▲ 1224 ▼ 95% of Companies See ‘Zero Return’ on $30 Billion Generative AI Spend, MIT Report Finds (thedailyadda.com) submitted 1 year ago by kalkulat@lemmy.world to c/technology@lemmy.world 221 comments fedilink hide all child comments
[–] Glitchvid@lemmy.world 255 points 1 year ago (6 children) Imagine how much more they could've just paid employees. permalink fedilink source hideshow 6 child comments replies: [–] criss_cross@lemmy.world 72 points 1 year ago* (4 children) Nah. Profits are growing, but not as fast as they used to. Need more layoffs and cut salaries. That’ll make things really efficient. Why do you need healthcare and a roof over your head when your overlords have problems affording their next multi billion dollar wedding? permalink fedilink source parent hideshow 4 child comments replies: [–] Auntievenim@lemmy.world 10 points 1 year ago Someone somewhere is inventing a technology that will save thirty minutes on the production of my wares and when that day comes I will tower above my competitors as I exchange my products for a fraction less than theirs. They will tremble at my more efficient process as they stand unable to compete! permalink fedilink source parent [–] biofaust@lemmy.world 6 points 1 year ago (1 child) I really understand this is a reality, especially in the US, and that this is really happening, but is there really no one, even around the world, who is taking advantage of laid-off skilled workforce? Are they really all going to end up as pizza riders or worse, or are there companies making a long-term investment in workforce that could prove useful for different uses in the short AND long term? I am quite sure that's what Novo Nordisk is doing with their hire push here in Denmark, as long as the money lasts, but I would be surprised no one is doing it in the US itself. permalink fedilink source parent hideshow 1 child comment replies: [–] sobchak@programming.dev 5 points 1 year ago My theory is the money-people (VCs, hedge-fund mangers, and such) are heavily pushing for offshoring of software engineering teams to places where labor is cheap. Anecdotally, that's what I've seen personally; nearly every company I've interviewed with has had a few US developers leading large teams based in India. The big companies in the business domain I have the most experience with are exclusively hiring devs in India and a little bit in Eastern Europe. There's a huge oversupply of computer science grads in India, so many are so desperate they're willing to work for almost nothing just to get something on their resume and hopefully get a good job later. I saw one Indian grad online saying he had 2 internship offers, one offering $60 USD/month, and the other $30/month. Heard offshore recruitment services and Global Capability Centers are booming right now. permalink fedilink source parent [–] Korhaka@sopuli.xyz 3 points 1 year ago We had that recently. 10% redundant and pay freeze because we were not profitable enough. Guess what, morale tanked and they only slightly improved it by giving everyone +10 days holiday. permalink fedilink source parent [–] gravitas_deficiency@sh.itjust.works 8 points 1 year ago You misspelled “shares they could have bought back” permalink fedilink source parent
[–] criss_cross@lemmy.world 72 points 1 year ago* (4 children) Nah. Profits are growing, but not as fast as they used to. Need more layoffs and cut salaries. That’ll make things really efficient. Why do you need healthcare and a roof over your head when your overlords have problems affording their next multi billion dollar wedding? permalink fedilink source parent hideshow 4 child comments replies: [–] Auntievenim@lemmy.world 10 points 1 year ago Someone somewhere is inventing a technology that will save thirty minutes on the production of my wares and when that day comes I will tower above my competitors as I exchange my products for a fraction less than theirs. They will tremble at my more efficient process as they stand unable to compete! permalink fedilink source parent [–] biofaust@lemmy.world 6 points 1 year ago (1 child) I really understand this is a reality, especially in the US, and that this is really happening, but is there really no one, even around the world, who is taking advantage of laid-off skilled workforce? Are they really all going to end up as pizza riders or worse, or are there companies making a long-term investment in workforce that could prove useful for different uses in the short AND long term? I am quite sure that's what Novo Nordisk is doing with their hire push here in Denmark, as long as the money lasts, but I would be surprised no one is doing it in the US itself. permalink