The management consulting giant Accenture has laid off 11,000 people. The reason? It turns out that a smart chatbot can churn out meaningless waffle about “boiling the ocean” just as well as a recently hired MBA. Oracle has cut more than 20,000 jobs, as it discovered that Claude or ChatGPT could code as effectively as the quiet guy with glasses, while the legal giant Baker McKenzie is laying off as many as 1,000 people after figuring out that a machine could churn out a letter about “the aforementioned party of interest” as effectively as any of their junior lawyers.

America is getting both sides of a process of ‘creative destruction’

America is getting both sides of a process of ‘creative destruction’

Almost every day, another round of white collar professionals falls victim to the AI-driven jobs apocalypse. And yet, while it is real enough, there is a twist that not many people have yet noticed. America will survive it far better than its rivals, while Europe will be the real loser.

There is already a backlash against the number of jobs lost to AI. Only this week protestors stormed the offices of the ChatGPT lobbyists in Washington demanding that they “stop stealing our future.” And yet, it is easy to miss one simple point. It is impacting different continents in different ways. Torsten Slok, the chief economist at the investment giant Apollo, has started tracking the divergence between the French and American labour markets.

The differences are striking. France’s unemployment rate climbed to 8.3 percent in the second quarter of 2026,........

© The Spectator