KRON (SAN FRANCISCO) – It seems like a IT companies announces layoffs every other day. Thoughts of doom and gloom have been fueled by it for more than a year, yet analysts agree with a well-known Bay Area CEO who claims AI is driving a boom.
Layoffs at Cisco, PayPal, eBay, Google, and Salesforce have been announced since the beginning of 2024, suggesting that the hundreds of thousands of tech jobs lost last year are still being lost.
However, Marc Benioff, the CEO of Salesforce, stated on social media on Monday that “San Francisco is once again experiencing a tech revival.” With artificial intelligence seeing a growth in the city, investors and entrepreneurs are returning in droves.
Why Bay Area IT Companies may experience a hiring surge in the near future
“What Benioff is saying is true,” said Tim Bajarin, a tech analyst. The need for new engineering talent and positions is currently very high, particularly for programmers and engineers with experience working with artificial intelligence.
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Bajarin has 45 years of industry experience. He claims that fears about inflation and overhiring to fulfil demand during COVID are to blame for the layoffs that have occurred.
According to Bajarin, as technology advances from one phase to the next—from PCs to social media, smartphones, and now AI—booms and busts occur frequently. However, he anticipates hiring at a higher rate than in the previous five years.
Consequently, he said, “I believe there will be a great deal of interest in IT companies hiring engineering expertise, marketing talent, and people who understand how to apply artificial intelligence. have the skills at every corporation, even though we’ll still have hiring at the tech level in the valley.”
