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for specifics on what to watch we joint we are joined by jason grier of greer consulting founder and president is with us this morning jason thanks for being here i i wrote this down as my top theme for twenty twenty six for actually i wrote it down for myself i was just
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wondering what i was thinking about next year and and i said well either this thing continues in the AI boom and the market gets very excited and maybe it turns its interest to the users of AI or you have the downside risk that whole thing ends up being not what we expected and
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we lose a lot of jobs because of it so tell me what i should think about all this jason
Jason Greer (Founder & President) 00:37.750
well you should consider when you think about official intelligence look at it from this perspective that the future is now artificial intelligence is legitimately embedded in everything we do from your cell phones to even the way that schools are preparing their students for
Jason Greer (Founder & President) 00:50.630
what life is going to look like when they actually graduate i think we're going to see in the market we're going to see you know when you had amazon we have microsoft who announced layoffs last year or this year right you're going to see sort of the mid sized markets midsize
Jason Greer (Founder & President) 01:04.510
jobs that are going to be eventually let go but i think overall what companies are looking at is can we afford AI and also what is AI going to do for us not in twenty twenty six but also twenty twenty seven and twenty twenty eight
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we have a list up right now of tech layoffs and we have a large number at microsoft a large number at amazon but there was something that we called AI washing where they basically said they were AI layoffs but when you dug a little deeper they weren't necessarily AI layoffs what
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what's the reality here jason are companies laying off people because they're instituting AI or are they laying off people then calling it AI because they don't want to admit to weaknesses
Jason Greer (Founder & President) 01:47.240
i hate to take people behind the cover i'm going to take you behind the cover because i'm having these conversations behind closed doors and here's what it looks like AI for a lot of companies is just really good window washing because what's really happening behind the scenes
Jason Greer (Founder & President) 02:00.190
is people are understanding that we have a bunch of talent that unfortunately the market is going to reward us for laying people off but on the other side of that is we lay folks off we say that it's because of artificial intelligence and then we rehire you for half of what we
Jason Greer (Founder & President) 02:15.950
paid you so it's one of those things that artificial intelligence some sectors let's be real some sectors people are laying people off because of artificial intelligence and automation because that's the reality but on the other side it's you know business is not you know people
Jason Greer (Founder & President) 02:31.550
are not in business because they just want to keep people people are in business in order to move product to make money for their shareholders and one of the best way to make money for the shareholders is to do what the market rewards and that's to lay people off unfortunately
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in the in the industries that i cover i mean we're seeing the disruption in travel and a lot of skepticism about whether you know online travel agents are going to be put out of business by chatgpt deciding where you should go and what you should do i have seen no big disruptor
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than in the insurance industry where AI can go in and do so much of the underwriting the risk evaluation claims and the administrative tasks and in fact we heard chubb saying they plan to lay off twenty percent of the workforce over the next three years or so as they start to
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incorporate more and more technology what do you do with all those people who lose their jobs i mean at some point what's if you're an insurance agent or a claims adjuster where else can you go and work what kind of reskilling can you get that's
Jason Greer (Founder & President) 03:38.230
the biggest challenge that we're seeing you know you have stanford university that just announced that and i don't pretend to be a tech person so please understand and please forgive me if i butcher these terms but you have students who are graduating who could do code and you
Jason Greer (Founder & President) 03:53.310
know they were the people going to amazon they were the people going to microsoft three years ago making a bunch of money but now what they're finding is that those jobs are essentially being done by AI and there's really no need for them i think what happens in this is becomes
Jason Greer (Founder & President) 04:06.630
a generational perspective if you're young what a stanford university is doing is that they're actively encouraging their their students stay an additional year stay an additional two years get your master 's degree retool your skill set so that you're ready to go into the
Jason Greer (Founder & President) 04:21.870
market if you happen to be look i'm fifty one years old so i'm looking at a world in which that looks a lot different today than it did when i graduated from college in nineteen ninety six so i think it's one of those things that if you're an older employee you have to take a
Jason Greer (Founder & President) 04:34.430
step back and ask what do i think the market is going to reward not today but