😋AI is Nibbling the World

“Software is eating the world.” - Marc Andreessen

We are in a liminal period of AI’s adoption. It’s here, but not evenly distributed.

Think about Steven Spielberg’s 1975 Jaws. We know the shark is coming. But we’re probably four or five “duh-duh”’s away from blood in the water.

However, the tide has already started to shift.

• JP Morgan’s Jamie Dimon forbade the process of on-cycle recruiting, where new hires sign employment agreements for a second job before even starting the first (a common practice in banking).
• Other investment banks are lengthening analyst programs from two to three years, getting an additional year of value from the people they invested several months in training.

While these are small changes relative to what’s to come, they represent the fact that in the world of AI-enabled tools, one person can do the work of two. If that’s the case, there’s a surplus of labor with employers being price makers instead of price takers.

Luddites, get your pitchforks.