The AI ​​industry is growing in a technological downturn

The Great Resignation What we see in 2022 is the economic trend. However, with the recent recession, many are concerned about the future of employment. Large, profitable technology companies have reported layoffs this year, and more layoffs are expected. But while this trend may seem pessimistic, the current one is very promising.

Many areas of technology, including artificial intelligence (AI), are expanding rapidly and seeking new perspectives. Times like these are stressful, but there are companies looking ahead and planning for expansion.

Expanding the technology industry through growth and employment.

While reports of reduced teams and lack of funding circulate, this is not true for artificial intelligence. As we’ve seen over the past few years, AI is an ongoing hotspot and the market is set to grow to $76.44 billion by 2025, with an accelerated growth rate of over 21% annually.

With the amazing tech talent around the world and the advancement of AI, there is no doubt that there are many opportunities for industrial workers. That’s true if companies start shifting to new industrial areas as they scale back hiring. This period is offering a great opportunity to expand AI. Some of the world’s biggest companies are already taking advantage of the transformative power that AI has delivered over the years, including search, ad targeting and recommendations.

As the technology evolves, new use cases open up opportunities for startups and Fortune 500 companies alike. It is no longer a good place, AI is developing at an incredible speed and bringing job opportunities to the table.

The transformative power of AI is profound, and we’ve seen a watershed moment in the last few months. The developments mean a seismic shift in technology – from traditional growth to something completely new, changing technology as we know it.

AI offers an opportunity in the midst of layoffs in other areas of technology

AI is the light at the end of the tunnel in technology right now. Companies including Meta no longer support money-losing projects; Instead, they are making room for growth in their AI research and VR labs. While the rest of the industry is shrinking, it is important to see how far AI has come and see the opportunities in this dynamic market. With the amazing technological talent around the world, individuals need to start shifting their focus to see what the AI ​​industry has to offer.

The future of the technology industry

We may not know what the future holds in terms of layoffs and the workforce, but based on past events and the insights of economists, it is likely that the tech market will change in the coming downturn. AI will undoubtedly change, but it will continue to make positive strides, including language translation, conversational AI, facial recognition, targeted advertising, and more.

It will be interesting to see how the tech industry emerges from the downturn. While there are some companies that are recession-proof, the recession can still affect them in some ways. On the other hand, some innovative and improved technologies will be tested in the next few months; We will see if they can withstand the decline and what comes next.

The sense of security that the tech industry once had is waning as workers lose faith in job security and stability. With some of the world’s biggest tech companies laying off workers, many are wondering what will happen after the recession hits.

Being optimistic in a growing industry

Currently, there is no shortage of funding in AI, but when choosing a funding partner, it is important to make sure that the partner accepts and supports the same long-term plans as the company, such as using advances in AI and being strategic when it comes to hiring plans.

Now more than ever, sticking to first principles and being sure of how we execute this vision is undoubtedly the right course of action. It is right to return revenue, people, customers and cost understanding to earlier and more realistic realities. While no industry can survive a recession, the tech industry is very flexible and has no problem adapting.

Nick Lins is the founder and CEO of Seamless.