In a stunning twist, artificial intelligence (A.I.) has jumped from being a distant job threat to an undeniable reality. A recent report reveals that last month, a whopping 3,900 workers bid farewell to their jobs, thanks to the swift rise of this technological mastermind.
According to Challenger, Gray & Christmas, U.S. companies initiated over 80,000 layoffs in May, a 20% surge compared to April. While market conditions, restructuring, and buyouts played their part, A.I. made its debut as a layoff culprit for the first time.
Hold on to your algorithms, folks—those nearly 4,000 A.I.-related layoffs dealt a blow exclusively to the tech industry. Andy Challenger, the senior vice president of the recruiting firm, spilled the silicon beans to Fortune. And guess what? These cuts come at a time when the sector is experiencing a major retrenchment, rivaling the famed dotcom bubble burst of 2001.
“We always expected A.I. to gobble up jobs, but the lightning speed at which it’s happening has us surprised,” remarked Challenger. “It’s mind-boggling how this technology is evolving and adapting faster than a chameleon on roller skates.”
Unfortunately, the Challenger report didn’t disclose which companies fell victim to these A.I.-related job cuts. However, it’s not all doom and gloom. While A.I. may be mercilessly axing some jobs, it’s simultaneously birthing others. JPMorgan, for instance, has recently unleashed a staggering 3,651 new positions tailored for our A.I. overlords, according to Bloomberg. It seems like some companies have chosen a more cooperative approach, utilizing A.I. as a helpful sidekick to lighten the load for their human workforce.
Recent surveys conducted by software company Krista show that most Americans anticipate A.I.’s eventual impact on their jobs. However, there’s a glaring contrast between managers and rank-and-file workers. Managers dance on the clouds of optimism, with a mere 11% fearing the wrath of A.I., while their subordinates worry twice as much about their careers being jolted by the technology’s lightning bolt.
In a dramatic twist, Goldman Sachs predicted that 18% of global jobs and a quarter of tasks in the U.S. and Europe could be gobbled up by automation. Alas, white-collar jobs, including computer and financial gigs, are more susceptible to the clutches of A.I., particularly those in administration and law. After all, A.I. can whip up summaries of performance reports and code like there’s no tomorrow, leaving us humans in awe and possibly in search of dog-walking gigs.
Enter Olivia Lipkin, once a copywriter in the vibrant city of San Francisco, now transformed into a professional dog walker. The Washington Post revealed her transition from human wordsmith to canine companion, as A.I. snatched her job. To make matters worse, her coworkers even jokingly referred to her as “Olivia/ChatGPT” on company Slack. Ouch!
As the march of A.I. continues, we’re left to ponder the uncertain future of job security. Will companies start blaming A.I. for future terminations, or will they keep the bots out of the conversation? Only time will reveal how investors react to this robot takeover and its human job repercussions.
So, dear readers, beware the rise of A.I. It may be a magical realm of computing wonders, but its power to transform industries and leave workers pondering their next move is a force to reckon with.
[Originally featured on Fortune.com: “The A.I. job culling has already begun and