Zaid
👤 SpeakerAppearances Over Time
Podcast Appearances
It might already be up by the time you're listening to this podcast.
So definitely go check that out if you wanna learn more.
Big picture here though, is that AI is now getting to the point where it can actually do stuff beyond just rewriting emails or helping students cheat on essays.
Agents can do the work of humans.
And if this tech continues to develop at this rapid pace, I mean, this could change the way entire industries work.
And that's starting to make people feel pretty uncomfortable.
So let's talk about it.
CEOs and CFOs might be salivating at the idea of AI agents boosting productivity and profit margins, but there's a growing wave of anxiety about what this all means for everyday workers.
In fact, we're already starting to see that AI might be impacting entry-level jobs.
The unemployment rate for recent college graduates is 5.6%.
And if you broaden that out and look at the unemployment rate for younger workers between the age of 22 and 27, that's at 7.8%.
Now, historically speaking, that's actually not that bad, but the rate has been climbing since the post COVID bottom in 2023.
It could be a sign that companies are starting to replace entry-level workers with AI.
Anecdotally speaking, whenever I talk to college kids, the biggest problem that I hear is the lack of entry-level jobs.
In fact, recently the CEO of ServiceNow said that he thinks the unemployment rate for recent graduates could spike to as high as 30% in the next couple of years because AI agents will be able to handle tasks typically done by an entry-level or mid-level worker.
So that's a pretty big concern.
Young people might not be able to get jobs.
And then you have some companies announcing big layoffs and blaming it on AI.
In February, Block, formerly known as Square, announced that they were laying off half their workforce, about 4,000 people.
And the CEO of that company, Jack Dorsey, straight up said that it wasn't because the business was struggling, but because of the effectiveness that teams are seeing from using AI tools.