fedilink source parent hideshow 1 child comment replies: [–] sobchak@programming.dev 5 points 1 year ago My theory is the money-people (VCs, hedge-fund mangers, and such) are heavily pushing for offshoring of software engineering teams to places where labor is cheap. Anecdotally, that's what I've seen personally; nearly every company I've interviewed with has had a few US developers leading large teams based in India. The big companies in the business domain I have the most experience with are exclusively hiring devs in India and a little bit in Eastern Europe. There's a huge oversupply of computer science grads in India, so many are so desperate they're willing to work for almost nothing just to get something on their resume and hopefully get a good job later. I saw one Indian grad online saying he had 2 internship offers, one offering $60 USD/month, and the other $30/month. Heard offshore recruitment services and Global Capability Centers are booming right now. permalink fedilink source parent [–] Korhaka@sopuli.xyz 3 points 1 year ago We had that recently. 10% redundant and pay freeze because we were not profitable enough. Guess what, morale tanked and they only slightly improved it by giving everyone +10 days holiday. permalink fedilink source parent
[–] Auntievenim@lemmy.world 10 points 1 year ago Someone somewhere is inventing a technology that will save thirty minutes on the production of my wares and when that day comes I will tower above my competitors as I exchange my products for a fraction less than theirs. They will tremble at my more efficient process as they stand unable to compete! permalink fedilink source parent
[–] biofaust@lemmy.world 6 points 1 year ago (1 child) I really understand this is a reality, especially in the US, and that this is really happening, but is there really no one, even around the world, who is taking advantage of laid-off skilled workforce? Are they really all going to end up as pizza riders or worse, or are there companies making a long-term investment in workforce that could prove useful for different uses in the short AND long term? I am quite sure that's what Novo Nordisk is doing with their hire push here in Denmark, as long as the money lasts, but I would be surprised no one is doing it in the US itself. permalink fedilink source parent hideshow 1 child comment replies: [–] sobchak@programming.dev 5 points 1 year ago My theory is the money-people (VCs, hedge-fund mangers, and such) are heavily pushing for offshoring of software engineering teams to places where labor is cheap. Anecdotally, that's what I've seen personally; nearly every company I've interviewed with has had a few US developers leading large teams based in India. The big companies in the business domain I have the most experience with are exclusively hiring devs in India and a little bit in Eastern Europe. There's a huge oversupply of computer science grads in India, so many are so desperate they're willing to work for almost nothing just to get something on their resume and hopefully get a good job later. I saw one Indian grad online saying he had 2 internship offers, one offering $60 USD/month, and the other $30/month. Heard offshore recruitment services and Global Capability Centers are booming right now. permalink fedilink source parent
[–] sobchak@programming.dev 5 points 1 year ago My theory is the money-people (VCs, hedge-fund mangers, and such) are heavily pushing for offshoring of software engineering teams to places where labor is cheap. Anecdotally, that's what I've seen personally; nearly every company I've interviewed with has had a few US developers leading large teams based in India. The big companies in the business domain I have the most experience with are exclusively hiring devs in India and a little bit in Eastern Europe. There's a huge oversupply of computer science grads in India, so many are so desperate they're willing to work for almost nothing just to get something on their resume and hopefully get a good job later. I saw one Indian grad online saying he had 2 internship offers, one offering $60 USD/month, and the other $30/month. Heard offshore recruitment services and Global Capability Centers are booming right now. permalink fedilink source parent
[–] Korhaka@sopuli.xyz 3 points 1 year ago We had that recently. 10% redundant and pay freeze because we were not profitable enough. Guess what, morale tanked and they only slightly improved it by giving everyone +10 days holiday. permalink fedilink source parent
[–] gravitas_deficiency@sh.itjust.works 8 points 1 year ago You misspelled “shares they could have bought back” permalink fedilink source parent