Reported about 20 hours ago
The Federal Reserve is closely monitoring the potential impact of AI on the job market, amid concerns that technology could lead to significant workforce reductions. Amazon CEO Andy Jassy has called generative AI a 'once-in-a-lifetime' technology that could increase efficiency but reduce employment. Fed Chair Jerome Powell noted that while the current labor market remains strong, the interplay between AI augmenting or replacing human labor is uncertain. As major corporations prioritize productivity, the job market is facing challenges, particularly for recent graduates seeking entry-level positions.
Source: YAHOO