Look at DuoLingo. It is a great example of CEOs over estimating their service, the capabilities of AI, and the reaction of the customers.
Same you see in many other areas of the industry too.
Cost cutting, replacing human workers always has been part of capitalism - sadly.
Interestingly it seems some company CEOs too quickly jumped onto the AI train now realizing the chaos they caused and like with DuoLingo recverse.