AI blamed for 3,900 people losing their jobs in May: report
Artificial intelligence (AI) has been blamed for the loss of almost 4,000 jobs in the United States. This marks the first time that AI has been listed as a contributing factor in American layoffs. A report by analytics firm Challenger, Gray, and Christmas shows that more than 80,000 jobs were cut in May of this year, with 3,900 of those layoffs resulting from the increasing use of AI. The report also shows that around 417,500 jobs were lost between January and May, the worst five-month start to a year since the onset of the coronavirus pandemic in 2020.
The rapid advancement in AI research and the speed at which engineers have developed AI-powered bots is causing fear that they could render humans in knowledge-based industries obsolete. Goldman Sachs previously predicted that AI-powered bots could impact as many as 300 million jobs worldwide, with two-thirds of jobs in the US and Europe being automated to some degree by AI.
OpenAI CEO Sam Altman and “Godfather of AI” Geoffrey Hinton were among more than 350 leading figures who warned of AI posing an existential threat, according to an open letter. Billionaire Elon Musk also expressed his concerns about AI, calling for a six-month pause in advanced AI development so that leaders could consider how to proceed safely.
FAQs:
What is artificial intelligence (AI)?
AI is a field of computer science that focuses on creating machines that can work and behave like humans by learning from experience and adapting to new data.
How does AI affect jobs?
As AI technology improves, it can automate tasks previously performed by humans, potentially rendering some jobs obsolete. Additionally, AI-powered automation may create new jobs that require different skills than those previously held by humans.
How many jobs has AI replaced in the US?
According to a report by analytics firm Challenger, Gray, and Christmas, nearly 4,000 jobs were lost in the US in May due to AI. It is the first time that AI has been listed as a contributing factor in American layoffs.
What are experts saying about the impact of AI on jobs?
Experts have warned that AI could impact as many as 300 million jobs worldwide. However, opinions on the extent of the impact vary, with some suggesting that AI will create more jobs than it replaces, particularly in the fields of healthcare and education.
Report attributes layoff of 3,900 employees in May to AI technology
The rise of artificial intelligence (AI) has resulted in the loss of nearly 4,000 jobs in the United States, according to a report by analytics firm Challenger, Gray, and Christmas. The report states that over 80,000 jobs were lost in May, of which 3,900 were due to AI, marking the first time the technology has been blamed for unemployment. Market and economic conditions, as well as mergers and acquisitions, were also cited as contributing factors to the job losses. The report also reveals that the US lost around 417,500 jobs between January and May 2021, the worst start to any year since the onset of the coronavirus pandemic in 2020.
Experts have warned that the rapid advancement in AI research and adoption is creating fears that the technology could render humans in knowledge-based industries obsolete. Goldman Sachs issued a report earlier this year predicting that AI-powered bots could affect as many as 300 million jobs worldwide. The report warned that AI could pose “significant disruption” to the labor market.
AI experts have also expressed concerns that the new technology could pose an existential threat to humanity. OpenAI boss Sam Altman and the “Godfather of AI” Geoffrey Hinton were among more than 350 prominent figures who see AI as an existential threat. Billionaire Elon Musk was among hundreds of experts who called for a six-month pause in advanced AI development so that leaders could consider how to safely proceed. During an appearance at a Wall Street Journal conference in London last week, Musk said he saw a “non-zero chance” of AI “going Terminator” – a reference to the worst-case scenario from James Cameron’s 1984 sci-fi film.