The IT job industry has taken a hit in the past year as more companies rely on the growing AI trend.
The IT sector only grew 700 jobs last year, over 380 times smaller than the 267,000 jobs added in 2022, the Wall Street Journal reported.
The fall is most notable in the cybersecurity, telecommunications, and data science industries where the majority of the IT-related jobs were generated.
Also Read: AI Being Used More by Financial Institutions for Customer Processing
Why are There Lesser Jobs Added in 2023?
While 2022 has recorded an influx of jobs in a post-pandemic world, 2023 has seen more and more companies laid off workers due to supposed "slow growth" in the past financial quarters.
Amazon saw the most workers laid off across most of its departments with more than 27,000 employees displaced. It was followed by Meta, Google, and Microsoft.
Experts believe more layoffs are expected this year despite the cut-offs tapering down by the end of 2023, Crunchbase reported.
Other companies stormed the "slow growth" by limiting their open application slots for entry-level workers to leverage more on AI integration in their workplace.
Coincidentally, WSJ reported that wages for entry-level IT positions have grown 2% while chief information officers are valued 14% more due to high demand.
It is worth noting, however, that specific IT-related skills are needed rather than the general customer service jobs that became standard for new IT employees.
Related Article: How AI Reshaped Tech Industry in 2023, Explained
Future of IT Jobs in an AI Society
It remains uncertain how the fate of many human workers will fare in an industry becoming more reliant on automated employees.
One thing is for sure, however, that is market for generative AIs like ChatGPT will continue to grow this year, both inside and outside the US with the recovery of the chip industry.
Computer chips and semiconductors have previously hindered AI development for the past year as big tech companies are limited to the high price offers of distributors like Nvidia and AMD.
In the same manner, creative and art courses may experience higher demands in the future within the IT industry as testers for the early development stages of these AI models.
