Over the last three years, companies worldwide have invested between 30 and 40 billion dollars into generative artificial intelligence projects. Yet most of these efforts have brought no real business…
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.
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.
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.
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.