A new report says that the tech job market has been quite volatile for the past few months and things have become even more challenging ever since AI tools like ChatGPT, Bard and Bing were launched.
OpenAI introduced ChatGPT in November 2022 and Google and Microsoft launched their AI tools Bard and Bing in February this year. The three AI tools have been the talk of the tech world since their inception and today, more and more companies are using AI to their advantage. And in May, nearly 4,000 people lost their jobs from the emerging technology.
4,000 people lost their jobs
According to the report of Business Insider, 4,000 people have lost their jobs in May due to Artificial Intelligence. The report said that in total, about 80,000 people were fired last month. Of these, 3,900 layoffs were due to AI. Economic conditions, cost-cutting, company restructuring or mergers and acquisitions may be behind other job cuts.
4 lakh people lost their jobs in January
Information has also been shared in the report on the total job cuts in 2023 so far. From January to May, about 4 lakh people lost their jobs.
This is the first time AI is being held responsible for job cuts, according to Insider’s report. All the layoffs were from the tech sector.
Also Read: TCS onboards 44,000 freshers in FY23, honors all job offers
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