The IT and technology sector has experienced a talent shortage for a long time. However, recent news indicates that companies like Twitter, Microsoft, Google, Amazon, and others are downsizing their staff, despite citing over-hiring during the COVID-19 pandemic and underperforming employees. This has resulted in massive layoffs across the global sector to boost earnings per employee ratio.
In addition to the tech sector, the banking industry has also experienced a decline due to the fall of five major banks, which has triggered the expectation of 500 more to follow. Exit interviews have revealed that some employees have had nothing to do for almost a year or two, raising questions about productivity.
The reason for this decline is due to the rise of generative AI and robotics, which can produce 10 to 100 times more productivity than humans. It is becoming increasingly difficult for enterprises to ignore the potential of replacing humans with AI and robotics, as it ultimately comes down to financial figures and profitability that impress investors.
The world is now entering an accelerated era of AI and robotics, and for the old batch of employees and labor who resist change, they are destined for extinction. The reality is that we will enter a new age of even more digital content produced by AI that is more productive than human labor. At this stage, we still need human editors, but for the long run, we expect more advanced human works to be replaced.
This is a wakeup call for both blue-collar and white-collar workers. If you are underperforming, you are better off benchmarking yourself and improving your skills to be employed instead of being replaced by software robots. As the artwork becomes more human-like, it becomes harder to differentiate between AI-generated and human-made art. Mankind will reach the stage where we accept AI and robotics works, including creative works. For those affected, it is time to acquire new skills to provide better end-to-end output, such as photographers learning about video and design to increase their overall output.
The rapid advancement of AI and robotics means that individuals and companies need to adapt quickly to remain competitive. The trend towards automation and digitization is not going away, and those who fail to adapt risk being left behind. The key is to embrace change and invest in the necessary skills and technology to stay ahead of the curve. This means that both employees and companies must continually innovate and adapt to stay relevant in an ever-changing technological landscape.
In conclusion, the world is experiencing an accelerated era of AI and robotics that is revolutionizing the way we work and live. While this trend brings many benefits, it also presents significant challenges, particularly for workers who risk being left behind. The key to success in this new era is to embrace change, invest in new skills and technologies, and remain agile and adaptable to keep pace with the rapidly changing technological landscape.
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