May Sees 4,000 Jobs Lost to AI.

AI contributed to nearly 4,000 job losses in May, according to a report by Challenger, Gray & Christmas. The report shows that AI was responsible for roughly 5% of all jobs lost, making it the seventh-highest contributor to employment losses in May cited by employers. Businesses are adopting advanced AI technology to automate a range of tasks, including creative work and administrative and clerical work. The AI industry is expected to grow to more than $1 trillion fueled by major technological advancements. However, analysts note that generative AI is already creating new jobs, and the burgeoning industry is just getting started.