As AI seeps into all corners of the market, many worry that the technology will ultimately lead to significant job losses as the technology eliminates the need for human workers. Senior vice president of Challenger, Gray & Christmas, Inc. Andrew Challenger joins Wealth! to discuss the state of AI in the labor market., an increase from 2023's 4,247.
Yeah, I mean A I has been the, the key topic that everybody's been talking about for two years when it comes to jobs.Uh Right now, we are seeing some increases uh either from companies saying that they're replacing jobs, small number for A I.Uh But we are seeing companies shifting their focus, closing down product lines, uh reducing the head count.So it's certainly something that we're seeing, uh how far that's gonna go.
And so there is a real shyness around attributing job cuts to artificial intelligence just lastly while we've got you here, Andy, you know, you think about for the job cuts, how that passes through to wages as well. We've seen that erode as the labor market has cooled to a relatively tepid point where we're at right now.
Billionaire Elon Musk will head a government efficiency commission with a vast remit if Donald Trump is elected U.S. president, potentially putting him in position to change the rules for corporate America, including the wide swath of industries in which his companies compete.
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