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00:01 Over 50% of tech layoffs are related to AI. 02:15 Transition from industry to teaching in Silicon Valley 06:40 Preparing for unstable tech jobs with multiple plans 08:50 AI hardware, data, algorithm crucial for success 13:02 AI reducing workforce and saving costs 15:08 AI leading to job cuts and new job opportunities 19:03 Considering the relevance of technologies like IoT, blockchain, and cloud computing in career decisions. 20:48 Importance of adaptability in tech careers 24:25 AI may impact software engineering careers 26:13 Being flexible and adaptable is key to job security. 29:42 Continuous learning is vital in the tech industry. 31:24 Importance of monitoring AI for harm prevention 35:01 Cybersecurity and AI in hotel infrastructure 36:51 AI's Role in Cybersecurity
AI did not cause 50% of the tech worker layoffs. High interest rates and Section 174 (in force as of 2022) of U.S. Tax code caused the massive layoffs in R&D. If anything, a change of platform would have normally created more jobs. AI only speeds up tech work a little (10-20%) at best. Here is the reason why Section 174 and High Interest rates caused the layoffs. Many tech companies were bloated, it's true. Twitter for example. But that is not the typical tech company. Section 174 forces companies to amortize ALL R&D wages and salaries, over 5 years. This isn't a problem for marginally profitable companies. But it is a huge problem for profitable companies. If 80% of the wages you pay, are taxed twice, then you are only getting about 10-15% organic return on that investment. Corporate taxes are 55%, Individual taxes (in U.S. tech) are 40%. Okay, when interest rates are low you can get around such idiotic tax rules, by borrowing. Interest is 100% expensive and you don't pay taxes on borrowed money. But now interest rates are high, borrowing at 7-10% will again be like a huge double tax. So CEOs decided it is better to just give the money back to stock holders and/or buy back stock. When you do that, the CEO gets big time credits that lead to big bonuses for the C-suite. AI is going to create a lot of tech jobs. It will destroy or change a lot of non-tech jobs. There will come a time, about 20 years from now, where we will have re-think the entire economy. And we probably should do that in increments, so the final outcome isn't a big shock and our political system is functioning in a Democratic manner. That's our big task.
@@jakeleone8944 Section 174 only took effect for tax years ending after 8th September 2023, thus why this idiotic tax policy did not cause job losses earlier. The massive layoffs began immediately following the tax filing deadline for corporations, which is when officers and directors became fully aware of the impact of this new tax regulation.
For software industry to survive they need some technology hype and buzz words. We are seeing this from many decades starting with mainframe, os, Java/.net, apps, rdbms/warehouse, big data, cloud and now it’s AI and in 5 to 10 years we will hear new things, we need go with the flow and support both old and new systems..
You forgot meta boom between 2019-2022 it was crazy all trade shows and events venues are filled with AR and VR glasses . It takes some years to know this projects are variable or not
OMG, you were in my University, I had no clue. I would have loved to come say Hi to you. Your videos have been an inspiration. Anyways, maybe next time!!!!
These layoffs started happening, in 2022, when section 174 of the tax code came in to affect. Section 174 requires all R&D salaries to be amortized over 5 years. This means that 80% of the salary, at profitable companies, is effectively double taxed. At the same time, interest rates rose, and made borrowing prohibitive. Normally, a company could just borraw the money, expense the interest, and pay back the loan over a few years, thus avoiding double taxation. So, instead they opted to move jobs to favorable tax climates (which include Germany apparently, that's where Google relocated their Python work, and the salaries are not siginificantly lowere there). Repealing Section 174 and getting inflation under control should have been a Biden administration priority. Instead, doing nothing about this for 4 years, might be just enough to cost Biden the election.
Tsunami is imminent in every sector including IT. Some people argue that there is so much clamour before every revolution but I tell you AI is different from previous revolutions because it has cognitive ability which is the main strength of human beings. Now you can imagine yourself.
