Reality of AI’s impact on employment clashes with C-suite optimism

While some proponents believe AI will bring about an employment boom, so far its effect has been to dampen entry-level hiring while delivering mixed results on productivity.

In March, the US jobs market recorded 178,000 new jobs, marking little change from the month before, according to the Bureau of Labor Statistics. 

The anemic growth in job listings comes amid volatile policy swings from the White House, increased energy prices due to the US and Israel’s war with Iran and, according to recent research, AI disruptions to the labor market. 

Proponents of AI and large language models have claimed that the tech will bring about an economic boom, thanks to the promise of efficiency breakthroughs. 

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