Microsoft cuts: Is AI taking away our jobs?
The Indian Express · Ganesh Natarajan ·
These are challenging and exciting times, and the people and institutions who reimagine the future of jobs and adapt to it will be best equipped to succeed
Recently, Microsoft announced that 60,000 employees would be offered voluntary separation; there is also a constant flow of news about layoffs in many parts of the world, and occasionally, in India. These have raised fears of a bleak future for many job seekers and uncertainty for many young professionals in the early stages of their careers in services organisations. Is this fear warranted and if so, what steps can the youth take to find and hold on to jobs in the uncertain new world?
The fear of large-scale job losses is neither entirely imaginary nor completely justified. AI is already changing the nature of work, and some jobs are at genuine risk of disappearing. However, the available evidence also suggests that many jobs will be transformed rather than eliminated, and new occupations may emerge. The real challenge is for Gen Z to prepare themselves for the new demands of jobs where they will be surrounded by AI performing all repetitive tasks and they are trained to play the “human in the loop” role. To stay relevant, they have to add value through their contextual understanding and judgment.
What does the data tell us about job losses? The scale of potential disruption is significant. According to the International Monetary Fund (IMF), approximately 40 per cent of employment worldwide is exposed to AI. In advanced economies, the proportion rises to around 60 per cent, reflecting the greater prevalence of professional and knowledge-based occupations. In emerging market economies, the estimated exposure is approximately 40 per cent, while it is around 26 per cent in low-income countries. However, exposure does not automatically mean job loss; it just indicates that AI could affect the tasks performed in these occupations and incumbents must proactively seek new skills.
Read the full story at The Indian Express · All coverage of this story