Zero shot an LLM is replacing a single competent engineer. Any software engineer who has worked with an LLM can tell you these things can't write significant amounts of code for you. And any company that leans on them that way will quickly have a mess. They simply lack the percision to reliably perform tasks that require that. If chat-gpt 4o has shown us anything it's that we have probably seen the end of human customer service. It will 100% be chat bots.
That information is bad as often as it is good. No one who isn't an industry insider in the ranks of senior management of the technology companies really knows the product capabilities and potential for revenue generation.
Bhayya next time India anne par ISI Kolkata ka review kijiye it is at par with IIT if not more than them in placements and mathematical research and only jee toppers and math lover's go to this college
@@sengs.4838 Utilizing AI effectively is beyond the abilities of most people. It requires an extremely high level of human (mainly English) language skills. The prompts to generate something by using AI are easy to write. However, the prompts required to direct AI how to correct the output requires very specific and highly detailed inputs. Training AI is actually easier than using it effectively, for the material isn't produced by the trainers. Instead, the trainers who perform initial development of the LLMs provide the AI with curated material that is the original work of others. The far more advanced AI training is performed by the end users who teach it by providing feedback. This feedback includes clicking the "thumbs up" link to indicate the response meets requirements or, more importantly, learning from the additional user prompts which guide AI to produce correct output. However, the most valuable training for AI is gained by STEALING the proprietary information of its end users. Place a packet sniffer on the network and watch the original material being transmitted over the wire to the AI company for use in improving its LLMs.
I am a father of two children and the elder one is going for MS in Fall 24 . I am worried whether there will be enough opportunities in AI .. but I researched that even AI graduates are finding it difficult to
Pursuing an MS in AI is a good albeit expensive idea, but make sure that you have a passion for technology and your skills are suitable to meet industry demands; then there's definitely a good job waiting for you
Replacing humans with AI and robotics,were human will do job and earn money for their family,no AI for human jobs replacing,AI focus on health, society development
AI companies are going to be hit hard by Section 174 of the tax law that requires that R&D expenses be amortized over 5 years for costs incurred within these United States or over 15 years for costs incurred in foreign countries. This requires investors to have deep pockets to absorb the additional unplanned losses on FICTIONAL PROFITS. Section 174 is going to cause the bankruptcy of small businesses which perform R&D. Longer term, the reduced innovation will cause loss of global market share to businesses which are organized and existing in countries which are not penalizing R&D with tax policies which discourages investment in R&D. This decline in global market share will cause widespread job losses due to decreased competitiveness by American companies.
Many indian comments are like Sir i have completed my BA degree from college and is learning web development set example that soon this bubble will burst and AI will put more pressure on this bubble
very much like the Prof thinking ,but people at my workspace were behave like dead like they even said why u have to think so much :) as human if u are not critical thinker then what is the difference between human and 4 legged
So, Harnoor, should a student choose Computer and software engineering? Will it be as good as now? I am in highschool and need to make a wise choice. Please guide
Dont do what others are doing , im myself an etc engineer running a digital marketing agency, Future is Changing buddy money is on social media platforms....
Do something you love if you don’t love programming don’t do it! I get paid shit and I’m a senior developer so you gotta love it like I do and it will pay off because money won’t fulfill you if you hate your job!
You missed one part. Be adaptable and make a choice based off of what you love to do. Things always change. The hot industry today isn't necessarily hot tomorrow. What will be important is your ability to adapt what skills you have to the markets that exist. Remember also that 90% of finding a job is who you know not what you know. Get involved with campus organizations and meet people. Take at least one class in public speaking as it will help you to communicate better and teach you how to present yourself. Emotional IQ is actually a bigger indicator of how far you will go in life than your intelligence. It's not important what field you get your degree in. Most graduates don't end up working in the field they graduated in. College like all education isn't really about learning a set skill. It's about learning to think through problems and solve them. No one will care what your degree is after you leave. They want you to have one, but they don't care what it's in. You could train a monkey to do most of what we do. You cannot however teach him to think and innovate. That's what will always be in demand. Learn how to think and how to apply yourself to problems and you will always have work.
