Is AI Stealing Jobs? Over 4000 Techies Lose Jobs to AI

A recent survey claims there has been a lot of instability in the tech job market lately. The difficulties experienced by experts in this subject have intensified with the introduction of AI tools like ChatGPT, Bard, and Bing. While Bard and Bing were introduced by Google and Microsoft, respectively, in February of this year, ChatGPT was unveiled by OpenAI in November 2022.

The growing impact of new technologies led to the loss of Jobs

Since their release, these three AI tools have drawn much attention from the IT community, inspiring many businesses to use AI to their advantage. Unfortunately, the growing impact of these new technologies led to the loss of over 4,000 jobs in May 2023 alone. Eighty thousand individuals were laid off in May, including 4,000 tech workers.

People were reportedly affected by job losses in May

Four thousand people were reportedly affected by job losses in May due to artificial intelligence, according to a story by Business Insider based on a monthly report by Challenger, Grey, and Christmas. The report also stated that 3,900 of the 80,000 job cutbacks made during that month were directly related to AI. The remaining job cuts were due to changing economic conditions, cost-cutting initiatives, organisational restructuring, and mergers and acquisitions. The study gave information about the overall employment losses in 2023 so far. Between January and May, around 400,000 people lost their employment.

Have American businesses begun using ChatGPT instead of actual employees?

• According to a poll by the career guidance website Resumebuilder.com in February of this year, some American businesses have begun using ChatGPT instead of actual employees. One thousand business leaders participated in the poll, and nearly half of the US corporations said they were using ChatGPT to replace staff in their organisations.
• Business executives were reportedly "impressed" with the performance of the highly publicised chatbot, according to resumebuilder.com at the time. "Overall, most business leaders are impressed by ChatGPT's work," the company stated. 55% of respondents said ChatGPT's work is outstanding, while 34% said it is excellent quality.
• According to Stacie Haller, Chief Career Advisor at Resumebuilder.com, "There is a lot of excitement about the utilisation of ChatGPT. Workers should think about how this new technology might affect the duties of their current positions as it gets traction in the workplace. According to the survey results, ChatGPT implementation by businesses is intended to streamline some job duties.

Conclusion

The founder of ChatGPT, Sam Altman, also suggested in an interview from March that ChatGPT would be able to replace several jobs, including customer service.