the next three years. Learn how both phones providers are striving to improve overall performance and simplify their business in a digital world.

This year has been a turbulent time for major corporations. To cope with the difficult economic conditions of 2022, tech giants Google, IBM, and Dropbox have made job cuts and realigned their strategies. Their focus has shifted to more promising sectors, such as artificial intelligence. AI expert and Brookings Institute Senior Fellow, Mark Muro, has voiced criticism of these decisions, alleging that job losses are a result of poor management. The affected companies insist these changes will enable them to expand, meaning a need for inventory of ML engineers and NLP experts to replace some of those positions on the chopping block. Advances such as ChatGPT & GPT-4 are already affecting smaller operations and jobs, leaving some roles obsolete. Muro encourages self-reflection to remain competitive. Companies such as Genies, who recently purchased ChatGPT, are also transitioning to AI, requiring difficult decisions on the part of businesses.

Meta, the tech giant behind the world's most popular social media & virtual reality services, is making some big changes. 10,000 employees are being laid off, with the impact being felt across Facebook, WhatsApp, Instagram and its VR division. Even gaming studios working on Meta's beloved VR titles weren't spared from Mark Zuckerberg's "Year of Efficiency" measures. Reassignment of those affected is a possibility, as Meta turns to focus on the commercialization of AI technology.