IBM to pause hiring in plan to replace 7,800 jobs with AI - Bloomberg News
Reuters
Published May 01, 2023 05:27PM ET
Updated May 01, 2023 05:41PM ET
(Reuters) -International Business Machines Corp expects to pause hiring for roles as roughly 7,800 jobs could be replaced by Artificial Intelligence (AI) in the coming years, CEO Arvind Krishna told Bloomberg News on Monday.
Hiring specifically in back-office functions such as human resources will be suspended or slowed, Krishna said, adding that 30% of non-customer-facing roles could be replaced by AI and automations in five years.
His comment comes at a time when AI has caught the imagination of people around the world after the launch of Microsoft (NASDAQ:MSFT) Corp-backed OpenAI's viral chatbot, ChatGPT, in November last year.
The reduction could include not replacing roles vacated by attrition, the PC-maker told the publication.
IBM (NYSE:IBM) did not immediately respond to a Reuters request for comment.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.