They are asking their employees to produce more

always

and understand less.

Usually not. At least from where I sit, we retain employees with experience / understanding, even at 2-3x the pay of alternate new hires who have all the degrees and certifications to wear the hat. AI is a tool to help leverage your existing understanding, not enable you to make "expert decisions" about things you know little or nothing about.

There are plenty of places that just hire the cheapest they can get, I took a job with one - briefly - 15 years back, before I found a better place. They didn't impress me as actually efficient while I was there: headcount was high, labor cost was low for the headcount, but high for the actual productivity. They also didn't survive COVID as a business.