In a recent interview at the Semafor World Economy summit, Blake Lawit, LinkedIn’s chief global affairs and legal officer, revealed that the professional networking platform has observed a 20% decline in hiring since 2022. However, Lawit dismissed claims that artificial intelligence (AI) is responsible for this downturn.
Utilising LinkedIn’s extensive economic graph, which consists of over a billion members—including companies, job listings, and skills—Lawit stated that the platform is in a unique position to evaluate current labour market trends. He expressed confidence that AI has not yet made a significant impact on job availability, despite widespread speculation about its effects on various sectors, including customer support and marketing.
Lawit indicated that the primary factor behind the hiring slowdown is likely linked to increasing interest rates rather than AI technologies. He added that while hiring rates have fallen, they are not declining disproportionately for younger job seekers compared to mid-career professionals.
While reassured that AI hasn’t yet caused widespread job displacement, Lawit did not dismiss the potential for future changes. He highlighted that the skill requirements for jobs are evolving rapidly; over the last few years, these requirements have shifted by 25%, and LinkedIn predicts a staggering change of 70% by 2030 due to advancements in AI.
This suggests that even for those who remain in their current positions, the nature of their work is subject to transformation. Lawit emphasised the importance of adaptability, noting, “So, even if you’re not changing jobs, your job’s changing on you.”
Overall, while the immediate effects of AI on employment seem minimal according to LinkedIn’s current data, Lawit’s warning draws attention to the imperative need for continued education and skill development in an evolving job market.
Fanpage: TechArena.au
Watch more about AI – Artificial Intelligence
