For some time now, there have been speculations that Artificial Intelligence (AI) will eat away human jobs. These speculations seem to be correct. Many companies have started reducing their employees and getting their work done by AI. Now a company has stopped recruiting new employees. The CEO of the company says that AI is doing all the work done by humans. That’s why they are not recruiting new employees.
This company has not been taking new employees for a year
Swedish fintech company Klarna is now taking over most of the work from AI. This company is famous for its ‘Buy Now, Pay Later’ service. Its CEO Sebastian Siemiatkowski says that AI is doing almost all the work of employees. He said that his company has not been recruiting people for a year. Till a year ago, it had 4,500 employees, which has now come down to 3,500. Instead of filling the shortage of employees, the company has emphasized on automation and AI. In an interview, Sebastian said that like every tech company, our people also stay for 5 years and every year 20 percent of the employees leave the company. Our staff is decreasing due to stoppage of new recruitment.
What do the estimates say about AI?
In 2023, McKinsey & Company estimated that millions of employees would be affected by 2030 due to developments in AI. Similarly, Arvind Krishna, CEO of American tech company IBM, had said that in the next 5 years many jobs will be completely replaced by AI. He estimates that most of the jobs in departments like Human Resources will be eaten up by AI. Klarna’s lack of hiring new employees seems to justify these estimates.
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