I have been working with AI very heavily for at least the last year. I am just now figuring out how to apply it to problems. We are at a point where we are going back to booming.
The guy is talking a lot but not saying too much. Lots of talk about AI but the self driven car is not here and he is selling(trying to sell) ton of BS about AI.
It is not AI or any bs like such. The main reason for layoffs in the ruined tech industry is the lack of sustainable products and hence stability. Lite ideas are easy come easy go. Compare any company in the US to its counterparts in Japan, Germany and others for the difference.
Thank you all for supporting this series! Stay tuned for more :)
Checkout KodeKloud & Get upto 45% Off bit.ly/4dpsE7y (includes AWS, GCP, Azure Subscriptions with the Pro Plan)
I love being young in this world! So many oprotunities to lose your job and depression! Thanks guys,
Remeber they can't take your job if don't have a job
😂
🤣🤣🤣🤣
@@TechFollower yes it is very sad.
@@No1SumOneTV it is only sad if you put a job on a pedestal.
Will AI takeaway BLOWJOB?
Watching from Sierra Leone, West Africa. Learnt so much from this Professor, and Singh asked the right question that are on my mind
00:01 Over 50% of tech layoffs are related to AI.
02:15 Transition from industry to teaching in Silicon Valley
06:40 Preparing for unstable tech jobs with multiple plans
08:50 AI hardware, data, algorithm crucial for success
13:02 AI reducing workforce and saving costs
15:08 AI leading to job cuts and new job opportunities
19:03 Considering the relevance of technologies like IoT, blockchain, and cloud computing in career decisions.
20:48 Importance of adaptability in tech careers
24:25 AI may impact software engineering careers
26:13 Being flexible and adaptable is key to job security.
29:42 Continuous learning is vital in the tech industry.
31:24 Importance of monitoring AI for harm prevention
35:01 Cybersecurity and AI in hotel infrastructure
36:51 AI's Role in Cybersecurity
Thanks
AI did not cause 50% of the tech worker layoffs. High interest rates and Section 174 (in force as of 2022) of U.S. Tax code caused the massive layoffs in R&D. If anything, a change of platform would have normally created more jobs. AI only speeds up tech work a little (10-20%) at best.
Here is the reason why Section 174 and High Interest rates caused the layoffs.
Many tech companies were bloated, it's true. Twitter for example. But that is not the typical tech company.
Section 174 forces companies to amortize ALL R&D wages and salaries, over 5 years. This isn't a problem for marginally profitable companies. But it is a huge problem for profitable companies. If 80% of the wages you pay, are taxed twice, then you are only getting about 10-15% organic return on that investment. Corporate taxes are 55%, Individual taxes (in U.S. tech) are 40%.
Okay, when interest rates are low you can get around such idiotic tax rules, by borrowing. Interest is 100% expensive and you don't pay taxes on borrowed money. But now interest rates are high, borrowing at 7-10% will again be like a huge double tax.
So CEOs decided it is better to just give the money back to stock holders and/or buy back stock. When you do that, the CEO gets big time credits that lead to big bonuses for the C-suite.
AI is going to create a lot of tech jobs. It will destroy or change a lot of non-tech jobs.
There will come a time, about 20 years from now, where we will have re-think the entire economy. And we probably should do that in increments, so the final outcome isn't a big shock and our political system is functioning in a Democratic manner. That's our big task.
@@jakeleone8944 Section 174 only took effect for tax years ending after 8th September 2023, thus why this idiotic tax policy did not cause job losses earlier. The massive layoffs began immediately following the tax filing deadline for corporations, which is when officers and directors became fully aware of the impact of this new tax regulation.
