‘For the times, they are a-changin’ sang Bob Dylan in the 1960s. This is particularly apt today given four recent matters which, in the broadest sense, have IT at their core.
First, Meta’s CEO has testified for the first time before a jury to defend against accusations that Meta’s social media platforms harm children’s mental health, and that their platforms are designed to prioritise keeping users scrolling to maximise profits. The trial’s outcome could prove seismic. Second, ‘Epstein Data’ has triggered an inevitable media and political frenzy and repercussions for some individuals, but it has produced little so far that would stand up in a court of law. Nevertheless, ‘Epstein data’ is a reminder of the dangers of email, and that using services underpinned by IT always leaves a record somewhere. The third matter is the impact of AI-driven fears on the share prices of major IT services companies. Investors are anxious about the future demand for IT consulting/services. At the time of writing, the share prices of Accenture, Capgemini, CGI, Sopra Steria, Tata Consultancy Services, and Infosys have dropped by 42%, 36%, 36%, 32%, 28%, and 27%, respectively, over the last 12 months. The market is taking a sober look at the impact of AI.
And the fourth is the AI Impact Summit in Delhi, the largest ever global gathering of world leaders and tech bosses, which ended with 88 nations signing the ‘Delhi Declaration of AI Impact’. Some have called this the ‘Delhi Magna Carta’ to emphasise that it represents a milestone in global cooperation, and consensus about AI’s use for economic growth and social good. The Declaration, however, is not legally binding, and so calling it a Magna Carta is a political metaphor rather than a formal treaty. The Declaration’s a political statement of principles which are far from certain to be embedded into national/international laws, standards, and institutions. A hint about why it may ultimately have little influence is captured by a USA comment which is reported in the item here. The comment is that the USA will not accept ‘global governance of AI’. Why? Because it and China are locked in a structural competition over computational power, microchips, AI-enabled defence systems, and the control of global standards. It’s existential for both and the Declaration doesn’t change that.
Unsurprisingly today ‘For the times, they are a-changin’ is an even louder truth, both geopolitically and for IT services companies and their employees. Dario Amodel, CEO of Anthropic, foresees AI eliminating the jobs of many software engineers. It’s always been important for IT and tech companies to be fleet of foot and for IT people to keep their skills current. The Delhi Declaration highlights that this is more important than ever. With AI-driven transformation gathering pace, the market is showing that a rosy future for IT service companies, and their employees, is not guaranteed…
