Last Updated:
Specifically, SignalFire discovered that Big Tech companies reduced the hiring of new graduates by 25% in 2024 compared to 2023.
Study reveals stark reality of hiring drop in tech industry driven by AI.
Since the introduction of GenAI like ChatGPT, this technology has revolutionized modern life, altering how we work, communicate, gather information, and use resources. Experts caution that AI’s potential to disrupt every industry will significantly shift professional lives. This impact is already evident in some sectors, including tech industry. A recent study suggests a substantial decline in hiring within the tech industry due to GenAI applications.
Data from venture firm SignalFire reveals that major tech companies have drastically reduced their hiring of new college graduates, decreasing entry-level recruitment by over 50% since 2019, according to TechCrunch. SignalFire’s analysis shows that prior to the pandemic, graduates made up 15% of Big Tech hires, a figure that has now dropped to 7%.
Specifically, SignalFire discovered that Big Tech companies reduced the hiring of new graduates by 25% in 2024 compared to 2023.
Meanwhile, graduate recruitment at startups decreased by 11% compared to the previous year. Although SignalFire did not disclose the exact number of fewer hires, a spokesperson mentioned it was in the thousands.
While the adoption of new AI tools may not entirely explain the decrease in recent grad hiring, Asher Bantock, SignalFire’s head of research, says there is “convincing evidence” that AI is a significant contributing factor.
Entry-level jobs are particularly vulnerable to automation because they often involve routine, low-risk tasks that generative AI can efficiently perform.
Zuckerberg Reveals Plan Of AI To Handle Most Of Coding Work In 12-18 Months
META CEO Mark Zuckerberg has disclosed that artificial intelligence (AI) will handle most of the coding for his company’s Llama Project. He believes that within the next 12-18 months, AI will be capable of writing the majority of the code independently.
In a podcast with Dwarkesh Patel, Zuckerberg, 40, mentioned that AI is currently as proficient as an average skilled team member. He stated, “I think sometime in the next 12 to 18 months, we will reach the point where most of these codes will be written by AI.”
At present, AI can assist in auto-completing sections of code, but soon it will surpass even the best coders, he added.
- First Published:
