Economic picture getting grimmer, prepare for tough times: Vembu

Zoho Co-founder Sridhar Vembu warned that AI alone is not responsible for rising layoffs as rising cost pressures are causing it. "The economic picture is getting grimmer...AI won't magically cure global imbalances. We must prepare for tough times ahead," he added. Vembu further said firms blame AI for job losses as it is convenient and makes the "company look visionary".