This post was originally published on this site.
Within the last week, critics have blamed artificial intelligence for $1 trillion in stock market losses and nearly 3,000 job losses. Supporters say it’s the wave of the future and has already created significant wealth and thousands of new jobs.
The latest tech company to announce layoffs was Pleasanton-based Workday, which said it will cut 1,700 jobs and look to soon hire AI-related talent.
A day earlier, Salesforce of San Francisco said it will eliminate 1,000 jobs but add 2,000 new AI-related jobs.
Joint Venture Silicon Valley CEO Russell Hancock said AI is both a creator and job killer.
“There will definitely be jobs that are eliminated because a bot can do that more effectively, but it’s also going to create opportunities,” he said.
For example, Google said it will invest $75 billion in AI this year.
At San Francisco startup DevAI, CEO and co-founder Susie Wee said they’re hiring people with AI skills, too.
“I would say it’s a job creator,” Wee said. “At the very least, it is allowing people to do their jobs in new ways. It has the promise to allow that.”
What is clear is AI is here to stay, as is the demand for those with AI-related skills.
“You don’t just wave your hand at AI,” Hancock said. “You have to create it, you have to construct it, you have to build it. It has to be inserted and implemented and then iterated.”