Yating Sun’s Post

🚀 Intuit, the parent company of QuickBooks and TurboTax, is making a strong bet on artificial intelligence (AI). 💡 🔍 With the introduction of GenAI, Intuit is offering even more engaging customer experiences, increasing monetization potential, and improving efficiency in getting work done within the company. Intuit's future hires will focus on engineering, product, and customer service roles such as sales, customer success, and marketing. 🏭 However, the company will also shut down its plants in Edmonton, Ontario, and Boise, Idaho. 🛠️ Last month, Intuit launched its new AI-powered "revenue intelligence" technology, which uses always-on predictive and generative models to help marketers gain more business by recommending optimal times to target customers and generating personalized content. 🌐 The era of AI is one of the most significant technological shifts of our time, and companies like Intuit are leading the way in harnessing its enormous potential. #GenAI #Syntetica #LLMs #OpenAI #Gemini #Innovation #ChatGPT Link: https://lnkd.in/d9G4NErA

While many companies are talking the AI talk, few truly walk the walk. Intuit is leading the charge with AI 🚀 Their strategic investment in AI and Data over the years now sets the stage for the future of financial experiences. I'm excited to share that I've joined Intuit to lead Product Management for Intuit's Foundational Language Model, enabling AI-driven financial experiences that help solve tax, accounting, marketing, cash flow, and personal finance challenges. Joining Intuit isn't just about a new role, it's about shaping a new AI-driven future. Here's why👇 𝐈𝐧𝐭𝐮𝐢𝐭'𝐬 𝐀𝐈 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲: A decade of commitment to AI and data now fueling financial innovation. 𝐂𝐮𝐥𝐭𝐮𝐫𝐞 𝐚𝐧𝐝 𝐓𝐚𝐥𝐞𝐧𝐭: The talent density and open minded culture here are unparalleled. 𝐈𝐦𝐩𝐚𝐜𝐭𝐟𝐮𝐥 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐬: Quickbooks, TurboTax, MailChimp and Credit Karma truly help more than 100M individuals and SMBs to prosper worldwide. 𝐏𝐞𝐫𝐬𝐨𝐧𝐚𝐥 𝐏𝐚𝐬𝐬𝐢𝐨𝐧 𝐀𝐥𝐢𝐠𝐧𝐬: My passion for financial and marketing technology finds a home here. 𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐀𝐈 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧: Developing custom financial LLMs with unprecedented data depth is a game-changer in fintech. Looking forward to the journey ahead and follow me as I share insights about Generative AI Product Strategy & Management.

The Dark side of AI - Job Losses: Wow, just had Jeff MacDonald send me this article. It seems that Intuit will shut down their Boise office as part of an "AI Pivot". A local article about the cuts can be found here, at BoiseDev : https://lnkd.in/gZe3w3A5 There is a more comprehensive article in the Wall Street Journal: https://lnkd.in/gGQVA5pj Locally, there are 157 employees affected but nationally there will be 1,800 cuts. Interestingly, Intuit is looking to hire another1,800 in FY2025 to further their AI Pivot. #AI #GenAI #techlayoffs Dwight Paul Noah

“Intuit will lay off 1,800 workers and hire new ones to advance its AI ambitions” Source: Quartz “The financial technology firm is planning to lay off 1,800 employees, or 10% of its workforce, only to rehire approximately 1,800 new people in engineering, product, and customer facing positions, Intuit said Wednesday.” Read more here: https://lnkd.in/dsyt6REy Is 🤖 taking over our jobs? Maybe… 🤔 But in this example with Intuit, this is a restructuring to new roles that focus on product, engineering and customer focus roles. But let’s talk AI, as this has sparked some conversations again, around the use of AI and impact on human roles within the workplace. Are you using ai in your day-to-day? Has it impacted your role/ business, positively or negatively? If you do use it, let’s share ideas with the community on ways ai has benefited you! I will go first: At Email-Postman, use ChatGPT to generate ideas for content, add to existing content and then our copywriters finalise the content before it goes live, we also use it to make advances in our tech we are either building or utilising. I think it has hugely helped my day to day by using chatgpt and other ai tools, to intelligently improve in all areas of our business and also my own personal growth. I also use it to find answers without searching a dump of page results from search engines, giving back this time to my day for other stuff, homing down on ideas for emails or business strategies for my business and also creating content ideas for business and my clients. I feel if you aren’t using ai, you could get swept underneath it. What do you think? 🤔 💭

I knew it was just a matter of time, but this news about Intuit came more quickly than I expected... #AI #GenAI #AIworkforce #Intuit #accounting "This morning, Intuit CEO, Sasan Goodzari, announced the company is planning to lay off 1,800 employees or about 10% of the workforce. Goodzari says the layoffs will help free up investment capacity for AI / GenAI - including investments into Intuit Assist and transforming traditional products to AI-native products. Additional investments will be focused on money movement, mid-market / SMB expansion, and int'l growth. Worth noting Intuit plans to hire additional employees in Fiscal 2025 (begins August 1st) with specialized skills in AI, product, and sales/marketing. Of the 1,800 employees being let go, over 50% of individuals are not meeting performance expectations. Intuit is also eliminating 10% of SVP, EVP, and director roles by expanding the responsibilities of remaining executives." https://lnkd.in/gWPGUbrX

😢After reading this article my first thoughts went to a couple of friends who lost their jobs there - and to all people affected by this situation. I hope they will be able to start their next chapter very soon. 🤔Unfortunately it is one more case of a company in the tech industry - and other industries too - letting people go with their right hand while hiring other people with their left hand. Such "moves" are likely to happen again as predictive and generative AI gets more infused in product and content supply chains. Hence the increasing importance of acquiring new skillsets and mindsets.

