Jensen Huang, CEO of Nvidia, delivered a keynote speech (1) at Computex \u2014 the leading global exhibition (2) focused on AIoT and startups \u2014 on Monday. The exhibition\u2019s theme was \u201cAI Together\u201d and Huang\u2019s speech focused on agentic and physical AI, and what it means for the future.<\/p>\n
According to Fortune Business Insights (3), the agentic AI market is currently valued at over $9 billion and is forecast to grow 40.5% by 2034.<\/p>\n
Must Read <\/p>\n
Given this expected growth, and the fact that agentic AI needs limited supervision to function, it\u2019s fair that some workers might be worried about their jobs being replaced. EY\u2019s Agentic AI in the Workplace Survey (4) found that 56% of workers are concerned about their own job security working alongside AI agents.<\/p>\n
However, Huang feels differently.<\/p>\n
Huang says software companies are in a good spot <\/p>\n
Per Huang\u2019s speech at Computex, he thinks it is an \u201cincredible time to be a software company.\u201d He said that, while people might think that agentic AI means all software companies will go out of business, it\u2019s actually the opposite.<\/p>\n
\u201cBecause there will be so many agents, the world will not be limited by the number of people,\u201d he explained. \u201cTherefore, those agents are going to use more tools than ever.\u201d<\/p>\n
The U.S. Bureau of Labor Statistics (5) projects that the overall employment of software developers will grow 15% from 2024 to 2034, which is faster than average for other occupations.<\/p>\n
Meanwhile, the World Economic Forum\u2019s Future of Jobs Report (6)found that AI and Machine Learning Specialists and Software and Application Developers feature within the top fastest-growing roles at present.<\/p>\n
Read More: BlackRock warns buying and holding the S&P 500 isn\u2019t enough for retirement anymore \u2014 here’s why<\/a><\/p>\n AI could serve as a resource, not a replacement <\/p>\n In a working paper for Cornell University (7), researchers found that \u201cthe heaviest users [of agentic AI] tend to be knowledge workers, and they\u2019re mostly using agents to boost productivity or assist with learning.\u201d<\/p>\n In other words: the very people fearful of AI replacing them are the ones largely leveraging AI as a tool.<\/p>\n Huang added that \u201cthe software has to be presented to the agent in a way that the agent can use it.\u201d Essentially, he is saying that people are still a vital part of the process, regardless of how heavily agentic AI is incorporated into work.<\/p>\n \u201cPeople talk about AI reducing jobs \u2014 complete nonsense,\u201d he said. \u201cIt\u2019s causing more software engineers to be hired\u2026 Because the output is so incredible, people want to hire more software engineers. This is going to show up in our economy somehow soon.\u201d<\/p>\n You May Also Like <\/p>\n Join 250,000+ readers and get Moneywise\u2019s best stories and exclusive interviews first \u2014 clear insights curated and delivered weekly. Subscribe now.<\/a><\/p>\n Article Sources <\/p>\n We rely only on vetted sources and credible third-party reporting. For details, see our ethics and guidelines<\/a>.<\/p>\n YouTube (1<\/a>); Computex Taipei (2<\/a>); Fortune Business Insights (3<\/a>); EY (4<\/a>); Bureau of Labor Statistics (5<\/a>); World Economic Forum (6<\/a>); Harvard Business School Library (7<\/a>)<\/p>\n This article originally appeared on Moneywise.com<\/a> under the title: ‘Complete nonsense’: Nvidia’s Jensen Huang says AI won’t kill software jobs \u2014 and the data backs him up<\/a><\/p>\n This article provides information only and should not be construed as advice. It is provided without warranty of any kind.<\/p>\n","protected":false},"excerpt":{"rendered":"Jensen Huang, CEO of Nvidia, delivered a keynote speech (1) at Computex \u2014 the leading global exhibition (2)…\n","protected":false},"author":2,"featured_media":65477,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[179,7493,32671,37037,2446,31022,58,7391,2421,4452,6171],"class_list":["post-65476","post","type-post","status-publish","format-standard","has-post-thumbnail","category-agentic-ai","tag-agentic-ai","tag-agentic-artificial-intelligence","tag-computex","tag-fortune-business-insights","tag-jensen-huang","tag-keynote-speech","tag-nvidia","tag-software-companies","tag-software-company","tag-software-developers","tag-world-economic-forum"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/65476","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/comments?post=65476"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/65476\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media\/65477"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media?parent=65476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/categories?post=65476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/tags?post=65476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}