Kamath expressed concern that sooner or later, many firms will blame AI for firing staff.
Zerodha CEO Nitin Kamath reassured staff through Twitter that the corporate is not going to lay off staff solely due to the mixing of AI into the platform, however on the identical time, he’s nervous about AI-driven layoffs.
Zerodha founder and CEO Nitin Kamath has supplied reassurance to staff who’re anxious in regards to the rise of AI and the opportunity of being laid off. He acknowledged on Twitter that Zerodha is not going to terminate any staff based mostly solely on AI-based integrations to the platform.
In mild of the widespread nervousness amongst staff relating to the proliferation of generative AI and quite a few layoffs throughout varied industries, Kamath has shared his perspective on the matter.
“We will not fire anyone on the team just because we have implemented a new piece of technology that makes an earlier job redundant,” Kamath tweeted. He acknowledged that till 2021, Zerodha had not discovered any use case for AI, however with current AI breakthroughs, Kamath believes that AI can take away jobs and disrupt society.
Kamath expressed concern that sooner or later, many firms will blame AI for firing staff as a option to earn extra and make their shareholders wealthier, thereby worsening wealth inequality worldwide.
“This isn’t a great end result for humanity,” he acknowledged.
Kamath also predicted that governments across the world are unlikely to put “guardrails” for accountable improvement of AI and guaranteeing workforces stay stress-free because of deglobalization rhetoric. “It is unlikely that people will be capable to compete with clever machines in lots of walks of life,” Kamath added to his tweet thread.
While it will take some time before the long-term implications and effects of AI become apparent, Kamath believes that enterprises should have faith in their employees and let them adjust to the new ways since they’ve helped businesses grow to their current state.
With that stated, we’re already seeing the results of improvement within the AI house, as firms, together with IBM have already acknowledged that they may cease hiring for round 7,800 job roles, as they are going to be served by synthetic intelligence.
