AI isn’t replacing jobs, despite usage increases

By Maria Eloisa Capurro
Published Updated 3 Min Read

Bloomberg Mercury

Use of artificial intelligence among businesses jumped in the last year and is expected to continue to grow, yet few firms have cut jobs as a result so far, according to a new Federal Reserve Bank of New York study.

Around 40% of service firms reported using AI for tasks, up from 25% last year, the study found. The share is expected to continue growing, as 44% of companies say they will use AI over the next six months. 

Maria Eloisa Capurro

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