No Money In IT For Humans? AI Eating All Money?
This is being pointed out by Zoho chief Sreedhar Vembu, who pointed out that the industry is very much saturated, and there are no real jobs that are being offered for humans anyway.
The software and IT industry has been one of the most satisfactory outlets for the human workforce globally. But now things are starting to change drastically with the onset of the AI revolution.
This is reflecting in the fact that humans are eventually ending up making little money from the IT sector.
This is being pointed out by Zoho chief Sreedhar Vembu, who pointed out that the industry is very much saturated, and there are no real jobs that are being offered for humans anyway.
On top of that, he replied that the IT sector is generating more money for AI for humans, which needs to stop.
Sreedhar points out that the real problem India is facing now along with other countries is the inability to provide jobs for the youth in this very uncertain global landscape.
Sadly, the IT industry, including Zoho, have not created many jobs in recent years. They have not laid off people but we are not creating new jobs either.
The money that would have gone to new employees is now going to AI and data center costs, the latter due to the steep rise in server and memory prices. We are trying to control those costs but a lot of that is out of our control.
This is a very problematic situation in the IT sector, and it has to be seen how this would seriously affect the human working capital in the days to follow.