😊😊❤
Data is fuel, hardware is car and algorithm is the driver!! Wow
For software industry to survive they need some technology hype and buzz words. We are seeing this from many decades starting with mainframe, os, Java/.net, apps, rdbms/warehouse, big data, cloud and now it’s AI and in 5 to 10 years we will hear new things, we need go with the flow and support both old and new systems..
You forgot meta boom between 2019-2022 it was crazy all trade shows and events venues are filled with AR and VR glasses . It takes some years to know this projects are variable or not
Yup. I remember the whole Big Data and Hadoop craze in 2016.
Break though should get hype and buzz
Kindly recall your memory for Y2K boom....
A small c. Type city vijayawada(Ap)
Education companies like niit. Aptech etc...created so much hype...
OMG, you were in my University, I had no clue. I would have loved to come say Hi to you. Your videos have been an inspiration. Anyways, maybe next time!!!!
SJSU rocks Harnoor are you still working for Microsoft??
Finally an interview of a seasoned professional compared to all those half ass knowledge know it all guys interviewed before spweing garbage !
Great questions ! Great discussion! Love that the speaker was not interrupted !
These layoffs started happening, in 2022, when section 174 of the tax code came in to affect. Section 174 requires all R&D salaries to be amortized over 5 years. This means that 80% of the salary, at profitable companies, is effectively double taxed. At the same time, interest rates rose, and made borrowing prohibitive. Normally, a company could just borraw the money, expense the interest, and pay back the loan over a few years, thus avoiding double taxation.
So, instead they opted to move jobs to favorable tax climates (which include Germany apparently, that's where Google relocated their Python work, and the salaries are not siginificantly lowere there).
Repealing Section 174 and getting inflation under control should have been a Biden administration priority. Instead, doing nothing about this for 4 years, might be just enough to cost Biden the election.
Amazing explanation from the professor on AI trends, Sovereign AI, Casual AI, Objective AI, Collective AI
Tsunami is imminent in
every sector including IT.
Some people argue that there
is so much clamour before every
revolution but I tell you AI is
different from previous revolutions because it has
cognitive ability which is the
main strength of human beings.
Now you can imagine yourself.
Where is the self driven car? A lot of hype around AI.
@@mistralxl
If you have any misconception
about AI then ask questions
to it and you will be surprised.
@@bhavtosh5328 I just asked.
feels amazing seeing my professor on here! Ahmed Sir is very helpful and knowledgable.
Awesome seeing my professor on here! He was an amazing professor at CSUEB and SJSU!!!
Zero shot an LLM is replacing a single competent engineer. Any software engineer who has worked with an LLM can tell you these things can't write significant amounts of code for you. And any company that leans on them that way will quickly have a mess. They simply lack the percision to reliably perform tasks that require that.
If chat-gpt 4o has shown us anything it's that we have probably seen the end of human customer service. It will 100% be chat bots.
It won’t replace them but you’ll need a lot less of them as ai will make work more efficient
Welcome to the Bay Area, Harnoor! You are doing great work!
"Don't go and chase the trends and hype" best advice by prof
That information is bad as often as it is good. No one who isn't an industry insider in the ranks of senior management of the technology companies really knows the product capabilities and potential for revenue generation.
He meant cheap labor from India where these guys are from. Funny they never like talking about that tho wonder why
Who wants to talk about themselves
Bhayya next time India anne par ISI Kolkata ka review kijiye it is at par with IIT if not more than them in placements and mathematical research and only jee toppers and math lover's go to this college
This guy just confirmed what I thought about the tech layoffs being the result of AI, instead of the usual "overhiring during the pandemic" excuse.
Yes Sir!
It's happening.
And we are talking about millions of jobs here.
Interest rates are high, because of neo-cons. Companies are forced to go for AI.
what they need to take more serious than AI is go to a barber shop and get a decent haircut.
Interest rates are high because of foreign wars caused by neo-cons. That causes lay-offs.
