I mean, kinda?

When Wall Street finally says “Okay, enough stalling, let’s see what we got with our trillion-dollar investment” and sees that the answer is “bupkis”, lots of innocent people will definitely lose their jobs.

Probably not 97M though. That’s more than half of the total jobs out there.

A bunch of companies have laid off employees either 1) because they are pivoting to AI and are shedding other costs (see: Microsoft) or 2) in anticipation that AI will let a smaller workforce get the same amount of work done (see: the gaming industry). AI hasn’t actually done a good job of replacing those workers, but it definitely has had an impact in certain industries.

I don’t think we’ve seen the whole thing unfold yet. Shit has not yet hit the proverbial fan, bubble or no bubble, we’re in for a ride.

Those who benefit from using it as an excuse to lay off people will continue to do so while it is convenient. Number must go up. Shareholders must be kept happy.

I just wonder if the water tastes like frog yet.

Hallucination vs reality

The Yale study

second one belongs in c/nottheonion

That study is very interesting and a recommended read.

AI, interest rates, tax regime, WFH and RTO, nothing has recently impact IT in any way that doesn’t apply to the general economy.