Gen Z vs. Artificial Intelligence: Layoffs are Looming
We’ve all heard the story by now: the emergence of artificial intelligence is disrupting the workforce. A recent survey reports that entry level positions typically occupied by Gen Z are quickly being replaced by advances in AI.
Intelligent.com surveyed 804 hiring managers and a whopping 78%, almost eight out of ten, said their company will layoff recent graduates due to AI use. Only 22% of hiring managers do not expect to release recent graduates because of AI use.
The numbers vary across the board with 23% of companies letting go less than 3% of their employees and another 27% acknowledging that 5-10% of their recent graduates would lose their jobs. However, 11% of companies are planning to cut 15-30% of their recent graduates, but will also be laying off 30-60% of their entire workforce.
“Many recent graduates are hired to fill entry-level roles that involve information-related tasks such as research, data entry, customer service, and general office assistance,” says Chief Education and Career Development Advisor, Huy Nguyen. Even though these are the first stop for new hires to gain experience in their chosen industry, unfortunately they are also the most easily replaceable by artificial intelligence.
Businesses site reduce costs, improved efficiency and accuracy as reasons to resort to AI.
Internships are also being impacted by artificial intelligence. Intelligent.com explains that “While 86% of hiring managers report that their companies offer internships, 5% say that they stopped offering internships, and 8% say they never did.”
In a similar survey by ResumeBuilder.com, 83% of business leaders believe employees with AI skills will have more job security. Take this opportunity to shore up your skill set. If you are still in school, consider adding a tech minor before graduating. If you are a recent graduate or new to the workforce, consider these ways to build new skills without going back to school.