Yup, 95% of the AI hype is to apply pressure on the labor market and provide cover for offshoring/downsizing.
* - Someone should maintain a walkback list to track these. I believe recent additions are Amodei of Anthropic and the CEOs of AWS and Salesforce. (Benioff of Salesforce, in February: "We're not going to hire any new engineers this year." Their careers page shows a pivot from that position.)