As more and more firms integrate artificial intelligence into their processes, there has been a growing temptation for companies to reduce headcounts in favour of automation.
Fintech unicorn Klarna last year announced it would be eliminating over 1,000 roles, transferring responsibility of their duties to bots.
Popular language learning platform Duolingo similarly declared much of the work done by humans, typically contractors, will now be done by AI agents.
The promise of cutting staff costs without a drop in productivity may sound enticing to businesses weathering the global economic storm, but for Payhawk chief executive Hristo Borisov, AI-led downsizing simply betrays a lack of innovation.
“For those companies, they don’t see an innovation path on the forefront,” the fintech boss told UKTN....