Rise of Artificial Intelligence Results in Job Losses : AI Displaces Thousands of Workers

INVC NEWS
INVC NEWS and Washington  – : It is unfortunate to hear that many people have lost their jobs due to the implementation of Artificial Intelligence (AI). The increasing use of AI technology by companies has indeed resulted in job losses in certain sectors. According to a media report, in May 2023 alone, a total of 80,000 people were laid off, with 3,900 job losses attributed to AI. The remaining layoffs were likely due to various factors such as economic conditions, downsizing, restructuring, and other non-AI-related reasons.

In 2023, a significant number of people, approximately 400,000, have been laid off so far. This marks the first time that AI has been directly linked to such large-scale job reductions. The introduction of Chat GPT by OpenAI in November of the previous year garnered considerable attention. Following that, in February 2023, Google and Microsoft launched their AI systems called Bard and Bing, respectively. These AI technologies have been widely adopted by numerous companies, leading to the displacement of 4,000 employees.

The use of AI in the workforce has undoubtedly brought about changes, including automation and increased efficiency in various industries. However, it is crucial for companies and policymakers to consider the potential impact on employment and ensure adequate measures are in place to support affected individuals. Upskilling, retraining programs, and creating new job opportunities can help alleviate the negative effects of job losses attributed to AI.