IBM CEO Arvind Krishna said that the company is freezing its hiring for certain positions as they predict over 7,800 jobs to be replaced by AI in the near future
IBM (International Business Machines Corporation) CEO Arvind Krishna, on Monday stated that the company has planned to freeze its hiring for certain positions since they have predicted that approximately 7,800 jobs will be replaced by AI (artificial intelligence) in the near future.
According to Krishna, the areas of employment that will be most affected by this decision will be back-office functions. Back office functions include jobs such as human resources, accounting, compliance management etc.
Krishna stated that the hiring for back-office functions will either be freezed or slowed down over this period. Adding to his statement, the CEO predicted that AI and automation could replace up to 30% of non-customer-facing positions in the next five years.
IBM’s decision to freeze its hiring and look towards artificial intelligence comes after AI made some rapid advancements in just over a few months after OpenAI’s ChatGPT exploded amongst users, receiving over millions of daily users and ultimately a deal with Microsoft.
Krishna in his statement, also added that IBM will soon be slowing down or suspending recruitments for vacancies left by departing employees.
Following IBM, a lot of other companies might also take some similar initiatives and slow down or even completely shut down their hiring processes for all jobs replaceable by artificial intelligence.
Will artificial intelligence cause a job crisis? What’s you take on this? Let us know in the comments below.
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