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>> Maybe displacing billions of workers will end up being pretty hard and it will take some time.. It's an interesting question. Do you know the concept of "Di
by pyeri 3y ago
>> Maybe displacing billions of workers will end up being pretty hard and it will take some time..
It's an interesting question. Do you know the concept of "Disguised Unemployment" in economics? There are too many institutions laden with too much bureaucracy and inefficiency on this planet which are ever on the target of "downsizing consultants". There are many developing countries where notaries still use type-writers to this day, banks have so many staff like cashiers who count currencies, clerks who make copy-pastes in excel sheets, etc. All these are jobs that could have been automated already but maybe it didn't happen earlier because the going was easy, there was no recession.
As a business owner or shareholder wealth creator, your sole interest is profit making or increase in bottom lines, you'll never care about a bunch of employees getting laid off (as it's happening right now). The main cause of this is the underlying recession, AI is just being made to take the blame for it. All those "AI guys" you talk about who keep singing the songs of GPT/LLMs are perhaps just corporate sock puppets who are made to do that as a justification for these layoffs?
- bayeslaw 3y agoWhat layoffs? The labour market is still the tightest it's ever been almost everywhere.. don't get hn myopia from a few react developers being fired and whining here..
- pyeri 3y agoThere are entire websites like layoffs.fyi[1] and layoffstracker.com[2] that tell you which tech company laid off how many. I don't know about other industries but at least IT and a few others are undergoing a bloodbath right now as far as employment is concerned. BYJUS laid off over a thousand recently and they're an Ed-tech company. [1]: https://layoffs.fyi/ https://layoffs.fyi/ [2]: https://layoffstracker.com/ https://layoffstracker.com/
- bayeslaw 3y agoThose layoffs are the totally necessary consequences of the idiotic COVID overhiring these tech firms did and if you zoom out the problem is still the opposite: too many jobs are chasing too few job seekers. https://www.economist.com/finance-and-economics/are-labour-markets-in-the-rich-world-too-tight/21808579 https://www.economist.com/finance-and-economics/are-labour-m...