WFCN –
The US tech industry is still in the midst of a wave of layoffs. All kinds of businesses, from large tech companies to fledgling startups, have been hit hard by the wave of mass layoffs that has affected millions of workers.
There have been around 193 layoffs totaling nearly 50,000 employees in the first half of 2024. Just so you know, seven different companies have already laid off nearly 500 people in March. It would appear that millions of computer workers have more to worry about in light of the quickness with which businesses are downsizing and experiencing organizational overhauls.
Authority Hacker has released a new survey stating that 54.58% of workers are becoming more concerned about the likelihood of losing their jobs, with the tech industry clearly the most affected. According to the survey, the industries with the highest degrees of job security anxiety are software development (74.42%), and IT-Services and Data (89.66%).
Effects of AI on employment
Workers are understandably worried about the exponential growth of AI systems. In a poll conducted amongst employed individuals, 72.42 percent disclosed that they are anxious about how artificial intelligence (AI) may affect their employment in the coming five years.
Concerningly, nearly half of the respondents (48.28 percent) were in complete agreement that AI will affect their job security. Directors (78.83%) and C-suite executives (85%) are among those who are most anxious.
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Workers at organizations with 500-1000 people (74.33 percent) are the most likely to feel threatened by the prospect of losing their jobs, according to the report’s analysis of company size. Meanwhile, many in the software (67.44%), financial (67.75%), and human resources (64.29%) industries are very worried about losing their jobs due to automation.
Conversely, the education industry (43.14%) and the real estate sector (44.68%) appear to be the least worried about how AI would affect their employment. One thousand two hundred full-time employees from all throughout the United States participated in the Authority Hacker survey.
What comes next
It is clear from current trends and the effectiveness of AI models that AI will not only cause job losses, but it may also open up new opportunities. Actually, up to 97 million new jobs could be created by AI by 2025, according to a recent World Economic Forum estimate. It will be crucial to acquire AI skills.
To survive the AI tsunami, we think it’s crucial to integrate AI into everyday operations, concentrate on interpersonal skills like empathy and communication, build professional networks, and develop specific knowledge and personal branding.
Research has shown that most executives believe AI will complement current job functions rather than completely replace them. This highlights the need for AI training to reduce the likelihood of job loss.
Mark Webster is a co-founder of Authority Hacker, the publication that publishes the study. The online marketing education is the main emphasis of the organization. From its inception, Authority Hacker has provided over 13,000 students with courses, podcasts, and blog posts that draw on real-world expertise to help them construct high-authority websites.