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Meta to layoff 5% of its workforce
Tech giant Meta is intensifying its integration of artificial intelligence, and the whole world is watching on.
According to an internal memo, the company plans to cut 5% of its staff through performance-based terminations and hire new employees to fill these positions this year. Tech maverick Mark Zuckerberg is on the hunt for the best talent to bolster Meta’s position in the AI race.
This announcement could be one of many events leading up to a tentpole product that will radically change business and everyday life. In the coming years, Meta and other big tech companies will roll out new tools to boost efficiency and aid in high-level decision-making.
The foray into AI will be fast and intense, and before we know it, it will be difficult for us to exist without bots.
Follow the leader
Meta’s aggressive attitude toward AI progress has massive implications. For businesses, big or small, the time to integrate or develop their own AI technology is now. They must have a clear picture of how AI can generate greater value for their offerings.
They must know the tasks that can be automated. In the same light, their employees must be comfortable and competent with using AI in their daily tasks and long-term projects. New-age technology should not be seen as an enemy but as a tool that aids the accomplishment of higher-value work.
A company’s mission and vision, business model, recruitment initiatives, and service offerings must be revised in accordance with AI. Competencies must be developed to ensure any new AI product can be seamlessly integrated into the business.
Not moving fast enough
This grand overhaul must be completed in the next few years, or else they risk being left behind. While some firms from various industries have already made the AI switch, others are bogged down with mountains of administrative workloads.
Instead of learning more about AI, staff from different hierarchical levels are swamped with time-consuming tasks such as calendar management, document management, transcription, creating and maintaining spreadsheets, compiling reports, and more.
These are important chores, but at this critical juncture of the tech revolution, spending several hours a week on them isn’t ideal. Firms that are progressing well have made the wise decision to outsource their administrative work to an offshore workforce.
It has empowered them to move swiftly, assess their infrastructure capabilities, and make additional investments if necessary. While others are figuring out how to use the latest AI tools, firms that have reduced their staff’s administrative workloads have been constantly beefing up their AI workflows.
The question for your business
How is your business embracing AI?
