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  • Writer's pictureRealFacts Editorial Team

Tech Job Market Faces Mixed Implications Amidst the AI Boom

An AI humanoid looking at a human

As AI developments continue to progress rapidly, many people have concerns about what it means for jobs for US citizens. During Bloomberg Markets: The Close, Jeremy Johnson, CEO & Co-Founder of Andela, was interviewed and asked about the current state of the tech job market. Andela is a company with a worldwide network for job placement, specializing in connecting software developers with sustainable career opportunities. Johnson commented on the recent job openings that have emerged due to the AI boom. 

He said, “Last week, the jobs report came out, and over 10% of every IT job created in the US now has AI as one of the requirements. That's at 415 thousand open IT jobs in the US just last Friday. And so, this is rapidly becoming the most in-demand area.” While AI is partially responsible for this huge demand for IT jobs, it's also a reason why some workers may be laid off. AI has the capability to perform many monotonous tasks that individuals in the past needed to perform, causing less demand for these types of jobs. 

Many see this as negative, but others see it as an opportunity to free up human hands to work on problems and projects that can lead to further developments and breakthroughs in the tech space and throughout various industries. Johnson stated, “At the baseline, what a lot of people are talking about is large language models, and being able to train and ultimately build large language models to assist humans in their own jobs.” This “assisting” role that AI can play is a significant factor in boosting efficacy for companies that embrace AI. 

With these developments, Alix Steel, Bloomberg Host, described the tech market as highly bifurcated. On one side, the AI boom is generating jobs to advance AI development. Conversely, over the last 18 months, numerous individuals in the tech sector have faced layoffs as AI capabilities replace their roles. These AI advancements will undoubtedly continue to impact the US job market and the strategies of companies who are investing billions in the research and development of large language models.

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