Zoho CEO Sridhar Vembu Slams Big Tech, Says AI Is Giving No Gains

We all know that the global tech industry has been forcing a narrative that AI is the only thing that is positive in the universe. However, not all tech leaders think the same way and the last example is of Zoho CEO Sridhar Vembu. He has been constantly and aggressively criticised the current hype of AI on X, stating that the actual productivity gains remain limited and firms are using AI as a convenient explanation for layoffs that are really tied to economic pressure and investor expectations. He wrote, 'It does not help that companies are blaming job losses on AI, which is both convenient and as an added bonus, makes a company look visionary.' Vemue also said that layoffs are more closely connected to rising costs and economic pressure, instead

of AI suddenly becoming capable enough to replace humans. He also issued a warning that the economic picture globally is becoming weaker and that AI alone cannot solve those deeper problems.Activist Erin Brockovich Takes On US Big Tech's AI Data Centre BoomVembu said, 'The AI investment bubble has kept the US economy afloat, but that can only go on for so long.' And yes, he also said that previous technological revolutions also failed to prevent economic crises, indicating that the global financial crisis of 2008, despite the smartphone boom created by the iPhone era. He wrote, 'AI will not magically cure global imbalances.'Sridhar Vembu also questioned one of the biggest assumptions driving the artificial intelligence race, suggesting that AI tools will dramatically skyrocket software engineering productivity. Now, the Zoho CEO's comments are gaining traction due to the changing opinions around AI and how it is affecting workforce reduction. And these things come at a time when OpenAI CEO Sam Altman himself said, 'I’m delighted to be wrong about this.' According to Altman, society still values human interaction a lot more than many people in the tech industry originally assumed.