Contrary to popular narratives blaming Artificial Intelligence (AI) for sweeping job cuts in the global tech sector, industry experts are pushing back—arguing that economic recalibrations are the real culprits behind the spate of layoffs.
Dayo Ayeni, Founder of CareerXpress, a Lagos-based digital marketing outsourcing platform, says the recent downsizing by tech giants is largely a correction following pandemic-era overhiring, not an AI-triggered apocalypse.
“Many companies bulked up their workforce during the COVID boom. But as interest rates soared, inflation kicked in, and venture capital funding slowed, those inflated payrolls became unsustainable,” Ayeni told the News Agency of Nigeria (NAN) in a business trends interview on Monday.
The Post-Pandemic Tech Reset
Major U.S. tech firms like Google, Meta, Amazon, and Salesforce have all undergone multiple rounds of job cuts since 2023. While generative AI has often taken the blame, Ayeni insists the restructuring is fundamentally tied to shifting business models and macroeconomic pressure.
“What we’re seeing is a pivot—companies are now laser-focused on core profitability and long-term sustainability. This isn’t about AI stealing jobs—it’s about bloated business models shrinking to fit new market realities,” he said.
In Nigeria, the symptoms mirror the global story, albeit on a smaller scale. Local startups, fintechs, and e-commerce players are also trimming teams—not because of AI—but due to a perfect storm of naira volatility, high operating costs, and declining access to foreign capital.
AI: Accelerant, Not Assassin
While acknowledging that generative AI and automation tools are rapidly changing work dynamics, Ayeni dismisses them as the root cause of job losses.
“AI is not the axe. It’s more like the wind behind the axe—speeding up decisions that were already inevitable,” he noted.
In the U.S., roles such as content moderation, customer service, and basic software engineering are increasingly vulnerable to automation. But in Nigeria, the direct impact is less immediate—though Ayeni warns that remote workers and outsourced IT talent are exposed to global hiring shifts influenced by automation.
The Next Big Opportunity—and Risk—for Nigeria
Ayeni believes AI presents massive upside for countries like Nigeria—if the workforce is prepared. He highlights opportunities in machine learning, cybersecurity, AI ethics, and particularly in fintech, where AI could revolutionize fraud detection and personalized banking services.
Yet, he cautions, Nigeria faces a dual risk:
- Losing outsourced digital work as global firms automate roles.
- Falling behind in upskilling, especially in AI-resistant competencies like data analysis, prompt engineering, and systems thinking.
“The Nigerian tech workforce must upgrade from doing basic, repetitive tasks to mastering higher-value problem-solving roles. That’s how we futureproof jobs in the AI era,” he said.
Skills That Will Survive—and Thrive
Globally, tech hiring is tilting toward AI literacy, data science, and adaptive programming. Meanwhile, routine roles in IT helpdesk, quality assurance, and basic content creation are being phased out.
For Nigeria, Ayeni believes the solution lies in a two-pronged approach:
- Tech-forward skills acquisition (AI, cloud, data).
- Human-centric soft skills like creativity, empathy, and critical thinking—traits that machines cannot easily replicate.
“AI is changing the rules of the game. But if we play it right, Nigeria can go from outsourcing destination to global innovation hub,” he said.
BRANDECONOMY TAKEAWAY
The real disruptor in the tech jobs market isn’t just AI—it’s a global economic reset. AI is simply accelerating a transition that was already underway. For Nigeria, the challenge—and opportunity—is to leapfrog into the next generation of digital work by upskilling its workforce and betting on AI as a tool for empowerment, not replacement.
Trending in Tech + Talent
- Google and Meta cut over 35,000 roles in 2023 alone
- Remote jobs outsourced to Nigeria now face AI-driven redundancy
- AI fluency and prompt engineering now among top-5 in-demand global tech skills
- Nigeria’s fintech sector projected to be worth over $10B by 2030—AI could unlock more
- Critical thinking is the new currency in an age of synthetic intelligence
Stay tuned to BRANDECONOMY for more insights into how technology, talent, and capital are reshaping the African enterprise.
