Over 4,000 workers have lost their jobs to AI since May, outplacement firm estimates

The article discusses the impact of artificial intelligence (AI) on job cuts, with several companies, including UPS and BlackRock, making significant layoffs. While these companies attribute the layoffs to various factors, the role of AI and machine learning in streamlining operations and reducing the need for human intervention is evident. However, most companies are hesitant to directly link job cuts to AI advancements, preferring to highlight how AI can enhance productivity and efficiency.

The article also highlights that while some jobs are being eliminated due to AI, new roles requiring AI skills are being created. However, the exact number of jobs lost to AI is hard to estimate. A survey by Gallup revealed that three out of four Fortune 500 chief human resources officers anticipate AI replacing jobs in their companies in the next three years. Despite the job cuts, companies emphasize that the goal of AI integration is not elimination but augmentation of human roles.

Key takeaways:

Artificial Intelligence (AI) is increasingly being used by companies to increase efficiency and productivity, which has led to significant layoffs in some cases, such as at United Parcel Service Inc.
Many companies are hesitant to directly link AI with job cuts due to fear of negative publicity, and some are choosing to quietly reduce their workforce or slow hiring.
Most AI-related job cuts have been in the tech industry, with some companies needing to let go of staff to make way for new hires with AI skill sets.
Despite the job losses, some industry leaders argue that AI is not about eliminating jobs but augmenting them, making workers more effective and efficient.

Over 4,000 workers have lost their jobs to AI since May, outplacement firm estimates—and that’s ‘certainly undercounting’

Key takeaways:

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