Imagine building an AI tool that takes over your job. According to Layoffs.fyi estimates, 828,622 tech workers have lost their jobs due to AI since 2022.
AI has gone beyond automating entry-level tasks to taking over jobs of the same people who built it. Information-sector output in the US has gained 8% annually, which is thrice the broader economy. Interestingly, total hours worked in the industry also declined. Overall, fewer people are likely generating more output, which is an encouraging signal for CFOs to continue reducing their employee headcounts.
