As
artificial
intelligence
continues
to
take
hold
in
the
service
industries,
how
has
its
use
affected
employment
in
the
sector?
While
it’s
far
too
early
to
determine
long-term
trends,
the
New
York
Federal
Reserve
does
have
some
new
data
in
its
regional
August
surveys
of
service
and
manufacturing
firms,
detailed
by
Bloomberg
this
week.
According
to
the
findings,
employees
in
the
service
sector
—
which
includes
legal
along
with
finance,
hospitality,
and
several
other
industries
—
should
mostly
be
preparing
for
a
glut
of
seminars,
with
more
than
53%
of
organizations
that
are
planning
to
use
AI
saying
they
would
be
conducting
AI
retraining
in
the
next
six
months.
When
it
comes
to
the
services
workforce,
19%
of
the
organizations
planning
to
use
AI
say
they
will
be
hiring
more
workers
in
the
next
six
months
because
of
its
use,
while
12%
say
they’re
anticipating
layoffs
during
that
time
due
to
AI.
A
group
of
New
York
Federal
Reserve
economists
see
reasons
for
optimism,
writing:
“These
results
are
consistent
with
economic
arguments
that
downplay
alarmism
about
AI’s
potential
to
displace
workers
and
instead
point
to
its
potential
to
augment
employment
and
fill
labor
shortages.”
AI
and
the
Labor
Market:
Will
Firms
Hire,
Fire,
or
Retrain?
[Federal
Reserve
Bank
of
New
York]
AI
Adopters
Aren’t
Slashing
Jobs
So
Far,
NY
Fed
Survey
Shows
[Bloomberg]
Jeremy
Barker
is
the
director
of
content
marketing
for
Breaking
Media.
Feel
free
to email
him with
questions
or
comments
and
to connect
on
LinkedIn.