Unlocking the Future: Oracle Insights on Careers in the Age of AI

Reflecting on one’s career choices can provoke a deep sense of reconsideration. Recently, a former high school classmate reached out to inquire if his daughter, who is keen on pursuing computer science engineering, is making a wise decision amid widespread discussions about AI’s influence. While not an expert on the future job market, I encouraged him to support his daughter’s aspirations, particularly given her academic excellence and passion for the field.

<h2 class="rich-title">AI-washing layoffs</h2>
<p>Recently, companies announcing layoffs have frequently attributed these actions to AI. Firms like Block, Atlassian, and Oracle have unique circumstances for their reductions, but the media narrative predominantly assigns AI as the culprit, often overshadowing significant factors like plummeting stock prices.</p>

<p>In one layoff scenario I closely observed, a CXO revealed a target for workforce reduction set by global headquarters. When asked about how many full-time employees could be laid off, the immediate response from VPs leaned towards reducing contractors instead. Once redirected to focus on full-time positions, names for potential layoffs were quickly suggested, with no discussion about AI's role in the decision. When this layoff story later broke in the news, it was framed with an AI narrative.</p>

<h2 class="rich-title">‘Lump of labour’ fallacy</h2>
<p>Intriguingly, the top ten AI companies, such as OpenAI, Anthropic, and Perplexity, have collectively hired 7,500 new employees in the past year. Despite the narrative suggesting a decline in software engineering jobs, new-age AI firms continue to expand their engineering teams. Salesforce CEO Marc Benioff emphasized that corporate layoffs arise from various factors, including cost overruns, financial commitments, and genuine AI-related adjustments, highlighting the error in treating these causes as a singular issue.</p>

<p>Marc Andreessen, co-founder of the venture capital firm Andreessen Horowitz, points out that many large corporations are overstaffed, with estimates ranging from 25% to 75% beyond their needs, largely due to excessive hiring during the pandemic. He attributes some layoffs to the misperception that there is a fixed amount of work available in an economy—often referred to as the ‘lump of labour’ fallacy—which mistakenly equates automation and increased efficiency with job losses.</p>

<h2 class="rich-title">Future tense</h2>
<p>Amidst geopolitical strife and advancements in AI, the technology sector is experiencing a notable shift. The historical trend of major tech firms hiring thousands of engineering students is dwindling due to macroeconomic factors and anticipated automation, which threatens entry-level positions. Nevertheless, India remains a prime player, with plans for 100 new global capability centers. However, as 250,000 computer science engineers graduate annually, opportunities in tech appear more limited. According to a Goldman Sachs analysis, workers displaced due to technological advancements have witnessed, on average, a 3% decline in real earnings compared to those who remained employed. Their earnings growth in the decade following job loss was also notably lower—10 percentage points worse than retained workers.</p>

<h2 class="rich-title">The reset?</h2>
<p>India, having exported nearly $300 billion in software services last year, has been a go-to destination for approximately 850,000 newly graduated engineers yearly. This demographic has typically gravitated towards IT roles due to lucrative salaries and the sector's consistent growth over the past three decades. However, the shift is palpable; with many experienced professionals facing layoffs, the landscape is changing. Today, job seeker resumes are increasingly complemented with AI skill sets, and leaders are urged to familiarize themselves with tools that streamline workflows. Distinguishing substantial expertise from superficial claims has become a challenge, as consulting firms promote the narrative that AI and humans together foster enhanced productivity.</p>

<p>Author Suzy Welch, in her book *Becoming You*, discusses the concept of ‘purpose’ as requiring an active endeavor to bridge the gap between one’s current existence and aspirational life. The hope remains that AI can catalyze transformative benefits rather than merely signify a decline in established practices.</p>

<p><i>(Kamal Karanth is the co-founder of Xpheno, a specialized staffing firm)</i></p>
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<p class="publish-time" id="end-of-article">Published on April 13, 2026</p>