What Is The Real Impact of AI on Job Cuts? An In-Depth Analysis
Since the release of ChatGPT and given the increasing adoption of Generative AI, many questions arose related to the impact on the job market related to AI.
Multiple companies announced job cuts as their teams adopt AI and hence “requiring less workforce”. No industry seems spared. No function seems spared.
Those announcements covered big companies like British Telecom, or smaller, like this French PR company replacing half of its staff by AI.
This obviously generated concerns related to job safety, as companies of different sizes, in different sectors, and within different functions seem to be massively replacing humans by AI.
These concerns reached even the Biden administration, and in the Executive Order on Safe, Secure, and Trustworthy Artificial Intelligence signed by President Biden, it stated, quote, “Produce a report on AI’s potential labor-market impacts, and study and identify options for strengthening federal support for workers facing labor disruptions, including from AI”.
So, as a Data guy, I wanted to assess, with numbers and data, the real impact of AI on layoffs and job losses.