Is AI eating away IT jobs? Zoho’s Sridhar Vembu blames ‘steep rise in server and memory prices’ for lack of jobs

Zoho founder Sridhar Vembu subtly addressed the concerning issue of massive reallocation of capital towards AI, away from IT industry. Suggesting that artificial intelligence and data center infrastructure is directly slowing traditional hiring and transforming job structures across the IT sector, the business magnate alleged that the core challenge for the nation is to create jobs for massive cohort of youth in an uncertain global landscape.

Revealing how investments in AI and its data centres is eating up IT industry jobs in a post on X, he stated, “Sadly, the IT industry, including Zoho, have not created many jobs in recent years.