ByJoe McKendrick,
Senior Contributor.
There is no shortage of trepidation that artificial intelligence is replacing jobs. Recent headlines accompanying layoff stories have been screaming about AI as the cause.
But layoffs may be happening with or without AI. “The AI apocalypse is probably not here just yet,” wrote Noam Scheiber in The New York Times. “While the technology may have played an indirect role in some of the downsizing, experts say the transition to an AI-powered workplace most likely won’t entail large-scale layoffs in which employers dump humans in favor of machines. Rather, the transition is likely to be more gradual, in many cases occurring as new companies, built to exploit A.I., take market share from more established companies that are slower to embrace it.”
Indeed, there is scant evidence AI-induced job displacement is happening at this time, a new study from Bank of America Institute confirms.
