According to a recent report, the tech job market has been experiencing significant volatility in recent months, particularly since the introduction of AI tools such as ChatGPT by OpenAI in November 2022, and Bard and Bing by Google and Microsoft in February of this year. These AI tools have generated considerable buzz in the tech industry, leading many companies to leverage AI technology to their advantage. Unfortunately, this trend has resulted in job losses for nearly 4,000 individuals in May, as companies increasingly adopt these emerging technologies.According to a Business Insider report citing data from Challenger, Gray, and Christmas, approximately 4,000 individuals lost their jobs to artificial intelligence in May. The report also highlighted that a total of around 80,000 people were laid off during the same month, with 3,900 job cuts specifically attributed to AI. Other reasons for job cuts included economic factors, cost reduction measures, company restructuring, and mergers and acquisitions.image source: twitterThe report further provided information on the overall job cuts in the year 2023. From January to May, approximately 400,000 individuals faced job losses.A spokesperson mentioned to Insider that this marked the first instance where job cuts were directly attributed to AI. The spokesperson clarified that all the layoffs occurred within the technology sector.In February of this year, a survey conducted by Resumebuilder.com, a job advice platform, unveiled that certain companies in the United States had begun implementing ChatGPT as a substitute for human employees.The survey involved 1,000 business leaders, and nearly half of the participating US companies stated that they had adopted ChatGPT, resulting in the replacement of workers with the chatbot in their respective organisations.In a previous statement, Resumebuilder expressed that business leaders were highly impressed by the performance of the popular chatbot. The company stated, “In general, the majority of business leaders are impressed with the work produced by ChatGPT. Fifty-five percent consider the quality of work to be excellent, while 34 percent regard it as very good.”According to a report by Business Today, Stacie Haller, Chief Career Advisor at Resumebuilder.com, expressed excitement about the utilisation of ChatGPT. In a statement, Haller mentioned, “As this new technology gains momentum in the workplace, employees should consider how it may impact their current job responsibilities. The survey results indicate that employers are seeking to streamline certain job responsibilities by incorporating ChatGPT.”Furthermore, during an interview in March, Sam Altman, the creator of ChatGPT, suggested that one job that could potentially be replaced by the chatbot is customer service.
