Tech Giants Embrace AI, Leading to Job Cuts: Efficiency Gains or Unemployment Crisis?

Tech giants like SAP, Amazon, and Salesforce are aggressively adopting AI to boost efficiency and reduce costs. However, this trend is resulting in significant job cuts. SAP's CFO anticipates fewer engineers will be needed due to automation; the CEO estimates that 60-70% of jobs could be digitized. Amazon's CEO also stated that AI will lead to a reduction in the company's overall workforce. While some new roles are emerging, low-wage workers are expected to be disproportionately affected. Is this AI-driven efficiency gain paving the way for a larger unemployment crisis?