Artificial intelligence is reshaping the global labour market, and South Korean tech titan Samsung is on the frontline, says Catherine Thorbecke for Bloomberg Opinion.
TOKYO: It was supposed to be a good week for Samsung Electronics, with attention focused on the consumer gadgets to be unveiled Wednesday at its annual summer product event.staged by its largest union.
At Samsung, rank-and-file chip assembly line workers are also now seeing the AI boom make their company richer, and are seeking a clearer method of tying bonus payments to operating profits, among other demands. Samsung last Friday posted a While SK Hynix has benefited from being the main supplier of these semiconductors to AI leader Nvidia, Samsung has yet to get its own high-bandwidth memory chips to pass Nvidia’s qualification checks, and it cannot afford any missteps. SK Hynix shares have rallied more than 60 per cent since the beginning of the year, while Samsung stock is up roughly 10 per cent.
Times are changing fast, and businesses need to adapt. In what would have seemed impossible just a few years ago - Samsung took a hardline industrial approach for most of its history and only in 2020 said it would respect workers’ rights to organise - the union held a strike and is seeking an additional annual paid day off, changes to the bonus system, and other improvements., and markets have so far shrugged off any potential business disruption.
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