Discussion
Barclays is cutting 5,000 jobs after reporting £2.3B in quarterly profit. American Express is cutting 3,500 despite strong earnings. Both cite AI.
AI lets companies do more with fewer people.
The big question is whether AI will also create enough new companies and jobs to offset the layoffs as businesses need fewer people?
@carnage4life Whenever I see hard news about AI causing job losses, I shake my head. Our culture only values people who work, yet tech bros strive to eliminate jobs right and left. Aren't these people actually striving to eliminate us as people?
@carnage4life
I fully expect these banks to change their minds about AI
@carnage4life The big answer: No.
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@carnage4life AMEX is preemptively cutting jobs? That is a... Strategy.
But no, AI will not generate enough alternative work to make up for the losses it generates.
Late stage capitalism and AI are the super couple to make life for humans unbearable.