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As demand for these jobs grows, universities are creating new curricula, while others are attending bootcamps and launching personal projects to upskill for the AI ​​race.
But jumping into an AI job might not be the smartest idea, Conor Grennan, principal AI architect at New York University’s Stern School of Business, told Business Insider, highlighting the cyclical nature of the tech industry and questioning the long-term stability of AI jobs.
“The tech industry collapses every now and then,” Grennan said, adding, “All of a sudden there are no jobs in tech.”
Grennan added that there’s no “magic elixir” that will bring stability to the tech industry, because the industry, like any other, goes through periods of hiring and layoffs. And he’s right.
The tech industry has seen massive job cuts over the past two years, with more than 550,000 jobs set to be cut from 2022 onwards, according to an online tracker. Layoff.fyiCompanies such as Google, Meta, Amazon and Tesla have made multiple rounds of layoffs.
At the same time, companies are restructuring to prepare for the AI ​​boom and reaping the benefits of a hiring spree for AI talent. But tech stocks fell after companies including Microsoft and Amazon reported disappointing earnings last week, leaving investors worried the boom may be coming to an end.
Grennan warns against chasing general industries and advises people to pick something they’re good at. He urges MBAs to find “their talents and passions” and get trained in AI to “improve the quality and efficiency of their work,” regardless of the role or industry they choose.
He encourages the use of technology, but doesn’t think people should abandon their interests to work in tech just because it’s popular right now.
“I really encourage people to think, ‘When you say you want to work in AI, what does that mean?’ Because that’s not what you’re passionate about,” Glennan said. “You’re not passionate about coding or figuring out how these models work.”
In fact, Grennan said, “the great thing about this discovery is that you don’t need to know how the model works to use it to your advantage.”
Grennan highlighted the importance of marketing, operations and other service-related jobs that remain in demand in the labor market, and that the technology industry also relies on these jobs to support its businesses, he said.
“People think, ‘Oh, follow the new trend,'” Grennan says. “No, the new trend elevates whatever you’re passionate about.”
“And that’s what we want to be on the cutting edge of,” Glennan added.
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