Is AI causing widespread layoffs according to hiring tech CEOs?

No, current data indicates that AI is not directly causing widespread layoffs, contrary to popular 'AI anxiety'.

What is the real reason for recent tech layoffs?

Recent tech layoffs are primarily attributed to over-hiring during the pandemic rather than AI-driven job destruction.

How is AI changing the hiring process?

AI is creating a surge in automated job applications and enabling new methods for candidate vetting and screening by platforms like Indeed.

Home / Business and Economy / AI Won't Steal Your Job, Says Hiring Tech CEO

AI Won't Steal Your Job, Says Hiring Tech CEO

28 Jan

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Summary

AI is not currently causing widespread job losses.
Tech layoffs stem from over-hiring, not AI destruction.
AI application volume is surging, requiring new vetting.

AI Won't Steal Your Job, Says Hiring Tech CEO

Hisayuki "Deko" Idekoba, CEO of Recruit Holdings, parent company to Indeed and Glassdoor, addressed concerns about AI's impact on the labor market from Davos. He emphasized that current data does not support the notion that AI is directly causing significant layoffs, countering widespread "AI anxiety." Idekoba stated that visible tech layoffs are largely a result of post-pandemic over-hiring rather than AI-driven job destruction.

New challenges are emerging for employers in talent acquisition due to AI. Companies are facing millions of automated applications for open roles. Additionally, AI tools like LLMs can enable applicants to mask deficiencies in their skills. Consequently, platforms like Indeed are expanding their roles in candidate verification and background checks.

To combat these issues, Recruit Holdings is developing AI agents to manage initial candidate outreach and screening on its platforms. This aims to reduce HR workload, cut costs, and enhance the applicant experience. The CEO anticipates greater CEO sophistication regarding the return on investment for AI technologies this year.