AI is particularly strong in this area

According to the American Challenger, Gray & Christmas report, more than 80,000 US workers were laid off last May, which is a 20% increase compared to the previous month and almost four times the level measured in the same month of 2022. AI accounted for 3,900 of the cuts, or roughly 5% of all job losses, making AI the seventh largest contributor to job losses in May 2023, according to employers.

According to a study by Transparency Market Research, the global artificial intelligence market is estimated to grow at a CAGR of 36.1% between 2016 and 2024, rising to $3,061.35 billion by the end of 2024 from $126.14 billion in 2015.