IBM CEO Arvind Krishna has announced that the company will put a pause on hiring for back-office roles that could be potentially automated by artificial intelligence (AI). In an interview with Bloomberg, Krishna stated that many back-office positions, such as those in human resources and accounting, will likely be the first to be automated by AI. He added that he could “easily” see 30% of these positions replaced by AI over a five-year period. The move is part of IBM’s ongoing efforts to streamline its operations and reduce costs.
The potential impact of AI on the job market has been a topic of concern for many people. A recent study found that 62% of Americans think implementing artificial intelligence in the workplace will have a “major impact” on workers within the next 20 years, leaving many employees “wary” and “worried” about what their future holds.
However, some experts believe that AI will not necessarily lead to job losses, but rather to a shift in the types of jobs that are available. Blockchain developer Salman Arshad, for example, believes that instead of AI coming in to wipe out the developer market, it will only serve as a tool to increase efficiency. Similarly, blockchain developer Syed Ghazanfer explained that the combination of human input and AI offers much more versatility than a complete transition to AI automation.
ChatGPT and AI tools are a blessing; they are not our enemies and are not here to end the career of a developer.
Salman Arshad, Blockchain developer.
On the other hand, Dominik Schiener, the founder of the IOTA Foundation, believes that AI will take away employment opportunities from humans, but at the same time, AI and robotic process will create new jobs. “We’ll see more and more humans being forced to pivot to new roles that may look nothing like anything they’ve ever done,” he said.
In the crypto sector, AI is already being used to increase efficiency and streamline operations. For example, AI-powered trading bots are becoming increasingly popular, allowing traders to automate their strategies and make more informed decisions. Additionally, AI is being used to identify patterns in cryptocurrency transactions and flag suspicious activity, helping to combat fraud and money laundering.
The overall impact of AI on the job market and the crypto sector remains to be seen. While some experts believe that AI will lead to job losses, others see it as an opportunity for increased efficiency and new job opportunities. It is clear, however, that AI is already playing a significant role in the world of work and is likely to become even more important in the years to come.
