Skeptics warn that the 140,000 job cuts by US tech groups are a canary in the coal mine, not a blip. These layoffs are directly linked to AI: companies are automating tasks once done by humans. For instance, customer support chatbots and AI content generators have already displaced workers in call centres and journalism.
The Financial Times data shows that many of the laid-off workers are not being rehired into AI roles; they are simply let go. The net effect is job destruction, at least in the short term. While overall US employment is strong, tech sector employment has shrunk, and the pace of AI adoption is accelerating. Algorithms now perform coding, legal document review, and financial analysis — tasks that previously employed skilled professionals.
Critics argue that the 'apocalypse not coming' narrative underestimates the speed of change. AI capabilities are doubling every few months. Low- and medium-skill jobs are most vulnerable, but even white-collar roles face risk. Retraining programmes have limited capacity and success. A study by the Federal Reserve found that displaced tech workers often take lower-paying jobs.
Without robust social policies — like universal basic income or portable benefits — many workers could be left behind. The future may not be an overnight apocalypse, but a steady erosion of job security. Ignoring the signs now could lead to a crisis later.