As apocalyptic warnings for the job-killing potential of AI mount, here comes a test for Wall Street.
Verint Systems, a $1.2 billion maker of software for call centers, has hired bankers to seek a buyer, according to people familiar with the matter. The process will give an early indication ofAI’s disruption to long-established industries — why sit on hold in a world where personal AI agents can negotiate refunds and flight changes? And importantly for companies, why employ thousands of humans to answer those calls?
Verint’s stock is down about 25% year-to-date, despite efforts to position itself to the market as an AI-forward company. It did not immediately return a request for comment.
The Philippines, also dubbed as “the world’s call center” for the number of jobs in the field outsourced there, is already feeling the impact of AI automation, in a “preview” of the future of the white-collar industry around the world, Bloomberg reported.
Amazon will soon deploy as many robots as humans in its assembly and shipping lines, The Wall Street Journal reports.
The long-term effect of jobs being replaced by AI could mean lower college enrollments and the cropping up of trade schools that teach students how to use the technology, Andrew Reece, chief AI scientist at career coaching platform BetterUp, told Semafor’s Rachyl Jones.