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AI is threatening white-collar jobs across industries

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The advent of generative AI, characterised by its ability to create content, is ushering in a new era of technological disruption.

Companies such as Google, Duolingo, and UPS have recently announced job cuts, citing the integration of machine learning and other AI applications aimed at enhancing productivity.

Industry experts warn that the impact of generative AI could extend beyond routine tasks, potentially reshaping or eliminating roles traditionally held by middle and high-level managers.

Snapchat is a surprise AI breakthrough hit

Unlike previous waves of automation, this technology poses a significant threat to knowledge-based workforces, fundamentally altering the corporate landscape.

Ai adoption

The implications of AI integration are already evident, with over 4,600 job cuts attributed to AI adoption since May, particularly in media and tech sectors.

However, the true extent of AI-related layoffs may be higher, as many companies have not explicitly linked workforce reductions to technological advancements.

Furthermore, the proliferation of generative AI has transformed the daily workflows of professionals across various industries, with a majority reporting improved productivity.

Yet, this surge in efficiency has been accompanied by job cuts, as companies redirect resources towards AI development and operational optimisation.

Cost-saving

For instance, Alphabet’s Google recently laid off hundreds of employees as part of cost-saving measures and increased investments in AI research.

Similarly, UPS announced plans to eliminate 12,000 jobs, primarily in management roles, attributing the decision to the adoption of machine learning technologies.

As AI adoption accelerates, management hierarchies are expected to undergo significant restructuring, with middle-management roles facing the brunt of automation.

Entry-level positions are likely to evolve into managerial roles, while senior executives anticipate AI augmentation to enhance workforce capabilities, enabling employees to focus on more strategic initiatives.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Is GenerativeAI transforming education?

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Educators today are facing an uphill battle, so what’s the solution?

Today’s educators are passionate, but they’re up against diverse classrooms and outdated teaching methods.

In this episode, Trevor Furness, Chief Revenue Officer of Octopus B-I discuss their efforts to transform education. #funding futures

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News

How AI is leveraging Amazon’s fast production

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Amazon reported better-than-expected results for the last quarter, surpassing analysts’ estimates.

Amazon reported better-than-expected results for the last quarter, surpassing analysts’ estimates, driven by strong performance in its cloud computing and AI.

Ticker’s Ahron Young & Veronica Dudo discuss.

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Tech

Tesla is slashing prices to stay competitive

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Tesla cut the U.S. prices of its Model Y, Model X and Model S vehicles by $2,000 each, days after the first-quarter deliveries of the world’s most valuable automaker missed market expectations.

Elon Musk’s electric-vehicle (EV) maker lowered the prices for its Model Y base variant to $42,990, while the long-range and performance variants are now priced at $47,990 and $51,490, respectively, according to its website.

The basic version of the Model S now costs $72,990 and its plaid variant $87,990. The Model X base variant now costs $77,990 and its plaid variant is priced at $92,900.
Tesla North America also said in a post on X said it would end its referral program benefits in all markets after April 30.

Referral program allows buyers to get extra incentives through referrals from existing customers, a strategy long used by traditional automakers to boost sales.

Musk has postponed a planned trip to India where he was to meet Prime Minister Narendra Modi and announce plans to enter the South Asian market, Reuters reported on Saturday.
On Monday Reuters reported, citing an internal memo, that the EV maker was laying off more than 10% of its global workforce.
Earlier this month Reuters reported the EV maker had canceled a long-promised inexpensive car, expected to cost $25,000, that investors had been counting on to drive mass-market growth.
The EV maker reported this month that its global vehicle deliveries in the first quarter fell for the first time in nearly four years, as price cuts failed to stir demand.

Tesla is to report first-quarter earnings on Tuesday.

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