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AI Not Affecting Job Market Much So Far, New York Fed Says
Rising adoption of AI technology by firms in the Federal Reserve's New York district has not been much of a job-killer so far, the regional Fed bank said in a blog on Thursday. Reuters: "Businesses reported a notable increase in AI use over the past year, yet very few firms reported AI-induced layof...
Rising adoption of AI technology by firms in the Federal Reserve's New York district has not been much of a job-killer so far, the regional Fed bank said in a blog on Thursday. There has been broad concern that AI could create major headwinds for hiring in the coming years, with the technology hitting highly-paid professional and managerial jobs the hardest. "Looking ahead, firms anticipate more significant layoffs and scaled-back hiring as they continue to integrate AI into their operations," New York Fed researchers wrote.
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