The job cuts come as businesses waste no time adopting advanced AI technology to automate a range of tasks — including creative work, such as writing, as well as administrative and clerical work. The AI industry is expected to grow to more than $1 trillion fueled by major technological advancements that became apparent last fall with the launch of OpenAI’s ChatGPT bot, a report by Bloomberg Intelligence analysts shows.
This is the first time AI was included on the Challenger report, but not the first time the rapidly advancing technology has made headlines for replacing humans.
ChatGPT enters the newsroom
The Washington Post reported this week on two copywriters who lost their livelihoods because employers (or clients) decided that ChatGPT could perform the job at a cheaper price. Media companies such as CNET have already laid off reporters while using AI to write articles, which later had to be corrected for plagiarism. Earlier this year, an eating disorder helpline used a chatbot to replace human staff members who had unionized. It recently had to pull the plug on the bot after it gave people problematic dieting advice.
In March, investment bank Goldman Sachs predicted in a report that AI could eventually replace 300 million full-time jobs globally and affect nearly one-fifth of employment — with a particular hit to white-collar jobs often considered automation-proof, such as administrative and legal professions.
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