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Nearly 4,000 people working in tech lost their jobs because of AI in May.

According to a new survey, the tech job market has been quite unstable over the past few months, and since the launch of Artificial Intelligence tools like ChatGPT, Bard, and Bing, things have been much more difficult. In November 2022, OpenAI released ChatGPT, and in February of this year, Google and Microsoft released Bard and Bing, two of their own tools.

Since their introduction, the three AI technologies have dominated the tech industry, and now, more and more businesses are utilizing Artificial Intelligence to its full potential. And in May, the new technology caused roughly 4,000 employees to lose their employment.

Around 4,000 people lost their employment in May of this year as a result of artificial intelligence, according to a Business Insider report that was originally credited to a monthly report by Challenger, Grey, and Christmas. A total of 80,000 workers lost their employment last month, according to the data. 3,900 of these positions were eliminated due to the same. Economic conditions, cost-cutting initiatives, organisational restructuring within the business, or mergers and acquisitions may be the causes of additional job layoffs.

The study also included information on all layoffs from 2023 until the present. Approximately 4 lakh people lost their jobs between January and May. Additionally, a representative told Insider that this was the first instance in which employment losses were linked to Artificial Intelligence .

Also read, Vedanta parent raises $450 million from two rivals.

AI being used in the workspace:

Another survey by the career resource Resumebuilder.com in February of this year found that some US-based businesses have begun using ChatGPT in place of human employees.

The poll included 1,000 business leaders, and over half of the US organisations indicated they were using ChatGPT and that the chatbot had replaced employees at their businesses.

Business leaders were ‘impressed’ by the work of the popular chatbot, according to a statement released at the time by Resumebuilder. According to the business, most corporate leaders are impressed with ChatGPT’s work in general. According to 55% of respondents, ChatGPT’s work is of exceptional quality, while 34% feel it is very good.

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