AI Takes Away 16,000 Jobs Monthly While Bosses Stay Optimistic

A growing gap between what company bosses think about AI and what's actually happening to jobs is causing concern.

New research from Goldman Sachs (a major investment bank) reveals that artificial intelligence (AI - computer programs that can think and learn) is eliminating 16,000 jobs every month. This is happening even as company executives (top managers) remain enthusiastic about AI technology.

The job losses are hitting young workers especially hard: • Entry-level positions (jobs for beginners) have dropped by 50% compared to before COVID • Tech companies are hiring far fewer recent graduates • The US added only 178,000 new jobs in March, with almost none in technology

While 80% of executives say they use AI weekly and see positive results, regular workers tell a different story. A study found that 43% of employees say their jobs have become more frustrating since AI was introduced.

The problem goes beyond just losing jobs. When workers are replaced by AI, they often end up in lower-paying positions that require fewer skills. This can hurt their careers for years to come.

The disconnect is clear: Company leaders see AI as a tool for growth and efficiency (doing more with less), but workers are experiencing job losses, increased frustration, and fewer opportunities - especially for those just starting their careers.

This is an AI-generated summary. Read the original article at: https://cointelegraph.com/news/reality-ai-impact-employment-clashes-optimism?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound