AI Job Losses Officially Hit Alarming Climb In Devastating Reveal

Artificial intelligence is reportedly eliminating more and more jobs monthly hitting almost 4,000 jobs in a month, leaving workers hopeless to compete. John Iadarola and Dan Evans break it down on The Damage Report.

AI eliminated nearly 4,000 jobs in May, report says

"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 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.

The job cuts come as businesses waste no time adopting advanced AI technology to automate a range of tasks — including creative work, such as writing, as well as administrative and clerical work. The AI industry is expected to grow to more than $1 trillion fueled by major technological advancements that became apparent last fall with the launch of OpenAI's ChatGPT bot, a report by Bloomberg Intelligence analysts shows."

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