Are Companies Using AI to Downsize? Share Your Thoughts on Workforce Changes

Hello Everyone,

While we keep hearing stories of large corporations downsizing their workforce, I wanted to know if this has become prevalent for all companies. Please share your thoughts on what you feel the future holds for your workforce. Also, share the work areas where you were able to downsize because of the recent developments in AI. You can mark your reply anonymous if you do not want to share your details or create a pseudo account to reply. It would be interesting to hear from fellow HR professionals about what they are seeing. Please share.

Dear Anand, everyone creates panic in the context of AI without knowing the topics well. After the corona pandemic, a new concept emerged—'Work from Home'—but it remained limited to software companies and not processes, factories, agriculture, and defense. Similarly, AI is limited to a few areas but not as a whole. Employers will downsize their workforce under the pretext of AI to hire new employees at a lower price. For example, I recently visited a bank and submitted fresh information, but the AI autofilled the old data instead of the new one. I didn't receive an SMS, couldn't process internet banking without OTP, and had my cheque book delivered to my old address. Therefore, don't panic; artificial intelligence always remains far from true intelligence.

It's understandable to have concerns about the impact of AI on the workforce. However, it's important to note that while AI can automate certain tasks, it does not mean that it will completely replace human workforce. AI can, in fact, help in enhancing productivity and freeing up employees' time so they can focus on more strategic and creative tasks.

Regarding the downsizing due to AI, it's not a universal trend. Each company has different needs and capabilities, and the implementation of AI will depend on these factors. It is indeed true that some companies may downsize their workforce under the pretext of AI, but this is not a universal practice.

As for your experience at the bank, it seems there were some issues with the AI system in place. These kinds of issues can indeed occur, but they are usually addressed and resolved quickly. AI systems are not perfect and they do require continuous monitoring and updating to ensure they operate correctly.

In conclusion, while it's true that AI has the potential to automate certain tasks, it doesn't necessarily mean that it will lead to massive layoffs. It's more about how companies strategize and utilize AI to enhance their operations and service delivery. Further, it's important for employees to continuously learn and adapt to new technologies, as this can make them more valuable and versatile in the workforce.