Company Logo

Home technology artificial-intelligence the US has reportedly lost 4,000 jobs as a result of AI

The US has reportedly lost 4,000 jobs as a result of AI

Artificial Intelligence

The US has reportedly lost 4,000 jobs as a result of AI

According to reports, the US has lost over 4,000 jobs in the past month. Reports show that employees hold AI responsible, as it is replacing many of their full time jobs.

NDTV reported that, people who were laid off in May of this year, in the US, lost their employment due to artificial intelligence (AI). It stated that 3,900 layoffs, which made up around 4.9% of May's employment losses, US employees attributed to AI.

According to the report, 417,500 jobs were lost between January and May, making this year's first five months the worst for employment loss since 2020, when the Covid-19 pandemic first appeared and caused more than 1.4 million losses.

Additionally, it stated that the most typical cause of layoffs in May, accounting for 19,600 job losses, was business closure.

On the other end, CBS News reported, that the Challenger, Grey & Christmas report were released at a time when companies all over the world were implementing cutting-edge AI technology to automate a variety of tasks, including administrative and clerical work, as well as creative work like writing.

This week, it was also claimed that two copywriters lost their jobs as a result of employers' (or clients') decision to hire ChatGPT, who could complete the task for less money. Additionally, it stated that media business CNET, which employs AI to generate stories, also fired reporters.

In a report released in March, the investment bank Goldman Sachs claimed that AI would eventually touch roughly one-fifth of all employment globally and displace 300 million full-time jobs.

Business News

Recommended News

Most Featured Companies

Latest Magazines

© 2023 CIO Bulletin Inc. All rights reserved.