PYMNTS.com July 14, 2024
Artificial intelligence (AI) is playing a role in recent tech sector job cuts.
Layoffs in the tech industry for the year exceeded 100,000 as of July 12, Seeking Alpha (SA) reported Sunday (July 14), citing data from the tracker Layoffs.fyi.
Among the most recent layoffs were at Intuit, maker of products such as TurboTax and QuickBooks, which announced last week it was cutting 1,800 roles amid a new focus on AI.
But as the SA report noted, Intuit isn’t replacing those employees with AI bots, but instead planning to hire the equal number of workers with AI expertise. The report also cited the 2024 Economic Report of the President, which says up to a fifth of America’s workforce is at...
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