Billionaire tech moguls and CEOs from various industries anticipate significant job losses due to AI. Ford's CEO, Jim Farley, predicts that AI could replace half of US white-collar workers, while Amazon's Andy Jassy alerted employees to impending layoffs from AI advancements. JPMorgan Chase's CEO, Marianne Lake, expects a 10 percent reduction in workforce costs due to AI. Conversely, the US Bureau of Labor Statistics reported an increase of 147,000 jobs in June, countering fears of an AI job apocalypse, although long-term unemployment rose sharply.
CEO of Ford Motor Company Jim Farley predicted that AI "is going to replace literally half of all white-collar workers in the US." He added that "AI will leave a lot of white-collar people behind."
Amazon CEO Andy Jassy warned employees to prepare for layoffs in the coming years due to the "once-in-a-lifetime" revolution of AI.
At JPMorgan Chase, CEO Marianne Lake projected a 10% reduction in the company's overall head count as a result of AI adoption.
Despite fears of AI-induced job losses, recent US Bureau of Labor Statistics data showed a jobs increase of 147,000 in June and a drop in the unemployment rate.
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