Silicon Valley is renowned for the continuous churn of its job market. As the layoff announcements at top tech giants such as Amazon, Meta and Google's parent company Alphabet continue to dominate the headlines, the repercussions on the global tech landscape shouldn’t be underestimated.
In conversation with Bloomberg’s Jon Erlichman, longtime tech expert Bruce Croxon points out how these times of downturn present a unique opportunity for Canadian companies. Typically in a talent war with Silicon Valley, both private and public Canadian companies have struggled to attract top talent. The most recent news of major tech layoffs in the US might finally open doors for Canadian based firms to acquire the expertise and workers they need.
The artificial Intelligence hype is real and it’s everywhere. We think about it like the early days of the internet, everyone wants to jump on it but aren’t quite sure how to.
From customer service to copywriting, we’re seeing companies attempt to integrate AI into their existing business models. In executive search specifically, legacy firms are using the tech to enhance their current processes. From discovering candidates to writing job descriptions, the implementation of the tech is making existing operations more efficient, not creating entirely new workflows.
And while the news of AI’s impact on the workforce has overwhelmingly focused on jobs being replaced by the evolving tech, there are also new opportunities for those becoming experts in the space. From energy to banking and crypto, executives are looking to incorporate AI strategies into their business plans and need the expert talent to do so. The real value these budding experts can add is finding ways to incorporate the tech into business models that results in savings of time and money.
Regardless of sector, companies need to be careful of falling into the hype and prematurely claiming to adopt AI technologies without being able to clearly understand or explain their impact to consumers.
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