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AI and job losses: the current state of the tech industry

The tech industry is going through some tough changes, and unfortunately, it’s not good news for people looking for work. Big companies like Meta, Microsoft, and Salesforce have been laying off workers to improve their profits, and it doesn’t look like this trend will be slowing down anytime soon. Since the beginning of 2022, it’s estimated that over 250,000 tech workers have lost their jobs.

To make matters worse, job postings for software development have declined by more than half compared to a year ago. While this approach may be helping companies financially, it’s not great for those hoping to break into the tech industry.

AI is also a big part of the problem, with some analysts predicting that AI-based productivity tools could replace jobs permanently. With AI-assisted coding tools and AI-based sales software, many tech jobs could become unnecessary. Even coders, who have typically felt safe from automation, are now worried about the sudden rise of generative AI. The truth is, many tech jobs may not exist in the future.

While this news may be discouraging, it’s crucial to understand the realities of the current job market and plan accordingly.

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