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AI adoption linked to 13% decline in jobs for young U.S. workers: study

cnbc.com

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Re: AI adoption linked to 13% decline in jobs for young U.S. workers: study

#531

Post by nicce »

kypro wrote: post #496
nicce wrote: post #422

Earlier quoted context omitted.

So what are the long term risks when senior staff leaves and those need to be replaced with new seniors that have never seen the existing work vs. promoting younger people who knows the projects and practises?

These days normally what corporates do is bring in people from abroad who have the skills. The idea that companies would seek to train up domestic workers if there is a skill shortage is outdated today – even if theoretically this might be good for the domestic workforce. It's just cheaper and easier to import the skills needed.

I think I disagree. It sounds like that companies that do this are average at most and has nothing own - otherwise it would not be possible to just replace the workers. If your company is average, it does not attract real talents.

But maybe my comment was not noting every discipline. I was mostly thinking about software development.

Re: AI adoption linked to 13% decline in jobs for young U.S. workers: study

#532

Post by goodpoint »

raincole wrote: post #297
fibers wrote: post #8

The accounting note is not true in the traditional sense. The field in the US is just getting offshored to India/PH/Eastern Europe for better or for worse. There is even a big push to lower the educational requirements to attain licensure in the US (Big 4 partners want more bodies and are destroying the pipeline for US students). Audit quality will continue to suffer and public filers will issue bunk financials if th…

It's amusing to see programmers in the US promoting remote work. Do those people really believe they're the most intellectually superior to the rest of the world? If a job can be done purely remotely, what stops the employer from hiring someone who lives in a cheaper place?

You think having a HQ in US would prevent a company from opening an office in another country?

Re: AI adoption linked to 13% decline in jobs for young U.S. workers: study

#533

Post by rimbo789 »

solatic wrote: post #458
jimmont wrote: post #327

Organizations are choosing to eliminate workers rather than amplify them with AI because they'd rather own 100% of diminished capacity than share proceeds from exponentially increased capacity. That's the rent extraction model consuming its own productive infrastructure. The Stanford study documents organizations systematically choosing inferior economic strategies because their rent-extraction frameworks cannot conc…

> This reveals that these organizations are economic rent-seekers that happen to have productive workers, not production companies that happen to extract rents. Your perspective is so contrary to reality I'm actually not sure if you're trolling or not. There is no such thing as pure value creation. In order for labor to create value, it must be aligned with the company's value proposition, i.e. what convinces custome…

You got there in the end. Hiring people is a necessary evil and ai allows companies to massive reduce the necessity of that evil. Having done budgeting and forecasting for a wide range or organizations companies will do anything to avoid hiring an employee. I’ve seen companies spend 3x what an employee would cost just to avoid the increased headcount.

The forces of capital do not want to share a single penny and are solely focused on getting to a place of rent.

Re: AI adoption linked to 13% decline in jobs for young U.S. workers: study

#534

Post by js8 »

bigfatkitten wrote: post #380
bilsbie wrote: post #156

AI is the popular cover excuse for layoffs. I can’t think of a single job that modern AI could easily replace.

The jobs aren't being taken by AI. The capital that used to fund those positions is instead being diverted into AI initiatives.

This is what HasanAbi mentioned the other day. Betting on AI to do a job (especially if it fails to replace it) is a double economic whammy. You get rid of original people who did the job, and then you don't have funding for other things (also includes people) because you need to recover the AI costs.

Collective delusion about AI (or similar craze) can be large enough to actually tank the economy.

Re: AI adoption linked to 13% decline in jobs for young U.S. workers: study

#535

Post by ddddang »

vvpan wrote: post #340

Lots of people are sceptical but I cannot imagine a use for entry level positions anymore. At my work everybody got to calling AI "the intern", which is not confusing because we do not have and have no use for interns.

[dead]

Re: AI adoption linked to 13% decline in jobs for young U.S. workers: study

#536

Post by rimbo789 »

rekenaut wrote: post #395
vvpan wrote: post #340

Lots of people are sceptical but I cannot imagine a use for entry level positions anymore. At my work everybody got to calling AI "the intern", which is not confusing because we do not have and have no use for interns.

