Dropbox says it’s cutting 500 jobs because the company wants to grasp the opportunities presented by AI.

A blog post from the company’s CEO, Drew Houston, claims the company is keen to exploit the benefits of AI and that it requires new skills from its workforce.

“The AI era of computing has finally arrived,” Houston writes. “We’ve believed for many years that AI will give us new superpowers and completely transform knowledge work. And we’ve been building towards this future for a long time, as this year’s product pipeline will demonstrate.”

“The opportunity in front of us is greater than ever, but so is our need to act with urgency to seize it. Over the last few months, AI has captured the world’s collective imagination, expanding the potential market for our next generation of AI-powered products more rapidly than any of us could have anticipated. However, this momentum has also alerted our competitors to many of the same opportunities.”

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