Sridhar Vembu, the CEO of Zoho, has voiced strong criticism against the prevailing narrative that artificial intelligence (AI) is a panacea for productivity issues in the tech industry. He argues that the actual gains from AI are minimal and that many companies are using it as a convenient excuse for layoffs, which are often tied to economic pressures rather than technological advancements. Vembu states, 'It does not help that companies are blaming job losses on AI, which is both convenient and as an added bonus, makes a company look visionary.' He warns that the economic landscape is weakening globally, and AI alone cannot resolve these deeper issues. Vembu also notes that the current AI investment bubble may only provide temporary support for the economy, similar to past technological revolutions that failed to avert economic crises. His comments resonate amid shifting opinions on AI's role in workforce reductions, especially as OpenAI CEO Sam Altman acknowledges the enduring value of human interaction over AI capabilities.