Artificial intelligence takes jobs away from nearly 4,000 Americans in a month

In May 2023, more than 400,000 people in the US lost their jobs Some have been replaced by artificial intelligence.

Here's What We Know

According to Bloomberg reporters who reviewed a report by Challenger, Gray & Christmas, 417,500 people were laid off in the US last month. It is noteworthy that for the first time in the report on the labour market AI is listed as the reason for layoffs.

The introduction of artificial intelligence has led to 3,900 people losing their jobs, which is about 6.5% of the total number of people laid off. The situation is only expected to get worse.

Newedge Wealth and Goldman Sachs analysts predict that in a dozen years the number of people laid off because of AI will increase by several orders of magnitude - up to 300 million by 2035. At the same time, the capacity of the market for services related to generative AI models will increase to $1.3 trillion.

Source: Bloomberg