I tried a little experiment with our friend Chat GPT the other day. You can provide Chat GPT with your resume and it will reformat it and write an executive summary if you ask. You can also have it write a cover letter based on your experience.
It did a nice job rewriting and reformatting my resume and even created a rather flattering executive summary of me based on my resume.
But there’s no reason to stop at revising your resume. You can also have Chat GPT create a tailored cover letter based on your experience after it’s reviewed your resume. I discovered this on my own after a bit of experimenting.
But again, you can actually go further. I saw a post on social media where someone had Chat GPT create a cover letter tailored not just to the person and their experience, but to their target job. They simply pasted in the job description and required skillset and some information about the company and then Chat GPT wrote the cover letter highlighting how the persons job experience was relevant to what is needed at the new job. It peppered the cover letter with why the candidate would want to work there based on information about the company fed to it. I think this should change the game of the job search in ways we might not anticipate. For early adopters, it’s a nice tool to have at your disposal the next time you get fired.
Tech Layoffs continue.
Speaking of getting fired, it seems tech layoffs are in full force. Since the start of 2023 tech workers have been getting laid off in big waves. Here are some of the layoff counts according to the Wall Street Journal:
Meta (commonly known as Facebook still) 11,000
Salesforce nearly 10% of their 80,000 headcount staff.
It’s interesting to think how this is going to change the job market and economy. But let’s pivot back to Chat GPT to take a look at what artificial intelligence says about what big tech layoffs might do to the economy. Do your thing Chat GPT:
Below is the full text of what GPT generated with the request:
The tech industry has been a key driver of economic growth in many countries worldwide. Companies like Amazon, Facebook, and Google have created millions of jobs, and have been at the forefront of innovation in their respective fields. However, the tech industry is not immune to the effects of an economic downturn, and significant layoffs in this sector can have a significant impact on the job market and wider economy. One of the immediate effects of layoffs in the tech industry is the loss of high-paying jobs. Tech jobs are typically well-paying and offer a range of benefits, including stock options, health insurance, and retirement plans. When these jobs are lost, individuals and families may struggle to make ends meet. This can lead to a decrease in consumer spending, which can have a ripple effect on the wider economy. For example, if a significant number of tech workers are laid off in a particular city or region, local businesses may see a decrease in sales as these individuals cut back on their spending. This, in turn, can lead to layoffs in other industries, as businesses struggle to maintain profitability. In addition to the loss of jobs, layoffs in the tech industry can also have an impact on innovation. Companies like Amazon, Facebook, and Google are known for their groundbreaking work in fields like artificial intelligence, e-commerce, and social media. When these companies experience layoffs, they may be forced to cut back on research and development, which can slow down innovation and limit the introduction of new products and services. This can have a negative impact on the wider economy, as innovation is often a key driver of economic growth. Furthermore, layoffs in the tech industry can have a ripple effect on other industries that rely on tech companies. For example, many businesses now rely on cloud computing services provided by companies like Amazon Web Services and Google Cloud Platform. If these companies experience significant layoffs, it may impact their ability to provide reliable services to their customers. This, in turn, can have a negative impact on other businesses that rely on these services, such as online retailers, streaming services, and social media platforms. It is worth noting that layoffs in the tech industry can also have a positive impact on some sectors. For example, if a large number of tech workers are laid off in a particular city or region, it may create an influx of highly skilled workers looking for new opportunities. This can be a boon for industries that are experiencing a shortage of skilled workers, such as healthcare or manufacturing. However, the benefits of this influx may be offset by the negative impact of layoffs on other industries. In conclusion, significant layoffs in the tech industry can have a wide-ranging impact on the job market and economy. They can lead to a loss of high-paying jobs, a decrease in innovation, and a ripple effect on other industries that rely on tech companies. While there may be some short-term benefits to sectors that experience an influx of skilled workers, the negative impacts of layoffs are likely to outweigh any positives in the long run. As such, it is important for policymakers and business leaders to take steps to mitigate the impact of tech industry layoffs on the wider economy.
Should we all end up fired from our jobs replaced by AI, maybe it won’t be that bad. We can have AI write software to help run our own businesses. Below is what it generated when I toyed with my idea of creating software to help rental real estate owners prepare their Schedule E taxes.