00:00Over the last year, the tech industry has been absolutely waylaid by layoffs, from Twitter to
00:05Meta, even Amazon, all laying off a substantial portion of their workforce, sometimes upwards of
00:1080% of their staff. Now, Insider reports, a lot of those jobs are likely not coming back,
00:16and a lot of that has to do with the emergence of significantly more capable artificial
00:20intelligence. In total, some 250,000 tech workers are estimated to have lost their jobs since the
00:26start of 2022. And Indie.com reports, there are 50% less job postings for software developers as well.
00:33According to Brian Nowak and colleagues, analysts at Morgan Stanley, AI-assisted coding are both
00:38making engineers more efficient while cutting costs for companies. The analysts even pointed
00:42to what Microsoft leadership said was a 55% increase in productivity for its staff using
00:48GitHub Copilot. And some tech leaders have in fact reported earnings that were surprisingly
00:52better than expected for this quarter, supporting the move, with Chief Financial Officer at Meta
00:57saying about AI, quote, It's something we're excited about, and I think we will have more clarity on
01:02that, as more tools begin getting developed to enhance employee productivity across the industry.
01:06That's a stark wake-up call for tech workers, who have always been on a pedestal, believed to be
01:11untouchable by the claws of the ever-reaching AI workforce.
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