“Intuit to lay off over 3,000 employees to refocus on AI” (via TechCrunch)
The memo by CEO Sasan Goodarzi said the layoffs are meant to reduce complexity by simplifying the company’s corporate structure and help it focus on AI efforts, according to Reuters …
Intuit, however, hasn’t been perceived as a beneficiary of the AI boom, with its shares consistently underperforming in the broader S&P 500 over the past 12 months. The company has been caught up in the broader current of worries that traditional software-as-a-service firms will not be able to keep up or compete, as new and upcoming AI products and services threaten to change how software is developed and how it is used.
The Internet … Cloud software … now AI – all changes to the landscape requiring adaptation to keep moving ahead.