NY Fed Finds Modest Impact of AI on Jobs Even as Usage Increases

Use of artificial intelligence among businesses jumped in the last year and is expected to continue to grow, yet few firms have cut jobs as a result so far, according to a new Federal Reserve Bank of New York study.

Around 40% of service firms reported using AI for tasks, up from 25% last year, the study found. The share is expected to continue growing, as 44% of companies say they will use AI over the next six months.

Use of the tool has also extended to 26% of manufacturers, with roughly a third saying they will use it within ...