Posted on 05/06/2023 7:34:53 AM PDT by CFW
IBM CEO Arvind Krishna announced a hiring pause, but that’s not all. He also stated the company plans to replace nearly 8,000 jobs with AI.
Krishna noted that back-office functions, specifically in the human resources (HR) sector, will be the first to face these changes.
The transition will happen gradually over the next few years, with machines potentially taking over up to 30% of noncustomer-facing roles in the five years. This means that workers in finance, accounting, HR and other areas will likely find themselves facing stiff competition from robots and algorithms.
The decision highlights the increasing reliance on automation and artificial intelligence across various sectors and the potential impact on the workforce.
(Excerpt) Read more at finance.yahoo.com ...
“They all say they need to make at least $120,000 per year with lots of time off to go hiking to be “comfortable.” ROTFL”
ROTFL indeed. I guess that $120,000 per year is the new $60,000 which was solidly middle class just a few years ago.
I never considered whether I would have time off to go hiking when considering whether or not to take a job. I actually thought little as to sick and leave time when first entering the job market, although it was somewhere on my list of things to consider. I was lucky in that in the job I retired from, I had two weeks vacation per year, one sick day per month (that I seldom used) and credited one leave day every six weeks or so (that I also seldom used).
For entry level jobs, employees should concentrate on arriving at work on time and doing the best job possible with a cheerful attitude. Pay wages increases and promotions will usually naturally follow. However, if they don’t you will have gained experience and a reputation of being responsible and can soon look to change jobs to one which recognizes your contributions and abilities.
The above used to be common sense and imparted to children by the parents and teachers. Now, kids are taught that they are owed all they want just because they exist.
The irony here. IBM really starting the tech industry, and then the tech industry kicking humanoids to the curb.
Same. I use it to write all sorts of agreements from contractor’s agreements to simple purchase agreements. It has dramatically reduced my legal spend so far in ‘23.
kvmyc49u
You rearranged them to spell D.E.I.
“The human resources (HR) sector will be replaced by non-humans. Sounds ominous.”
Imagine the following:
1. Show up for an interview. The guard tells you to go to Room 3. In it is a keyboard and computer screen...and then the interview starts.
2. 10 seconds later, you’re given an offer (or rejection).
3. Assuming you take the offer, you go back to Room 3 to answer intake questions from that screen.
4. Then report to your team, and other than the guard, you finally see and meet people.
Bloated HR and DIE departments.
Arvind Krishna
I’d bet that none of their thousands of imported employees will not be affected...
Thanks for the response. I agree 100%. These Millies and Zeros are in for a rude awakening.
Agree on recursive AI, disagree on robustness of AI-derived 'professional' product -- my experience so far has been, you have to be an expert to spot the AI mistakes/hallucinations, which eliminates the productivity gains.
BIG MISTAKE.
AI . . . the ultimate form of tyranny.
> Knowing how to code and logical reasoning are as different as education and intelligence...
well, I’d say it might be more accurate to frame it around the distinction of reading code vs logical reasoning. But logical reasoning is a learned skill, whereas intelligence is innate. There’s no doubt what we’re getting from AI these days manifests a useful form of reasoning which can be applied to real problems...
In most places I've worked, HR is where the most useless and leftist people in the entire company congregate. No one will miss them.
Replacing soulless machines that eat with soulless machines that don’t eat. Sounds feasible.
I am way past trading in individual stock. At my age in 80’s the last thing I want is more profits along with risks. I am now strictly into trading SP500 index funds coz those will be the last to go belly up.
I used to buy ETFs (QQQ) and did very well over a long period of time. All I do now is pick the best stocks from QQQ and ditch the poor performers. There are consumer staple companies, utilities, and industrials in QQQ that I'd just as soon not own because their future just isn't very bright.
AI is a buzzword to lay off people to what the managers think will save a company money.
The last company I worked for had the HR dept change back in 2018. All quit all of a sudden and were replaced by it turns out temps and they were scheduled to be replaced by a 3rd party company during the illegal locked down.
Several other depts had big layoffs of long time employees.
I bet these managers figure they save 10% and get a big bonus then some years later everything goes back the way it was before as having your company working with 3rd party companies to get company functions done is too cumbersome and costs money in the long run.
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