Around 3,900 people have reportedly lost their jobs in the US as a result of artificial intelligence (AI) developments, with employers citing the technology as the reason for roughly 4.9% of May’s job cuts. This is according to a monthly report from Challenger, Gray & Christmas, which also found business closures to be the chief cause of May’s layoffs. The report suggests that AI has caused panic amongst workers, as more companies look to utilise automation technology. However, a separate report from the World Economic Forum found that 50% of companies feel AI could create new jobs.
US Job Market Hit by Massive AI Cutbacks in One Month
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