This will likely be the model we see for the next few years in big tech. This particular instance is interesting because the 700 laid off were replaced with 700 possessing specific AI integration skills. Learn these skills to be safe for the next few years, but understand also that you'll be building systems that ultimately put you out of work too. And that's okay, it's just part of the cycle that invests human capital where it can provide the most value and automate the things that better serve the customer and the bottom line. This is how we evolve the world of work. It's how it's always worked. /// "Goodarzi made an unprecedented move in 2020—firing 715 employees, the first mass layoff in the company’s history. Moving AI to the core was going too slowly, Goodarzi felt, and Intuit’s ambitious reskilling program couldn’t work fast enough. He replaced the departing workers with over 700 new ones, largely people with AI skills. “We were starting to see momentum in our bets around data and AI,” he says, “but we knew we didn’t have the talent at the level that was needed to accelerate what was possible. We took those dollars and reinvested them in the craft skills we needed.” " #ai #layoff #employment #retraining

Google may fire as many as 30,000 employees. PayTM held out it's pink slip to more than 1000 employees 2 weeks back. The reason? AI-powered automation. The world of ChatGPTs and Bards may not be as creative as your girl-next-door but they're certainly empowered to do the mundane and the repetitive. With more brands embracing AI in their workflows, the nature of work; who does it and how, is constantly changing. But the #1 question I have had (as should you), is how do you survive this age of Ai? Over the last 6 months as I spent countless hours attending webinars, reading content and speaking to people, here are few things I have actively invested my time, money and energy in: 📌 Continuously upskilling and reskilling: I am a content marketer but I also have hands-on experience with video editing tools like Adobe Premiere Pro, Inshot; graphic designing tools like Canva, InDesign & Photoshop. 🛎The idea: Identify your niche and add more skills 📌Adopt AI: I use AI to save time on editing, proofreading and graphic designing from scratch. 🛎The idea: See what can be automated and use AI to buy time. 📌Build your brand: Ai has no face. A human does. Constantly work on building strong human relationships because Ai will still need a human to run it. 🛎The idea: Invest some of your savings in personal branding. Leave a digital trail so much so that people know how much more you do beyond technical skills. P.S. Hire someone to help you with personal branding if you don't have the time to do it yourself. P.P.S. Attached is a picture of Google Workspace Marketplace pushing you to use Intelligent apps to your advantage. Steal 'em :) And as always, I'll stick to my bad reputation of posting every day ;)) Repost this and I'll share my free e-book right away. ♻

Intuit to lay off 1,800 amid location shuffle and AI investment Last Updated: July 10, 2024 at 10:03 a.m. ET First Published: July 10, 2024 at 9:14 a.m. ET By Steve Gelsi Tax-software company said it’s identified 1,050 employees who are ‘not meeting expectations’ Inuit Inc. said Wednesday it’s cutting 1,800 jobs — or about 10% of its workforce — and hiring an equal number in engineering, product and sales positions as it pivots to artificial-intelligence opportunities. Intuit INTU said it expects to grow its headcount in fiscal 2025. “To fulfill our mission to power the prosperity of our customers around the world and strengthen our leadership position, we must accelerate our innovation and investments in the areas that are most important to our future success,” the company said. Intuit’s stock was down by 2.6% in early trading on Wednesday. The tax management software company said about 1,050 employees who “are not meeting expectations” are departing the company. It’s also reducing its executive ranks by about 10%, while expanding other roles and consolidating 80 technology roles to sites where it’s growing its teams and capabilities. The teams are focused in Toronto, Atlanta, New York, Tel Aviv and Bangalore, India. Intuit will close sites in Edmonton, Canada and Boise, Idaho. Together, they employ more than 250 people. Some workers will relocate. It’s also cutting more than 300 roles across the company, Intuit said. The company said it will invest in its GenAI program called Intuit Assist and its “AI-driven expert platform, as well as international growth. Including Wednesday’s moves, Intuit’s stock is up 1.2% in 2024, compared to a 23.3% rise by the Nasdaq COMP.

We learned this morning that Intuit is cutting about 1,800 employees, or 10% of its workforce, as it shifts toward #AI. That pivot will require the Intuit TurboTax and Intuit QuickBooks owner to hire new workers -- about 1,800 of them, the CEO said in a letter to employees. A few things to know: ◾ The Wall Street Journal reported in March that Intuit was testing generative AI across its product lines using models from external providers, including OpenAI and Anthropic, to help with things like answering customer questions and generating invoice reminders ◾ CEO Sasan Goodarzi told employees the layoffs aren’t related to cost cutting and that Intuit will be opening up new roles in engineering, product, and customer-facing roles, including sales and marketing, over the next year ◾ As part of the shakeup, the maker of tax-preparation software is closing worksites in Boise, Idaho 🥔 and Edmonton, Canada 🍁 ◾ Intuit has been hot lately 🔥 having raised full-year guidance in May after quarterly sales and earnings handily topped expectations for its busy tax season Is Intuit’s pivot going to pay off? Make sure to follow The Wall Street Journal on LinkedIn -- we’re curious to find out too.