ServiceNow CEO says that new college graduate unemployment could reach 30% thanks to AI automation

AI tools are already spurring fierce job competition among Bambi-legged Gen Zers hoping to land their first entry-level job out of college. And the situation could get even worse, one tech boss is warning.

“I think young people coming out of university today [are experiencing] 9% unemployment,” Bill McDermott, the CEO of AI-driven software company ServiceNow, recently told CNBC. “I think it could easily go into the mid-30s in the next couple of years.”

When evaluating what is disrupting the budding workforce, the boss of the $123 billion American tech giant pointed the finger at AI agents. McDermott predicted that there will be about three billion digital, non-human agents added to enterprises by 2030, which have the ability to automate routine tasks typically done ...