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AI is already impacting the labor market, starting with young tech workers, Goldman economist says

⁨27⁩ ⁨likes⁩

Submitted ⁨⁨1⁩ ⁨day⁩ ago⁩ by ⁨return2ozma@lemmy.world⁩ to ⁨workreform@lemmy.world⁩

https://www.cnbc.com/2025/08/05/ai-labor-market-young-tech-workers-goldman-economist.html

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  • megopie@lemmy.blahaj.zone ⁨1⁩ ⁨day⁩ ago

    I mean, a lot of people have lost their jobs at these companies due to gen AI, but it’s not because it’s replaced them. It’s because these companies are burning cash like crazy on gen AI even as it looses them billions upon billions every quarter. They’re letting people go to cover some of that cost and then spinning a positive narrative to shareholders about increased efficiency and productivity.

    There is also a lot of still born projects and initiatives that are getting dropped because the executives now have an excuse to wash their hands of them without admitting to shareholders they made a bad call. Like Microsoft and their failed attempt to roll up the games industry.

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  • danielquinn@lemmy.ca ⁨1⁩ ⁨day⁩ ago

    To be fair, an LLM can generate a bunch of bug-ridden code lacking any context that I’ll have to fix in review as well as any junior dev.

    …of course unlike a junior dev, LLMs don’t learn from their mistakes. What they’re doing here is raising my salary and removing future seniors from the hiring pool.

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  • jlow@discuss.tchncs.de ⁨1⁩ ⁨day⁩ ago

    Now why would they said that … do they invest in this shit, I wonder …

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  • Bronzebeard@lemmy.zip ⁨1⁩ ⁨day⁩ ago

    Not by being useful, but by gullible CEOs morons buying the bullshit marketing and firing their workforce with a garbage fire to replace them.

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