Employers who laid off workers citing AI are already starting to regret it
Key takeaways
- Livestream Menu Make Itselect USAINTLLivestream Search quotes, news & videos Livestream Watchlist SIGN INCreate free account Markets Business Investing Tech Politics Video Watchlist Investing Club PROLivestream Menu
- Automaker Ford is one of the latest companies to reverse course.
- Other companies that have walked back their hiring plans to focus more on human capital include Commonwealth Bank of Australia and software giant IBM.
Livestream Menu Make Itselect USAINTLLivestream Search quotes, news & videos Livestream Watchlist SIGN INCreate free account Markets Business Investing Tech Politics Video Watchlist Investing Club PROLivestream Menu
Companies are rapidly changing their minds that artificial intelligence can "do it all" by rehiring employees to propel their businesses forward, as investors fret over the longevity of the ongoing AI boom happening in the financial markets.
Automaker Ford is one of the latest companies to reverse course. It is reportedly re-employing hundreds of experienced human engineers to work on quality issues automated systems couldn't address. "Artificial intelligence is a fantastic tool, but it's only as good as the information you use to train it," Charles Poon, Ford's vice president of vehicle hardware engineering, told the media.