CEO of AI Company Says Gen Z Needs to Get Ready for 30 Percent Unemployment [Yahoo! Finance]
ServiceNow, Inc. (NOW)
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Source: Yahoo! Finance
Speaking to CNBC ‘s “ Squawk on the Street ” panel, the AI software executive laid out an apocalyptic employment future for Gen Z in which nearly one in every three people will soon be unemployed. “I think it's very natural to be concerned about jobs. I think young people coming out of university today [are experiencing] 9 percent unemployment,” McDermott told CNBC . “I think it could easily go into the mid-30s in the next couple of years.” “So much of the work is going to be done by agents, so it's going to be challenging for young people to differentiate themselves in the corporate environment,” he said. The CEO isn't exactly a neutral party as he stokes fears about AI. ServiceNow's software-as-a-service model has struggled on the stock market in recent months, lagging due to investor excitement around AI agents. The company is increasingly moving its eggs from software into the AI basket, as evidenced by its “strategic collaboration to power agentic AI experiences” with OpenA
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