News

American Technology Corporation IBM to Replace 7,800 Jobs With Artificial Intelligence

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.

 

Read more:

Twitter Will Soon Let Media Publishers Charge Per Article

Sponsored
Abdullah Shahid

Leave a Comment
Share
Published by
Abdullah Shahid

Recent Posts

SBP Chief Reports October Remittances Exceed $3 Billion

KARACHI: The State Bank of Pakistan (SBP) is anticipating $500 million from the Asian Development…

55 seconds ago

Sindh Assembly Reveals 28,500 Govt Employees’ Spouses as Illegal BISP Beneficiaries

The Sindh Assembly was informed that over 28,500 employees of the provincial government were unlawfully…

1 hour ago

SBP Eases Policy Rate by 2.5% as Inflation Shows Steady Decline

The Monetary Policy Committee (MPC) of the State Bank of Pakistan decided to cut the…

1 hour ago

SECP to Host Pakistan Startup Summit in Karachi Next Week

The Securities and Exchange Commission of Pakistan (SECP) is organizing the Pakistan Startup Summit, which…

1 hour ago

Fake News by Pakistani AI Website Sparks Turmoil in Ireland

On October 31, 2024, Halloween was celebrated worldwide, and the holiday spirit still lingers. Pakistan…

2 hours ago

Pak Suzuki Drops Popular Graphite Grey from Vehicle Lineup in Pakistan

Pakistan Suzuki Motor Company (PSMC) has announced the discontinuation of the widely favored Graphite Grey…

2 hours ago