Dev platform Stack Overflow axes 28% of staff as AI competition grows

On Oct. 16, Stack Overflow CEO, Prashanth Chandrasekar, made the statement pointing out the obstacles of macroeconomic pressures impacting the entire tech market. In August, Stack Overflow noted that its web traffic has seen a small decline compared to 2022, falling by an average of 5%.” Cointelegraph called Stack Overflow for remark however was referred back to the Oct. 16 announcement.Related: How AI is changing crypto: Hype vs. realityIn related news, the Coinhouse crypto exchange has actually also axed 15% of its labor force according to reports.

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Developer and programmer platform Stack Overflow is cutting the businesss headcount by roughly 28% in the middle of an increase in the popularity of expert system (AI) chatbots. On Oct. 16, Stack Overflow CEO, Prashanth Chandrasekar, made the announcement citing the obstacles of macroeconomic pressures affecting the entire tech industry. The company is on a “path to profitability” and “continued product innovation,” stated Chandrasekar who added, “This year we took numerous steps to invest less.” Stack Overflow is a 15-year-old tech-focused question-and-answer online forum for countless developers, coders, and enthusiasts. It doubled its headcount in 2022 to 540, according to reports, so this weeks layoffs represent around 150 employees. In August, Stack Overflow noted that its web traffic has seen a little decrease compared to 2022, falling by an average of 5%.” Conversely, in April of this year, we saw an above-average traffic reduction (~ 14%), which we can likely credit to designers attempting GPT-4 after it was released in March,” it added.The firm also said it anticipated generative AI to cause “some rises and falls in conventional traffic and engagement over the coming months.” Meanwhile, technology outlets such as Ars Technica have actually attributed the increase of AI chatbots to declines in the traffic and use of conventional social knowledge-sharing platforms such as online forums. “Chatbots can use more particular help than a 5-year-old forum post ever could,” it mentioned on October 17. ChatGPT and the like can likewise correct code, supply optimization recommendations, and discuss what each line of code is doing.New York University Leonard N. Stern School of Business Professor Panos Ipeirotis also made a comparable idea in an X post on Oct. 17. Screenshot from X post by teacher Panos Ipeirotis on Oct. 17. Source: X/@ipeirotisHowever, Stack Overflow is dealing with its own answer to OpenAIs ChatGPT in the type of “Overflow AI,” announced in July.The goal is to present brand-new features to take advantage of Stack Overflows neighborhood understanding to power AI that offers developers with personalized, credible services. Chandrasekar concuded. “As we refine our focus, top priorities, and strategy its to better satisfy the demands of our users, clients, and partners as part of this commitment to item development and the continued momentum of OverflowAI.” Cointelegraph contacted Stack Overflow for comment however was referred back to the Oct. 16 announcement.Related: How AI is changing crypto: Hype vs. realityIn related news, the Coinhouse crypto exchange has also axed 15% of its labor force according to reports. The 2015-founded French exchange has actually laid off 10 of its 70 staff members pointing out “decreased interest for Web3 and a delicate global economic environment.” Earlier this month French hardware wallet service provider announced a 12% staff reduction. Magazine: AI has eliminated the industry: EasyTranslate employer on adapting to change