Analysis

White-collar jobs tumble, but shares soar as investors back AI future

Australian staff are likely to make up some of the 8000 jobs software giant SAP says will be affected by an AI-driven global restructure, as its shares hit a record.

Paul SmithTechnology editor

Jan 25, 2024 – 2.26pm

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The numbers are eye-popping. It’s a boom time to be a big tech company (and investor) on the fast train to the AI era, but it won’t feel that way to the workers shovelling the coal into the engines.

German software giant SAP is the latest to trot out the myth that AI advances mean job changes rather than sackings, with a euphemism-heavy announcement that it is planning to “execute a company-wide restructuring program” this year.

Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy.