IBM's CEO Arvind Krishna has put a pause on hiring and unveiled plans to replace nearly 8,000 jobs with artificial intelligence (AI), starting with back-office functions like human resources. The company has been opening positions for AI-related roles to facilitate this transition. Over the next few years, up to 30% of non-customer-facing roles could be taken over by machines, reflecting the increasing use of automation and AI in various sectors. This aligns with a larger trend in the tech industry where major players like Meta Platforms, Amazon, Twitter, and Microsoft have also downsized due to automation.

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Despite concerns about job displacement, Krishna remains optimistic about AI's ability to optimize tasks in finance, accounting, and HR, potentially adding $16 trillion to the global economy by 2030. However, a report from Goldman Sachs economists highlights that around 300 million full-time jobs globally might be affected by AI's progress, with more advanced economies being hit harder. This underscores the rapid transformation AI is bringing to the workforce and its broader economic implications.

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