Amazon CEO Andy Jassy's recent memo reflects a common theme among tech leaders regarding AI's transformative effects. While praising AI for its potential to enhance efficiency and profitability, Jassy acknowledges its dark downside: job reduction. He forecasts a corporate workforce decrease due to AI integration. The memo raises crucial questions about consumer purchasing power as automation proliferates. Notably, estimates suggest AI could jeopardize 300 million jobs globally within the next decade, underscoring the potential societal impact of widespread automation, which risks leaving many out of work.
CEOs of large companies love the bottom line and AI is going to do wonders for it.
Jassy admits AI will cost people jobs at Amazon, stating we will need fewer people for some jobs.
It's hard to know exactly where this nets out over time, but in the next few years, we expect this will reduce our total corporate workforce.
Estimates vary, but a 2023 report from Goldman Sachs said that AI could threaten 300 million jobs over a 10-year period.
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