AI adopters aren’t slashing jobs so far, NY Fed survey shows

AI Adopters Aren’t Slashing Jobs So Far, NY Fed Survey Shows

Artificial intelligence’s impact on employment appears to be limited for now, at least in one region surveyed by the Fed.

About 5% of New York area service-industry firms that reported using AI said that they’d reduced employees over the past six months, according to an August study by the Federal Reserve Bank of New York. The survey found little change in employment at manufacturers that have adopted AI.

The current trends “suggest that firms plan net hiring due to the use of AI, not net worker reductions,” the ...