‘Is this the beginning of mass unemployment’: Dutch tech company embraces AI, cuts 300 jobs

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Menzies Research Centre’s Freya Leach discusses Dutch car navigation firm TomTom embracing artificial intelligence and cutting 300 jobs, around 10 per cent of its workforce.

“It does raise the question, is this the beginning of mass unemployment in white-collar jobs?” she said.

“Mass unemployment will lead to mass poverty, less demand in the economy, and overall shrinking.”

Ms Leach’s remarks come as Magellan co-founder Hamish Douglass has given a grim warning on AI, saying half the index could possibly “virtually collapse by 50, 60 or 70 per cent in share price in the next five to 10 years because businesses are so disrupted”.
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