CEO Eric Vaughan laid off nearly 80% of employees: How AI literacy could make or break your career

In early 2023, IgniteTech CEO Eric Vaughan made a move that shook the tech world. He laid off nearly 80% of his workforce. The reason? Widespread resistance to adopting artificial intelligence (AI).

Vaughan had introduced “AI Mondays,” a weekly day dedicated entirely to AI projects. But when employees, especially the technical teams, pushed back, he chose replacement over persuasion. Looking back, Vaughan described the decision as “extremely difficult,” yet he said he would do it again, according to the Fortune.For students and professionals navigating today’s workplace, this isn’t just a headline — it’s a wake-up call.

AI literacy is no longer optional. It’s a skill that can shape careers, open doors, and, in some cases, determine whether you keep your job.

Why AI literacy matters

AI literacy isn’t just about learning a new software or tool. It’s about understanding how AI works, its strengths and limitations, and the broader ethical questions it raises. It’s about knowing how to use AI to solve real-world problems, not just following instructions.When you build AI literacy, you approach technology with curiosity rather than fear.

You see opportunities instead of obstacles. And in a world where AI is becoming central to almost every industry, that mindset is everything.

For professionals: Staying ahead of the curve

For those already in the workforce, AI literacy can be a career game-changer. It allows you to integrate AI into your workflows, make faster decisions, and find creative solutions to problems. Those who resist risk being left behind, overtaken by colleagues or competitors who are comfortable leveraging AI to their advantage.But AI literacy isn’t just a technical skill. It sharpens your ability to think critically, make ethical choices, and solve complex problems creatively. Professionals who master AI aren’t just workers, they become indispensable contributors in a tech-driven world.

For students: Preparing for the future

For students stepping into the workforce, the stakes are just as high. Early exposure to AI, whether through projects, coursework, or personal experimentation, can give you an edge in a competitive job market.

Understanding AI helps you meet the expectations of future employers and shows that you’re adaptable, curious, and proactive.Students who embrace AI as a collaborator, rather than a threat, also gain confidence in problem-solving and innovation. Learning to work with AI early sets the stage for creative thinking and equips you to navigate challenges in professional settings with ease.

How to navigate the AI landscape

Learning AI isn’t just about tools or coding, it’s a mindset.

It’s about seeing AI as something that can augment human capabilities, not replace them. The more you engage with AI, experiment, and reflect on its outcomes, the better you understand its potential, and its limits.Ethics also matter. Knowing the societal impact of AI ensures that you use it responsibly, balancing innovation with accountability. In other words, AI literacy isn’t just a career skill — it’s a professional responsibility.The story of IgniteTech’s workforce overhaul is a stark reminder: in a world shaped by AI, failing to adapt is risky. For students entering the job market and professionals looking to stay relevant, investing time in AI literacy isn’t just smart, it’s essential.When you embrace AI, you don’t just keep pace — you gain the tools to navigate complexity, enhance your work, and contribute to a future where technology works for people, not the other way around.TOI Education is on WhatsApp now. Follow us here.