AI Renders Nearly 4,000 People Jobless In May
According to a new report, the tech job market has been quite volatile in recent months, and since the release of AI tools such as ChatGPT, Bard, and Bing, things have become even more difficult.
According to a Business Insider report based on a monthly report from Challenger, Grey, and Christmas, approximately 4,000 people lost their jobs to artificial intelligence in May of this year. According to the report, approximately 80,000 people were laid off last month. AI was responsible for 3,900 of these job losses. Other job cuts could be due to economic conditions, cost cutting, company restructuring, or mergers and acquisitions.
The report also shared insights on total job cuts in 2023 till now. From January to May, around 4 lakh people lost their jobs.
A spokesperson also told Insider that this was the first time that job cuts were being attributed to AI. The spokesperson added that all the layoffs were from the tech sector.
(With inputs from Shikha Singh)
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