Lots of people are sceptical but I cannot imagine a use for entry level positions anymore. At my work everybody got to calling AI "the intern", which is not confusing because we do not have and have no use for interns.
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Also what company do you know of thinks in 40 year terms? The longest budgeting process I’ve been part of has been 3 years and the year 3 numbers were understood to be pure wish fulfilment
Up until the great recession it was pretty normal, almost expected, that a good internship turned into a good job offer.
I'm guessing that just never reversed.