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AI put 3,900 people out of work in May alone

  • June 2, 2023
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Representatives of the technology industry predict that the development of artificial intelligence systems will radically change the labor market and, although in the near future a number of

AI put 3,900 people out of work in May alone

Representatives of the technology industry predict that the development of artificial intelligence systems will radically change the labor market and, although in the near future a number of professions will literally lose their importance, they will be replaced by more suitable ones. So far, May statistics report that artificial intelligence has caused the loss of nearly 3,900 jobs in the US last month.

The Bloomberg agency cites a recent labor market report compiled by the consulting firm Challenger, Gray & Christmas. Planned layoffs in the US labor market in May affected 417,500 people, and for the first time in the long history of observation, artificial intelligence is cited as the reason for the statistics. Its implementation by American companies resulted in a decrease of 3,900 in May alone.

According to analysts Newedge Wealth and Goldman Sachs, the capacity of the productive AI-related services market will reach $1.3 trillion in the near future, and their expansion by 2035 will result in a reduction of 300 million jobs. labor productivity Interestingly, ten years ago in May 2013, the most common reasons for planned staff reductions were restructuring, business shutdowns and cost reductions.

They are still in the top five, but the worsening economic situation at the end of last month made them the undisputed favourites. A total of 206,283 people have been laid off in the US since the beginning of this year.

Source: Port Altele

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