The IT industry will be hugely disrupted when the first company comes out with a good enough (better than the average human) algorithm to solve a problem that many people have.
Imagine if Google comes out with an app, to generate any medium complex website based on a few settings that I could select in 15 minutes and based on my data stored and available on Google and on my social media profiles. I could select from 500 themes and 90% of my photos, data, CV, company details would be already there. It could even collect my published articles or social media posts. All that for free.
This means that thousands of database engineers, back-end developers, front-end developers, UX, UI designers, managers, QA teams will no longer have a job, as 50-70% of the market is covered by a machine. A machine that does a better, quicker, and a lot cheaper job.
The GPT-3 algorithm is already good enough to write complex articles or to generate a user interface based on a few lines of text.
While it is inefficient and a closed algorithm today, computational power is increasing exponentially. What’s not possible today, will be widely available tomorrow.
Imagine a world in which these jobs are done by algorithms for an extremely cheap price (50$ for a monthly subscription).
I don’t mean to scare you, just simply imagine one type of job replaced by a good enough algorithm (it doesn’t have to be perfect, just better or cheaper than the average human). Let’s say Google publishes an algorithm that could create any medium complex website from start to finish based on some initial parameters that I could setup within a few hours maximum and for a 50$ price a month. Millions of jobs would be unnecessary: Front-end Engineers, UX, UI designers, Back-end Engineers, Database Engineers, Copywriters, Manual and Automated testers.
What do you think would happen if the market is flooded with thousands of professionals in a very short time? Chaos, salaries going downhill, scares jobs, huge competition.
First of all the more information, you know, the better you can prepare.