How AI is beginning to wreak havoc in the jobs market

On this week’s episode of Inside Business, we look at the role of AI in the hiring and firing of workers.

Host Ciarán Hancock is joined on the podcast by Ciara O’Brien of the Irish Times to discuss why Amazon recently announced 14,000 job cuts globally as it seeks to trim expenses. Is this being driven solely by AI?

Well, in an update to staff in June, Amazon chief executive Andy Jassy stated the company would reduce jobs in some areas while it hired in others. And more AI would mean fewer corporate staff at Amazon, with the slack being picked up by generative AI and high-tech agents.

Separately, we have new research from hiring platform Greenhouse which suggests that AI has created a ‘doom loop’ between applicants and those who are hiring. Irish Times Work Correspondent Emmet Malone explains the issue, along with the new phenomenon of fake job postings.

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Plus, Ciarán is joined in studio by Darryl Byrne, Chief Executive of Irish stock exchange operator Euronext Dublin, to discuss the future of the market here and a proposal he has put forward to introduce a future-focused SIA (Savings Investment Account).

Produced by John Casey with JJ Vernon on sound.