#Artificial Intelligence will eliminate 66% of all jobs but hey GDP will be up 7%

Those jobs? They’re never coming back. A hole will have been ripped in the economy. You can already see glimmers of what those jobs are — not really jobs, entire fields and industries will be decimated, and already are. #The Most Important Thing

Artificial Intelligence

The Most Important Thing

#Artificial Intelligence will eliminate 66% of all jobs but hey GDP will be up 7%  Those jobs? They’re never coming back. A hole will have been ripped in the economy. You can already see glimmers of what those jobs are — not really jobs, entire fields and industries will be decimated, and already are. #The Most Important Thing

Jerome Cody

Australian administrative and support services jobs could halve due to AI, according to a new report. Up to 191,000 jobs in this sector could be lost. 

- There are over 415,00 jobs in the administrative and support services sector in Australia.
- Experts believe that if AI's impact on the Australian job market is similar to the effect that AI is expected to have on the U.S. market, then 46% of the industry jobs could be replaced.
- Jobs that rely on manual labor, such as construction, will not be replaced as easily. This sector represents around 1.3 million jobs in Australia.
- The country's largest sector, healthcare, could see nearly 30% of its jobs be automated at some level.

https://www.news.com.au/technology/innovation/aussie-industry-set-to-almost-halve-thanks-to-ai/news-story/0790059d257dcb8f79de1f32762677da

Australian administrative and support services jobs could halve due to AI, according to a new report. Up to 191,000 jobs in this sector could be lost.   - There are over 415,00 jobs in the administrative and support services sector in Australia. - Experts believe that if AI's impact on the Australian job market is similar to the effect that AI is expected to have on the U.S. market, then 46% of the industry jobs could be replaced. - Jobs that rely on manual labor, such as construction, will not be replaced as easily. This sector represents around 1.3 million jobs in Australia. - The country's largest sector, healthcare, could see nearly 30% of its jobs be automated at some level.  https://www.news.com.au/technology/innovation/aussie-industry-set-to-almost-halve-thanks-to-ai/news-story/0790059d257dcb8f79de1f32762677da

New data out of the US paints a bleak picture for one industry when it comes to the risk of an AI takeover.

Aussie industry predicted to lose 190,000 workers to AI

Sam Mendoza

restaurants have begun testing out AI tech for drive-thrus, leaving customers and workers frustrated. While the companies aim to unburden overworked employees with AI, so far, the results have been less than stellar across the board. 

https://www.cnn.com/2023/06/17/business/ai-drive-thru/index.html

restaurants have begun testing out AI tech for drive-thrus, leaving customers and workers frustrated. While the companies aim to unburden overworked employees with AI, so far, the results have been less than stellar across the board.   https://www.cnn.com/2023/06/17/business/ai-drive-thru/index.html

Over the past few years, restaurants have been investing in artificial intelligence tech for drive-thrus. They say it will spped up the drive-thru and boost sales. But customers — and workers — may no

AI drive-thrus may be good for business. But not for the rest of us | CNN Business

Germany's Bild tabloid, Europe's biggest-selling newspaper, plans to cut costs by using AI to replace editorial jobs. https://www.theguardian.com/world/2023/jun/20/german-tabloid-bild-to-replace-range-of-editorial-jobs-with-ai

Hundreds of redundancies expected as Axel Springer tells staff certain roles will ‘no longer exist as they do today’

German tabloid Bild to replace range of editorial jobs with AI

Chris Nheu

Artificial intelligence has already begun replacing human jobs, with nearly 4,000 positions lost last month due to the technology, according to a new report from Challenger, Gray & Christmas. While market conditions, cost-cutting, and other factors were listed as the primary causes of layoffs, AI was cited as a contributing factor for the first time.

https://www.challengergray.com/blog/may-2023-layoffs-jump-on-tech-retail-auto-ytd-hiring-lowest-since-2016/

According to the report, U.S. employers announced over 80,000 layoffs in May, a 20% increase from April. AI was responsible for around 5% of the job cuts, ranking as the seventh-highest contributor.

The report didn't specify which companies were behind the AI-related job cuts. Andy Challenger, the recruiting firm's senior VP, expressed surprise at how rapidly AI technology was cited as a reason and acknowledged that many more job losses are expected.

Artificial intelligence has already begun replacing human jobs, with nearly 4,000 positions lost last month due to the technology, according to a new report from Challenger, Gray & Christmas. While market conditions, cost-cutting, and other factors were listed as the primary causes of layoffs, AI was cited as a contributing factor for the first time.  https://www.challengergray.com/blog/may-2023-layoffs-jump-on-tech-retail-auto-ytd-hiring-lowest-since-2016/  According to the report, U.S. employers announced over 80,000 layoffs in May, a 20% increase from April. AI was responsible for around 5% of the job cuts, ranking as the seventh-highest contributor.  The report didn't specify which companies were behind the AI-related job cuts. Andy Challenger, the recruiting firm's senior VP, expressed surprise at how rapidly AI technology was cited as a reason and acknowledged that many more job losses are expected.

May 2023 Challenger Report

Layoffs Jump on Tech, Retail, Auto;

YTD Hiring Lowest Since 2016

Published June 1, 2023

U.S.-based employers announced 80,089 cuts in May, a 20% increase from the 66,995

Jerome Cody

A group of likeminded people in The Most Important Thing are talking about this.