The impact of AI on the labor market is still unfolding, with predictions that hundreds of millions of jobs globally could be affected. Goldman Sachs economists suggested that as many as 300 million full-time jobs could be lost or diminished due to AI technology, with white-collar workers and women potentially most at risk. As tech industry layoffs continue, labor advocates and lawmakers are expressing concern, with a group of Black lawmakers highlighting the disproportionate impact on the African American community and women. They have urged the Department of Labor to pay closer attention to these mass layoffs and to do more to protect the most vulnerable workers.
Key takeaways:
- The tech sector has started the new year with a series of job cuts, coinciding with increased investments in artificial intelligence (AI).
- Major tech companies like Google and Amazon have announced significant layoffs, following their multi-billion-dollar investments in AI startup Anthropic.
- According to Layoffs.fyi, over 5,500 tech employees have lost their jobs in the first two weeks of 2024, following a trend of job cuts in the industry over the past two years.
- There is growing concern about the impact of AI on the labor market, with predictions that hundreds of millions of jobs could be affected globally, and women's jobs could be disproportionately impacted.