It's not supposed to create new jobs, that's not what people say. Technology makes jobs more efficient, reducing the amount of human labor required. That makes whatever product that was being made cheaper. Now people have mire money to spend on other stuff. That "other stuff" is where the new jobs come from, new markets that previously weren't viable because of either lack of customers with disposable income or that product being made cheaper by some technology.
The problem is what happens when you need almost no workers because Agentic workflows have replaced all of them.
More jobs being destroyed than built means less money to spend by individuals, which means less profit, which means lower expectations, rinse repeat in a loop.
This is the deflation doom spiral, and the companies causing this cycle like most other problems think, this is a problem for next quarter; each time.
He means more jobs than it destroys. It will definitely create new jobs but one new job will replace many. It brings to mind the Billion dollar data center manned by a hand-full of tech workers. AI is doing something similar, 1 new job will destroy X many more.
heard someone say that touching a computer paid more than it should for nearly 30 years and now it's going to pay much less. Because everyone can do it, even computers.
[+] [-] parineum|7 months ago|reply
[+] [-] trod1234|7 months ago|reply
More jobs being destroyed than built means less money to spend by individuals, which means less profit, which means lower expectations, rinse repeat in a loop.
This is the deflation doom spiral, and the companies causing this cycle like most other problems think, this is a problem for next quarter; each time.
[+] [-] WheelsAtLarge|7 months ago|reply
[+] [-] david927|7 months ago|reply
[+] [-] Flatcircle|7 months ago|reply