And supported by establishment Democrats
@@rki7068 Bingo. Biden has to go. Trump 2024.
To be precise, the one to be in high demand in the future is the people who can utilize AI effectively in their jobs.
Utilize AI is the least and the easiest part , build up a project based on AI and customise AI is the biggest and hardest challenge
@@sengs.4838 Utilizing AI effectively is beyond the abilities of most people. It requires an extremely high level of human (mainly English) language skills. The prompts to generate something by using AI are easy to write. However, the prompts required to direct AI how to correct the output requires very specific and highly detailed inputs.
Training AI is actually easier than using it effectively, for the material isn't produced by the trainers. Instead, the trainers who perform initial development of the LLMs provide the AI with curated material that is the original work of others. The far more advanced AI training is performed by the end users who teach it by providing feedback. This feedback includes clicking the "thumbs up" link to indicate the response meets requirements or, more importantly, learning from the additional user prompts which guide AI to produce correct output.
However, the most valuable training for AI is gained by STEALING the proprietary information of its end users. Place a packet sniffer on the network and watch the original material being transmitted over the wire to the AI company for use in improving its LLMs.
I am a father of two children and the elder one is going for MS in Fall 24 . I am worried whether there will be enough opportunities in AI .. but I researched that even AI graduates are finding it difficult to
Future is AI you cannot compete with AI. Human intelligence will get defeated. PHD is waste of time. Become spiritual get wisdom this is the future.
Don't worry ai is so rn hot he'll get hired instantly
😂😂😂😂😂😂AI WILL REPLACE YOU@@saishashi9978
Pursuing an MS in AI is a good albeit expensive idea, but make sure that you have a passion for technology and your skills are suitable to meet industry demands; then there's definitely a good job waiting for you
Superb explanation by Sir Ahmad Banafa. Very informative podcast❤
Great discussion. Subscribed!
Great interview! Thank you for hosting!
Replacing humans with AI and robotics,were human will do job and earn money for their family,no AI for human jobs replacing,AI focus on health, society development
I use AI to learn AI. All my master's in AI and ML thesis and assignments were made using AI . 😅
AI companies are going to be hit hard by Section 174 of the tax law that requires that R&D expenses be amortized over 5 years for costs incurred within these United States or over 15 years for costs incurred in foreign countries. This requires investors to have deep pockets to absorb the additional unplanned losses on FICTIONAL PROFITS. Section 174 is going to cause the bankruptcy of small businesses which perform R&D.
Longer term, the reduced innovation will cause loss of global market share to businesses which are organized and existing in countries which are not penalizing R&D with tax policies which discourages investment in R&D. This decline in global market share will cause widespread job losses due to decreased competitiveness by American companies.
AI has to lay off government employees and officials lol
16:46 can someone elaborate? Is is like a seivice company that’s making AI driven products for their client company?
The main thing I got from this is that tech security jobs are going to boom for awhile. Especially with widespread use of AI.
I love you harnoor mama...!
Amazing talk, thanks.
Liked a lot useful video
That was an awesome discussion. Can you please do more podcasts like this?
People like Ahmed are (Data) connected by people like Harnoor ( Medium) to the people like us (Consumer).
thanks for the Amazing Insights .
So beautifully explained
NVIDIA’s CEO said it best - no need to learn to code now.
they're still hiring software engineers
@@krox477 soon they are gonna stop
He is just selling his products
he also said that metaverse would become ubiquitous
😂 no ulterior motive in that statement...
AI is a hype.. These people are clown🤡
NIce Discussion :)
Amazing and informative video, ty professor and Harnoor
Many indian comments are like
Sir i have completed my BA degree from college and is learning web development set example that soon this bubble will burst and AI will put more pressure on this bubble
Finally a good video amidst all the ai hype
I tired of these tech doomsday prophets. So over them.
I think it's called denial 😂😢
Probably your best post Harnoor.
