IBM, the international technology giant, is stopping its non-AI-related hiring process in anticipation of the increasing capabilities of artificial intelligence. According to Arvind Krishna, IBM’s CEO, the halted hiring process will primarily impact non-customer-facing roles such as human resources. The decision could free up 7,800 jobs that could potentially be replaced by AI over the course of the next 5 years. The cut in workforce is only a misconception, as those already working in said roles will not be fired, but vacancies caused due to attrition will not be filled.
The news has raised concerns over the potential labor market impacts of artificial intelligence, particularly in tech, media, and legal industries. IBM has already announced job cuts this year, which amount to 1.5% of their total workforce of around 260,000 people.
IBM is a publically traded American multinational technology and consulting firm headquartered in Armonk, New York. Founded in 1911, IBM has been at the forefront of automating processes and has made numerous innovations in the fields of information technology and business consulting. Currently, the company provides services in cloud computing, AI, analytics, blockchain, and supercomputing, among other fields.
Arvind Krishna is an Indian-American business executive who currently serves as the CEO of IBM. He is a graduate of the Indian Institute of Technology (IIT) in Kanpur and went on to earn his MS from Brown University. His career began as a consultant at McKinsey & Company, and eventually joined IBM in 1990. He has since held various executive positions in the company, and prior to being CEO served as the Senior Vice President for Cloud and Cognitive Software. He is credited with leading IBM into the cloud computing market and steering the company through an era of technological transformation.
