'You shouldn't worry as much about AI taking your job as you should worry about someone who's very good using AI taking your job': Cisco CEO says effects of AI will cause "carnage" in the jobs market

Cisco CEO Chuck Robbins has raised significant concerns about the impact of AI on the labor market, predicting "carnage" as many roles are eliminated or reshaped. Drawing parallels to the Dotcom bubble, Robbins warns that while AI will create new opportunities, the inevitable shakeout could leave many companies struggling, much like Cisco did following the internet boom in the early 2000s. He emphasizes that workers should be more concerned about competition from those adept at using AI, particularly in areas like customer service, where job displacement is expected to be most pronounced.

Similarly, IMF Managing Director Kristalina Georgieva echoed these sentiments at the World Economic Forum, cautioning that AI's effects on the workforce will be profound and rapid, potentially like a tsunami that many businesses and countries are unprepared for. Despite concerns over AI-induced job losses, a UK government report highlights the complexity of linking redundancies directly to the technology. Therefore, as the landscape evolves, it is crucial for workers to invest in upskilling themselves to remain competitive in an increasingly AI-driven job market.