Nearly 80,000 people were laid off for various reasons in the month of May and almost 4,000 people who were working in the technology sector lost their jobs to Artificial Intelligence.
An insider report from an employment agency, Challenger, Gray and Christmas was published in the month of May stating that 80,000 people were laid off, 3,900 people from those had lost their jobs because of AI and the other reasons were cost cutting, economic conditions, mergers, acquisition and restructuring of the companies.
This report also conveyed that around 4 lakhs people had lost their job till now from the month of January to May. This is one of the worst starts for the year after 2020 which was hit by the Covid-19 pandemic.
United States based organizations announced around 80,089 job cuts in the month of May, which is 287% more than the same month of previous year. The reasons behind the layoff include AI for the first time along with the factors like market conditions, buyouts, restructuring, mergers and acquisitions.
A survey was conducted by the resumebuilder.com, a job adviser portal which said that the US Companies have started employing ChatGPT rather than human staffs. Around 1,000 businessmen had participated in that particular survey and most of them said that they have replaced the human workers with the ChatGPT. Most of the business leaders were impressed by the virtual chatbots. The findings of this survey showed that the organizations are planning to modernize their works with the use of ChatGPT.
The creator of ChatGPT, Mr. Sam Altman gave a statement in an interview that customer service jobs can be that one job which can be replaced by ChatGPT.
A spokesperson gave a confirmation that this is the first time AI has been included in the report as a reason for layoffs which came from the tech sector. Artificial Intelligence is the trending topic in recent times and new factors in AI tech are announced on a regular basis from many companies like Adobe, Amazon and Google. He also said that the companies who adopted ChatGPT are hesitant to disclose their motivating element behind the layoffs. But the Challengers firm is expecting this trend to continue in future.
A British telecommunications company in their presentation regarding earnings plan in May announced to cut off 55,000 jobs by the end of 2030, which was previously decided by the organization and this could take place once the construction projects comes to an end.
However, the British telecommunications CEO Mr. Philip Jansen said they will replace around ten thousand of those predicted layoffs with the help of AI. He also said that the existing chatbot of the BT group “Amy” is capable of answering most of the customer queries and only few improvements would be required with time for their chatbot Amy.
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