AI is already linked to layoffs in the industry that created it | CNN Business

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Abstraction: AI driving tech sector layoffs and workforce skill reshuffling

Key points:

Chegg cut 4% of staff (~80 people) citing AI strategy realignment in mid-2023
Dropbox cut 16% (~500 people) while simultaneously hiring for "New AI Initiatives"
Challenger, Gray & Christmas reported 3,900 AI-attributed layoffs in May 2023, all in tech
AI/ML senior software engineers earn 12% more than peers and saw 4% salary growth YTD vs. flat for the broader group
Dropbox listed Principal ML Engineer roles at $276,300–$373,800 base vs. $171,895 average for senior SWEs
Columbia Business School professor Dan Wang frames it as "human specialists replaced by human specialists who can use AI tools"

Connections: Ibm · Dropbox · Openai · Generative AI · AI Workforce Displacement