Big tech layoffs present promise for AI-focused startups, companies NBC Bay Area [Video]

Big technology companies like Salesforce and Google have recently announced layoffs due to artificial intelligence. However, it’s given AI-focused startups and companies the availability to poach those that are impacted.

According to the World Economic Forum, AI is expected to replace tens of millions of jobs over the next few years. But many like Jonathan Chu, the director of engineering at Rapid Robotics, said AI is the hottest area of job growth.

“New jobs are going to be created by the AI industry,” Chu said. “New jobs will be created to drive and support the AI industry. Jobs you couldn’t imagine before now exist because of AI technology that’s out there.”

Workers that possess those skills also have the upper hand in negotiations, according to Joint Ventures CEO Russell Hancock.

“If you can do those things, this is the town for you, you can name your price and ka-ching,” he …