Vgood information stay blessed
AI will be the pin to pop the humanity bubble. 😂
Well said Professor
They say this likes it new to the world, people have been losing their jobs to new tech for a few 1000 years.
I don't know why these professional geeks imparted emanating fumes against the AI technology, why so much hype!
NOT A DAY PASSES WITHOUT NEWS OF SOME IMPENDING DOOM. THESE GUYS CSLL THEMSELVES “EXPERTS”!
V good information
very informative.
So, helpful
very much like the Prof thinking ,but people at my workspace were behave like dead like they even said why u have to think so much :) as human if u are not critical thinker then what is the difference between human and 4 legged
ye ghode jaise haata hai
Also please clarify are peacefuls spoiling US university environment?
I am just trying to understand
Andhbhakts definitely are.
gobar bhakt from guntur can't understand it😀
What kind of question is that? Uneducated andhbhakts
@@RajKumar-tm5pdk2we real ID se aa
And remember no buddy can expert in AI.
So, Harnoor, should a student choose Computer and software engineering? Will it be as good as now? I am in highschool and need to make a wise choice. Please guide
Dont do what others are doing , im myself an etc engineer running a digital marketing agency,
Future is Changing buddy money is on social media platforms....
After you graduate there will be AGI everywhere , everything will be autonomous,,, no job is secure
Do something you love if you don’t love programming don’t do it! I get paid shit and I’m a senior developer so you gotta love it like I do and it will pay off because money won’t fulfill you if you hate your job!
You missed one part. Be adaptable and make a choice based off of what you love to do. Things always change. The hot industry today isn't necessarily hot tomorrow. What will be important is your ability to adapt what skills you have to the markets that exist. Remember also that 90% of finding a job is who you know not what you know. Get involved with campus organizations and meet people. Take at least one class in public speaking as it will help you to communicate better and teach you how to present yourself. Emotional IQ is actually a bigger indicator of how far you will go in life than your intelligence. It's not important what field you get your degree in. Most graduates don't end up working in the field they graduated in. College like all education isn't really about learning a set skill. It's about learning to think through problems and solve them. No one will care what your degree is after you leave. They want you to have one, but they don't care what it's in. You could train a monkey to do most of what we do. You cannot however teach him to think and innovate. That's what will always be in demand. Learn how to think and how to apply yourself to problems and you will always have work.
Thank you!
Looks like he find the God, 😅, keep it up AI 🤫
This podcast is really worthy.
Is this Fjer out of a job.
I have been working with AI very heavily for at least the last year. I am just now figuring out how to apply it to problems. We are at a point where we are going back to booming.
Hello friend, whats the best place to start learning?
👍🏻
10:41
Should i need to prepare for full stack software developer or not in 2024 ?
Yes❤
@@rajashekhar433 thanks sir
Exaggeration, AI is good at knowledge. Humans are good at skills.
The guy is talking a lot but not saying too much. Lots of talk about AI but the self driven car is not here and he is selling(trying to sell) ton of BS about AI.
Not convinced..prompt engineers, ethicists? How many of them will we need? It is going to be carnage even if you're a professor... no students needed!
We create a technology to fuck ourselves.
There's no us for the elite
We need AI tax, else, we have a societal problem. I am happy the hype had cooled down a bit.
Somebody missed the recent google event.
@@Mr.Coffee576 Was it that essential? I will check it out now.🤔
Change content
It is not AI or any bs like such. The main reason for layoffs in the ruined tech industry is the lack of sustainable products and hence stability. Lite ideas are easy come easy go. Compare any company in the US to its counterparts in Japan, Germany and others for the difference.
Nearly 40 minutes of fluff.
“Those that can,do. Those that can’t, teach.” He definitely fits the stereotype.
Mujhe kya mai to neet wala hu 😂😅
☠️ Neet Nikla 😂
In the real world these nerds got no idea, nobody losing their jobs boiz