Traditionally, interns exist as a well-vetted and well-shaped supply of labor (which is very difficult to find through the traditional hiring process). The work they complete is secondary. Are companies going to stop needing good employees? Is nobody going to need to work in 40 years when all the current employees are phased out?

If interns existed like that they haven’t in the 21st century. They are a free disposable short term labour to be ripped through.

Also what company do you know of thinks in 40 year terms? The longest budgeting process I’ve been part of has been 3 years and the year 3 numbers were understood to be pure wish fulfilment

Re: AI adoption linked to 13% decline in jobs for young U.S. workers: study

#537

Post by mothballed »

triceratops wrote: post #224
sandspar wrote: post #144

Earlier quoted context omitted.

>Buy a trailer, live somewhere cheap, do odd jobs Unrelated to the discussion, but I love these kinds of backup plans. I've found that most guys I talk to have one. Just a few days ago a guy was telling me that, if his beloved wife ever divorces him, then he'd move to a tropical island and become a coconut seller. (My personal plan: find a small town in the Sonoran Desert that has a good library, dig a hole under a n…

> he'd move to a tropical island and become a coconut seller. Is there a visa for that? Doesn't seem feasible unless he lives in a country that has a tropical island already.

Due the compact free association, US citizen can permanently settle to live and work in Micronesia with no visa or even any real checks other than a quick look at the passport.

Re: AI adoption linked to 13% decline in jobs for young U.S. workers: study

#538

Post by Havoc »

Not sure what these guys are studying but can tell you in the real world - essentially zero AI rollout in accounting world for anything serious.

We've got access to some fancy enterprise copilot version, deep research, MS office integration and all that jazz. I use it diligently every day...to make me a summary of today's global news.

When I try to apply it to actual accounting work. It hallucinates left, right & center on stuff that can't be wrong. Millions and millions off. That's how you get the taxman to kick down your door. Even simple "are these two numbers the same" get false positives so often that it's impossible to trust. So now I've got a review tool that I can't trust the output of? It's like a programming language where the equality (==) symbol has a built in 20% random number generator and you're supposed to write mission critical code with it.

Re: AI adoption linked to 13% decline in jobs for young U.S. workers: study

#539

Post by weatherlite »

sensanaty wrote: post #447
raincole wrote: post #297

Earlier quoted context omitted.

It's amusing to see programmers in the US promoting remote work. Do those people really believe they're the most intellectually superior to the rest of the world? If a job can be done purely remotely, what stops the employer from hiring someone who lives in a cheaper place?

I'm one of those offshore people that live in a cheaper place and works remotely for a US co. The majority of people in the company are still in the US, and even for the East coast, the timezones are just annoying to work around sometimes. Either I need to do late days, or they have to do uber early mornings/SUPER late days, don't even get me started on West coast where the hours basically never match. And I'm in the…

> but it's really not that much lower, plus life is just cheaper, even here in the Netherlands.

Lived in the NL for 4 years, it was many things - cheap wasn't one of them. With the enormous taxes , high rents and mediocre salaries I don't think you can make the case it's somehow cheaper than the U.S unless you specifically mean Manhattan and Silicon Valley.

Re: AI adoption linked to 13% decline in jobs for young U.S. workers: study

#540

Post by _ink_ »

jameslk wrote: post #347
jimmont wrote: post #327

Organizations are choosing to eliminate workers rather than amplify them with AI because they'd rather own 100% of diminished capacity than share proceeds from exponentially increased capacity. That's the rent extraction model consuming its own productive infrastructure. The Stanford study documents organizations systematically choosing inferior economic strategies because their rent-extraction frameworks cannot conc…

> So what comes next? When you don’t need as many people because of automation, you also don’t need them to fight your wars. You use drones and other automated weapons. You don’t need things like democracy because that was to prevent people from turning to revolution, and that problem has been solved with automated weapons. So then you don’t really need as many people anymore, so you stop providing the expensive heal…

> When you don’t need as many people because of automation

You want to sell your stuff to someone, tho. So, unless you find a way to automate consumption as well, you do need people and lots of it.

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