AI is particularly strong in this area

By: Trademagazin Date: 2024. 03. 19. 10:59

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Artificial intelligence already has a significant impact on the IT labor market, so it can bring many changes this year. Certain jobs remain in demand, but overall, a downward trend towards the employment of IT professionals can be observed – cost reduction and the emergence of AI may bring about a reorganization in the market.

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.