2023-09-11 14:17:14.AIbase.1.2k
Intuit lays off over 700 in AI transition, CEO states: Technology is advancing too quickly, old-timers will eventually be eliminated
Intuit began its AI transition five years ago. In 2019, the CEO decisively laid off over 700 employees. Intuit spent a significant amount to acquire companies to obtain vast amounts of data for training AI models. Intuit believes that the progress of employee skills transformation training is too slow, leading to direct layoffs of older employees. Intuit aims to double customer savings by 2025 and increase the success rate of small and medium-sized enterprises by 20% by 2030. The Intuit CEO believes AI will eliminate companies that cling to outdated practices, demonstrating foresight.