AI hype and anxiety about layoffs among tech executives have taken an ugly turn in a recent survey. 45% of tech executives have resorted to binge drinking and the use of drugs such as OxyCotin due to the building fears over the negative impacts of artificial intelligence on job loss. Well, for decades, the tech industry offered the most lucrative paychecks. This is not going to change in the future either.
However, the artificial intelligence tsunami has visited this space with extreme pressure and a desire to survive among tech execs. The new survey shows that anxiety levels are building and already exposing 77% of employees to health risks. To hide the obvious pain and fears of job loss, many in the industry are turning to binge drinking.
What is the impact of Artificial Intelligence on job loss?
If you’re a tech enthusiast, there are chances the AI impact on job loss is something sending chills down your spine. Even those who find it very valuable in completing their daily tasks have to stop at some point and wonder about its long-term implications. However, the real worry resides in how the big tech companies are hiding behind artificial intelligence and ChatGPT to announce huge cuts in headcounts!
Besides the blanket prediction that AI will replace 300,000 million jobs, various execs are literally feeling the pain in the current job market shaking. Here are a few stats:
- Elon Musk’s new leadership at Twitter resulted in 80% employee layoffs accounting for 75,000 lost jobs
- Mark Zuckerberg announced plans for 10,000 reductions in employee headcount
- Amazon laid off more than 20,000 workers in corporate technology jobs
- British Telecom (BT) plans to lay off 55,000 staff in 7 years as part of artificial intelligence on job loss
- Vodafone will axe 10,000 employees in 3 years due to artificial intelligence tools
These stats only represent the tip of the iceberg. Greater churning in job marketing is happening due to AI and only a smaller percentage is reported to the mainstream media.
AI Job Loss triggered Fear among Tech Leaders
For some reason, you may think that artificial intelligence and chatbots only impact jobs for lower cadres. On the contrary, the survey has revealed that tech leaders are taking the greatest hit. The data insights are as follows:
- 38% of execs are suffering from depression due to AI layoffs
- 74% reported that the thought of AI replacing them resulted in health complications
- 77% say that the ongoing layoffs have negative impacts on their health and;
- 31% fear that AI will take their jobs
The surprisingly high levels of anxiety and depression due to AI layoffs among this workforce have resulted in binge drinking. Further, the majority of the workforce has resorted to using either prescribed or prescribed drugs to improve sleep and limit stress levels caused by artificial intelligence on job loss.
Well, we all know that the freedom of man must be sacrificed on the altar of survival. Nonetheless, the tactics remind you of Ostrich’s philosophy “If I cannot see the problem, it cannot see me!”
This is not to say that the tech world is losing its grip as the most lucrative job market. According to the Bloomberg Billionaire Index, two of the world’s richest come from this sector. They continue to make a staggering $14 billion every day! Enough to feed your generation, right?
However, the reality of life for the execs fueling these figures is a different story. Artificial intelligence on job loss has added to the list of their daily fears.
Now they have no option but rely on drugs to hide from the eminent catastrophe. Perhaps you looked at their lavish lifestyle, big titles, and busy schedules and thought that they run the world. Now you know, they need your help too!