Business

Latest Report Reveal Rising Job Losses – Crypto News

Published

1 year ago

December 16, 2023

Dripp

In a recent AI report, it was uncovered that Artificial Intelligence-induced job losses have been on the rise, aggravating concerns from top tech leaders like Elon Musk.

AI Technology Driving More Job Losses

AI gained significant prominence this year with the launch of Large Language Models (LLMs) like ChatGPT from OpenAI. The multiple innovative functionalities of this technology have thrown several employees out of their jobs. Precisely, AI can complete several tasks including designing documents and coding.

A report from ResumeBuilder’s research of 750 businesses showed that a significant percentage of these businesses agree with the job losses report. About 37% confirmed that AI technology replaced workers this year. Another 44% see the possibility of having more layoffs in the coming year. Similarly, Asana’s State of AI at Work 2023 report shows that employees believed 29% of their tasks had been taken over by AI.

It is worth noting that Asana supports “human-centered AI,” which involves the enhancement of human abilities and collaboration with this technology, not the outright replacement of people.

Artificial Intelligence Focusing on Enhanced Intelligence

For the second group of ResumeBuilder’s survey, their projection finds its foundation on the basis that AI is becoming more efficient with more functionalities. Google recently teased the capabilities of its AI chatbot dubbed Gemini. According to a shared demonstration video, Gemini displayed its highly interactive capability by accurately naming a duck that was created using lines and shapes.

Musk once said that Artificial Intelligence is taking humans to a point where no job is needed. Google’s Gemini and many other emerging AI tools are showing a new frontier in LLM design and the potential of Musk’s prediction becoming true. However, some experts do not share this same sentiment even though they acknowledge the innovative offerings of AI.

Julia Toothacre, a resume and career strategist at ResumeBuilder noted that the research may not be a true representation of the broad business landscape. Hence, it would not be wise to conclude from the results.

“There are still so many traditional organizations and small businesses that do not embrace technology the way that some of the larger companies do,” Toothacre clarified.

While these layoffs are increasing, it is pertinent to understand that AI is not the only driver. Many of these businesses are going through restructuring and AI comes off as a viable alternative.