SUCCESS
AI Is Taking Jobs, But Not In The Way You Think—How Amazon, Google And Microsoft Are Prioritizing AI Investments
With the swift ascendancy of artificial intelligence, there is a looming fear that AI will replace jobs. Investment bank Goldman Sachs predicted in a 2023 report that the workforce in the United States and Europe would be upended, with 300 million jobs lost or diminished by this fast-growing technology.
In a recent survey conducted by ResumeBuilder, 37% of business leaders revealed they have already begun to replace staff with AI. Nearly half (44%) of the executive respondents stated they anticipate further jobs cuts in 2024 due to AI efficiency.
This year, a number of top companies have already enacted workforce reductions, while announcing plans to redirect their investments into generative AI and automation. The reallocation of resources to AI investments is a major way in which this emerging technology is impacting job security for white-collar professionals.
The Top Headlines For Jobs, Tech And The Stock Market
These headlines provide insights into the current state of the job market, hiring, layoffs, the stock market, economy and worker confidence.
Job Market
The job market continues to show strength, with the U.S. employers adding 353,000 jobs in January, far exceeding forecasts. Consumers are showing more positivity in the economy as 2024 begins, with improved expectations about falling inflation and interest rates, coupled with a strong labor market.
CEO Confidence About 2024: CEOs are gaining confidence about 2024 in hopes of lower rates, with a sense that inflation appears to be under control, and the expectation that the Federal Reserve will not likely need to raise interest rates in 2024. The Federal Reserve is debating when to lower rates, with an interview with Jerome H. Powell confirming a rate cut is coming, but not immediately.
The International Monetary Fund (IMF) has upgraded its global growth forecast, signaling a path to a soft landing for the global economy.
Blind Ambition Podcast
Bonnie Dilber, Manager, Business Recruiting at Zapier: Counter-Intuitive Tips to Get Hired
Bonnie Dilber leads the business recruiting team at Zapier, focusing on roles in the finance, sales, marketing, people, operations, support, legal and leadership teams. We dig into her untraditional background and why teachers might make the best recruiters and business leaders.
Bonnie also shares her hot takes and best tips about how to get hired at some of the leading companies, even in a tough job market. She explains that sometimes it's best to apply for jobs when others aren't, like around holidays or the end of the year. We also get her to reveal some "red flags," which you might want to look out for when reading a job description or talking to a recruiter to ensure that the opportunity doesn't turn out to be a bad one.
The 5 Most In-Demand Job Positions:
Customer-Facing Roles: Customer-facing roles continue to be in high demand across various industries, reflecting the ongoing need for professionals who can directly engage with clients and customers.
Healthcare and Medical Roles: The global staffing shortage in healthcare has led to a significant demand for various medical and healthcare professionals, including care specialists, surgical technicians, medical surgical nurses and sonographers.
Technology and IT Positions: In the technology sector, there is a high demand for roles such as database developers, software engineers, network/cloud engineers, and various other IT professionals. Businesses are focused on hiring for cloud, DevOps, digital transformation, security and privacy, development, AI, automation, system upgrades, and data integration and analytics.
Finance and Accounting Roles: There is a demand for tax preparers and other finance-related positions, reflecting the ongoing need for professionals with expertise in financial operations and tax preparation.
Administrative and Secretarial Positions: Secretary roles are also among the most in-demand, indicating a continued need for administrative support professionals across different industries.
Tech
The 10 Most In-Demand Tech Jobs For 2024 (With Salaries):
Database Developer: The average salary ranges from $107,500 to $130,500.
Software Engineer: The average salary ranges from $108,500 to $129,250.
Network/Cloud Engineer: The average salary ranges from $106,500 to $127,750.
Systems Security Manager: The average salary ranges from $137,250 to $198,500.
Network/Cloud Architect: The average salary ranges from $133,000 to $196,750.
Applications Architect: The average salary ranges from $134,750 to $195,500.
IT Director: The average salary ranges from $132,000 to $192,000.
ERP Integration Manager: The average salary ranges from $120,500 to $187,500.
Big Data Engineer: The average salary ranges from $122,000 to $174,250.
Data Security Analyst: The average salary ranges from $120,000 to $170,250.
The Stock Market
The S&P 500 rose Wednesday and edged closer to the 5,000 level for the first time, hitting a new intraday record as investors parsed through another slate of quarterly results that signaled a flourishing economy.
“It’s earnings driven, but it’s bleeding over into other companies that may not have announced,” said Kim Forrest, Bokeh Capital’s chief investment officer, of Wednesday’s moves. “They’re getting swept on the coattails. Some of what we’re experiencing this year is people don’t want to be left behind like they were last year.”
How To Get A Job In Tough Times: All The Advice You Need To Succeed From A Top Executive Recruiter
There’s an old saying, “Tough times make tough people.” In this book, Jack Kelly will help guide you every step of the way in your job search to ensure that you stay strong, resilient and positive, and get that great, new job.
