AI Job Losses: Cisco CEO Chuck Robbins Urges Preparation for Potential Upheaval, Warns AI Impact Will Mirror Dotcom Crash
Australian Financial Review
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Details
- Date Published
- 24 Feb 2026
- Priority Score
- 3
- Australian
- Unknown
- Created
- 24 Feb 2026, 02:45 pm
Description
Chuck Robbins has a unique view as a giant of both the AI infrastructure and software markets, saying the current sell-off is overblown, but plenty won’t survive.
Summary
Chuck Robbins, the CEO of Cisco, warns that the impact of artificial intelligence on the job market could be as significant as the dotcom crash, suggesting businesses should prepare for potential upheaval. While emphasizing that the current market sell-off in software stocks due to AI threats is overblown, Robbins highlights the significant job losses anticipated as AI technologies become more widespread. This perspective adds to the discussions on AI's severe economic implications and underscores the need for effective governance and safety measures in managing AI's long-term risks. The article provides insights relevant to both global and Australian AI policy frameworks, focusing on economic stability and catastrophic risk reduction in the face of rapid technological change.
Body
TechnologyAIPrint articlePaul SmithTechnology editorFeb 24, 2026 – 4.00pmAs global markets lurch back and forth, trying to assess the true impact of artificial intelligence, Chuck Robbins, the chief executive of global tech giant Cisco, says businesses should brace for significant job losses, even as he argues the sell-off in software stocks because of AI’s threat is overblown.Few of the world’s business leaders are better placed to compare the current AI boom to the dotcom crash at the start of the century than Robbins. Cisco was the poster child for the initial internet boom and bust – the Nvidia of the Millennium era – and he has worked there the whole time, becoming CEO in 2015.Loading...Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, artificial intelligence, business use of tech, the fast-growing Australian tech industry and start-ups, and national innovation policy from our Sydney newsroom. Send tips to @sayssmithy.99 on encrypted messaging platform Signal. Connect with Paul on Twitter. Email Paul at psmith@afr.comSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginLicense articleFollow the topics, people and companies that matter to you.Find out moreRead MoreAISoftwareCiscoNvidiaWall StreetSydneyAtlassianOpenAIAnthropicAmazonGoogleMicrosoftAmazon effectXeroMike Cannon-BrookesData centresFetching latest articles