Azeem Azhar

They hugely, hugely over-hired in and around COVID.

And of course, naturally, as the market changes, as you see growth in different areas, they end up trimming their sales.

So it's hard to interpret at this point what's going on.

But it wasn't just Satya.

Sundar Pichai from Google saying about a third of all code is AI generated.

Andy Jassy from the CEO of Amazon

saying that AI is going to lead to fewer jobs overall.

And just in the last couple of weeks, Amazon passing a million humanoid robots.

And I think that was that significance that it's as many humanoid robots or robots, not all humanoid, pardon me, as there are people.

It's not, of course, just the tech companies.

So Jim Farley, who is the CEO of Ford, he's a guy I really like, he's a very good straight talker, been very, very authentic about the capability of Chinese electric vehicles, has recently said, look, he thinks AI could eliminate up to 50% of current white-collar jobs.

And Jamie Diamond from JP Morgan has anticipated this 10% reduction in headcount due to AI tools.

So that

area was not something I put in a prediction about, and that's remiss of me.

So to my readers and to listeners, I apologize for missing that out.

The thing that I would say on that particular question is, of course, we're going to talk about it over the summer.

We've got a couple of really good essays coming out on that topic.

But the other thing to note is, so I've run a model, I haven't had a chance to write it up yet, where I looked at the automation of several classes of white-collar desk work, from invoice processing to payroll, accounts receivable, HR, basic legal drafting.

And I looked at the volume of work that was done in 1945 in those areas, in 1975, 2000, 2025.

And you can say one thing coming out of this, and I'm rather preempting what I will write when I finally get around to writing this, which is that the amount of work that is done in those categories by automations today exceeds the amount of work done in those categories by humans in 1945.