Glancing at the news stories about AI, the headlines point to an inevitable collapse in the job market, especially for entry-level positions. A sample from the last week – “The AI Era is Bringing Recurring Layoffs”; “Tech Layoffs Are Becoming A Regular Feature of the AI Era”; and “'AI is now the leading reason companies give for cutting jobs,' says new report—what that means for workers”.
But what if the headlines were wrong?
LinkedIn News shared a post that contradicts those claims. A study by Ramp and Revelio Labs of 21,559 firms in the United States finds that companies that adopt AI tend to grow faster than firms that don’t adopt. The high-intensity adopters hiring growth was 10.2 percent higher over the first 24 months. And importantly, entry-level headcount grew by 12.0 percent.
The report backs up the conclusions with hard data. “Low adopters” only spent $2.78 per employee per month on AI, while “high adopters” averaged $33.67 per employee per month. The authors include the formulae used throughout the paper. While it may take a degree in statistics to understand the calculations, this “showing the work” adds to the authenticity of the report.
How do these firms buck the trends in the press? How are they able to find productivity gains without simultaneous job losses? Wisely, the firms that are successful aren’t sharing how they are accomplishing these feats.
Not surprisingly, the trend does not extend to jobs in operations. For people working in the print-mail industry, most technological advances have mean fewer, not more jobs. Roll-fed printers, digital print replacing offset, inline finishing, and faster inserters all increased productivity and reduced headcount. Efficiencies gained by AI tools will have the same impact.
Amazing Astronomical Fact: Four years ago this month, the James Webb telescope sent back its first images to Earth. Unlike the Hubble Space Telescope, Webb does not orbit around the Earth. Rather, it orbits the Sun 1.5 million kilometers (1 million miles) away from the Earth at what is called the second Lagrange Point or L2, directly behind Earth away from the Sun.
One of the first images taken by Webb were the “Cosmic Cliffs” in the Carina Nebula (NGC 3372). The nebula is one of the largest diffuse nebulae in Earth's sky. The “landscape” of mountains and valleys is actually a star-forming region. The Carina Nebula, which resides in the constellation Carina, is only visible from the Southern Hemisphere.
Image credits: NASA, ESA, CSA, and STScI
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