A recent report by SignalFire shows that major tech companies like Meta, Microsoft, and Google significantly decreased their recruitment of recent graduates in 2024, attributing this trend partly to AI. New graduates represented only 7% of all new hires, a stark decline from over 50% compared to pre-pandemic levels. Startups also saw a similar trend, with hiring percentages plummeting to under 6%. Experts like Asher Bantock and Dario Amodei express concern that AI's capability to automate routine tasks may further threaten entry-level jobs in the coming years.
Asher Bantock, SignalFire's head of research, told TechCrunch that there's 'convincing evidence' that AI is a significant reason for the decline in entry-level tech roles. He explained that entry-level jobs are more vulnerable to automation because they consist of routine tasks that AI can easily take over. For example, AI can code and conduct financial research.
Dario Amodei, the 42-year-old CEO of $61.5 billion AI startup Anthropic, told Axios on Wednesday that within the next one to five years, AI could eliminate half of all entry-level white-collar jobs and cause unemployment to rise to 10% to 20%.
Earlier this year, Amodei suggested that AI could write 'essentially all of the code' for big companies within the next year. 'On the jobs side of this [AI], I do have a fair amount of concern,' he said.
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