According to a recent report, the tech job market has experienced significant volatility in recent months. The introduction of AI tools such as ChatGPT, Bard, and Bing has further increased the challenges faced by professionals in this field. ChatGPT was unveiled by OpenAI in November 2022, while Bard and Bing were launched by Google and Microsoft respectively in February of this year.
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Since their inception, these three AI tools have garnered significant attention in the tech industry, prompting numerous companies to leverage AI for their benefit. Unfortunately, the growing influence of these emerging technologies resulted in approximately 4,000 job losses in 2023’s May alone.
80,000 people terminated in May, 4,000 techies because of AI
According to a report by Business Insider, sourced from a monthly report by Challenger, Gray, and Christmas, the month of May witnessed a significant number of job losses, with approximately 4,000 people being affected by artificial intelligence. The report further indicated that a total of 80,000 job cuts occurred during that month, with 3,900 of them directly linked to AI. The remaining job cuts were attributed to various factors such as economic conditions, cost-cutting measures, company restructuring, and mergers and acquisitions.
The report also provided insights into the overall job cuts that have taken place in 2023 thus far. From January to May, approximately 400,000 individuals lost their jobs.
A spokesperson highlighted that this was the first instance in which job cuts were explicitly attributed to AI. Furthermore, the spokesperson clarified that all the layoffs occurred within the tech sector.
AI replacing more human jobs by the day
In February of this year, a survey conducted by Resumebuilder.com, a job advice platform, revealed that certain companies in the United States had started implementing ChatGPT instead of human workers.
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The survey involved 1,000 business leaders, and nearly half of the participating US companies reported that they were utilizing ChatGPT, with the chatbot replacing employees within their organizations.
Time to shift gears
Resumebuilder.com stated at the time that business leaders were “impressed” with the performance of the widely talked-about chatbot. The company mentioned, “Overall, most business leaders are impressed by ChatGPT’s work. Fifty-five per cent stated that the quality of work produced by ChatGPT is excellent, while 34 per cent considered it very good.”
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Stacie Haller, Chief Career Advisor at Resumebuilder.com, was quoted in a Business Today report stating, “There is a lot of excitement regarding the use of ChatGPT. As this new technology gains momentum in the workplace, workers should consider how it may impact the responsibilities of their current jobs. The survey results indicate that employers are seeking to streamline certain job responsibilities through the implementation of ChatGPT.”
Furthermore, Sam Altman, the creator of ChatGPT, mentioned in an interview in March that one job that could potentially be replaced by ChatGPT was customer service.
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