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Generative Developments in AI: Google Cuts, Expected Industry Cuts, GenAI’s $1 Trillion Trajectory

The latest in AI trends…

Google is expected to make dramatic cuts due to AI

The Information is reporting that Google is exploring a substantial workforce reduction, potentially affecting up to 30,000 employees. This is reportedly aimed at sales as Google’s own AI is expected to disrupt its Ads and Adwords business.

AI may affect more jobs beyond Google

Newsweek is reporting that cuts are likely across the board as companies consider AI and a potential recession. According to a Resume Builder survey, nearly four in 10 companies said they are likely to have layoffs in 2024. Four in 10 said they are going to lay off employees and replace workers with AI.

Generative AI will continue to grow, exponentially

J.P. Morgan maintains its bullish-outlier view of GenAI. They believe this is a seminal moment in tech.

The company wasn’t impressed by IoT, Metaverse, Blockchain, 3D printing, but it states that GenAI is very different. And that it is.

It’s expected to evolve at light speed. It will continue to outperform the typical person. As such, the typical person must augment their capabilities now with generative AI to perform extraordinary tasks. This will lead to a productivity boom.

J.P. Morgan also anticipates a mass-scale white collar job realignment.

Generative AI Spending to Top $1 Trillion Over the Next 10 years

Bloomberg Intelligence recently reported that the generative AI market is poised to grow at a 42% compound annual growth rate from $40 billion in 2022 to $1.3 trillion by 2032. BI estimates that generative AI is poised to expand its impact from less than 1% to 10% market spending of total IT hardware, software services, ad spending, and gaming.

Learn GenerativeAI

OpenAI published its “6 Strategies for Getting Better Results.”

The v1.0 of the GenAI Prism infographic is now available. It serves as a mental model to augment your work toward exponential outcomes.

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