Thread regarding Wells Fargo & Co. layoffs

AI really is going to decimate the white collar job market

I just came from an AI presentation and let me tell you, this stuff is real. If you are not producing tangible work products on a daily basis that isn't easily reproducible, then you will likely find yourself along with thousands of others trying to find a job in the next few years. A lot of middle management will def be axed. Be humble, this reminds me of how people would make fun of blue collar folks when they would say "They are coming for our jobs!" as executives off shored everything they could. It started with simple call centers, but offshoring is now consuming engineering and management jobs. They don't have to be that good since AI will assist them, at least that's the pitch. I guess its our turn. Is it too late to become a plumber?

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Post ID: @OP+1sySMENH

20 replies (most recent on top)

The sky was falling at the dawn of every revolutionary advancement… horseless carriages being just one example. And yet, countless jobs were created in the auto industry, auto repair, road construction, oil & gas, roadside motels, travel guides, GPS, etc.

Skills and jobs will change along with this revolution too. It’s a matter of being open and ready for the change rather than resisting it.

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Post ID: @5ziq+1sySMENH

Why will mgrs be affected? Only because their workers are. It will not just be mgrs

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Post ID: @4jzx+1sySMENH

AI won’t work without power - once we start having major cyberattacks we’ll go back to paper billing

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Post ID: @1suw+1sySMENH

@fwx+1sySMENH

Who knows, I don't have a crystal ball. I'm guessing AI will create a lot of opportunities that are difficult to envision ahead of time. I'll be retired anyway so I'm not too worried about it, but the survival instinct is pretty strong in human beings. We'll figure it out. We always have.

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Post ID: @1rsq+1sySMENH

Be the electrician. No power, no AI.

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Post ID: @stu+1sySMENH

@iua Their new purpose will be trying to maintaining a subsistence level of life, while billionaire's and tech magnates say it's not their problem from a safe place.

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Post ID: @vky+1sySMENH

@jlr+1sySMENH ...this isn't what we have seen before, seriously, it's much much different. It's not like when they got rid of secretaries because of email and MS office. This is a huge paradigm shift. If you take time and see what is being created and how fast it has progressed you will get it, There is a reason people like Bill Gates are literally saying that his biggest concern with AI is people having a purpose since most work will be replaced.

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Post ID: @iua+1sySMENH

There will always be something that needs to be fixed on the back end. AI is good at basic stuff for now but complex tasks still require more than pattern recognition and contextual search.

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Post ID: @qry+1sySMENH

"people just shifted to other things where humans were more useful"

Where will they go now, when more and more is automated, offshored, or powered by AI?

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Post ID: @fwx+1sySMENH

There is always more to the story. https://www.reuters.com/business/energy/us-power-tech-companies-lament-snags-meeting-ai-energy-needs-2024-04-18/

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Post ID: @knh+1sySMENH

I, for one, welcome our new AI robot overlords.

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Post ID: @zmi+1sySMENH

Like seriously. Be honest with yourself. Does this company really need people to originate mortgages? If you take the person out of that job and their incentive to squeeze the transaction for some additional commission, does it really need a person to run the calc of income, credit score, debt and available programs? The customer can get an answer and a rate much quicker from a computer and an interface than it can having to talk to one of our minimally educated mortgage monkeys. Sorry to break the news to some.

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Post ID: @heg+1sySMENH

So why do we need all these subpar Indian engineers if we can just do the same with 1 skilled US engineer who employs AI?

There’s Indian Lead engineers that spend half a sprint on a couple lines bug fix jira.

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Post ID: @slg+1sySMENH

I thank God I'm about a year from retirement!!

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Post ID: @esy+1sySMENH

OP stayed at a holiday inn express last night

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Post ID: @oui+1sySMENH

AI is replacing India/offshoring, too, so there's that!

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Post ID: @mih+1sySMENH

OP is spot on. It is incredible what AI can do, in ways that are expanding every day. I just finished a course and AI was a magician. We were shook.

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Post ID: @voi+1sySMENH

Every market has a downside, of course. Getting into physical work (e.g. plumber, warehouse) has more job security potentially, but is also physically demanding, comes with potential exposure concerns, and requires a lot more hustle (no kicking back and relaxing). But i agree about how the market is changing. I'm job searching after being laid off, and there is much more of a need for jobs involving physical interaction than white-collar desk jobs. I'll probably be (happily) taking a large pay cut to transition my skillset into more of a physical industry. But we'll see.

Of course, you can still find those white-collar roles, but who knows how long they'll be around before automation replaces them.

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Post ID: @zss+1sySMENH

Agreed.. my dept is constantly going thru FLIV and audit in order to distill our controls & reports down to automated reporting KPIs. Noone left to run the bank except AI, automation and executives / shareholders to take the $$$ and run.

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Post ID: @nek+1sySMENH

Take heart. Tech game changers have come many many times before and while disruptive, as a group society finds a way. The internal combustion engine "took" tons of jobs, people just shifted to other things where humans were more useful. Doesn't mean there isn't chaos when these things happen, or negative consequences for individuals, but we'll adapt.

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Post ID: @jlr+1sySMENH

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