The article also notes the paradox faced by recent graduates who struggle to gain experience due to reduced entry-level opportunities. Heather Doshay from SignalFire advises new grads to master AI tools to remain competitive, suggesting that proficiency in AI could safeguard their jobs. While AI poses a threat to low-skilled jobs, the need for skilled professionals who can leverage AI tools is growing. The article concludes with a brief mention of Marina Temkin, the author, who has a background in venture capital reporting and financial analysis.
Key takeaways:
- 40% of employers plan to reduce staff where AI can automate tasks, according to a World Economic Forum survey.
- SignalFire observed a 25% decrease in hiring of new graduates by big tech companies in 2024 compared to 2023, with startups reducing graduate recruitment by 11%.
- AI is contributing to the decline in entry-level job opportunities as it can automate routine tasks, making some jobs for new graduates potentially obsolete.
- Despite the decline in entry-level hiring, tech companies are increasing recruitment of experienced professionals, with big tech companies hiring 27% more professionals with two to five years of experience.