The spread of artificial intelligence (AI) is provoking growing hostility among young entrants to the labour market, members of Generation Z. Open disapproval has surfaced at university commencements: Eric Schmidt, former CEO of Google, was booed during his commencement address at the University of Arizona after saying AI’s impact will be larger, faster and deeper than anything we’ve seen. Gloria Caulfield, a real estate executive, received a similar response at the University of Central Florida when she described AI as a “new industrial revolution.”
Mass layoffs justified by AI
Large employers have been announcing rounds of redundancies, often citing automation and AI as the reason. Standard Chartered said on Tuesday it plans to eliminate more than 7,000 jobs, stating it would replace "lower value‑added human roles" with artificial intelligence. Meta is set to cut 10% of its global workforce starting in June. Amazon has eliminated roughly 30,000 office positions in recent months. Block, the fintech firm, dismissed nearly half its staff in February. Each company pointed to AI and efficiency gains as drivers of their decisions.
Poll numbers: Gen Z attitudes
A Gallup poll conducted in April quantifies the shift in sentiment: nearly half of surveyed Generation Z respondents believe the risks of AI outweigh its benefits, while only 15 percent see the technology’s overall effect as positive. That outlook is markedly gloomier than a year earlier, with the proportion of optimistic respondents falling and levels of anxiety and anger rising.
The survey also found that regular users of AI tools tend to view the technology more favorably. However, Gallup noted that growth in AI usage is beginning to slow, suggesting it is becoming harder to persuade sceptics.
International resistance and industry disputes
Resistance to AI is not limited to U.S. campuses. Chinese courts, South Korean auto industry unions, Hollywood screenwriters and the Indian film industry have all signalled unease or opposition to unchecked AI adoption. Technology leaders, including Eric Schmidt, have described young people’s fears as "rational" while insisting that adaptation is inevitable — a message that appears to persuade fewer people over time.
Why this matters
The dispute has both economic and social dimensions: AI‑driven restructuring directly affects career prospects for new graduates and, as public opinion sours, could prompt political and regulatory responses. How the transition is managed — through retraining, social policy or regulation — will be increasingly important for policymakers and corporate leaders.
Related event
These issues will be discussed at the Financial IT conference on May 28, organised by Portfolio under the title "Financial IT 2026: AI‑boom, fintech innovations, digital transformation." The event focuses on digital progress in the banking sector; registration and details are available from the organisers.
(Source: Reuters.)
