AI causes huge unemployment!
Napolitano’ 23 (A data reporter who focuses on technology and business. She also specializes in investigating bitcoins and she has reported news about tech, crypto and the AI industry. “AI eliminated nearly 4000 jobs in May, report says”, 6-2-2023, CBS News, https://www.cbsnews.com/news/ai-job-losses-artificial-intelligence-challenger-report/) (PW)
For those wondering when AI will start replacing human jobs, the answer is it already has.
Artificial intelligence contributed to nearly 4,000 job losses last month, according to data from Challenger, Gray & Christmas, as interest in the rapidly evolving technology's ability to perform advanced organizational tasks and lighten workloads has intensified. The report released Thursday by the outplacement firm shows that layoff announcements from the U.S.-based employers reached more than 80,000 in May — a 20% jump from the prior month and nearly four times the level for the same month last year. Of those cuts, AI was responsible for 3,900, or roughly 5% of all jobs lost, making it the seventh-highest contributor to employment losses in May cited by employers.